US Dollar Index DXY & USDCHF Potential failing rally on a Cypher Pattern - 27th Oct, 2014

US Dollar Index DXY & USDCHF Potential failing rally on a Cypher Pattern - 27th Oct, 2014

Hourly Chart

Outlook Trade opportunity

The Cypher on the DXY chart is a much better 78.6 where it is at a good Resistance level, however on the USDCHF its not as significant. How we may play this is we can also anticipate that the dollar strength might fail to rally to new highs for the meantime and some weakness is to come. Being the case we could play the majors dollar crosses and find the strongest currency against the USD to go long.

Risk Level __

Tips -

Always take note of any economical news event on our provided calender below

Résuméabuiyad

USDCHF - Trade setup - Cypher pattern

USDCHF - Trade setup - Cypher pattern

Hourly Chart

Outlook Trade opportunity

I have been monitoring this pair for the whole week, as it reach potential resistance. With the market condition favouring a dollar correction
here is a good area to sell this pair is at the 78.6 - (cypher pattern), and looking towards 0.91

Risk Level LOW

Tips -

Always take note of any economical news event on our provided calender below

Résuméabuiyad

XAUUSD Gold Forecast and Trade setup

XAUUSD Gold Forecast and Trade setup 

Weekly Chart

• RSI is showing weakness

Daily Chart

• Bullish Cypher is possible Note this pattern is not the same as the one on the 4hr chart

Hourly Chart

• 4hr Bullish cypher is possible at the next support zone
• Near term price action is in a bearish momentum, however price is trying to go back above support where it could be a false break ,
• on the other hand, price could drop to the next support if US Data is hawkish tonight

Outlook Trade opportunity

Bit of an unknown for short term trade, however, personally i have taken a short position targeting 1260-65's

Risk Level High

Tips -

Always take note of any economical news event on our provided calender below

Résuméabuiyad

NZDUSD Forecast and Trade setup for August / September 2014

NZDUSD Forecast and Trade setup for August / September 2014

- Cypher in play?! and with other factors supporting

Monthly Chart

• Trend is still bullish and trading above the highs of last Decades
• RSI broke the descending channel and possible test of the ascending trendline
• Possible that we have yet to reach the D as shown on the chart 

Weekly Chart

• Broke out of the triangle, it is possible for price to move back in it before continuing to the upside burst
• RSI broke to the downside

Daily Chart

• Cypher Pattern identified, (another pair is the GBPUSD also has the same pattern)
• RSI broke to the upside and is a good indication for longs
• Stochs also positive divergence

Hourly Chart

• If you haven't entered , advisable to enter at a retrace after it breaks the descending channel.
• RSI broke to the upside

Outlook Trade opportunity

Just read the Daily and Hourly for clues !
Good for a H4 chart trade 
or 
Position trade on a Daily / Weekly - With wide stops

Risk Level LOW

Tips -

Always take note of any economical news event on our provided calender below

Résuméabuiyad

GBPUSD Forecast and Trade Setup for the week ending 29th August, 2014

GBPUSD Forecast and Trade Setup for the week ending 29th August, 2014

Weekly Chart

• Still very bearish with No signs of reversal or pause yet

Daily Chart

• As identified previous weeks, of the potential cypher pattern, we are at the PRZ zone, however it is to note that its nearest resistant is quite strong especially with the huge downtrend
• Correct stops should be in place below the X (below the weekly S2)
• Lower Lows in price but RSI is not showing the same, (Positive Divergence)
• Could play the break of trendline on RSI
• Last week Broke support so need to be cautious

Hourly Chart

• Monday morning gaped down while on the 4HR chart at the really bottom of the support zone on my chart.
• 1st 4Hr candle is bullish to me,

Outlook Trade opportunity

While looking through my charts, I noticed that the DXY Dollar Index has reached a supply and demand zone and reacted from there, therefore it gives a long trade opportunity for the pound dollar for a intraday move and perhaps a longer hold trade (as per the Cypher on daily)

Risk Level - LOW

Tips -

Always take note of any economical news event on our provided calender below

Résuméabuiyad

NZDJPY Bearish Cypher Scalp 15min Chart - 15th August, 2014

NZDJPY Bearish Cypher Scalp 15min Chart - 15th August, 2014

15 Min Chart

• Pattern is forming at resistance
• Also at a 87 number

Hourly Chart from yesterday's analysis setup

Link to yesterday's setup is here - 

Outlook Trade opportunity

Sell limit at 78.6 fib retrace level

Risk Level LOW

Tips -

Always take note of any economical news event on our provided calender below

Résuméabuiyad

NZDJPY Trade Setup for 14th August, 2014

NZDJPY Trade Setup for 14th August, 2014

1 Hr Chart

• If prices do get to the R2 Daily Pivot , it has very good confluence levels there
• 127.2 Inverted Fib
• 200 inverted fib
• 78.6 Fib Retrace level
• and Daily Range high (using average pip movement per day)

