Shorts-and-longs by Alexander Kul

[alextrader79]

Aggressive purchases were observed on USD/CAD during this week. The Canadian dollar has weakened against the US dollar by more than 175 points. The currency has reached the 1.3490-1.3525 key offer zone. I don’t exclude a correction on this pair after such a sharp increase in the nearest future. I’ll sell, if the price fixes below the 1.3460 local support. The goal is the 1.3400 round level.

 

[alextrader79]

The Canadian dollar hasn’t got through the 1.3460 local support. The currency was traded in flat. It is testing the 1.3460 mark at the moment. I’m still waiting for a correction. I’ll sell the pair, if the price fixes below this level. Potential movement – to 1.3400.

 

[alextrader79]

The pound is flat during the latest sessions. The key range is 1.2770-1.2860. I’ll wait till the price leaves this zone.
I’ll sell GBP/USD, if the price fixes below 1.2770. It can move to the 1.2700 round level.
If it fixes above 1.2860, I’ll buy the pair. The nearest goal for taking profit is 1.2900.
Today’s data about retail sales in the UK can be a good cause for the market volatility.

 

[alextrader79]

An interesting technical pattern has appeared on AUD/USD. Today’s trading was opened with gap up. The pair has closed the morning gap and kept the 0.7545 “mirror” support. The MACD histogram is in the positive zone and is continuing to rise. The “Triangle” figure has formed on the market. I plan to buy it, if the price fixes above 0.7565. The goal for taking profit is 0.7590.

 

[alextrader79]

USD/JPY has opened with gap up (more than 140 points) today. The technical pattern is ambiguous for me at the moment. I’ve identified the following levels:
Support – 109.85
Resistance – 110.45
I plan to open positions after the price fixes above/below these levels.

In case of the breakthrough of the 110.45 level, I’ll buy USD/JPY. Potential movement - to 110.75-111.00.
I’ll sell it, if the price falls below the 109.85 local support. Potential movement - to 109.35.

 

[alextrader79]

The GBP/USD currency pair continues being flat. The key trading range is still 1.2770-1.2860. I plan to open deals if the price fixes above/below the boundaries of the trade corridor.
I’ll sell, if the price fixes below 1.2770. Potential movement - to the 1.2700 round level.
I’ll buy, if the price fixes above 1.2860. The goal for taking profit is 1.2900.

It seems to me that the currency can be flat until Friday, April 28. The quarterly data on GDP in Britain will be published on Friday.

 

[alextrader79]

An interesting technical pattern has appeared on the NZD/USD pair. The New Zealand dollar is testing the 0.6985 key support level. The MACD histogram has fixed in the negative zone, below the signal line. It indicates the sellers’ strength. I will sell NZD/USD after the breakthrough and retest of the 0.6985 mark. Potential movement - to 0.6940. This transaction can last for several days.

 

[alextrader79]

There are no important economic reports from the EU today. The speech of D. Trump will be in focus. He’ll tell the details of his tax reform.

The technical pattern on EUR/USD is ambiguous for me at the moment. A fairly strong reversal formation has appeared on the market (the divergence of the price and the MACD indicator). I’ll sell the pair, if the price fixes below the 1.0920 local support. Potential movement - to 1.0875-1.0840.

At the same time, I don’t exclude the further growth of EUR/USD. If the price fixes above 1.0950, I I’ll buy the pair. Potential movement - to the 1.1000 round level.

 

[alextrader79]

My yesterday's expectations for NZD/USD have confirmed. The currency is trading near the strongest support at 0.6890 now. The MACD histogram indicates the sellers’ strength. I’m going to open deals in the current trend’s direction. I’ll sell it, if the price fixes below 06890. Affirmations and entry points will be found at small timeframes. A potential entry point may appear within a few days.

 

[alextrader79]

There is an increase in demand for the Canadian dollar at the moment. This happens due to the fact that the US doesn’t intend to leave the North American Free Trade Zone. A classic Price Action pattern, the “Outside Bar”, has formed at the H4 timeframe. I expect a correction for USD/CAD. I’ll sell, if the price fixes below 1.3525. Potential movement – to 1.3450. Confirmations and entry points to the market can be searched on younger timeframes.