theforexportal

theforexportal

On the Weekly time frame we can see that GBP has just hit the bottom of a well-defined channel going back several years. We are also at WS2 support and we had a bounce from this area last January. I'm in this market from 2.0092 with a b/e STOP with an open ended target. I'm going to leaving this trade for as long as possible as as 2.0542 is the top of the Daily...

theforexportal

Overnight AUD/JPY has taken a breather and pulled back to support at the lower side of the up channel. With support at 81.15 a LONG here with a STOP under support may work particularly if the price can take out the 200 sma on H1. LONG from 81.47 with a STOP at 81.14. Target WR1 at 83.72

theforexportal Updated 

The USD has spent most of Monday recovering and although progress has been subdued on USD/CAD there are reasonable signs that a swing low may be in place at 1.38 area. Price sits just above the 38.2 fib of last weeks range and a LONG trade here (I'm in at 1.3834) looks a to have a decent chance though I'm not loving it. Tight STOP at 1.3804 for a 30 pip risk with...

theforexportal Updated 

The YEN appears to start the week on the back foot after solid gains last week and we have a channel break on GBP/JPY. I'm LONG this market from 165.04 with a STOP under last weeks Friday high of 164.74. Target is 167 area where the 200 sma's come in and above that the monthly fib at 167.29.

theforexportal Updated 

GBP/CAD is looking for support near Fridays low (1.9984) and looks poised to break higher. LONG from 1.9994 with a STOP under the low at 1.9979 is a very low risk trade with plenty of upside potential. The fundamentals make this a risky trade with stock markets recovering and commodity pairs doing better but

theforexportal Updated 

Price has hit a significant trendline that runs from the 11 March 2015. This area also coincides with R1 resistance. SHORT now from 1.1315 STOP 1.1327 for a 12 pip risk. Target to be determined.

theforexportal Updated 

Price has slipped under trendline support and is heading back to look for support at the 200 sma. I'm SHORT from .7765 with a hard STOP above the trendline at .7785 for a 20 pip risk. Looking for TP at the 200 if it holds or hopefully much lower at WS1 pivot at support .7571 sometime next week.

theforexportal Updated 

AUD recovering lost ground and has broken free of the down channel. LONG from 80.31 with a STOP under today's low at 79.20 initially. The plan is to get this trade to break even by close of play and hope we get a move north on Sunday's open

theforexportal Updated 

Price has broken north of the descending channel and is bouncing off previous support. LONG here from 1.0991 with a STOP under the recent low at 1.0949 may make progress.

theforexportal Updated 

With GBP/CAD at significant support and moving north through WS1 support, I'm trying a LONG trade here with a tight STOP. RSI is heading out of oversold to suggest we may go higher. I'll get this trade at b/e as soon as possible.

theforexportal Updated 

GBP/CAD has remained above the 200 day SMA and the Weekly Pivot and has just climbed above a clearly defined pitchfork (XY). Price is also moving north of a second channel (AB). I'm LONG from 2.0156 with an initial target of WR1 at 2.0357

theforexportal Updated 

GBP/USD has moved away from the 200 sma and this lies nicely above a well defined support/resistance area. Price is also moving out of a clear downward channel though this is yet to be confirmed. LONG above the Weekly Pivot and 50 day sma (1.4463) with a STOP under the 200 sma (1.4413) and a target of WR1 at 1.4700 would be a high reward trade. Significant...

theforexportal

USD/CAD has entered an area of support/resistance and is also falling back into a descending channel. I'm looking for a SHORT from these levels once we get a pull back from oversold conditions on the lower time frames

theforexportal Updated 

Compelling reasons to SHORT this pair from these levels. WE have a double top at .7756 and this coincides with WR1 Pivot Resistance. I have a open ended target for this trade but am looking for a move back down to the 200 sma currently at .7625 area. I'm SHORT from .7750 with a hard 20 pip STOP at .7770.