Sunday, May 22, 2016

Trade Ideas:Eurusd, Usdjpy, Usdcad, Audusd, Audnzd


The move from 1.1610 to 1.1177 is a clear impulse wave, a 3-wave correction , at least, is expected to 1.1344-1.1445 in the coming weeks.

Trade Idea. : Long @ above 1.1235, Stop Loss: 1.1175  Targets: 1.1344, 1.1386, 1.1436


There is a clear impulse wave pattern and price is expected to retrace to 108.682-107.378. The ultimate long term target is below 105.68.

Trade Idea: Sell below 109.66, Exit: 110.63, Targets: 108.68, 108.10, 107.37


The impulse wave from wave (4) is showing the first sign of termination @ 0.71773. We expect a bullish move to 0.7420-0.7579.

Trade Idea: Buy @ 0.7268, Exit @ 0.7170, Targets: 0.7420, 0.7497, 0.7579


Just like what I posted in the last article on Audnzd, there is an expectation that a rally is imminent after the formation of an ending diagonal. Price should stay above 1.0640 to maintain its validity.

Trade Idea: Buy @ 1.0730, Exit: 1.0640, Targets: 1.0805, 1.0902


I expect the bullish move to continue to 1.3310. We will wait for a dip at (1.2987-1.3016) support level  and then look for a long opportunity if price bounces off the support level.

The analytical view will be invalid if price breaks the aforementioned support level downward with high momentum.

Trade Idea: Look for buying opportunity if price dips to (1.2987- 1.3016). Targets: 1.3235, 1.3310

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 This is the blog author's view based on Elliott wave theory and other technical tools.
Though, these tools and methodologies have been proven to be reliable, there is no guarantee that price will go in the direction of the ideas or hit the targets.
Users do so at their own risk, he author and the writer of these ideas will not be responsible ofr any loss of fund as a  result of trading the ideas.
Users are advised use proper money management.

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