Showing posts with label EURUSD. Show all posts
Showing posts with label EURUSD. Show all posts

Saturday, May 3, 2014

Bullish and Bearish Triangular cycles completed for the EURUSD and USDCHF respectively.

 The EURUSD chart above shows the complete formation of a triangular cycle. (The triangular cycle is a new concept I had been working on) We can see that there had been a previous setup of it between Feb 12 and March 5th 2014 which delivered a measure of pips. We are also expecting that this setup would deliver pips. Price should aim to make a new high in the coming week and our last target is at about 1.4020.

USDCHF has also signaled to go short after it also completed a triangular cycle. The triangular cycle is usually kick started when market gives of a hidden divergence (A hidden divergence is a trend continuation setup). We are expecting lower prices in the new week.



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Thursday, May 1, 2014

EURUSD BREAKS OUT OF DESCENDING TRENDLINE



EURUSD has broken out from its upper trendline which had been containing the pair and preventing it from moving further long, however, this was expected since price had given off a bullish hidden divergence on its wake. The way now seems clear for price to retest previous highs and possibly setting new ones. The trade room had gone long based on the cup and handle trade setup that was discussed April 24th.



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Thursday, April 24, 2014

EURUSD looks set for further bullish activity.

EURUSD as depicted in the figure above has run into a cup and handle trade setup. This is a bullish trade setup and price has already made a failed attempt to break through the horizontal/round number support. All these point to a possible further bullish drive on this pair in the coming days. Price could target previous highs.


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My Price action Trade Technique has been upgraded with the introduction of an equally simple but very effective Trade Setup called the CUP Trade Setup.

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Sunday, January 19, 2014

Markets Price Action and Formations: THE WEEK AHEAD JAN 20 - 24 2014. EURAUD EURNZD EURUSD GBPCHF NZDUSD

EURAUD remains bullish as price continues to soar after brief retraces. This bullish bias remains in the comming week as we would be looking to buy into the up trend if price falls into our critical bullish entry zones between 1.5000 - 1.5200.

EURNZD looks set to continue in its more dominant bullish trend after price gave off a Pin bar as it fell into its bullish entry zone. Friday's bar further proves this as it took out the stops of traders who may have gone short based on the Pin bar of the previous day. 1.6700 is the projected conservative take profit zone.

EURUSD now approaches it Bullish entry zone. Entries could be made with a pending order or for the less aggressive trading, after the formation of a significant Trade Setup.

 GBPCHF bounced strongly off its bullish entry point maintaining its bullish trend.

NZDUSD is a few pips away from its bullish entry zone. The trend on this pair remains bullish and buyers should find this zone significantly interesting for placement of buy orders. The less aggressive trader will probably wait for a trade setup at this zone.

Sunday, January 12, 2014

Markets Price Action and Formations: THE WEEK AHEAD JAN 13 - 17 2014. NZDUSD EURAUD EURJPY EURUSD GBPUSD GBPNZD

 NZDUSD gave bounced off its support/Entry Zone as buyers jumped in at the chance to move long with the pair in a 1, 2, 3 triggered bullish price formation. The 123 price formation/price action trade setups give the savvy price Action trader an edge in making market decisions. 0.8511 is the key target for the expected bullish move.

 EURAUD is still very much in an uptrend though there now is significant threat to its continuation after price failed to continue lonng after hitting the bullish entry zone. A break below the minor support would initiate a possible change in trend.

 EURJPY still looks significantly bullish as price broke through and still trades above the recommended entry zone. Price should continue long in the coming week.

The euro has bounced off its support/bullish entry point following a 1 2 3 price formation it gave off at the formation of the IPB (Inside Pin Bar) at about December 2014. The CPR (Closing Price reversal Price Action setup now sets the tone for a resumption of the more dominant bullish trend.

 
GBPNZD faced support as it traded into its bullish entry zone (My entry zones are determined by the breakout point of a previous 1 2 3 price formation). Price is expected to resume another bullish run based on this. Further more, price also broke out from the cluster of inside bars at that zone.

I have maintained that the GBPUSD is bullish with no sign yet of it slowing down yet. Price has once again bounced off support/entry zone, setting up even another 1 2 3 formation and a break of the entry trigger at the tip of the recent pin bar would set the pair up for another leg of the bullish run.



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Sunday, January 5, 2014

Markets Price Action and Formations: THE WEEK AHEAD JAN 6 - 10, 2014. AUDUSD CADCHF EURUSD GBPCHF GBPUSD

AUDUSD has given off a double bottom after price fell to its critical Support zone. This zone looks like interesting buyers into action however care must be taken in making bullish entries. Intraday time frames would be key in making these counter trend bullish entries.

