USDCAD: Chart of the Day – 20th March 2018

Today’s chart of the day, USDCAD, has broken out of a large area of resistance. The 1.2980 area is visible on both the hourly and daily charts. We had a solid punch through the area during Thursday’s trade, meaning I am now looking for a return to the area.

Upon return to the area I will look to buy, and am currently bid 1.2976. My target is currently 1.3045, my stop is 1.2927. This gives around 1.5R. The order is subject to change, should new structure form ahead, thereby changing the trade dynamics.

 

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EURNZD – Chart of the Day: 15th March 2018

In EURNZD, we have two clear ranges with a ‘no mans land’ between them. I am looking to offer EURNZD at 1.7000, then cover my short and initiate long at 1.6930.

I see both of these levels as very strong, the upper being past ATR today.

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GBPUSD – Chart of the Day: 14th March 2018

Looking to be a buyer of GBPUSD at 1.3918 for a quick pop to the orange line 1.3956.

I believe this to be a high probability area for a bounce as it is multiple prior highs, with an aggressive move through it, trapping sellers.

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GBPUSD – Chart of the Day 9th March 2018

1.3852 in GBPUSD is a fantastic level to pivot short off of. However, it doesn’t quite fit my entry criteria. Depending on how you trade, you may get an entry there.

I will wait for price action in the general area in order to gain more confirmation and confidence in the trade level.

 

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USDCAD: Chart of the Day – 8th March 2018

On USDCAD we have seen two days in a row where we’ve failed to close back above the key daily resistance (silver dashed line).

Should we get a break to the downside, through the green line, I will try to position short.

If I see my entry criteria and manage to position short, I believe we will make a move down to the white line, the next area of structure on the chart.

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EURUSD: Chart of the Day – 7th March 2018

Today I am looking for a bullish bounce in EURUSD off of the 1.2364 area.

This is a huge level of former resistance on the hourly chart and is also visible on the daily chart.

Target at the moment is new highs while my stop loss will need to be at 1.2322.

 

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