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Forex Trading Ideas

26 June 2017

Trading ideas

Gabriel Ojimadu

Short-term trading idea FX AUDCAD – bull speculation: price to restore to 1.0327

Trading opportunities for the currency pair: The price has twice rebounded from the S1 line. Because of this, the Aussie dollar is expected to strengthen against its Canadian counterpart as far as the TL1 line with targets of 1.0211 (high point from the 7th of June) and 1.0327. This scenario will not play out if the daily candlestick closes below 0.9948.
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Trading ideas

Gabriel Ojimadu

Short-term trading idea FX EURGBP – bull speculation: strengthening Euro with a jump to 0.8652 expected

Trading opportunities for the currency pair: A W-model has formed on the weekly timeframe. Keep an eye on 0.9083 level. Cycles suggest a slide to 0.8652 by 10/07/17, followed by growth to 0.9081 by 15/08/17.
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12 June 2017

Trading ideas

Gabriel Ojimadu

Short-term trading idea FX AUD/USD - bear speculation: return to 0.7345

Trading opportunities on the currency pair: the price is currently trading in the middle of the range formed since April 2016. Large and small speculators alike are unsure what to do with the Aussie currency. Problems in China and a drop in raw assets prices have put pressure on the economy and the RBA remains in favour of reducing interest rates this year. Because of this, my first (and base) scenario has the price rising to 0.7605/10 followed by a return to the trend line at 0.7345.
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Trading ideas

Gabriel Ojimadu

Short-term trading idea FX NZD/USD - bear speculation: rebound from the upper boundary of the 1-1 channel

Trading opportunities for the currency pair: the last 4 weeks have seen the formation of a short-term bullish trend on this pair. There are no clear sell signals for the Kiwi dollar at this moment in time. A reversal model could form by the 22nd of June. Cycles point towards a slide for the exchange rate down to the TR2 trend line. As the upwards movement subsides, the target for downwards movement will be around 0.6938. If the weekly candlestick closes above 0.7376, this scenario will not play out.
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29 May 2017

Trading ideas

Gabriel Ojimadu

Short-term trading idea FX EUR/AUD - bear speculation: expected breakout of the trend line

Trading opportunities on the currency pair: A doji has formed on the weekly chart. On Friday the 26th of May, trading closed with the formation of a reversal hammer. Between the price and the AC indicator, a double bearish divergence has formed. This increases the risk of a breakout of the TR3 trend line. I'm predicting some correctional movement towards the TR4 line at 1.4690. This scenario for decline will remain in place unless the price manages to break out of the 1-1 channel.
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Trading ideas

Gabriel Ojimadu

Short-term trading idea FX GBP/USD - bear speculation: expected drop below the 1.2550 - 1.2710 support zone

Trading opportunities on the currency pair: The British pound's slide began on Thursday the 25th of May, after the release of downwards revised GDP data for the first quarter. Pressure on the currency increased after a breakout of the upper boundary of the A-A channel and the TR trend line. The GBP/USD rate returned to the 1.2550 - 1.2710 zone, which had been acting as a resistance until the 18th of April. My base scenario sees the rate falling to around 1.2643 in time for the FOMC meeting on the 13-14th of June.
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15 May 2017

Trading ideas

Gabriel Ojimadu

Short-term trading idea FX EUR/GBP - bull speculation: expected breakout from the 2-2 channel

Trading opportunities for the currency pair: At this very moment, the price is located within the 2-2 channel. A beautiful triangular structure has formed from the high at 0.8531. According to my prediction, the price will exit this range and subsequently grow as far as the upper boundary of the 1-1 channel at 0.8590. The case for growth will disappear if the daily candlestick closes below 0.8325.
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08 May 2017

Trading ideas

Gabriel Ojimadu

Short-term trading idea FX USD/JPY - bear speculation: possible rebound from the trend line

Trading opportunities on the currency pair: The price has stalled at the upper boundary of the C-C channel or trend line. Large speculators have been closing their long positions as the price approaches the trend line. According to the latest COT report, major players are doubtful of a breakout here. Typically, from the trend line, one should be looking to sell dollars with a stop level above 113.05 (depending on the level of risk as the individual trader sees it). The fall to 111 should be seen as a correctional phase for the growth from 108.13 to 113.05.
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Trading ideas

Gabriel Ojimadu

Short-term trading idea FX USD/CAD - bear speculation: weekly pin bar

Trading opportunities on the currency pair: Trading on the dollar closed down on Friday. This fall was brought about by the closing of long positions before the weekend (French elections) and by appreciating oil (technical rebound). Friday's candlestick engulfs the previous three daily candlesticks. A pin bar with a long shadow has formed on the weekly timeframe. Everything is pointing to the start of a correctional phase. A sharp drop against the trend always raises suspicion, so my forecast is predicting a drop for the dollar through a double top formation. The target is 1.3476. Traders should look to sell at around 1.3777/1.38 and to set stop levels above 1.3865.
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Alexander Razuvaev

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Gabriel Ojimadu

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