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Forex Trading Ideas

05 March 2018

Trading ideas

Gabriel Ojimadu

Short-term trading idea Brent Oil - looking down: 50% downwards correction expected

Trading opportunities: Since hitting a high of 67.70 USD, the market has transitioned into a phase of downwards movement. Cycles and calculations suggest that the drop from the 13th of February isn't complete. I reckon that this downwards correction will continue through the 11th of April and stop at around 57.80 USD (50% of the growth from 44.34 to 71.25). We expect to see 2 upwards corrections over the course of the next 40 days. If the daily bar closes above 67.86 (high from 26/02/18), the case for a drop will disappear.
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Trading ideas

Gabriel Ojimadu

Short-term trading idea FX GBPCAD – looking up: W-model on the cards

Trading opportunities on the currency pair: On the back of declining oil prices, I’m expecting to see the formation of a W-model with targets of 1.8428 and 1.9150. Buyers may retreat to 1.7436 before breaking through May's high (23% of the growth from 1.5837 to 1.7930) to provide themselves with a springboard to push higher. The case for growth will disappear if the weekly bar closes below the A-A channel.
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29 January 2018

Trading ideas

Gabriel Ojimadu

Short-term trading idea FX GBPCHF – looking down: awaiting confirmation of a double top

Trading opportunities on the currency pair: last week, this cross declined by 293 pips to reach 1.3199. This resulted in a double top formation, which will be confirmed should the pair drop below 1.3132. My forecast has the price breaking out of the B-B channel downwards, followed by a further drop to 1.2856 (50.0% of the growth from 1.2220 to 1.3492).
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Trading ideas

Gabriel Ojimadu

Short-term trading idea FX EURCHF - looking down: correction to the 38.2% Fibonacci level at 1.1372

Trading opportunities on the currency pair: since the euro’s collapse in 2015, it’s been trading within the boundaries of the 3-year B-B channel. Considering that the upwards impulse is running out of steam, my forecast is projecting an exit from the C-C channel and a decline to 1.1372. I’m expecting a downwards correction amounting to 38.2% of the upwards movement from 1.0625 to 1.1833.
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15 January 2018

Trading ideas

Gabriel Ojimadu

Mid-term trading idea: FX EURJPY - bull speculation: continuing on the idea from 06/11/17

Trading opportunities on the currency pair: The price is moving according to plan. Buyers have overcome the resistance at 134.50 and reached their intermediate target of 136.00. Now, the road to 139 is open (162% of the 114.85 – 124.08 range). We could see a pullback before the rally recommences. It won’t resume at all, however, if the price exits the 1-1 channel.
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Trading ideas

Gabriel Ojimadu

Short-term trading idea: FX NZDJPY - bull speculation: growth to the upper boundary of the sideways trend expected

Trading opportunities on the currency pair: For several weeks in a row, the Kiwi dollar has been rising against both the US dollar and the Japanese yen. The price is approaching the DTR1 trend line (downwards trend line). In my forecast, I’m expecting a breakout of this line, followed by growth to the upper boundary of the range 75.63 – 83.81.
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27 November 2017

Trading ideas

Gabriel Ojimadu

Mid-term trading idea FX GBP/JPY – bull speculation: continued from the 14th of August

Trading opportunities on the currency pair: 147.81 level has been broken. The next mid-term target is 161.60. On the 4-hour chart, the price is expected to break out of the downwards channel with a target of 150.50. If Brexit talks go well, we can entertain a rise in quotes to around 151.00 – 152.00. The price won’t grow to 161.60 if the weekly candlestick closes below the TR3 line (143.97 at the last bar).
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Trading ideas

Gabriel Ojimadu

Mid-term trading idea FX EUR/JPY – bull speculation: continued from the 6th of November

Trading opportunities on the currency pair: The mid-term target is still 141.06. The intermediate targets are 136 and 139. After a rebound from the 131.40 – 131.80 support zone, the euro is expected to rise against the yen to 134.50. This will not happen if the weekly candlestick closes below 129.50.
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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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