NZDUSD
April 12, 2017, 04:55
Buy above 0.6949. Stop loss at 0.6884. Take profit at 0.7092.
Reason for the trading strategy (technically):
Price is testing major support at 0.6949 (Fibonacci retracement, horizontal overlap support, bullish divergence) and we remain bullish above this level for a push up towards 0.7092 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,5,3) is seeing strong support above 6.69% and also displays bullish divergence vs price signalling that a bounce is impending.
AUDUSD
April 12, 2017, 04:53
Buy above 0.7492. Stop loss at 0.7453. Take profit at 0.7561.
Reason for the trading strategy (technically):
We remain bullish above major support at 0.7492 (Fibonacci retracement, horizontal swing low support, bullish divergence) and we expect to see a bounce above this level to 0.7561 resistance (Fibonacci retracement, horizontal overlap resistance).
RSI (34) seeing major support above 34% and also displays bullish divergence vs price signalling that a bounce is impending. We also see a recent bullish exit giving us additional weight to our bullish move.
USDCAD approaching major resistance, prepare to sell
USDCAD
April 17, 2017, 06:03
Sell below 1.3356. Stop loss at 1.3402. Take profit at 1.3271.
Reason for the trading strategy (technically):
Price is approaching major resistance at 1.3356 (Fibonacci retracement, horizontal overlap resistance) where we expect a reaction from for a drop to at least 1.3271 support (Fibonacci retracement).
Stochastic (34,5,3) is seeing major resistance below the 94% level.
AUDNZD
April 17, 2017, 05:51
Buy above 1.0766. Stop loss at 1.0695. Take profit at 1.0896.
Reason for the trading strategy (technically):
Price has started to bounce really nicely above our buying area. We remain bullish above 1.0766 major support (Fibonacci retracement, horizontal overlap support, bullish exit) for a push up to 1.0896 resistance (Fibonacci retracement, horizontal overlap resistance).
RSI (34) is seeing strong support above our ascending support line signalling that a further rise is expected.
AUDJPY
April 19, 2017, 04:26
Buy above 81.79. Stop loss at 82.89. Take profit at 81.30.
Reason for the trading strategy (technically):
Price is now testing major support at 81.79 (Fibonacci extension, horizontal support) and we expect to see a bounce above this level to at least 82.89 (Fibonacci retracement, horizontal overlap resistance). Stop loss is at 81.30 because it is a Fibonacci extension level based on Elliott Wave theory.
Stochastic (34,5,3) is seeing strong support above the 3.8% level where we expect another bounce from.
AUDJPY
April 21, 2017, 06:12
Buy above 81.79. Stop loss at 82.89. Take profit at 81.30.
Reason for the trading strategy (technically):
Price has bounced up perfectly from our buying area and is approaching our profit target. The goal today is to remain bullish looking to buy on dips above major support at 81.79 (Fibonacci extension, horizontal support, bullish divergence) and we expect to see a bounce above this level to at least 82.89 (Fibonacci retracement, horizontal overlap resistance). Stop loss is at 81.30 because it is a Fibonacci extension level based on Elliott Wave theory.
Stochastic (34,5,3) still sees a bit more upside potential below it reaches its resistance at 91%. This is in line with the rise we’re expecting on AUDJPY.
NZDUSD
April 21, 2017, 06:10
Buy above 0.6985. Stop loss at 0.6934. Take profit at 0.7092.
Reason for the trading strategy (technically):
We remain bullish looking to buy on dips above 0.6985 support (Fibonacci retracement, horizontal overlap support) for a further push up to 0.7092 resistance (Fibonacci extension, Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,5,3) is seeing strong support above the 3.9% level where we expect a further bounce from.
Buy above 0.9959. Stop loss at 0.9925. Take profit at 1.0012.
Reason for the trading strategy (technically):
Price has bounced off our buying area perfectly and is on track to our profit target. We remain bullish above 0.9959 support (Fibonacci retracement, horizontal overlap support, bullish divergence) for a push up to 1.0012 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (55,5,3) is seeing strong support above the 2.5% level and also displays bullish divergence vs price signalling that a bullish reversal is impending. There is a bullish exit signalling that further upside momentum is expected along with price shooting up.
AUDJPY profit target reached perfectly, time to sell
AUDJPY
April 24, 2017, 06:00
Sell below 83.92. Stop loss at 84.51. Take profit at 82.43.
Reason for the trading strategy (technically):
Price has gapped up and reached our profit target perfectly this morning. We prepare to sell below 83.92 resistance (Fibonacci retracement, horizontal resistance, bearish divergence) for price to drop down towards 82.43 (Fibonacci retracement, horizontal pullback support, price gap) to fill up the gap that has been created.
Stochastic (55,5,3) is seeing strong resistance below 91% and also sees bearish divergence vs price signalling that a bearish reversal is impending.
NZDUSD
April 24, 2017, 05:58
Buy above 0.6985. Stop loss at 0.6934. Take profit at 0.7092.
Reason for the trading strategy (technically):
Price has touched our buying area and shot up as expected. We remain bullish looking to buy on dips above 0.6985 support (Fibonacci retracement, horizontal overlap support) for a further push up to 0.7092 resistance (Fibonacci extension, Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,5,3) is seeing strong support above the 3.9% level where we expect a further bounce from. Next resistance level is 96% and we still have good upside potential before stochastic reaches that level.
