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Usdshort

USD in some hot water - SELL for now - The USD seems to have suffered some after the tensions in the French elections eased up again. By no means is it over - but for now the market seems content to ease off on the fear/risk factor. The USD has crossed and stayed below the 200 day MA (red line) - so I'll be looking for opportunities to short the dollar for the next bit. That being said, today is a "sit on your hands day" and see how the markets want to react to easing of tensions.
TVC:DXYShort
by ChrisAbdey
EURUSD - Will 61.8 hold?I've been eyeing this opportunity this since last week. Price have failed 5 times (and counting) to break and close below 1.0650 (seen on 4 hour), which also happens to line up more or less exacly with 61.8 fibonacci X-A. We're coming from an oversold condition, momentum seems to be turning around - could this simple setup wield profit? Overall, the break to the upside of the big triangle also gives a hint what this pair wants to do, diving down inside the triangle could be one last dip in the water before heading up.
Long
by timmynorin
2
GBPUSD - This morning's setup - Another train leaving soonIf you are following me on Telegram (t.me) you saw my entry and targets this morning on GBPUSD. We had a double bottom, with several failed attempts to close below 1.2400 - together with heavily oversold conditions and a historically strong support and resistance area. A good case. What I was looking for was a pullback that we could profit from with 2 targets. I entered at Z, target 1 is already hit, profit booked and stop loss moved to break even. My risk to reward is shown on chart. When we also saw that dragonfly doji candle right after my entry, this case was already closed - the pullback was inevitable. However, the train has not completely left yet as we could get another possibility to enter (see X mark). That entry is based on a 2618, if that is a strategy that you use to base your entry. I will not enter again since Im already in, but I wanted to share the idea. Keep in mind, this is currently a bearish train. We're just looking to catch a station before jumping off again.
by timmynorin
11
XAUUSD (4h) Long setup, simple structure trend cont.Simple structure and trend continuation setup. We have previously strong resistance to, hopefully, act as our support in this trend continuation trade. Together with the support, we also have a trendline which should add to the case. ..and we also see the double bottom at the previous resistance level. This pair has been respecting structure and trend thus far, the only signal I needed to enter was the bullish engulfing which is seen on hourly. We're in, target previous highest close. Stop loss below trendline. (Break and close under trendline will invalidate this setup for me.)
FX_IDC:XAUUSD
by timmynorin
GBPUSD (15m) Buying signal with break above monthly resWe have an opportunity to get long with a break and close above monthly resistance. Historically when this has happened the price has retraced for a brief retest before heading up. Lets see how this pair responds this time, the risk to reward is big enough for taking the risk (for me). Do your own analysis, we see lots of different opinions on this pair. I follow the signals that the price action gives me, in the end, the most important factor is being profitable over time despite being wrong every now and then.
Long
by timmynorin
1
Declining DollarFollowing Trump's inauguration last Friday the BEARISH tone to the USD looks certain to remain and we've been SHORT SPX500 from 2264 in the belief that this market is overbought and due a correction. With the USD declining and the Dollar Index heading south, we are expecting more dollar weakness which should boost all USD pairs although not at the same rate. With dovish noises from the RBNZD , the New Zealand Dollar may not advance as much as the GBP so each counties fundamentals need to be factored in. We are SHORT USDOLLAR Index looking for a move down to test support at 1231. Under that opens a move down to the 200 day SMA at 1210 area. The US market open will be particularly interesting today.
FX:USDOLLARShort
by theforexportal
MEDIUM TERM DOLLAR SHORTThe dollar has gone up too fast, too quickly. Technically: 1) Outside 800-period BB on the 4H chart. 2) Divergence at the 100.2 level. 3) The 100-100.5 region is strong resistance on the daily chart - we were there in December 2015 after which there was a major correction to the downside. 4) Missed pivot point at 95.5 is the target. Fundamentally: The promise of fiscal stimulus is the main driver of dollar strength, with a rate hike in December being almost fully priced in to the market (91%). The market is also pricing in further rate hikes in 2017. However, Trump's policies remain uncertain. Furthermore, in Dec 2015 the market was pricing in multiple hikes in 2016. These never came. A similar situation might occur now - since increasing rates too soon, too quickly might put pressure on credit and equities. Global risks remain high, and the dollar will sell off in the event of more global uncertainty.
TVC:DXYShort
by Exercise-Discipline