Exness Technical Daily

[meeru]

AUDJPY on major support, time to buy

Cross rate
Oct. 17, 2016, 04:46
Buy above 79.02. Stop loss at 78.53. Take profit at 79.98.

Reason for the trading strategy (technically):

Price is right above major support at 79.02 (Fibonacci retracement, Fibonacci projection, horizontal pullback support) where we expect a bounce and a push up to the 79.98 level.

RSI (55) is on pullback support signalling a bounce is impending from here.

 

[meeru]

AUDJPY remains bullish

Cross rate
Oct. 24, 2016, 03:13
Buy above 79.00. Stop loss at 78.42. Take profit at 80.00.

Reason for the trading strategy (technically):

We remain bullish above 79.00 support (Fibonacci retracement, horizontal pullback support, ascending support) for a push up to 80.00 level.

Stochastics (34,5,3) is bouncing above major support at 10%.

 

[meeru]

USDJPY remaining bullish for a further push up

USDJPY
Oct. 24, 2016, 03:10
Buy above 103.91. Stop loss at 103.22. Take profit at 104.85.

Reason for the trading strategy (technically):

Price has reached our profit target perfectly. We remain bullish above 103.91 support (pullback support) for a further push up to 104.85.

Stochastics (21,5,3) has made a bullish exit signalling a rise is in progress.

 

[meeru]

NZDUSD profit target reached perfectly, time to buy

NZDUSD
Oct. 24, 2016, 03:07
Buy above 0.7142. Stop loss at 0.7074. Take profit at 0.7252.

Reason for the trading strategy (technically):

Price dropped perfectly to our profit target as expected. We now turn bullish above major support at 0.7142 (Fibonacci retracement, Fibonacci projection, horizontal pullback support) for a push up to 0.7252.

Stochastics (34,5,3) is bouncing above major 4% support.

 

[meeru]

EURJPY profit target reached, time to buy

EURJPY
Oct. 24, 2016, 03:06
Buy above 112.65. Stop loss at 112.03. Take profit at 113.94.

Reason for the trading strategy (technically):

Price has dropped perfectly from our resistance level to our profit target on Friday. We turn bullish above 112.65 major support (Fibonacci projection, horizontal support, bullish divergence) for a push up to 113.94.

RSI (34) is seeing major support at 24% and has displayed bullish divergence vs price.

Stochastic (34,5,3) is above major support at 4% and also displaying bullish divergence vs price.

 

[meeru]

AUDUSD profit target reached again, time to buy

AUDUSD
Oct. 24, 2016, 03:04
Buy above 0.7583. Stop loss at 0.7550. Take profit at 0.7657.

Reason for the trading strategy (technically):

Price has dropped perfectly to our profit target on Friday once again. We prepare to buy above 0.7583 major support (Fibonacci retracement, Fibonacci projection, horizontal support) for a push up to 0.7657.

RSI (34) is right above major ascending support.

Stochastic (21,5,3) is right above major support at 9.2% where we expect a bounce from.

 

[meeru]

AUDNZD turn bearish below major resistance

Cross rate
Oct. 24, 2016, 03:02
Sell below 1.0632. Stop loss at 1.0665. Take profit at 1.0563.

Reason for the trading strategy (technically):

We turn bearish because of new elements being shown. Idea is to sell below major resistance at 1.0632 (Fibonacci retracement, horizontal resistance) for a push down to 1.0563 major support.

Stochastics (34,5,3) is facing descending resistance and sees good downside potential to 8%.

 

[meeru]

AUDNZD above major support, prepare to buy

Cross rate
Oct. 31, 2016, 03:16
Buy above 1.0578. Stop loss at 1.0530. Take profit at 1.0646.

Reason for the trading strategy (technically):

Price is approaching major support at 1.0578 (Fibonacci projection, Fibonacci retracement, horizontal overlap support) where we expect a bounce from to at least 1.0646.

Stochastic (34,5,3) is right on major support at 4%.

 

[meeru]

AUDUSD bounced off major support as expected, remain bullish

AUDUSD
Oct. 31, 2016, 03:18
Buy above 0.7560. Stop loss at 0.7506. Take profit at 0.7650.

Reason for the trading strategy (technically):

Price dropped perfectly to our major support at 0.7560 (Fibonacci projection, Fibonacci retracement) as expected where we expect a bounce up from towards 0.7652.

RSI (34) is above long term ascending support.

 

[meeru]

Gold profit target reached, turn bearish

XAUUSD
Oct. 31, 2016, 03:20
Sell below 1284. Stop loss at 1296. Take profit at 1262.

Reason for the trading strategy (technically):

Price made a push up to our profit target of 1280 from our analysis on 12th October 2016. We now turn bearish below major resistance at 1284 (Fibonacci retracement, Fibonacci projection) for a push down to 1262.

RSI (55) is also below long term descending resistance.