Strong downtrend with potential of a 3:1 + Risk to reward ratio. Numbers also seem to line up well with Fibs.
Looking to take a small risk nibble on the CADJPY for a possible breakout of the 97.00 handle. Trend seems to be shifting to the long, but there is some resistance areas above. So, conservative target as well.
Opportunity for a long on TRK. Placed an aggressive entry and conservative entry. Fibs line up as well.
Looking for price to fill gap on the Daily chart, and then continuing the trend upwards.
While I like the short of this pair much better, price still illustrates that this pair is range bound. Will consider a smaller position size on the long. Confirmation of a continued uptrend will occur on breakout above 1.28500.
This pair has been range bound for a number of weeks now. Until a breakout occurs either above 1.28500 or below 1.23500... we will play the range. This is a setup for the short side of this range. Will also be setting up a long setup as well.
Trading with overall trend from the Daily chart. Fibs also provided additional confidence in this selling area.
Risk reward ratio is about 3.9 to 1. Both 89 & 144 EMA lie within sell zone. With USD news coming out today, price could reach our entry zone very shortly. Aussie leadership would like price at least .7500 handle to promote exports.
Consensus seems to be continued EUR weakness in consideration of Greece and many other factors. While the $DXY has been slipping a bit as of late and appears week, the $DXY seems poised and strong versus the EUR over the long haul. Seeking levels of price imbalance and in consideration of key numbers provides a number of short opportunities to join in on the...