CADCHF outlook remains bearish until its key resistance is broken though we may see some corrective bullishness in the coming week or weeks until about the marked key resistance zone above.

EURUSD outlook also remains bullish as price looks to continue to bounce off the lower trend-line as shown above. At the moment though, corrective sell off entries could still be sort as price aims towards its support zone.

The trade room made a huge catch on pips on the GBPCHF just before the close of the year after price bounced off a rising trendline. Outlook remains bullish though new entries on intra-day time frames could still be sort.

GBPUSD remains bullish and the Trade Room continues to look for good setups to long this pair. Price is currently within support zone and the daily or 4hr time frames may offer reasonable entry setups.


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Sunday, December 8, 2013

Markets Price Action and Formations: THE WEEK AHEAD DEC 9 - 13, 2013. CADCHF EURNZD EURUSD NZDCHF NZDJPY

CADCHF has continued to move southwards inline with its recent trend. I have taken time to give a slightly different insight into what the markets are doing with respect to Price Formations. The head and shoulder Price formation which I also like a lot seem to have triggered the recent bearishness.


EURNZD has shown a reluctance for the recent bullishness to continue. We now have a the formation of a head and shoulder, with the second shoulder showing Pin bar rejection candles. It this setup pulls off, it still could be contained within the symmetric triangle formed from the recent and previous head and shoulder price formations.

 EURUSD gave off another Bullish Pin Bar at trend-line support after the initial one which is shown in the chart above. EURUSD is in no doubt bullish mood and though the trade rooms previous bullish entries had hit TP, we still look for new bullish entries on retracements.

 NZDCHF chart shows a pair which has broken through trend-line. Though we have a counter trend Pin Bar at the moment which could move the pair higher in a corrective buy off, more sustainable entries would be sort as the pair buys corrective into 0.8750 area.

After NZDJPY made a bullish break of its trendline, bias on the pair changed to bullish. And there had been two good possible entries. We still buy on any decent retrace into this pair.

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Sunday, October 6, 2013

The Week Ahead 7 - 11 Oct., 2013: EURNZD EURJPY EURUSD Price Action Trade Setups

 EURNZD gave off an inside Pin Bar after price has looked to have sliced through Support at about 1.6300. That Price Action Pattern lead the way to some pullback. But when managed to break and close above the previously broken Support to the upside yet again, the bias tilted from expecting more bears to expectation of a new round of bulls. Expectations are for price to reach towards 1.6800 Psychological resistance.

 EURJPY should continue moving southwards following the double daily Pin bars it gave off last week. Reaching support at about the 130.00 Psychological Support remains feasible.

EURUSD gave off a Pivot Top price Action Trade Setup. This setup gives us a bearish bias going into the new week however, further confirmation would be sort on the 4hr time frame before any new sell entries can be made.

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Tuesday, September 10, 2013

EURUSD PRICE ACTION: Inside Bar Trade Setup


The Euro has given off an Inside Bar Price Action Trade Setup after price faced support at the 1.3100 Psychological Support. A Closing Price Reversal Trade Setup had set the tone for the recent continuation of the more dominant bullish trend of the pair. The Inside bar should thus act as further catalyst for buying pressure, in line with the expected bullish trend continuation.

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Sunday, August 18, 2013

EURUSD PRICE ACTION: Against Market Open, Failure Swing Low/Fakey Trade Setup. August 18, 2013

 Though trading on friday ended with what looked like a Pin bar, the momentum on the pair at the moment is still very bullish therefore, we will keep to the tradition of staying with the dominant trend, which is yet bullish on the EURUSD. Its important to note also that we still have the Fakey/Failure Swing Low (a bullish trade setup) yet to fully play out. We will therefore remain on the bulls until we get a clearer bearish setup on the pair.

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Friday, August 16, 2013

EURUSD PRICE ACTION: Fakey Price Action Trade Setup. August 15, 2013.

EURUSD found support as it traded into the projected demand zone, facing immense buying pressure as it did, taking out out all of the previous 3 days bearishness. This new bullish momentum should carry us into 1.3400 and a break could lead us as far as 1.3700.

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Sunday, August 11, 2013

EURUSD Price Action: Against Market Open, August 11, 2013. Inside Bar Price Action Trade Setup,

 The Euro finally made it to the 1.3400 psychological level but lost some of its bullish steam as it did. Traders took profits from their bullish entries and we ended up with an Inside Bar Price Action Sell Trade Setup. Though the trend remains bullish, price could let out some of the overbought pressure on the pair. Buy entries should resume at about the 1.3200 level. Therefore, Price action Buy Setups would be sort at about that zone.

