NZDUSD almost at profit target, prepare to turn bearish
NZDUSD
Oct. 31, 2016, 03:24
Sell below 0.7185. Stop loss at 0.7240. Take profit at 0.7113.
Reason for the trading strategy (technically):
Price has made a push up towards our profit target. We now turn bearish below 0.7185 major resistance (Fibonacci retracement, Fibonacci projection, horizontal overlap resistance) for a push down to 0.7113.
Stochastic (21) is right below major resistance at 93%.
Cross rate
Oct. 28, 2016, 04:04
Buy above 1.0650. Stop loss at 1.0610. Take profit at 1.0712.
Reason for the trading strategy (technically):
Price dropped perfectly to our profit target yesterday. We now play a bounce up from here above major support at 1.0650 (Fibonacci retracement, Fibonacci projection, horizontal support) for a push up to 1.0712.
Stochastic (34,5,3) is right on major support at 4%.
USDJPY
Oct. 31, 2016, 03:26
Sell below 105.40. Stop loss at 106.52. Take profit at 103.35.
Reason for the trading strategy (technically):
We remain bearish below major resistance at 103.40 (Fibonacci retracement, horizontal overlap resistance, channel resistance) for a push down to 103.35.
Stochastics (34,5,3) is also reversing off major resistance at 96%.
Cross rate
Oct. 31, 2016, 03:28
Buy above 79.16. Stop loss at 78.72. Take profit at 80.00.
Reason for the trading strategy (technically):
Price dropped perfectly to our profit target previously. We now turn bullish above major support at 79.16 (Fibonacci retracement, Fibonacci projection, horizontal support) for a push up to 80.00.
AUDNZD
Nov. 9, 2016, 04:35
Buy above 1.0477. Stop loss at 1.0430. Take profit at 1.0587.
Reason for the trading strategy (technically):
Price has bounced off major support at 1.0477 (Fibonacci retracement, Fibonacci projection, horizontal support) where we expect a bounce to at least 1.0587.
AUDUSD
Nov. 9, 2016, 04:39
Buy above 77.35. Stop loss at 0.7690. Take profit at 0.7800.
Reason for the trading strategy (technically):
Price has broken a major resistance-turned-support level at 0.7735 (Fibonacci projection, horizontal resistance) which has triggered our bullish move for a push up to 0.7800.
RSI (55) has also made a bullish exit signalling a change in momentum to a bullish momentum is in place.
NZDUSD still at major resistance, time to start selling
NZDUSD
Nov. 9, 2016, 04:45
Sell below 0.7345. Stop loss at 0.7375. Take profit at 0.7190.
Reason for the trading strategy (technically):
Price made a strong push up and is now at major resistance at 0.7345 (Fibonacci retracement, Fibonacci projection, horizontal resistance) where we expect a strong drop from here towards 0.7190.
RSI (34) is also at major resistance where the previous major reversal occurred.
NZDUSD still at major resistance, time to start selling
NZDUSD
Nov. 9, 2016, 04:45
Sell below 0.7345. Stop loss at 0.7375. Take profit at 0.7190.
Reason for the trading strategy (technically):
Price made a strong push up and is now at major resistance at 0.7345 (Fibonacci retracement, Fibonacci projection, horizontal resistance) where we expect a strong drop from here towards 0.7190.
RSI (34) is also at major resistance where the previous major reversal occurred.
USDJPY
Nov. 9, 2016, 04:46
Sell below 105.48. Stop loss at 106.07. Take profit at 103.37.
Reason for the trading strategy (technically):
We remain bearish below 105.48 (channel resistance, Fibonacci projection, horizontal resistance) for a drop to fill the gap last seen at 103.37.
RSI (34) sees descending resistance approaching which goes in line with the reversal we’re expecting.
