Exness Technical Daily

[meeru]

USDCHF profit target reached, time to start buying

USDCHF
March 13, 2017, 03:51
Buy above 1.0071. Stop loss at 1.0039. Take profit at 1.0124.

Reason for the trading strategy (technically):

Price dropped once again perfectly as expected and reached our profit target. We now turn bullish above 1.0071 support (Fibonacci retracement, horizontal support) for a push up to 1.0124 resistance (Fibonacci retracement, horizontal overlap resistance).

RSI (34) sees strong support above the 29% level and also sees bullish divergence vs price which signals a bounce is impending.

 

[meeru]

AUDJPY profit target reached perfectly, time to start selling

AUDJPY
March 13, 2017, 03:54
Sell below 87.04. Stop loss at 87.50. Take profit at 85.96.

Reason for the trading strategy (technically):

Price has shot up and reached our profit target perfectly. We now turn bearish below 87.04 resistance (Fibonacci retracement, descending resistance, recent swing high resistance) for a push down to 85.96 support (Fibonacci extension, horizontal swing low support).

Stochastic (55,5,3) is seeing major resistance below the 97% level.

 

[meeru]

AUDUSD testing major support, remain bullish

AUDUSD
March 13, 2017, 03:57
Buy above 0.7517. Stop loss at 0.7447. Take profit at 0.7632.

Reason for the trading strategy (technically):

We remain bullish looking to buy above 0.7517 support (Fibonacci retracement, horizontal overlap support) for a push up to 0.7632 resistance (Fibonacci retracement, horizontal overlap resistance).

RSI (34,5,3) is seeing bullish divergence vs price signalling a bounce is impending.

 

[meeru]

AUDUSD remain bullish

AUDUSD
March 10, 2017, 04:20
Buy above 0.7517. Stop loss at 0.7447. Take profit at 0.7632.

Reason for the trading strategy (technically):

We remain bullish looking to buy above 0.7517 support (Fibonacci retracement, horizontal overlap support) for a push up to 0.7632 resistance (Fibonacci retracement, horizontal overlap resistance).

Stochastic (55,5,3) is seeing strong support above the 6.4% level where we expect a bounce up.

Reason for the trading strategy (fundamentally):

The major news item driving USD today is the Nonfarm Payrolls. The Nonfarm Payrolls measures the change in the number of people employed during the previous month, excluding the farming industry. Job creation is the foremost indicator of consumer spending, which accounts for the majority of economic activity. A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD. We’re expecting generally a lower than expected reading in the region of 200K which makes for a bearish USD. This goes in line with our bullish AUDUSD view today.

 

[meeru]

AUDJPY bouncing up perfectly as expected, remain bullish

AUDJPY
March 10, 2017, 04:19
Buy above 86.07. Stop loss at 85.72. Take profit at 86.94.

Reason for the trading strategy (technically):

Price has bounced up perfectly as expected and has made a really nice bullish exit signalling a strong change in momentum. We remain bullish above major support at 86.07 (Fibonacci retracement, Fibonacci extension) for a bounce up to 86.94 resistance (Fibonacci retracement, swing high resistance).

Stochastic (55,5,3) has bounced off our support as expected and is displaying strong bullish divergence vs price.

 

[meeru]

USDJPY profit target reached perfectly, time to buy for a short push up

USDJPY
March 13, 2017, 03:43
Buy above 114.70. Stop loss at 114.24. Take profit at 115.48.

Reason for the trading strategy (technically):

Price dropped perfectly from our selling area and reached our profit target. Today we play the intermediate bounce up from 114.70 support (Fibonacci retracement, horizontal overlap support) for a push up to 115.48 resistance (long term resistance, Fibonacci extension).

Stochastic (21,5,3) is approaching support at 7.4% where we expect a further bounce from.

 

[meeru]

USDJPY remain bullish above strong support

USDJPY
March 21, 2017, 04:54
Buy above 112.53. Stop loss at 111.85. Take profit at 113.57.

Reason for the trading strategy (technically):

We remain bullish above 112.53 major support (Fibonacci extension, Fibonacci retracement) where we expect a bounce up to at least 113.57 resistance (Fibonacci retracement, horizontal overlap resistance).

Stochastic (21,5,3) is seeing strong support above the 4.6% level where we expect a bounce from.

 

[meeru]

NZDUSD dropping perfectly from our selling area

NZDUSD
March 21, 2017, 05:06
Sell below 0.7065. Stop loss at 0.7113. Take profit at 0.6968.

Reason for the trading strategy (technically):

Price has reached our selling area as expected and is seeing a nice bearish reaction below 0.7065 resistance (Fibonacci retracement, Fibonacci extension) where we expect a drop to at least 0.6968 support (Fibonacci retracement, recent swing low support).

Stochastic (21,5,3) sees major resistance at 95% and has bearish divergence vs price which signals a strong drop is impending.

 

[meeru]

AUDUSD profit target reached, prepare to sell

AUDUSD
March 21, 2017, 05:04
Sell below 0.7740. Stop loss at 0.7767. Take profit at 0.7663.

Reason for the trading strategy (technically):

Price has reached our profit target perfectly. We now prepare to sell below 0.7740 resistance (Fibonacci extension, horizontal resistance, bearish divergence) for a push down to 0.7663 support (Fibonacci retracement, horizontal overlap support). Stop loss is at 0.7767 (Elliott wave theory, Fibonacci extension) in case price makes a further push up before dropping.

Stochastic (21,5,3) is seeing resistance at 93% and also bearish divergence vs price.

 

[meeru]

USDCHF bouncing really nicely, remain bullish

USDCHF
March 21, 2017, 05:02
Buy above 0.9963. Stop loss at 0.9925. Take profit at 1.0058.

Reason for the trading strategy (technically):

Price continues to test major support around the 0.9963 area (Fibonacci retracement, fibonacci extension, horizontal swing low support) where we expect a bounce from to at least 1.0058 resistance (Fibonacci retracement, horizontal pullback resistance).

RSI (34) sees major support above the 29% level along with bullish divergence vs price suggesting a bounce is impending. A recent bullish exit configuration also signals a rise is going to be seen in price.