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AUDUSD Source based analysis M15price tells us all it knows about source. Look to short at completion of correction into continuation low immediate expectation is new structure high however expectation has severely weakened. price has spoken. watch how price approaches 8020 for signs of expectation failure, order flow will translate through price. medium term expectation of a break of 7986 structure and down to retest of lows. Price will tell us everything it can along every step of the way
by wigtrade
EURCAD Short (Order)Setup Timeframe: 4H Execution TImeframe: 4H Risk: 2.28% Reward: 7.3% Reasons for Entry: Pair is making lower lows, signaling the start of a downtrend after the rejection of the daily 61.8% bearish fib level. There is also an important zone around 1.43616 where price was a resistance, then broke and was a support, and now broke down through it again, should see it as a resistance zone again. Set the order around that level and the daily 50% fib and 4H 50% fib levels. Reasons for SL placement: Above the 61.8% fib, and above that resistance zone. Reasons for TP placement: Slightly above the -0.27 fib extension level.
Short
by MatthewLundgren
NZDUSD Short (Order)Setup Timeframe: 4H Execution Timeframe: 4H Risk: 2.25% Reward: 4.56% Reasons for Entry: Pair has been respecting the bearish TL, creating lower highs and lower lows, on the bigger picture, it rejected from a 50% bearish fib level. Set the order at the TL and 50% bearish fib level of the recent move down. Reasons for SL placement: Above the 78.6% level, and above recent swing high. If it came up this high, bias would be more of a bullish breakout. Reasons for TP placement: Good RR, if pattern is correct, pair should just continue down, even further down through the TP.
Short
by MatthewLundgren
EUR/USD FOMC ForecastHello Traders, The market is in a range with price action lacking a firm direction and clearly waiting for a fundamental factor to drive it in either direction. The FOMC meeting tomorrow will be such a driver and we have two outcomes below along with our rationale. Outcome 1 - Rate Hike and Bullish Press Conference - 65% Likelihood: We favour a bullish statement and press conference from the FED given Donald Trump has signalled pro business policy and major infrastructure spending. We believe that this will put pressure on the FED to act now and raise rates to accommodate expected economic growth over Trumps first 100 days in office where his policies will be announced and actioned. Outcome 2 - No Hike and Dovish Press Conference - 35% Likelihood: Looking at the chart the market is waiting for direction. In the face of Trumps bullish growth ambitions the market is still undecided on the direction of the FOMC. We then keep our options open on a surge in the Euro as this outcome would mean the FED don't follow the President-Elects view of increased economic growth through infrastructure spending and pro business policies. How to trade: We suggest orders placed on the fringes of the blue box in either direction with small risk stop losses, it's likely price will surge in either direction on the rate decision and statement. Price will then fluctuate during the press conference however it is likely the comments in the conference will be supportive of whichever direction price moves after the rate decision.
Short
by EuroDollarExpert
Quick short and a long afterWe can start with a quick short, the market seems to be going for a slight drop, it's probably going to have some problems going through the 0.74500 (TP: 0.73964 SL: 0.75080). After the currency drops significantly, i expect it will try to break the 0.74500 resistance line and go try the 0.75000. Long at 0.74012 (TP 0.74802 SL: 0.73545). I will setup the second one as pending and good until the end of the day as i am not sure what the market will look like tomorrow and the long maybe kind of going too far.
Short
by JulienBeaulieu