EURJPY: Bullish Forecast For Next Week

By VasilyTrader

EURJPY has broken above a major falling channel this week.
Now the price is retracing!
Strong demand zone is ahead:
It is based on a key daily historical levels and a resistance line of a broken channel.

I believe that the price will start growing from the underlined zone!

Goals for buyers are 118.0 / 119.0

Good luck!

EURGBP is Forming Cup and Handle Pattern

By Deya Hroob

In the daily chart of EURGBP, Cup and Handle Pattern started to appear. It's a continuation pattern.

The price may pullback towards the blue curve before rising again.

Our profit targets will be the Fibonacci levels as shown on the charts. If pairs breaks under 0.8860 the trade set up will be invalided. 

AUDNZD On Key Daily Structure

By VasilyTrader

 AUDNZD has reached a key daily structure.
Taking into consideration rsi divergence, dodji, and yesterday's weak bearish candle I believe that chances are high that the underlined structure will be respected.

Short term goals for sellers are 1.074 / 1.067

In case of a bearish continuation below these levels, we can expect a further decline!

Good luck!

AUD/CHF Trading Plan: Trading in a Channel

By Deya Hroob

This trade set up is  based on 4h chart.

The pair is trading inside a channel. Also, it is below the moving averages.

Our trade set up is:

Short the pair on the upper line of channel with first target the support structure.

Stop loss above the upper line.

Good Luck!

GBPUSD: Breakout of Key Level & Bearish Continuation

By VasilyTrader

 What a short rally on GBPUSD on Friday!
The price has surely broken below a major daily structure support level.

Now we will expect a further decline to the next major levels: 

1.20 level is 2019's structure low and I truly believe that it is the current goal for sellers. 

1.19 level is 2016's structure low after brexit referendum/
Pay close attention to these levels next week.

Concerning trading recommendations, it is definitely too late to jump in. 

The impulse is missed and it is very risky to short on current prices.
look for a pullback to a yesterday's broken structure to short.

Good luck !

AUD/CAD is Approching Strong Strcture: Forming Rising Wedge

By Deya Hroob

AUD/CAD  is trading inside a rising wedge. It's a reversal pattern. The pair is also at strong resistance.
We are looking for a breakout of the lower trendline to open short. Aggressive traders could also go short when price touches the upper line with stop loss above the resistance level.

Daily traders could trade between the wedge lines, but should use stop loss on both directions.

Good Luck,  

USDCHF: Potential Harmonic Bat Pattern

By VasilyTrader

 Potential harmonic bat pattern is forming on USDCHF!
0.961 - 0.959 is a safe area to buy from.

From that zone we will expect a bullish reaction to 0.9663/0.971 levels (382 and 618 retracement of AD leg)

safest stop 0.95666 (below structure)

Good luck!