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Forex Trading Ideas

06 November 2017

Trading ideas

Gabriel Ojimadu

Short-term trading idea FX USD/JPY – bull speculation: breakout of the trend line expected

Trading opportunities on the currency pair: Large and small speculators are both keeping open positions against the yen. According to cyclical analysis, the dollar’s phase of strengthening will come to an end between the 8th and 23rd of November somewhere between 115.40 and 116.07. I reckon that buyers won’t be able to break through the resistance zone (114.60 – 115.00) on the first attempt and a new rally will start from 112.45 – 113.35, which will continue until the end of the year. The main target is 119.24, while the most immediate target is 116.60. The case for growth will disappear if the daily candlestick closes below 112.50.
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Trading ideas

Gabriel Ojimadu

Mid-term trading idea FX EUR/JPY - bull speculation: euro to strengthen inside the 1-1 channel

Trading opportunities on the currency pair: Prime Minister Shinzo Abe’s comfortable election victory in Japan has increased expectations that the central bank’s current monetary policy will remain in place. Both currencies are under pressure, so the pair is trading sideways. In my forecast, I’m expecting a breakout of the 134.50 resistance with a subsequent growth to 141.06 (high from June 2015) inside the 1-1 channel. The intermediate targets are 136 and 139. This scenario will not happen if the weekly candlestick closes below 129.50.
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23 October 2017

Trading ideas

Gabriel Ojimadu

Short-term trading idea FX AUD/NZD – bull speculation: buyers preparing to exit the weekly range

Trading opportunities on the currency pair: The Kiwi dollar came under intense pressure following New Zealand’s parliamentary elections. The Aussie is expected to continue strengthening to reach 1.1425 (61.8% of the downwards wave from 1.1019 to 1.0371) by the beginning of December this year. After a month of consolidating at the beginning of 2018, 1.1425 level is likely to be broken, with subsequent growth to 1.1670 (100% of the downwards wave from 1.1019 to 1.0371). This forecast will be cancelled if the price breaks through the TR3 trend line. Background
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Trading ideas

Gabriel Ojimadu

Short-term trading idea FX EUR/GBP - bear speculation: euro to drop to 0.8624

Trading opportunities on the currency pair: A double top has formed at the 50% level, which has strengthened the bearish engulfing candlestick pattern. Taking the bearish factors into account, the euro is expected to drop to 0.8624. A drop on the EURGBP pair to 0.8856 would be a positive signal for this forecast.
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09 October 2017

Trading ideas

Gabriel Ojimadu

Short-term trading idea FX EUR/USD – bull speculation: right shoulder to form

Trading opportunities on the currency pair: Since dropping to 1.1662, the rate has formed an inverse head and shoulders model on the daily and weekly timeframes. For its completion, the right shoulder needs to form with a target of around 1.1880 by 23/10/17. By the end of October, downwards movement should resume. Therefore, from 1.1880, we can start betting on the rate to decline. It seems to me that ideally, this reversal model won’t work out. Trade carefully.
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Trading ideas

Gabriel Ojimadu

Short-term trading idea FX GBP/USD – bull speculation: rebound from the TR2 trend line

Trading opportunities on the currency pair: Since the 20th of September, the British pound has shed around 600 pips against the US dollar. The drop started with a pin bar model. From looking at the cycles, I’m expecting the rate to drop to the TR2 trend line or the range from 1.3000 to 1.3016, followed by a recovery to 1.3350 – 1.3490. We should keep the 21st of October and 29th of November in mind for possible reversal dates. From the trend line, I’ll start trying to trade with the trend with targets of 1.3350 and 1.1390. After the 28th of November, I’m expecting a downwards reversal and a breakout of the TR2 trend line.
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20 September 2017

Trading ideas

Veselin Petkov

Mid-term trading idea XAU/USD – to buy or to sell? The Fed’s decision will tell

Today, before the opening of the European session, gold was trading at 1,313.54 USD per Troy ounce. This is the second day in a row that gold has traded below the trend line on the 4-hour timeframe.
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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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