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  1. #531
    pedagoreng is online now Senior Member
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    Trade ideas

    SELL 0.9960; TP 0.8820; SL 0.9990

    BUY 0.9900; TP 0.9945; SL 0.9885

    It looks like a bearish “Bat” pattern is forming on the chart of USD/CHF. It means that the pair may probably be able to rise higher, to 78.6%/88.6% Fibo retracements of XA, but a decline will likely start from there. That scenario agrees with the fact that the resistance line from the 2019 highs is located in that area.

    USD/CHF: a harmonic pattern

  2. #532
    pedagoreng is online now Senior Member
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    On the daily chart of GBP/NZD, the pair has been moving to the support range of 1.8752-1.8683. A rebound may happen soon. In the case of the reversal, the first target is at 1.8961. If the pair is able to stick above 1.8961, we will see a further increase to 1.92.

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  3. #533
    pedagoreng is online now Senior Member
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    Trade ideas

    SELL 1,409; TP 1,400; SL 1.411

    XAU/USD, also known as spot gold, rose to the 1,440 area - the same zone that stopped its advance last week. On D1, there’s a “shooting star” candlestick that points at the bearish correction. A decline below the 50-period MA at 1,409.50 will open the way down to the key support at 1,400. The return above 1,420 is needed to let the price retest the recent highs.

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  4. #534
    pedagoreng is online now Senior Member
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    Trade idea

    SELL 0.7010; TP1 0.6999; TP2 0.6955; SL 0.7025

    The market awaits the release of the US nonfarm payrolls at 15:30 MT time today. According to the consensus forecast, there will be a slight improvement in the American economic figures. To bet on the data that are in line with this forecast or better than it, one can make a bearish bet on AUD/USD.

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  5. #535
    pedagoreng is online now Senior Member
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    Trade idea

    SELL 0.6940; TP 0.6900; SL 0.6955

    Last week we recommended selling AUD/USD as it reached the resistance of the long-term downtrend. The indeed turned out to be correct. The pair formed a “double top” pattern at the resistance line that has been in place since the start of 2018. As bears make it pierce more levels on the downside, we get the new sell target - 0.6900. If the comments of the Fed’s chair Powell are less dovish this week, there will be potential for the further decline to 0.6830 (June low).

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  6. #536
    pedagoreng is online now Senior Member
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    Trade idea

    BUY 108.65: TP 109.60; SL 108.35

    Last week, USD/JPY formed a higher low. Then it broke above the resistance line connecting May 13 low and the highs of June. The pair reached the 38.2% Fibo retracement of the June-April decline and the 50-day MA in the 108.90 area. The advance above this neckline will confirm an inverted “head and shoulders” pattern and make the pair target 109.60 (50% Fibo) and 110.00 (psychological level). The scenario will be valid until USD/JPY trades above 108.40 (the neckline).

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  7. #537
    pedagoreng is online now Senior Member
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    Trade idea

    SELL 1.1105; TP 1.1065; SL 1.1120

    It seems that EUR/CHF is having trouble with returning above 1.1150 (61.8% Fibo of the 2017-2018 advance; 50-month MA). In addition, this was a support area for many months that has recently turned into resistance. The pair made two attempts to overcome this obstacle, but both of them failed. The decline below 1.1105 will confirm a “double top” and open the way down to the previous lows in the 1.1060 area. Bulls will have a chance only once the euro returns above 1.1170.

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  8. #538
    pedagoreng is online now Senior Member
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    Technical analysis: on H4 of AUD/CAD, the pair touched the resistance at 0.9189 and rebounded. Up to now, the pair has been moving to the support range of 0.9163-0.9153. If it closes below this range, we can anticipate a further fall to 0.9135. However, we see that Parabolic SAR still signals an uptrend and the pair will recover anytime. Look at resistances at 0.9189 and 0.9214.

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  9. #539
    pedagoreng is online now Senior Member
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    Trade idea

    SELL 120.70; TP 120.10; SL 120.90

    Slowly but surely, EUR/JPY is creeping down. This week, the currency pair broke the support line connecting June lows and thus resumed the downtrend which has been in place since the start of 2018. The pair is moving towards the 61.8% Fibo retracement of the 2016-2018 advance just above 120.00. Daily MAs are in the negative order, and on W1 200- and 50-week MAs have just formed a “dead cross”. As a result, those who are patient enough can trade this downtrend.

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  10. #540
    pedagoreng is online now Senior Member
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    On the daily chart of NZD/JPY, on Monday, July 22, the pair formed a shooting star candlestick. It may be a signal of the short-term reversal.

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