riffster21

riffster21

With the longer term double top and recent support failure, this pair should keep grinding lower. However, with NFP looming, it's more likely to grind sideways until the release. That said; you can catch a few pips here and there by riding the consolidation channel sideways. Selling at the top is my preferred method for this pair right now, but you can also try...

riffster21

Read my last UJ post for more details - support is gone now and 114.75 is in sight. The longer term should go much lower from here. If you missed an entry on this pair, wait for a pullback near support (now resistance) and enter your short. Expect a choppy trade, but it should go much lower. DO NOT forget about NFP.

riffster21

If you read and agreed with my last EURUSD post, a break above downtrending resistance (i.e. the top of the flag) should get us to 1.0870 & maybe much higher. We've been conditioned to look for bearish patterns in the EURUSD, but a correction is inevitable. If you decide to buy the break out, remember that the key level (resistance) is a downtrending line, so...

riffster21

Most of us waited to see if the 118.50 area would hold last night and it did. I grabbed a few pips on the ride down, but after taking a closer look I wish I was still in my short position. JPY pairs love double tops and bottoms. The formation of a double top or bottom usually signals a strong (longer term) move. In this case, to the downside. If you are in a UJ...

riffster21

The EU made a massive push to the downside, leaving the EU slightly over-sold at the moment. If uptrending support holds, we could have a nice bounce up. As always, keep an eye on news and don't hold losing trades! If support fails, get out.

riffster21

With longer term resistance gone, the new short term support is the new key level. Any attempts to break support 'should' provide nice buy opportunities. The short term bias is to the upside, but that can change quickly (as we've seen so many times before). However, long term analysis suggests a slow shift to higher level for the EURUSD. Even if that's true,...

riffster21

Sorry, I should have posted this earlier, but I was too busy catching the first trade. The EURCAD is one of my favorite pairs. Good ATR's and fairly easy to predict. The double head-fake below support probably caught a few traders off-guard. However, the recent move up should provide some nice box trading. Use down-trending support and 1.4280 as resistance. Keep...

riffster21

This pair has 2 options for entry. Strong up-trending support might provide a nice entry point. Some pairs take a deep breath (i.e. pull back) right before the next good push. If this happens, a buy at or near up-trending support (yellow line on chart) is a great option. The 2nd option, not my favorite, would be to wait for a break at resistance. The here problem...

riffster21

We have solid short term support and a nice upward wedge in place. Look for buys near the 1.0540 area (or close to it). Set stops below and WATCH FOR NEWS that might push through support. News is the only thing that 'should' prevent this pair from roaming higher over the next couple of weeks.