Usdshort
USDCHF 60 PIP SELL USDCHF showing great potential for a 60 PIP drop. Currently we are sitting at a strong zone of resistance on the 4hr that recently was rejected. We can clearly see beforehand a bearish trend was predominant in the market and we recently saw a break of this trend to the upside. Taking this into consideration i believe we will get a pull back from this break which with the strong resistance level we are currently situated at leads me to believe it will happen very soon. Furthermore the RSI(10) is also showing an oversold zone which can also be seen in multiple other points on this significant area. Unfortunately 200 EMA is currently not showing much for a short. We could see the trade potentialy go further if it then breaks the support at which i have set TP and once again test the lowest low.
Watching USDCAD for a sell: 250 pip potentialGoing to keep it short.
The Monthly, Weekly, and Daily Trends are all still bearish.
I think USDCAD is trying to make a run for the 2019 Low (green line)
There should be TONS of stops sitting there as people bought the cup and handle on the monthly chart back in Jan/Feb.
With this as my target, we could be seeing a run up for some liquidity.
We will have a double bottom completing at an untapped point of control. So I'm looking to retail traders to go long right into the hands of institutional sell orders.
The entire move would also be a impulsive bearish crab. The sell zone for that pattern is the light blue.
Observing for now, with elections approaching nothing is off the table.
I am bearish on the dollar currently but things can change quickly in these current conditions.
I like the fact this patterns take profit would be an ABCD that completes exactly at the 2019 low.
Big Decisions ComingThe $USD is quickly and quietly being replaced as the world reserve currency. China is one of the first countries to implement a nationwide digital currency. This power to bypass the exclusive SWIFT club in FX trade could topple the $USD from the thrown as the most liquid asset available. The key to a currency's success is its measure of liquidity. The markets will soon be volatile and saturated with fear, considering the upcoming election. Silver, gold, stocks, commodities and the entire digital asset space will be a safe haven. No we will not see the stock market crash until it is a bubble. Look at the S&P, does that look like a parabolic bubble to you? Federal Debt, USD, Cash will be the biggest liability. Inflation cannot be measured by the DXY because the pegged basket of currencies is also inflating at an alarming rate. Inflation is measured by minimum wage, the stock prices, gold, and Bitcoin. These products are not increasing in price, the value of the dollar that they are denominated in is decreasing!
Thanks for reading.
Eurusd multiple analysis says we are going south Welcome!
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Follow the trade plans and notes. Make up your own trade setup and make sure you meet with the required confirmations first, before you make your move!
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Trade Setup
First scenario
i) After this long uptrend now the market is clearly in the distribution process.
ii) The red lines indicate the distribution process on the chart. Notice that the last two tops are decreasing (yellow line). This confirms that the market might be distribution at this point.
iii) To complete the Wyckoff spring it can break the yellow line at point W ( 1.1965) or above previous resistance 1.20 point X.
Second scenario
iv) we have head and shoulder pattern at daily TF and break below the neckline and the restest of the neckline can give us a better short position.
Most importantly we have NEW COT reports which clearly shows big banks and institutions have closed their 32k long position from the last three weeks. 11k is last week, so next week we can see
downtrend, towards monthly 38% fib 1.13 ..
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Wait for the meeting in CADAs I published early this week, tomorrow will be the Bank of Canada's meeting, the market doesn't wait a particular change, so the reaction of the pair USDCAD , will be affect by the stimulus and economy outlook.
USDCHF WANTED FOR MORE LOWS FOR A POSSIBLE 5TH WAVE EXTENSION USDCHF for a momentum trade for further lows on this asset, a 5th wave impulse before a possible correction. Fundamentals further confirm DXY weakness which gives further decrease on the sentiment of asset
US Dollar is death!!! AS FED created more inflationHello, in htis studying education. We see a simple analsysi of what is the current state of the US economic, so, guys, there are not to much to explain. US Dollar is so near of he death and its end of the world currency federal. Guys, I proyect a possible Elliot Wave analysis that they indicate a bearish scenario for USD.
Also, if you trade monthy, you can to keep this position for long-term and then, earn money as investment and put short until the 0.40 cents, guys, this is horrible, putting a short position for long long term, its a great opportunity in this crisis buble that get soon in our life.
USDCAD 1DUnder 1.33400 will be SELL
Over 1.33400 will be BUY
.........
Inclinde line is a range to make sell or buy.
EURAUD 100 pip dropTaking a look at the Daily chart on EURAUD shows us that we are now moving towards a bearish leg playing out on the currency. What were seeing on this 15 min chart is a small ranging area of structure that price has moved into while making a longer term bearish leg. I believe that we'll soon break this bearish leg to the downside and continue a steady drop down to the lower support.
USDCHF SHORTHello friends !
Today I have for you two nice ideas !
First is this short for USD/CHF !
So this pair is on this nice area where the price came in the past but was rejected, also we have this two EMA of 200 and 400 that sustain my idea.
I personally entered already in this trade from 5 minutes and I want to share with you my ideas !
So you can enter in this trade and have a TP at 0.94011 and for those with higher risk appetite i have the bottom of this formation at 0.93779
We have out SL set at 0.94355, we have this 2.5 R/R
Stay tuned, in next minutes the second idea will be posted !
Have a great day !
USDTRY SWING SHORTWith the possibility of creating a lower low (or at least an equal low) on the weekly time frame; I would wait for a daily close below daily support and look for entry on retest of level
DXY INDEX Analysis by Wave FX Academy
DXY Weekly Outlook. Overall overview of the dollar is weak, however, I would be expecting a soft rally over the next few weeks many even a couple months too. We would have completed the BWave correction and moving lower to complete CWave, thus ending the 4th Wave of the Grand Cycle.
Short term we may see strength coming in the dollar but overall we should expect continued dollar weakness as we are still in the correctional phase.
Let me know your thoughts and your feedback.
USDCAD SHORTUSDCAD broke through a key support zone will expect it to push downwards before perhaps retesting .
USDMXN Swing ShortPotential H&S forming on daily time frame. The completion of the pattern presents the possibility of the pair creating a lower low on the weekly time frame to reach, at least, the 127.2% fib extension of rally on weekly time frame.
Two key levels to watch on Aug Gold Futures - 1,775 and 1,765
1,775 is a near term level that formed over on the 1-hour time frame. Price tested this level on June 30th (yesterday) and held above. If we see a break lower, then this is an indication that buyers remain weak.
A more critical level to watch is the 1,765 as this formation originated back in April and has been holding up since. You can see take a look at the 4-hour chart below showing the formation of this level. Every time price has broken above, it quickly trended back below. If this level continues to hold up, we can remain bullish on gold.
