Forex Trade Signal – Chart of the Day Sept. 2nd
USDCAD – Potential Kumo Break and More
After double topping and taking a few stabs at the 1.0675 level, the USDCAD has fallen for a second time and is testing a critical level now which is the 1.0450-80 range. Why is this so important? Two main reasons with 3 trading opportunities.
1) It is basically where the [...]
Forex Trade Setup – Chart of the Week Aug. 31st
USDCAD – Critical Range about to be Broken?
For over 3 mos, the USDCAD has been stuck between 1.0125 and 1.0850, but most of that was hemmed in by 1.0675 which happens to be the level its being pinned up against now. Rarely has the pair attacked these levels which such vigor as of late and [...]
Forex Trade Setups – Chart of the Week Aug. 17th
USDCHF – Sub 1.0400 offers a little play
After 7 attempts, the Swissie has failed to close below 1.0371. Several rejections below but nothing closing past. This gives trades a cautious buy off the lows just sub 1.0400 with tight stops below the yearly low while taking half of the position off the board at the [...]
Forex Trade Signal – Chart of the Day Aug. 12th
USDJPY – Is this 85 bounce for real?
A lot of talk about 85 has hit the wires for the USDJPY lately. Just the mere rumors of it by the BOJ have sparked a solid bounce. The pair has touched the 85 barrier 3x in the last 3 days but the first two bounces were small. [...]
Forex Trade Signal – Chart of the Week Aug 11th
GBPUSD – About to break?
After two months above and 8 touches off the 20ema, the pair looks poised to break the 20ema for the first time this summer. It is heading into the 20ema with its strongest 3-day decline since the middle of May and is coming off its most aggressive selling day since.
Although the [...]
Forex Trade Signal – Trade Setup July 29th
USDJPY – 4x so far
As suspected, the pair ran into the 20ema on the daily charts and sold off aggressively for 2 days following. This confirms the institutions are watching this and making plays off of it. With liquidity being down for the summer, its not surprising it is having a hard time breaking it.
Traders [...]
Forex Trade Signal – Trade Setup July 27th
GBPJPY – Kumo Break
The GJ has just completed something it has not done in a few months – perform a kumo break on the daily charts, particularly to the upside.
What is most interesting about this Kumo break is it happened over a flat top which is also the 50% retracement for the last major downmove [...]
Forex Trade Signal July 22nd
EURUSD – Continues to Get Kumo Support
After making its 1st dip into the 4hr Kumo this month, the pair was given support by the kumo and pushed the pair back above it and the Kijun line. This sets up a potential upward Tenkan-Kijun cross which would be a bullish signal but this is in the [...]
Forex Trade Signal July 20th
EURUSD – Did not like it
After making a second attempt on the big figure at 1.3000, the market did not like being long euros and sold the pair off aggressively pushing it under 1.2900. The pair has found support at the Kijun on the 4hr chart so this is good news for those hoping for [...]
Forex Chart of the Week July 19th
EURUSD – Big Kumo Break
After busting through the Daily Kumo for the first time since Dec. 2009, the pair has been holding its ground which is a good sign. The question is what can we expect from this move?
There are several fibs and other layers of interesting resistance above but as long as the pair [...]