Auroras_Encore

Auroras_Encore

Hi All I have waited for this pair to come to the supporting trend line to see if it is worthy of a position. I do believe this pair will give us an opportunity to long it. There is a bullish divergence meeting the strong support. I will be monitoring how volume comes in to support price action as and when it happens. Happy trading FX_IDC:GBPJPY

Auroras_Encore Updated 

USDMXN bullish trend has remained for years and after February's & March's bullrun, it is only normal to see a healthy correction. As it appeared, the bull run of February & March has seen a retracement (almost) to the .618 fib. Although we are still in a downtrend, I am waiting for price action to break the white dashed trendline before opening a position. I do...

Auroras_Encore

Evening, All GBPJPY, I will be keeping an eye on this pair just to see if I am a little early to the party where I can take advantage of a lower risk entry on the trend-line to ride the wave higher in the coming week. Perhaps we could see a move up to 1.5 - 1.618 fib where we would also meet resistance. FX_IDC:GBPJPY

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Evening All. GBPHUF - Analysing this pair, I see price action has respected the lower trend line well in the past. Coupled this with a bullish divergence favourable volume and a break of the low time frame trend line, I will be longing GBPHUF with a potential target between .5 and .618 retracement. I back this level with historic S/R of PA where price action may...

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NZDUSD - The Kiwi has had a good bullish run in the recent past but the longer term trend suggests this is now topped out. Backed up with a bearish RSI divergence, pending stronger dollar and meeting supply on its trend line. Currently, price action is attempting a retest of the upper trend line. I think this will fail and we will see a bearish trend. FX:NZDUSD

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EURNZD - Looking at this chart, I see steady long term bullish behaviour spanning back 4 years or so. However, for the last year, the bullish price action looks more laboured and a shallow incline proves this. On the shorter time frame, I see price action has had a steep decline. It is only natural to see a reaction here but if price action is to remain just...

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I have just opened this position on EURCHF . Been in a downtrend since May 2018. I would maybe expect this leg down to be the last before a potential reversal after meeting historic support. RSI bearish divergence, supply met on upper trendline , maybe a buy once the dash trend-line is broke is the safer option - lets see.

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GBPAUD reminds me a little of the EURCHF I have just posted, only inverse to that. GBPAUD has just completed quite a deep retracement back to its 3-4 year long hard trend-line. It almost stands to reason that we should see a reversal here regardless - but the markets have a habit of surprising you. I am going to monitor this market and enter a long position when...

Auroras_Encore

Good Afternoon, All. Here, I see GBP/CAD in a classic falling wedge heading towards its long term S/R line. Rejection of the support line adds to the confirmation we will be heading higher. To be sure, I will be a buyer once the price action has broken to the upside. Let me know your thoughts. Give me a thumbs up if you like the idea :) **Not financial advice**