Exness Technical Daily

[meeru]

NZDUSD profit target reached twice, remain bearish

NZDUSD
Oct. 10, 2016, 04:59
Sell below 0.7200. Stop loss at 0.7225. Take profit at 0.7120.

Reason for the trading strategy (technically):

Price dropped perfectly to our profit target before bouncing up to our selling area and dropping once again to our profit target for a double profit day. We look to continue to sell below major resistance at 0.7200 (Fibonacci retracement, pullback resistance) for a further drop to 0.7120. Stop loss is at 0.7225 which is a major resistance level. *Take profit is at a major support level (2 time Fibonacci projection, Fibonacci retracement).

RSI (34) is on descending resistance.

 

[meeru]

USDJPY profit target reached, time so start buying

USDJPY
Oct. 10, 2016, 04:57
Buy above 102.75. Stop loss at 101.85. Take profit at 104.20.

Reason for the trading strategy (technically):

Price has reached our profit target once again from Friday for the third time in a row. We turn bullish above 102.75 major support (Fibonacci retracement, Fibonacci projection, horizontal support) for a push up to 104.20 once again.

RSI (34) is approaching long term ascending support.

Stochastics (21,3,3) is approaching major support at 4%.

 

[meeru]

EURUSD profit target reached again, prepare to buy

EURUSD
Oct. 11, 2016, 04:06
Buy above 1.1130. Stop loss at 1.1100. Take profit at 1.1205

Reason for the trading strategy (technically):

Price reached our profit target for the fourth time in a row. We now look to buy above 1.1130 major support (Fibonacci projection, Fibonacci retracement) for a push up to 1.1205 target.

Stochastics (21,3,3) is above 6% support where multiple bounces have occurred previously.

Reason for the trading strategy (fundamentally):

The main news event driving EUR today is the ZEW Economic Sentiment Index which measures the level of optimism that analysts have about current economic situation and expected economic developments for the next 6 months.*Forecasts are pointing to a positive figure which means an optimistic outlook leading to a strengthening of the EUR. This goes in line with our bullish view we have on EURUSD.

 

[meeru]

EURJPY close to major resistance, prepare to sell

EURJPY
Oct. 11, 2016, 04:04
Sell below 115.75. Stop loss at 116.34. Take profit at 114.50.

Reason for the trading strategy (technically):

Price is close to major resistance at 115.75 (Fibonacci retracement, Fibonacci projection, horizontal overlap resistance) where we expect a reaction from and a drop to 114.50.

RSI (34) has made a bearish channel exit signalling a bearish move is in being triggered.

Reason for the trading strategy (fundamentally):

The main news event driving EUR today is the ZEW Economic Sentiment Index which measures the level of optimism that analysts have about current economic situation and expected economic developments for the next 6 months.*Forecasts are pointing to a positive figure which means an optimistic outlook leading to a strengthening of the EUR. This goes against our bearish EURJPY view so it’s important to exercise caution here.

 

[meeru]

AUDNZD profit target reached again, time to start selling

Cross rate
Oct. 11, 2016, 03:57
Sell below 1.0700. Stop loss at 1.0750. Take profit at 1.0575.

Reason for the trading strategy (technically):

Price reached our profit target perfectly from yesterday again. We prepare to sell at major resistance at 1.0700 (Fibonacci projection, Fibonacci retracement) for a drop to 1.0575.

RSI (34) is below long term descending resistance line.

 

[meeru]

AUDNZD profit target reached perfectly. Time to sell for a drop

Cross rate
Oct. 17, 2016, 04:38
Sell below 1.0763. Stop loss at 1.0829. Take profit at 1.0655.

Reason for the trading strategy (technically):

Price has made a push up to our profit target from Friday and reached it perfectly. Time to sell below 1.0763 major resistance (channel resistance, Fibonacci projection) for a drop to 1.0655.

RSI (34) is reacting off descending resistance line

Stochastics (21,5,3) is also reacting off a major area of resistance.

 

[meeru]

AUDUSD above major support, prepare to buy

AUDUSD
Oct. 17, 2016, 04:40
Buy above 0.7590. Stop loss at 0.7556. Take profit at 0.7649.

Reason for the trading strategy (technically):

Price is right above major support at 0.7590 (Fibonacci retracement, horizontal overlap support, Fibonacci projection) where we expect a bounce from and a push up to 0.7649.

RSI (34) is on pullback support where we expect a bounce from.

 

[meeru]

EURJPY profit target reached, turn bullish

Cross rate
Oct. 17, 2016, 04:42
Buy above 114.11. Stop loss at 113.34. Take profit at 116.19.

Reason for the trading strategy (technically):

Price dropped perfectly as expected and reached our profit target. We turn bullish above 114.11 major support (Fibonacci retracement, Fibonacci projection, horizontal support) for a push up to 116.19.

RSI (34) is on support

Stochastics (21,5,3) is also on support signalling a bounce is impending.

 

[meeru]

NZDUSD still at resistance, continue to sell

NZDUSD
Oct. 17, 2016, 04:43
Sell below 0.7126. Take profit at 0.6956. Stop loss at 0.7209.

Reason for the trading strategy (technically):

We look to sell below major resistance at 0.7126 (Fibonacci retracement, pullback resistance) for a push down to 0.6956.

RSI (34) is below long term descending resistance line.

Stochastics (21,5,3) is below major resistance at 90% too.

 

[meeru]

USDJPY prepare to turn bearish

USDJPY
Oct. 17, 2016, 04:45
Sell on break of 103.93. Take profit at 103.17. Stop loss at 104.55.

Reason for the trading strategy (technically):

We prepare to sell once price breaks the 103.93 support on USDJPY (Fibonacci retracement, horizontal support) for a push down to 103.17.

RSI (21) is below resistance

Stochastics (21,5,3) is approaching major resistance at 94%.