Exness Technical Daily

[meeru]

AUDNZD remain bullish for a strong push up

AUDNZD
April 10, 2017, 03:27
Buy above 1.0800. Stop loss at 1.0760. Take profit at 1.0896.

Reason for the trading strategy (technically):

Price reversed perfectly above our stop loss. We remain bullish above major support at 1.0800 (Fibonacci extension, horizontal support, bullish divergence) where we expect a bounce up to at least reach the 1.0896 resistance (Fibonacci retracement, horizontal overlap resistance).

Stochastic (34,5,3) is seeing strong support above the 3.3% level and also displays bullish divergence vs price which signals that a bullish reversal is impending.

 

[meeru]

USDJPY at major resistance, time to sell

USDJPY
April 10, 2017, 03:22
Sell below 111.45. Stop loss at 111.76. Take profit at 110.28.

Reason for the trading strategy (technically):

Price is now testing major resistance at 111.45 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) where we expect a strong reaction from for a drop towards 110.28 support (Fibonacci extension, horizontal support).

Stochastic (34,5,3) is seeing strong resistance below the 93% level where we expect a drop from.

 

[meeru]

USDCHF at major resistance, remain bearish

USDCHF
April 7, 2017, 04:23
Sell below 0.9991. Stop loss at 1.0040. Take profit at 0.9923.

Reason for the trading strategy (technically):

Price is now testing major resistance at 1.0068 (horizontal pullback resistance, Fibonacci retracement, bearish divergence) and we expect a drop to at least 0.9973 support (Fibonacci retracement, bearish divergence potential).

Stochastic (34,5,3) is seeing strong resistance below the 91% level and bearish divergence vs price signalling a major reversal is impending.

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. Arguments in favour of stronger payrolls include challenger reporting significantly smaller rise in layoffs, ADP reports 263K vs 245K, ISM manufacturing employment strongest since November 2013, rise in University of Michigan Consumer Sentiment Index and Conference Board Consumer Confidence Index hits 17 year high. Overall, we should expect a strong USD and since this is against our bearish USDCHF view, it is best to exercise caution on this trade.

 

[meeru]

NZDUSD still on major support, remain bullish

NZDUSD
April 10, 2017, 03:35
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.

 

[meeru]

AUDUSD on major support, time to buy

AUDUSD
April 10, 2017, 03:32
Buy above 0.7492. Stop loss at 0.7453. Take profit at 0.7561.

Reason for the trading strategy (technically):

Price is now testing 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.

 

[meeru]

GBPUSD profit target reached perfectly, prepare to buy

GBPUSD
April 10, 2017, 03:30
Buy above 1.2366. Stop loss at 1.2302. Take profit at 1.2448.

Reason for the trading strategy (technically):

Price has dropped perfectly and reached our profit target from previously. We now turn bullish above 1.2366 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support) for a push up to 1.2448 resistance (Fibonacci retracement, horizontal pullback resistance).

RSI (34) is seeing strong support at 39% where our previous major bounce occurred.

 

[meeru]

EURJPY on major support, time to buy

EURJPY
April 12, 2017, 04:58
Buy above 116.25. Stop loss at 115.12. Take profit at 118.21.

Reason for the trading strategy (technically):

Price is now testing major support at 116.25 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and we hope to see a bounce above this level towards 118.21 resistance (Fibonacci retracement, horizontal pullback resistance).

Stochastic (55,5,3) is seeing strong support above the 4% level where we similarly expect a bounce off.

 

[meeru]

NZDUSD still on major support, remain bullish

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.

 

[meeru]

EURUSD approaching strong resistance, prepare to sell


Sell below 1.0648. Stop loss at 1.0704. Take profit at 1.0570.

Reason for the trading strategy (technically):

Price is approaching major resistance at 1.0648 (Fibonacci retracement, horizontal pullback resistance) and we expect to see a reaction off this level for a push down to 1.0570 support (Fibonacci retracement, horizontal swing low support).

Stochastic (34,5,3) is seeing strong resistance below the 96% resistance where we expect to see a corresponding drop in price from.

 

[meeru]

EURJPY on major support, time to buy

EURJPY
April 12, 2017, 04:58
Buy above 116.25. Stop loss at 115.12. Take profit at 118.21.

Reason for the trading strategy (technically):

Price is now testing major support at 116.25 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and we hope to see a bounce above this level towards 118.21 resistance (Fibonacci retracement, horizontal pullback resistance).

Stochastic (55,5,3) is seeing strong support above the 4% level where we similarly expect a bounce off.