Exness Technical Daily

[meeru]

EURUSD remain bearish preparing to sell on the break of support

EURUSD
April 28, 2017, 04:46
Sell below 1.0859. Stop loss at 1.0913. Take profit at 1.0731.

Reason for the trading strategy (technically):

Price has repeatedly failed to break out support to trigger our sell entry. We remain bearish preparing to sell on the break of 1.0859 support (Fibonacci retracement, Elliott wave theory). Upon the break of that level, we will have our stop loss at 1.0913 (Fibonacci retracement) and our profit target at 1.0731 (Fibonacci retracement, price gap, Elliott wave theory).

RSI (34) is seeing long term ascending support holding price up above our key support level. We require a break of this level to correspondingly see a bearish drop on price.

 

[meeru]

USDJPY still testing major resistance, remain bearish

USDJPY
April 28, 2017, 04:45
Sell below 111.37. Stop loss at 112.27. Take profit at 109.41.

Reason for the trading strategy (technically):

Price is now testing our resistance area. We remain bearish below major resistance at 111.37 (Fibonacci retracement, horizontal resistance, Fibonacci extension) and we expect a reaction below this level for a drop to at least 109.41 support (Fibonacci retracement, horizontal overlap support, price gap).

Stochastic (34,5,3) is seeing major resistance at 91% where we expect a drop from. It has also made a bearish exit signalling that a change in momentum is impending.

 

[meeru]

USDCHF testing major resistance, prepare to sell

USDCHF
April 28, 2017, 04:43
Sell below 0.9956. Stop loss at 0.9975. Take profit at 0.9896.

Reason for the trading strategy (technically):

We prepare to sell below major resistance at 0.9956 (Fibonacci retracement, horizontal overlap resistance, long term descending resistance) for a push down to 0.9896 support (Fibonacci extension, horizontal swing low support).

Stochastic (34,5,3) is seeing descending resistance holding price down correspondingly.

 

[meeru]

EURUSD remain bearish preparing to sell on the break of support

EURUSD
April 28, 2017, 04:46
Sell below 1.0859. Stop loss at 1.0913. Take profit at 1.0731.

Reason for the trading strategy (technically):

Price has repeatedly failed to break out support to trigger our sell entry. We remain bearish preparing to sell on the break of 1.0859 support (Fibonacci retracement, Elliott wave theory). Upon the break of that level, we will have our stop loss at 1.0913 (Fibonacci retracement) and our profit target at 1.0731 (Fibonacci retracement, price gap, Elliott wave theory).

RSI (34) is seeing long term ascending support holding price up above our key support level. We require a break of this level to correspondingly see a bearish drop on price.

 

[meeru]

Stepping out of the comfort zone and taking risks are necessary for significant gains. #Motivate

 

[meeru]

AUDJPY remain bearish for a further drop

AUDJPY
May 1, 2017, 05:06
Sell below 83.38. Stop loss at 83.84. Take profit at 82.43.

Reason for the trading strategy (technically):

We remain bearish shifting our selling area to 83.38 resistance (Fibonacci retracement, swing high resistance, descending resistance) for a further push down to 82.43 support (Fibonacci extension, fibonacci retracement, horizontal support, fill the gap).

Stochastic (34,5,3) is seeing major resistance below the 83% level where we expect a drop from.

 

[meeru]

AUDNZD reversing perfectly, remain bearish

AUDNZD
May 2, 2017, 05:54
Sell below 1.0901. Stop loss at 1.0939. Take profit at 1.0820.

Reason for the trading strategy (technically):

Price reversed right below our stop loss and is dropping nicely. We remain bearish below major resistance at 1.0901 (Fibonacci retracement, horizontal swing high resistance) and we expect a drop below this level to at least 1.0820 support (Fibonacci retracement, horizontal swing low support).

Stochastic (55,5,3) is seeing major resistance below the 96% level where we expect a drop from.

 

[meeru]

EURUSD remain bearish preparing to sell on the break of support

EURUSD
May 2, 2017, 05:53
Sell below 1.0859. Stop loss at 1.0913. Take profit at 1.0731.

Reason for the trading strategy (technically):

Price has repeatedly failed to break out support to trigger our sell entry. What is very interesting to observe is the formation of the RSI. We can see that it is being squeezed by a triangle formation and if it breaks the long term ascending support line, we can expect a similar drop in price. For now, we remain bearish preparing to sell on the break of 1.0859 support (Fibonacci retracement, Elliott wave theory). Upon the break of that level, we will have our stop loss at 1.0913 (Fibonacci retracement) and our profit target at 1.0731 (Fibonacci retracement, price gap, Elliott wave theory).

RSI (34) is seeing long term ascending support holding price up above our key support level. We require a break of this level to correspondingly see a bearish drop on price.

 

[meeru]

AUDUSD forming a nice reversal, time to start buying

AUDUSD
May 8, 2017, 04:59
Buy above 0.7383. Stop loss at 0.7359. Take profit at 0.7461.

Reason for the trading strategy (technically):

Price has formed a really nice 5 wave movement going down. This is the first sign of a good bullish bounce. We look to buy above 0.7383 support (Fibonacci retracement, horizontal overlap support, bullish divergence) for a bounce up towards 0.7461 resistance (Fibonacci retracement, Elliott wave theory, horizontal pullback resistance).

Stochastic (55,5,3) is seeing major support above the 4% level where we expect a bounce from. We can also see bullish divergence vs price signalling that a bounce is impending.

Correlation analysis: AUDUSD has a strong positive correlation with NZDUSD which means they usually move together. We are expecting a rise on AUDUSD and a drop on NZDUSD, hence it is best to exercise caution on this trade.

 

[meeru]

AUDNZD testing major support, time to start buying

AUDNZD
May 8, 2017, 04:57
Buy above 1.0702. Stop loss at 1.0632. Take profit at 1.0817.

Reason for the trading strategy (technically):

Price is now testing major support at 1.0702 (Fibonacci retracement, Fibonacci extension, bullish divergence, horizontal support) and we expect a bounce above this level to at least 1.0817 resistance (Fibonacci retracement, horizontal pullback resistance).

Stochastic (34,5,3) is seeing strong support above 1.3% where we expect a bounce from and also sees bullish divergence vs price signalling that a bounce is impending.

Correlation analysis: A strong AUDUSD and a weak NZDUSD means AUDNZD would be in for a strong bullish run which is what we’re expecting today.