CHFJPY is in price action and it may reverse to bearish according to price action and candle setup. Because same price level has acted as a strong resistance earlier in November 14 as well. Please find the chart as below,
ijayakumar's Blog
Wait for AUDCAD bullish signal
AUDUSD showing a sign off halt coming in, yet the sellers are trying to push the price further low. But it seems like we can expect a counter turn from AUD soon.
We will try to find a better pair for AUD bullish which is AUDCAD. According to AUDCAD technical, 0.9620 - 0.9640 range is better area to look for bullish signal and enter if there is right evidence of bullishness.
We will try to find a better pair for AUD bullish which is AUDCAD. According to AUDCAD technical, 0.9620 - 0.9640 range is better area to look for bullish signal and enter if there is right evidence of bullishness.
NZDCHF seem to be falling in downtrend
NZDCHF seems to be falling in downtrend further based on the technical analysis. 4HR chart shows bearish momentum below 0.6882. If happens, the bearish run may extend upto 0.6820 keeping 0.6940 as Stop loss.
AUDUSD finding it's momentum
AUDUSD pair faced severe selling against USD since the start of this week. It may seemed as it may cause more breakness, as the China fundamental also seemed to have some break. Luckily, China Money stock and other fundamentals were good which caused the Aussie to find a support at 0.745 region. As consecutive daily candle used the same price range as support, it may well resume the bullishness soon. Please find the daily chart analysis of AUDUSD,
USDMXN posting highs ahead of quite US data
USD is gaining some buyers attention though the US business optimism posted below than expected. This may be because of the fact that the buyers may be foreseeing the interest rate hike or they might have thought that the USD is oversold. Anyways, USD finds some momentum now and posted some highs, but does it have enough to continue posting green candles. 19.206 may be the important price action for USDMXN. In line with that please find the daily chart of USDMXN,
NZDCAD setting up for bearishness
NZDCAD was in a complete control in taking up until last week where numerous decline happened in 0.96 area. Considering the first rejection on 7th September after posting big green candle suggest a weakness and continous declined candle in following days and further bearishness proves that currently this pair is still in oversold area and possible weakness may continue for some more time. In line with that, if we analyze the 4 HR chart, price action below 0.955 region from here will weaken this …
USDZAR bearish trend may continue
USDZAR were in such a down trend for last couple of months, before stopping it from proceeding further decline in August 2nd week. Since that this pair was trying to counter back and post few green candles and form a bullish channel. However the steep decline happened till August 2nd week denotes that USD is very much weak towards ZAR. In that aspect after last week consecutive daily green candles, it may well be time to continue the bearish run again. In line with that please find the hourly ch…
Difference between conviction and hope
I have been trading in forex for more than a year now and I have learned so many things so far, as falling on the 90% is too easy. One of that is, "hope" trade. Even the best trader makes this mistake when the market behaves strange or faces few consecutive failures. It's just a small difference between "conviction" and "hope". Conviction means you have enough evidence and analysis to foresee a move whereas "hope" will just depends on luck with or without partial analysis.
This week I have trade…
This week I have trade…
USDTRY seem to find some consecutive bulls
USDTRY just at the verge of the current bullish channel bottom. We can even say that channel had been broke down a little. But just when it seem like it's going to be bearish from technicals, USD posted some consecutive green candles to promise on staying in the bullish channel. If we find further bullishness in this pair in next 2 days, then it may well be possible for some good bullish move. Please find the daily chart analysis of USDTRY,
USDSEK seems to pickup a wing
USD was completely bearish against exotic pairs for last few months. But now with the crude oil and gasoline inventory, the USD has found some buyers which posted an engulfing bullish candle. Engulfing bullish candle often produces more move when it happens and hence we may see some bullish moves from USD before the end of the week, if Risk off happened or USD find some momentum. In line with that please find the 4HR chart analysis of USDSEK,