Trend Line Analysis : 26/08/2015

Introduction to Trend Line Analysis
Welcome to our newest feature; Trend Line Analysis. Our professional market technician showcases intraday / swing trade setups on a broad spectrum of FX currency pairs. The most effective way to use the setup are:
▪ If indicated price zone holds; consider partial profit taking between 20-40 pips before aiming for the maximum listed target.
▪ If the price zone fails to hold; we likely to see price moving against us. Fail means; the candle closing higher or lower to indicated price zone.

Today I will be quickly going through few pairs. Most were expecting another volatile session as we saw on Monday; but found the markets to be quite smooth comparatively. Still caution advise as if the stocks end up getting sold again; we can see some wild swings again and especially on the JPY.

EURJPY

Going forward 137.4X is resistance and if gets a test and a hold comes in as a decent zone to try shorts for a possible move down to 135.7X; alternatively this T2 zone looks decent to try longs.

EURJPY 2 hr - T2 comes in as a decent support to consider going long. 137.4X expected resistance
EURJPY 2 hr – T2 comes in as a decent support to consider going long. 137.4X expected resistance

USDCAD

The pair is ever looking bullish and with falling oil prices; we just may get to see a print of 1.342X and like to try shorts off there. The pair can use a little correction and if so T4 comes in as an ideal spot.

USDCAD 8 hrs - 1.342X expected resistance and looks good to try shorts
USDCAD 8 hrs – 1.342X expected resistance and looks good to try shorts

GBPAUD

The pair can use some decent retrace / correction. With that in mind; like to try set shorts off from T2 in anticipation of a decent corrective drop.

GBPAUD 4 hrs - Looking at T2 & T3 channel and like to see T2 test for going shorts
GBPAUD 4 hrs – Looking at T2 & T3 channel and like to see T2 test for going shorts

NZDUSD

The pair is stuck within a channel after that big plunge lower to the base of the channel which was quickly recovered.

Can opt to buy off the base of the channel or T2 else prefer to try shorts off T3 test.

NZD 8 hrs - Like to try shorts off the breakout Trend Line T3
NZD 8 hrs – Like to try shorts off the breakout Trend Line T3

 

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