Skip to main content

Posts

Showing posts with the label dollar

Buy Euro and hold

Hello everyone ,  Euro/Usd pulled back from 1.2250$ just 100 pips below multi year high and testing 1.1770$ area. This area is going to hold any break below and will definitely give support a bullish trend to build up to break above 1.2350$ area. Immediate strong resistance for the pair would be 1.1970$ followed by 1.2140$ Start buying large now and build up till 1.2140$ then hold for a bullish run till 1.3470$

Dollar rallies across the board

Euro fell 100 pips , so is sterling and gold tumbled 10$ to trade currently at 1234$ . brexit news are putting alot of pressure on all currencies against the dollar. Keep selling the euro , sell it anywhere between 1.13$ to 1.1320$ with target 1.1120$ There is a big chance we will have a second EU referendum on brexit.

Sell usdcad

Tomorrow , Thursday , is the day you sell usdcad at whatever level you want. Probably at 1.3030-3130 , i know this is a big range , but it will pay off hugely . The fed raised and there is still scope for 2 more hikes this year. There will be some dollar strength of course today and tomorrow before we see a reversal Shortly , i will post a recommendation for trading usdjpy as well.

Resistance levels for USD

The Dollar strengthened sharply since the beginning of May as I have already expected . You can follow me on twitter for frequent updates on my trades and recommendations . I see the dollar stalling for the current levels . We have 1.3480$ level which is a very critical support for the pair and I believe we will see a rebound to 1.37 before any retest of that support level again. Also , Eurusd has major support at the famous 1.1860$ and it is expected we might retest 1.20$ floor soon. Usdjpy is still unable to break above bearish trendline and showing strong bearish divergence . So a decline to 107.80 to 108.30¥ is most probably coming this week.

Eur/usd supported by 61.8% fibo

Eur/usd found some support after NFP payroll release which gave some strength to the US dollar . The support came at 1.2435$ where 61.8% fibonnaci level for the move from 1.2385$ to 1.2520$ . The pair bounced slightly to 1.2456$ at the time of writing , most probably it is a dead cat bounce and we will continue to fall sharply towards 1.2260$ area.

Xrp/ripple holding gains at 1.30$

Xrp/usd (ripple) has been consolidating for two days now after surging from 85 cents to 1.60$ The pair lost momentum and returned to test 50% retracment level of the move . Most probable we will have another leg up towards 2.10$ area before falling back again , so it is preferred to go long at current area targeting a 60% gain. Stay tuned for updates on this trade and more trading recommendations .

Nzd and aud should reverse

Both aussie and kiwi are not my favorites for trading. Although they seem easy to analyze , however both need patience and easy nerve. Both have rallied since the beginning of june , NZD/USD stalling at current level and possible reversal this week. I am short at current level 0.7220$ and my stop loss will be any daily close above 0.7220$... I am also short on aussie for a reversal from 0.7560$ area, both trades are initiated by dollar reversal and commodities reversalnas well. Dollar is turning bullish and uk election results will drive the majors to new low in june... Going long on cable will be at 1.2540-80$ area targeting 1.2730$

Platinum trade recommendation

I have been recommending going ling on platinum lately. It managed to rebound to 951$. It is still facing some resistance at 945$ and it is not able to close above 945$ on the 4h chart. Buy platinum if you are not already long , your stop loss should be on closing below 936$ on the 1h chart. Platinum retreated after touching he 200 moving average on the 1 chart. I think we might see a strong rebound to the area between 970-980$ in the coming days.