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  1. #551
    pedagoreng is offline Senior Member
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    EUR/CAD is under pressure


    Trade idea

    SELL 1.4715; TP 1.4600; SL 1.4745

    EUR/CAD has tried to return above the previous support and now resistance line connecting the lows of 2015 and 2017. However, last week the euro failed to close above this area and the 200-week MA (1.4868). This week, another attempt of bulls to test this level failed. On D1, all the key MAs - the 200-, 100- and 50-day moving averages are above the current price keeping it under pressure. On H4, there’s a series of lower highs: each time buyers tried to push the price higher, they failed earlier than before. There are still support levels at 1.4750 and 1.4725, so conservative traders will be sure of a top when the pair slides below 1.4720. The target will be at 1.4600. On the upside, a close above 1.4860 is needed to open the way up to 1.4920 (100-day MA).

  2. #552
    pedagoreng is offline Senior Member
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    Trade idea

    BUY 132.60; TP 135.00; SL 131.25

    The stock of Pepsico formed a kind of messy inverted “Head and Shoulders”. On W1 we see a sharp reversal of the price to the upside. It has also managed to overcome the July-August resistance line and finally closed above the horizontal 50-day MA in the 131.50 area. Bulls will remain in control as long as Pepsico is trading above the support in the 128.60/127.50 zone. The advance above 132.50 will open the way up to June and July highs in the 135.00 area.

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  3. #553
    pedagoreng is offline Senior Member
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    The USDCAD pair has been falling. Traders are waiting for the American consumer confidence release. If the data isn't encouraging, the downward movement will continue.

    As soon as the pair crosse 1.3226, we can anticipate a further decline to the support at 1.3215. In the case of the weak USD, the pair will move further down to 1.3197.

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  4. #554
    pedagoreng is offline Senior Member
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    Trade idea

    BUY 1.8250; TP 1.8370; SL 1.8210

    GBP/AUD is a very volatile pair and its moves are always quite messy. Still, we are able to spot some patterns. In particular, GBP/AUD broke above 1.8015 leaving the range within which it consolidated since the start of July.

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  5. #555
    pedagoreng is offline Senior Member
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    Trade idea

    SELL 1.6100; TP1 1.6060; TP2 1.5980; SL 1.6120

    GBP/CAD tried to recover in August, but its progress wasn’t very impressive. A “Dark Cloud Cover” pattern was formed on the W1. The declining 50-day MA is providing resistance at 1.6255. The decline below the last week’s lows in the 1.6135 area opens the way down towards 1.6060 (61.8% Fibo of the August advance) and 1.5980 (78.6% Fibo). Notice that there will be a lot of political challenges for the GBP in the upcoming days. The rise back above 1.6255 is needed to allow a retest of 1.6355 (August highs).

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  6. #556
    pedagoreng is offline Senior Member
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    Trade idea

    SELL 116.20; TP 115.40; SL 116.60

    The current risk aversion is encouraging the safe-haven demand for the JPY, while the weakness of the euro area’s economy is hurting the EUR. As a result, EUR/JPY will likely remain under pressure. Last week’s attempt of the pair to recover failed. Now there are all reasons to expect the continuation of the slide to lower levels, especially as long as the euro remains below the weekly pivot point at 117.18. The evident target is the 78.6% Fibonacci retracement level of the 2016-2018 advance at 115.40.

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  7. #557
    pedagoreng is offline Senior Member
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    Trade ideas

    SELL 5.6400; TP1 5.6165; TP2 5.5900; SL 5.6550

    BUY 5.7100; TP 5.8000; SL 5.6800

    USD/TRY has formed a big “shooting star” candlestick on the W1 last week. A similar formation is visible on the D1. The daily Awesome Oscillator is going down, so it’s natural to expect the continuation of the move down towards the July lows and the 200-day MA in the 5.5890/5.5770 area. The 50-day MA may at 5.6520 provide some support, so our short entry is located below this line. On the other hand, the return above 5.70 is needed for another round of the greenback’s strength.


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  8. #558
    pedagoreng is offline Senior Member
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    Trade idea

    SELL 0.8985; TP 0.8920; SL 0.9005

    An attempt of EUR/GBP to break higher earlier this week has been rejected: the advance stopped at 0.9150. The pair has breached the previous bullish channel. It is now just above the key support of 0.9000 (38.2% Fibo of the March-August decline). The decline below this level will open the way down to 0.8920/00 (the 100-day MA and 50% Fibonacci level). If the euro attempts to recover, it will meet resistance in the 0.9065/9100 area.

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  9. #559
    pedagoreng is offline Senior Member
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    Trade ideas

    SELL 1.3150; TP 1.3120; SL 1.3165

    BUY 1.3205; TP 1.3240; SL 1.3190

    Last week USD/CAD was rejected on the upside: the pair failed to settle above 1.3350. Instead, it turned down breaking below the 50-week MA and all the 200-, 100- and 50-day Moving Averages on the D1. As a result, the pair ended the week below the range within which it was consolidating in August. The CAD is supported by the stabilization in oil prices and can appreciate more pulling the pair further down. The decline below the 61.8% Fibo level of the July-September advance at 1.3155 will lead USD/CAD down to 1.3120/00. Notice, however, that the level of 1.3120 represents important support: here’s the 200-week MA and the 50-month MA. On the upside, the return above 1.3190 is needed to open the way to 1.3240.

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  10. #560
    pedagoreng is offline Senior Member
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    AUD/CHF closed higher


    Trade idea

    BUY 0.6800; TP 0.6860; SL 0.6780

    On Monday, AUD/CHF broke above the line connecting April and July highs at 0.6785 and managed to close the day above it. The move happened as the market’s risk sentiment improved. In the short-term, the Aussie met resistance at 0.6820. Still, the positive setup we see in Moving Averages on H4 and H1 allows us to believe that the bearish correction will only be temporary and the pair will ultimately reach 0.6860 on the upside (78.6% Fibo of the July-August decline; 100-day MA). The return below 0.6775 will open the way down to 0.6750 (50-day MA).

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