Forex Trader DailyIf you haven’t already, please read this post first. The AUD/USD 15 minute pullback finally triggered the swing buy as prices corrected to the 34ema high. Being patient pays off as there are often multiple opportunities to follow the trend.
It is very important to confirm — before the trend follow entry — that the trend [...]
The four hour or 240 minute chart is continuing to follow the downtrend as the Canadian Dollar or “loonie” gains against the U.S. Dollar. There are a few moves in related markets that are helping with the follow-through. First the crude oil market is still holding onto last week’s gains and second, the U.S. Dollar [...]
The cable is triggering a short off the 34ema high on the 15 minute timeframe. Swings typically will have a limit order waiting at the price trigger since the entry can come (and go!) very quickly. Capitalizing on corections (exhaustion) is often about taking advantage of a short window of opportunity. The 15 minute GBP/USD [...]
The 60 minute EUR/USD has formed a Continuation Channel Up Emerging pattern as price rallied through 1.4200. Recent corrections to 1.4143 and 1.4210 show there is buying support on short and longer term intraday weakness.
On the 60 minute chart the current uptrend line support is just above the 1.1400 level with an Initial Trend reading [...]
The AUD/USD is at a level where an intraday double top could be put in at the minor psychological level of 0.7820. If it does hit then there could be some interesting trades that could trigger at that level and on teh follow through lower. The first and most aggressive would be a 7820 “inside-the-range” [...]
The USD/CAD has been riding the roller coaster lower as crude oil futures trade bellow $60/barrel. Continued risk aversion has kept the U.S. Dollar above the key 80.00 level as the stock markets sink. The congestion on the short term intraday 30 minute chart of the USD/CAD show the congestion going into the weeked and [...]
The USD/CAD has been rallying as the crude oil market weakens and the loonie weakens versus the greenback. The uptrend on the 15 minute chart has a correction that can be capitalized on if prices reach the support of the 34ema high currently at 1.1617. In fact the 1.1620 level could be the entry as [...]
The USD/CAD is bouncing slightly this morning as the Dollar Index and crude oil are reversing theie earlier downtrend and uptrend, respectively. This means that the loonie is starting to lose some ground against the weakening dollar in the shorter term, intraday time frames. Currently the USD/CAD is trading inside pivot support on the one [...]
The USD/CAD is continuing to sell off as the crude oil breaks $60/barrel and the U.S. Dollar heads to 81.00 — a level it hasn’t been to since the first week of January. The continued weakness in the dollar is certainly reflected in crude oil allowing the loonie to strengthen against the greenback. Even more [...]
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