Scottnoveldex

Scottnoveldex Updated 

Ok so when looking at the weekly AUDUSD you can clearly see it is in an upward channel starting from 2016. This is however 'counter' trading when looking at the weekly time scale - it could be that the AUD is in a consolidation channel and waiting for it's next big moves against the USD. Fundamentals will play a key role here due to the AUD being a commodity...

Scottnoveldex Updated 

After a nice 'counter short' at the 1.2400 resistance on the 4hr time frame my main focus is to long this to keep in trend and also stay in this weekly channel. Zoom out to seen important areas and the channel easier. Stop will be around 25-35 pips and TP zones will be starting at the 1.2400 area where I will start exiting my position. Look for price to slow...

Scottnoveldex Updated 

Look for a pull back to this key 1.2750 area and then price to slow down and take a short position with your indicators and MACD divergence confirming. This will take some patience as we need a USD/DXY bounce back. Fundamentals need to back up the technical analysis. By the time we get to the favoured price it may be a different story with the 200 EMA being too...

Scottnoveldex Updated 

A very odd head and shoulders pattern with its peak from the neck line to the top measuring 170pips So the downwards momentum on the GBPUSD could mean that there is a test of the very big psychological level of 1.4000 coming up as that is the 170 pip movement when calculating the Head and shoulders range. Look for support at the 1.4000 level before considering a...

Scottnoveldex Updated 

A short this time for the USDCAD. Technically I would like a pull back to 1.2500 to short from the previous drop which was oil news related from memory. However there is also some significant congestion and previous support and resistance at the level it is at around 1.2400/20 A less aggressive trade would be to wait for the pull back on the USD which has been...

Scottnoveldex Updated 

USDJPY to long from 112 area sue to technical analysis of weekls support and resistance area. Fundamentally the USD is at an area of contention with rate hike chat and some positive data sets. Keep an eye on the $TNX chart to see an early indication of yield which can lead where the USD is going. Wage growth yet to be commented on in both economies. JPY strength...