Interval: Daily The Japanese average is trying to break 12600. But it only managed to consolidate itself in a rectangle, under the resistance. The market might wait for the Monetary Policy Meeting of BOJ to see what measures the new governor, Haruhiko Kuroda, will take. If they will not start taking action and add monetary stimulus then we might see a drop back to the local support, or even lower to a key level at 11500. The RSI and ROC, of 28 periods, are in divergence with the price … [Read more...]
Trade Setup: EURUSD Closing The Gap
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Interval: H1 EURUSD has opened with a big negative gap because of the new problems that appeared in Europe. Cyprus will get a 13 billion dollar bailout, only if it will tax bank deposits with 9.9% on accounts that are equal or bigger than 100k, and 6.75% for those that are under this sum. This measure has to be approved by the parliament today, if so, then the Euro might get back to last week's closing price. Keep in mind that for this setup we will use a 50 pips trailing … [Read more...]
FX: USDCAD Trade Setup Fundamental and Technical
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Interval: H4 Considering a parallel channel where the USDCAD has rejected from the trend line forming a consolidation under the 1.0000 mark, we can consider as target the upper line supplied by the channel. Also the macroeconomic indication Building Permits has been published under the analysts estimation of 4.3% with the value of 11.2%. Other macroeconomic information will be released today at 1:30 pm GMT, for the trade balance and the jobs sector. Most probably if the numbers are … [Read more...]
FX:EURUSD Trade Setup Negative Divergence
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Interval: H1 After a very strong move, triggered by the optimism that Mario Draghi had during the press conference, the EURUSD, seems to have taken a break. It consolidated in a rectangle pattern, and it has a good probability to break under the support. A negative divergence we can see on the 24 RSI, meaning a possible reversal. The confirmation level of this setup is 1.3245, the target 1.3288 (38.2 Fibonacci retracement) and the stop loss at 1.3300. … [Read more...]
