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Forex Trading Ideas

11 September 2017

Trading ideas

Gabriel Ojimadu

Short-term trading idea FX USDJPY – bear speculation: building on the idea from 14/08/17

Trading opportunities on the currency pair: On Friday the 8th of September, before exchanges closed for the weekend, the dollar fell below the C-C channel in a drop amounting to 61.8% of the upwards movement from 101.19 to 118.66. Cyclical analysis indicates that the dollar is set to fall further; to 105.96 by the 10th of October. There’s an intermediate support zone with a range of 106.60 – 108.85. The case for a drop will disappear if the dollar manages to quickly recover to 109.65 and break through the trend line.
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Trading ideas

Gabriel Ojimadu

Mid-term trading idea FX EURCAD – bear speculation: building on the idea from the 10th of July

Trading opportunities on the currency pair: In the period from the 12th of July to the 11th of September, the Bank of Canada twice raised interest rates, with the key rate now at 1%. With this in mind, interest in the Canadian dollar is set to rise significantly. In my forecast, I’m predicting a continued drop on the euro to around 1.4351 – 1.4395. After this zone gets broken through, the Canadian dollar is expected to continue strengthening, reaching 1.3960 by the 14th of October this year.
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28 August 2017

Trading ideas

Gabriel Ojimadu

Short-term trading idea FX EURAUD – bull speculation: expecting a breakout of the 1-1 channel

Trading opportunities on the currency pair: The euro has been provided with support by Draghi’s and Yellen’s speeches. In this idea, we’re looking at a breakout of the 1-1 channel at 1.5070 with subsequent growth to 1.5250. It’s worth betting on a rise should the price get a foothold above 1.5070. If the price exits the 3-3 channel downwards and trader sentiment switches from bullish to bearish, this scenario will not play out.
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Trading ideas

Gabriel Ojimadu

Short-term trading idea FX NXDCAD – bear speculation: drop to the TR trend line

Trading opportunities on the currency pair: On the back of a revision of New Zealand’s GDP forecast, the upcoming parliamentary elections (23rd of September), and a rise in oil quotes, the Kiwi dollar is expected to fall against its Canadian counterpart to 0.8893, or as far as 0.8645 if we see some aggressive selling.
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14 August 2017

Trading ideas

Gabriel Ojimadu

Short-term trading idea FX GBPJPY – bull speculation: rebound from the trend line

Trading opportunities on the currency pair: On Friday, the 11th of August, trading on the GBPJPY pair closed around the TR3 trend line. In this idea, I’ll be looking at the possibility of an upwards rebound and a breakout of the resistance zone of 147.50 – 148.50 in a triangular formation.
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Trading ideas

Gabriel Ojimadu

Short-term trading idea FX USDJPY - bull speculation: possible rebound from the lower boundary of the C-C channel

Trading opportunities on the currency pair: Despite the rise in geopolitical tensions between the US and North Korea, some technical bullish signals are being seen on the US dollar. The lower boundary of the C-C channel and the 50% level have formed a strong support zone between 108.13 and 108.73. A double bullish divergence has formed between the price and the AC indicator. The daily candlestick on Friday closed with a doji. If the price starts to grow from its current level, should it break 109.90, this growth will continue to 111.05. I’m expecting to see a rebound from 108.13 with a target of 110.57.
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24 July 2017

Trading ideas

Gabriel Ojimadu

Short-term trading idea FX AUD/NZD – trading sideways: cross in a narrowing formation

Trading opportunities on the currency pair: A pin bar has formed on the weekly timeframe. Given that the pair has long been trading within a certain range for a while, it might not work out. Pin bars often fail to fully form, so let’s keep an eye on the current bar.
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10 July 2017

Trading ideas

Gabriel Ojimadu

Short-term trading idea FX EUR/USD – bear speculation: rebound from the upper boundary of the A-A channel

Trading opportunities for the currency pair: The price is trading around the upper boundaries of the A-A and C-C channels. On the monthly timeframe, there’s a risk of falling to 1.25, but the euro is expected to strengthen significantly from September onwards. In connection with this, the range from 1.1475 to 1.1595 will be used for selling euros, with targets of 1.12 and 1.0925. If, from September, the price continues to trade above 1.1290, it would be wise to close all short positions. In such a case, buyers will push the price to 1.25 to the upper boundary of the D-D channel. If we get a breakout of the C-C channel in July, it’s worth changing our target from 1.25 to 1.27.
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Trading ideas

Gabriel Ojimadu

Mid-term trading idea FX EUR/CAD – bear speculation: loonie to rise in anticipation of a rate hike from the BoC

Trading opportunities on the currency pair: On the expectation that the Bank of Canada will raise interest rates on the 12th of July, as well as the recovery in oil prices, I’m expecting the pair to fall to around 1.4340 – 1.4395. If the first half of my prediction works out, then we can set a target of 1.3880 for the 14th of October.
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