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Forex Trading Ideas

10 April 2017

Trading ideas

Gabriel Ojimadu

Short-term trading idea FX GBP/USD - sideways trend: price trading in the middle of the range

This pair has been in a sideways trend for half a year (6 months or 128 trading days). Any news about a 'hard' Brexit has a negative influence on the British pound. The breakthrough of the minimum from the 7th of February has opened the way to the lower line of the "2-2" channel. The distance to the lower boundary of the channel at 1,2210 is 160 pips while the distance to the upper line at 1.2550 is 180 pips. If we don't experience an upwards bump today and the pound continues to slide, the it's better to think about selling.
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27 March 2017

Trading ideas

Gabriel Ojimadu

Short-term trading idea FX JPY/EUR - bull speculation: rebound from the trend line

On Friday, the exchange rate on this currency pair rebounded from the trend line and a bullish engulfing pattern appeared on the daily candlestick. The Stochastic (5,3,3) has reversed upwards in the buy zone. Taking these signals into account, I’m expecting to see some growth on the cross to 124.00. In order for this to come off, buyers need to break the 120.32 level on the hourly timeframe to open the way towards 121.15 level. This scenario will not play out if the daily candlestick closes below 118.50.
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13 March 2017

Trading ideas

Gabriel Ojimadu

Short-term trading idea FX EUR/USD - a bull’s game: strengthening of the euro expected by way of correction

Movement on the EUR/USD pair continues to correlate with that of 2005. According to historical patterns, a large downwards correction is due to take place after the 15th of April. Despite this, the rate may still deviate significantly upwards. After Friday’s payrolls, the price came out of the 1.0494 - 1.0626 range. As it breaks 1.0715, growth will accelerate to 1.0780. This is where the euro will stop growing and a symmetrical triangle will form. If a rebound doesn’t follow from this, and the rate breaks the 1.0829 support, we could see the price restore all the way to 1.1021. Should the daily candlestick close below the 2 copy line, then we can forget about this potential surge. We’re working towards 1.1021 with an eye on the 1 copy and 2 copy lines. The euro should reach the TR1 trend line by the 10th of April.
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06 March 2017

Trading ideas

Gabriel Ojimadu

Short-term trading idea: FX NZDJPY - a lowering game: support broken through at ¥80.45

On Friday, buyers gained a foothold under the minimum 80.45 from 23/02/16. A double top offers a good opportunity for taking a short position. The target for this forecast is ¥78.41 (61.8% from the range ¥80.45 - ¥83.81). I'm allowing for a fall in the NZD/JPY rate to the TR trend line at ¥78. This fall will not happen if the upper boundary of the A-A channel is broken through.
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27 February 2017

Trading ideas

Gabriel Ojimadu

Short-term trading ideas FX AUD/USD - a lowering game: retreat from the upper boundary of the A-A channel

On the weekly chart, a doji and a bearish signal have formed on the Stochastic oscillator. On the daily chart, a double top has formed. Moreover, there is a bearish divergence on the AO and CCI indicators. In this idea, I'm envisaging a fall in the rate to the trend line at 0.7480 by the 27-29th of March 2017. If this fall gathers pace and the rate closes below the trend line, then we might see a slide to 0.7262. It would be prudent to rule out such a fall if the daily candle closes above 0.7790.
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Trading ideas

Gabriel Ojimadu

Short-term trading ideas FX EUR/GBP - a lowering game: awaiting polling data for French presidential candidates

On Friday, trading on the euro closed up. According to cycles, the rate should restore to around the 0.8600 mark. A CCI level of -100, as well as the intersection of the slow and fast lines on the Stochastic oscillator, should facilitate a strengthening of the euro against the pound. Polling data for the French presidential candidates remains the main driver for the single currency.
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