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Short-term Trading Idea FX AUD/USD – Wait and See: Probable False Break in the Trend Line

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Trading opportunities for currency pair: taking Friday’s close price of the euro/dollar and pound/dollar into account, it’s highly likely the Australian underwent a false break in the trend line. The Chinese economy is weak and so the price of iron ore has been falling for over a year now. If the Aussie closes below 0.7190 on Monday or Tuesday, it means we will head back to 0.7020. Otherwise the AUD/USD will take the rate to 0.7420/36. This idea will become invalid if the daily candle closes above 0.7296.

Short-term Trading Idea FX GBP/CAD – Bull Speculation: Expected Break in 2.032 Resistance

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Trading opportunities for currency pair: due to oil prices falling, we should consider a break in the resistance after a bounce to 2.020. If the buyers pass 2.0335 on Monday, keep 2.0500 in your sights. The idea will be valid for just one week and will become invalid at any point if the four-hour candle closes below 2.0150.

Short-term Trading Idea FX EUR/USD – Bear Speculation: Development on Ideas from 26/10/15

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Trading opportunities for currency pair: the euro/dollar’s candle has been closing with a long upward shade for six weeks in a row. The eurobulls aren’t able to strengthen above 1.15. The interim 1.0838 target is still there, with the support zone at 1.0807-1.0818 (27th May and 20th July minimums). A scenario where we’ll see growth will become frozen out for a while if the daily candle closes above 1.1210.

Short-term Trading Idea FX GBP/USD – Wait and See: Likely Rebound From or Break Through Trend

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Trading opportunities for currency pair: There’s no point rushing for the moment. The pound managed to return to the trend line on Friday issuing support from the euro/pound cross. Monday will be decisive since the price will either recoil from the trend or will break through it. We could see a false break before the Bank of England convenes so be careful. If the pound bounces back, the target is 1.5150, if it breaks: 1.5554. I’m not looking at it going any higher for the moment.

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