• We also have two harmonic patterns identified from my EA which usually is a good indication as well, 
• If you switch to a 4hr chart, the downward slopping 100SMA is at this level,
• We also have a small 1hr shooting star during asian session

Outlook Trade opportunity

Perhaps short trade opportunity now or later depending how you see the market

Risk Level Low

Tips -

Always take note of any economical news event on our provided calender below

Résuméabuiyad

GBPUSD Forecast and Trade Setup for the week ending 15th August, 2014

GBPUSD Forecast and Trade Setup for the week ending 15th August, 2014

Weekly Chart

• Trading Below the Kijun-sen after rejecting from weekly resistance zone

• Clouds indicating a bullish forecast still

Daily Chart

• Broke Clouds and Bearish Cloud outlook 
• RSI is trading below 50 
• Stochastic is in oversold and still pointing south

• We are approaching support and fib levels, however my bias is that it could not hold, due to the very strong momentum 
• We also broke the wedge trendline

• Bullish Cypher pattern is identified (PRZ Zone could be wider than usual)
• At fib 78.6 and 127.6
• 200SMA (not shown on chart)
• Ascending Trendline as shown on the chart previous

Outlook Trade opportunity

Note We have Wednesdays Carney's speech and Fridays GDP from the UK,

At this stage, only interested in taking short positions from resistance however, some minor retrace is anticipated early in the week. Only till when price reaches my PRZ / BUY zone that i shall look for signals to go long

Risk Level .... n/a

Tips -

Always take note of any economical news event on our provided calender below

Résuméabuiyad

USDCHF Forecast and Trade Setup for the week ending 15th August, 2014

USDCHF Forecast and Trade Setup for the week ending 15th August, 2014

Following my forecast from the 1st of August of my bearish view of this pair, Now a week later, the market had given extremely good signals to confirm that the trend may shift to the downside in the near term.,

Weekly Chart

• Stochastic Negative Divergence
• Exhaustion Candle rejection from weekly resistance zone and 38.20 fib

Daily Chart

• Stochastic Crossed over and pointing south
• MACD Crossed Over
• Exhaustion Candles with continuous wicks / and also from the upper channel trendline

• Bearish Harmonic Bat Pattern completing at 88.6 / Resistance zone and which is also a inverse previous swing fib ext of 161.8
• Candle Closed below Tenken-san line (Red line) for the first time since the bullish run

Hourly Chart

• Performed a lower low while breaking resistance
• 30 and 50 SMA crossed
• Negative divergence with RSI under the 50

• Clouds forecast changed to bearish
• Positive Divergence on stochastics - which could be ignored

Outlook Trade opportunity

Clearly we have tons of bearish points (In red) and only one bullish points (in blue), therefore, if your not already in a trade, I would look for price to retrace to a 38.20 fib and look for price action (engulfing/exhaustion/doji etc candle) to take a short position.

Risk Level LOW

Tips -

Always take note of any economical news event on our provided calender below

Résuméabuiyad

EURGBP - Forecast and Trade Setup for the week 4th August, 2014

EURGBP - Forecast and Trade Setup for the week 4th August, 2014

Daily Chart

• We have a small bearish Cypher Pattern completing around the 80 even number level

• I personally anticipate there should be some reaction from that level, however could be short lived - so possibly just a small 1:1 target

• My near to medium term forecast for this pair is long because the Euro performed a Pin bar candle on a weekly from a significant support area, where as the Pound is still very negative and aiming to the next support, So based on that, i would open a long and take not of the bearish cypher so possibly take partials there and manage the trade

Hourly Chart

• We closed the week above resistance, which should not become support,
• note that the 80 level is not far away, but chart wise, we still have 45pips before the next resistance, so happy for longs for a 2 : 1 reward to risk trade (taking partials at 1:1 / cypher)

Outlook Trade opportunity

My near to medium term forecast for this pair is long because the Euro performed a Pin bar candle on a weekly from a significant support area, where as the Pound is still very negative and aiming to the next support, So based on that, i would open a long and take note of the bearish cypher so possibly take partials there and manage the trade

Risk Level __

Tips -

Always take note of any economical news event on our provided calender below

Résuméabuiyad