Daily price action analysis 13 October 2016

Market analysis and trading is a different thing. So please trade only if it match with your strategy. Technical analysis is only constituted historical data. Be aware of fundamental events is the wise decision. Please visit Price Action Trading – The Journal for LIVE entry and exit.

EURJPY:

This pair moves downside and tries to go towards support level. It is better to enter a short position. Currently, target is 112.40 which is strong support and range.

Chart EURJPY, H4, 2016.10.13 09:23 UTC, Admiral Markets, MetaTrader 4, Demo

Risk Warning
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. This forecast is only for educational purpose.
I will not responsible for any loss of your capital.

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Daily price action analysis 06 October 2016

Market analysis and trading is a different thing. So please trade only if it match with your strategy. Technical analysis is only constituted historical data. Be aware of fundamental events is the wise decision. Please visit Price Action Trading – The Journal for LIVE entry and exit.

AUDUSD:

AUD break its support level and move downward again. The range breakout seems very strong and there was also volume support. Now, the support level may turn into resistance. We can ensure it after successful pullback. No entry without pullback candlestick confirmation.

Chart AUDUSD, H4, 2016.10.06 07:47 UTC, Admiral Markets, MetaTrader 4, Demo

Risk Warning
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. This forecast is only for educational purpose.
I will not responsible for any loss of your capital.

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Daily price action analysis 05 October 2016

Market analysis and trading is a different thing. So please trade only if it match with your strategy. Technical analysis is only constituted historical data. Be aware of fundamental events is the wise decision. Please visit Price Action Trading – The Journal for LIVE entry and exit.

GBPUSD:

This week I only focus on a single currency pair that is the pound. Pound break its 31 years low and now it will be a pullback to its NEW resistance level. Then only short is real. I am waiting for this trading opportunity because it will be an A+ setup and the success rate will be higher than any other trade. Possible pullback level is 1.2850

Chart GBPUSD, H4, 2016.10.05 07:19 UTC, Admiral Markets, MetaTrader 4, Demo

Risk Warning
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. This forecast is only for educational purpose.
I will not responsible for any loss of your capital.

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Daily price action analysis 04 October 2016

Market analysis and trading is a different thing. So please trade only if it match with your strategy. Technical analysis is only constituted historical data. Be aware of fundamental events is the wise decision. Please visit Price Action Trading – The Journal for LIVE entry and exit.

GBPUSD:

Pound already break that level ( previous analysis discussed ). Now we are looking for a pullback and then go down for a longer timeframe. It may be down at least 2 Months or this year.

Chart GBPUSD, H4, 2016.10.04 07:37 UTC, Admiral Markets, MetaTrader 4, Demo

Risk Warning

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. This forecast is only for educational purpose.
I will not responsible for any loss of your capital.

Posted in Price Action Analysis | Comments Off

Daily price action analysis 03 October 2016

Market analysis and trading is a different thing. So please trade only if it match with your strategy. Technical analysis is only constituted historical data. Be aware of fundamental events is the wise decision. Please visit Price Action Trading – The Journal for LIVE entry and exit.

GBPUSD:

Pound open with a little gap this new week. This gap was in a downward movement and we will look for a further break of this STRONG support level. 1.2875 is one of the strongest levels among them and it can be a little zone also. At this moment I don’t open any position until it breaks its support or resistance level. A little consolidation may happen, so please keep patience.

Chart GBPUSD, D1, 2016.10.03 08:47 UTC, Trading Point Of Financial Instruments Ltd, MetaTrader 4, Demo

Risk Warning
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. This forecast is only for educational purpose.
I will not responsible for any loss of your capital.
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Forex Economic Data October 03-07

This week comes with lots of good chance to make some pips. Just we have to combine them with proper news data and price action analysis.

ADP Non-Farm Employment Change: On Wednesday  5th October a important news will be release. The data have no forecast yet but we should avoid trading this news as a price action trader. After this news USD might able to find its new direction.

ISM Non-Manfactuing PMI: Producer manufacturing PMI for USD also a important data to note because it is key point to forecast next Inflation as well as GDP. I also avoid this news trading and after this release market will be normal, then I enter my trades again.

Open positions should kept open or close but be aware of slippage.

Posted in Macroeconomics | Comments Off

How US election impact the FOREX market!

US election scheduled on 8th November 2016. As USD is the king of the forex market and related to other currency then we have to consider it very closely. However, it is not directly related to the currency but it is related to the business environment which impacts foreign exchange.

Last 8 years form  2008 FED rate is very low. It is still very low after the recent hike. For many people at least 4-5% interest rate is reasonable but FED will do what government policy told them to do.

So, US election will not directly impact the market but it is my opinion to stay away from the trade this election two weeks. We don’t have to do anything and may be market will very choppy or very volatile during this election. But after the election results will be published and we have to watch what fed going to do.

Please keep visiting my blog after this election where I will provide SPECIAL article on US election impacts on USD.

Posted in Macroeconomics | Comments Off