Trading Room: European Session

[MuhammadAzeem]

Hello

This is an updated about USD/CAD 4 hours chart buy trade setup

Trend is bearish in 4 hours time frame. Vital resistance is present at
1.2989 price level. Price has showed selling pressure, which looks like an
Ending Diagonal pattern and price has probably printed the last and final
bearish leg - Wave 5.

Based on Elliott wave analysis, price should start a bullish leg now. I am
going to wait for a bullish break out in price action above 1.2989 resistance
level because the trend is still bearish and market could still fall
more to fail the ending diagonal pattern.

See the attached screen shot image of USD/CAD 4 hours chart

 

[MuhammadAzeem]

Hello

This is an updated about USD/CAD 4 hours chart buy trade setup

Trend is bullish in 4 hours time frame. Vital support is present
at 1.2592 price level. Price has showed some signs of buying
pressure, which looks like an Ending Diagonal pattern has
completed. Based on Elliott wave analysis, price should start a
bullish leg now towards 1.2995 price level and higher.

A good idea is to wait for the price to first move out of
converging diagonal trend lines and then go long in USD/CAD
currency pair. However; if price drop below 1.2592 support
level then I would prefer to stay out of the market and
re-analyze the price action in USD/CAD 4 hours chart.

See the attached screen shot image of USD/CAD 4 hours chart.

 

[MuhammadAzeem]

USD/CHF Buy trade setup in 4 hours chart

Hello

This is an updated about USD/CHF 4 hours chart buy trade setup

Trend is bullish in USD/CHF currency pair, four hour time frame. As I have suggested past week during my daily Live trading room session, market is rising up to print bullish corrective Wave w leg and traders should look for a buy trade. So, all those Forex traders who have followed the analysis have made the right decision as the price has moved up. Strong key support level is present at 0.9584 price level.

Be sure to check out daily Forex market updates via Live Trading Room. In my judgement, price action in USD/CHF is printing a possible bullish Double Zig Zag Elliott pattern and market is most likely going to rise up more towards 0.9950 price level, in coming trading days.

Currently; bullish Double Zig Zag pattern looks in-complete and price action offers a possible buy trade setup at Wave x location to join an up trend to ride bullish Wave y. However; if price of USD/CHF currency pair breaks below 0.9584 critical support area then I might like to stay out of the market and re-examine the 4 hour chart of USD/CHF currency pair.

See the attached screen shot image of USD/CHF 4 hours chart.

 

[MuhammadAzeem]

USD/JPY Sell trade setup in 4 hours chart

This is an updated about USD/JPY 4 hours chart sell trade setup.

Trend is bearish in 4 hours time frame. Vital resistance is present
at 110.67 price level. Price has showed some signs of selling
pressure, which looks like a Bearish Impulse Wave 3 pattern has
completed. Based on Elliott wave analysis, price should start a
bullish leg now towards 108.25 price level - Wave 4

A good idea is to wait for the price to first move up and complete bullish Wave 4 and then go short. However; if price rise above 110.67 resistance level then I would prefer to stay out of the market and re-analyze the price action in USD/JPY 4 hours chart.

See the attached screen shot image of USD/JPY 4 hours chart.

 

[pencariduit]

tuan guna robot forum apa yek nk post benda2 nie??

 

[MuhammadAzeem]

USD/CHF 4 Hours chart update

USD/CHF Sell trade setup in 4 hours chart
This is an updated about USD/CHF 4 hours chart sell trade setup.

Trend is bearish in 4 hours time frame. Vital resistance is present
at 0.9701 price level. Price has showed signs of selling
pressure, which looks like a Bearish Impulse Wave 3 pattern.

Based on Elliott wave analysis, price should drop more.
A good idea is to look for a sell trade to join the down trend.
However; if price rise above 0.9701 resistance level then I would
prefer to stay out of the market and re-analyze the price action in USD/CHF 4 hours chart.

See the attached screen shot image of USD/CHF 4 hours chart.

 

[MuhammadAzeem]

AUD/USD 4 hours chart - down trend

Hello

This is an update about AUD/USD 4 hours chart sell trade setup.

Trend is bearish in four hours chart. Important key resistance
level is present at 0.7718 price level. In past few trading
days, price has printed a possible short term bottom which
has completed Double Zig Zag pattern. Now, I expect a bullish
leg which offers a sell trading chance to join the down trend.
However; if a bullish candlestick closes above 0.7718 critical
resistance level then I will stop trading and re-analyze the
price action of AUD/USD currency pair.

See the attached screen shot image of AUD/USD 4 hours chart.

 

[MuhammadAzeem]

AUD/USD 15 Minutes chart - down trend

Trend is down in 15 minutes time frame of AUD/USD currency pair. Short term resistance is present at 0.7354
price level. Based on Elliott wave analysis, price is going to drop to print a bearish Zig Zag corrective
wave pattern or the decline could possibly turn into an impulse wave pattern as well.

In both cases, the trend is bearish and a good idea is to look for a possible sell trading chance to join the
down trend. So, as long as price stays below 0.7354 key resistance level, the trend remains bearish.
However; If price close a bullish candlestick above 0.7354 resistance level then in such case, down
trend is going to end and I will re-do my analysis in AUD/USD currency pair.

See the attached screen shot image of AUD/USD 15 Minutes chart.

 

[MuhammadAzeem]

EUR/USD - Down Trend in 4 hours chart

Trend is bearish in 4 hours time frame. Key resistance is present at 1.1476 price level. In last few trading
days, EUR/USD currency pair is moving down and it looks like Double Zig Zag pattern has completed.

Now, I expect a bullish leg which could be an X wave pattern. So, the trend is down and we should only
look for sell trades. However; a bullish break out in market action above 1.1476 price level will
fail the bearish outlook and in such case; I would prefer to stay out of the market and re-analyze
price action in EUR/USD 4 hours chart.

See the attached screen shot image of EUR/USD 4 hours chart.

 

[MuhammadAzeem]

Trend is bearish in 4 hours time frame. Key resistance is present at 1.1348 price level. In last few trading
days, EUR/USD currency pair is moving down and it looks like Double Zig Zag pattern has completed.

Now, I expect a bullish leg which could be b wave pattern. So, the trend is down and we should only
look for sell trades. However; a bullish break out in market action above 1.1348 price level will
fail the bearish outlook and in such case; I would prefer to stay out of the market and re-analyze
price action in EUR/USD 4 hours chart.

See the attached screen shot image of EUR/USD 4 hours chart.