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Tuesday, August 6, 2013

EURUSD PRICE ACTION: Closing Price Reversal Trade Setup. August 06, 2013

 EURUSD could push higher following the pairs reluctance to close below the Support Zone. A Closing Price Reversal from Friday's at its Support Zone also points to further bullishness. Traders could look to make intraday buy entries at about london open tomorrow pending price action. Another pointer to a possible bullish scenario, is the the higher high made by the pair in today's trading.

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Sunday, August 4, 2013

EURUSD PRICE ACTION: The Week Ahead, August 4 - 9, 2013

 The eurusd had shown appreciable bullish strength until price approached its intersection point towards the end of last week. In my daily analysis, I had pointed out that price had broken out of its trend-line, which was a sign to liquidate all previous bullish entries. I had in-fact given a sell trade signal, which was later cancelled in the trade room, to allow for the possible exhaustion of another emerging leg of a bullish alert. The daily chart of the new week will be of great focus to see if there will be any significant price action sell setups. But in the event that we get a break of the intersection instead, we then would be in possibly for an extended bullish run.

My Recommendation: Stay neutral

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Friday, August 2, 2013

EURUSD 4 Hour Price Action: Update on 4hour Hidden Fakey trade setup. August 2, 2013

 I just wanted to point out how we get in and out of trades using just price Action and not relying on any of those lagging indicators. 

We had gone short based on the initial Hidden Fakey trade Setup discussed earlier today but as the bearish move stalled, we spotted a potentially significant bullish signal. and with the NFP just around the corner, I made a call to the trade room to liquidate the trade at break even.

The chart above tries to explain the reason I had to liquidate the trade.

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EURUSD Price Action: 4 Hour Hidden Fakey Trade Setup, August 1, 2013

The Daily chart of the euro above indicates that eurusd has broken bearishly through trend-line,  therefore, the bias on the pair immediately shifts from bullish to bearish. Support Zone is seen from about 1.2981. All previous long entries should be liquidated while fresh short entries are sort. The 4hour chart below shows how the trade room took advantage of the 4 hour intraday price action.
 
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The trade room took advantage of the Hidden Fakout Setup on the 4 hour time frame as price made a failed attempt to continue bullish following the Pin Bar that was spotted at about US open. The counter sell entry was made instead as price was stopped by the dynamic resistances. Stops are just above the Trigger candle while we at least expect a 1:2 risk/reward on this trade.

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Tuesday, July 23, 2013

EURUSD Price Action: Euro hits Resistance (Supply Zone). July 23, 2013

In the last commentary I ran on the euro on July 18, I did mention that the pair was yet bullish, despite trading deep into its supply zone (Resistance). The outcome has been the continued dominance of the bulls over the bears, however, after the pair failed to trade significantly higher from the previous days high, I would recommend a scaling out of long entries. The bullish bias remain and re-entries could be sort on retracements back into its demand zone as indicated above.

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Sunday, July 21, 2013

EURUSD DAILY Price Action: Pulls higher after July 18 Pin Bar. July 21, 2013

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The EURO is on a bullish run. Despite being deep within its supply zone, buyers still seem to have an upper hand in the market and if the pressure is sustained, price could push out from this zone and into even higher prices. The entire scenarion is supported with the presence of a Pin Bar after the close of market on Thursday, July 18.

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Tuesday, July 16, 2013

EURUSD Price Action: Pulls higher after Fakey with Pin Trade Setup pulls higher. July 16, 2013


EURUSD has continued to trade higher following the Fakey with Pin Price Action Trade Setup, with the pair succesfully shaking off its previous bearish undertone after it hit its Key Support (Demand Zone). The trade room managed to get in on a trade off the one hour time frame as its PA presented an oppurtunity to go long which was in tandem with the daily Setup. Price could now target its Key resistance (Supply Zone) if it manages to break the previous week's high.

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Monday, July 8, 2013

EURUSD Price Action: Inside Bar Price Action Setup, 08 July, 2013

The Euro seem to have found support at a previous demand zone. This zone has been very significant in recent times as price had twice this year, failed to break below this level. Therefore, the inside bar price Action Setup formed at this zone at the close of the US session today, could be the trigger for a change in trend however, the major trend on the pair remains bearish, unless price is able to break above the supply zone as indicated above. Meanwhile as the pair rotates higher, Sell Setups would be sort at about that Supply zone, if price fails to trade above it.

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