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NZDUSD – Pin Bar strategy

NZDUSD – Kiwi/Dollar A 25 point cut was priced in but I did not see a 1.5% rally coming, even as a USD bear.  In any case, we’re right at the 1985-1993 trend line (big resistance)…again.  The long upper wick warns of a possible top that might be in place.  NzdUsd currently trading in a […]

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EurUsd – Well defined support

EURUSD– Euro/Dollar – Trade details See graph below for our exact entry for this trade.  We will take half of our profit at the take profit level and leave the other half open for now.  Refer to our Bigger picture post to see why we are trading this good risk reward setup.

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GBPJPY – Inverse Head and Shoulders

GBPJPY could be building a complex right shoulder within a powerful bottoming pattern.  A well-defined level and line off of the April and May lows intersect today (see graph for line).  Interestingly, the last 2 rallies have commenced following NFPs.  See our entry, stop loss and take profit levels on the graph.  This will be […]

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EURUSD- Euro/Dollar – ECB press conference

The EURUSD rallied today but prices are still below resistance at 1.1250area. Today will be ECB press conference (news), we don’t trade the news but we will definitely take note of it.  We’ve seen this trap into ECB before.  Basically, EURUSD looks like it is headed higher but then takes out the lows (see December […]

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USDJpy- Dollar/Yen – Testing breakout

As per our weekly forecast commentary, UsdJpy formed an inside bar on the weekly charts.  Yesterday it formed an inside bar on the daily graph and a breakdown lower to test the breakout line.  (Previous resistance – Now Support). Buy at current levels 109.85 and stop loss 108.59 and take profit 112.69. Good risk reward […]

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Forex Signal AUD USD

Forex Signal AUD USD As discussed in our weekly forecast, we are still looking for a new low before we will be buying the AudUsd.  A Fakey setup formed on the 4 hourly graph at near term resistance. (Mother bar, inside bar and pin bar)  Entry 0.7225, stop loss 0.7285 and take profit just above […]

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