Daily technical & fundamental analysis for multi-forex pairs

Sell limit EUR/USD | Nov 29, 2019
The video explains entry, invalidation point and target. Note that scalpers can go long buy entering buy at FIB30.0 of recent bounce up and can target 1.1049.
 
AUD/USD analysis | Dec 4, 2019
Fundamental: Trump said that he will probably be looking for a trade deal with China after election. This is bad news for AUD as it behaves like proxy currency of China.

Quarterly GDP from Australia came 0.1% less than forecast, although revision was 0.1% better. Anyway, it is not positive.



There is high probability of ABCD retracement on 1H time-frame. Even if AUD is gonna continue uptrend, this garley doesn't contradict with further continuation to uptrend. It may first form the gartley and then may continue to upside but it depends on upcoming fundamental factors. As of now, downward move seems eminent and gartley is more likely to be completed.

AUD USD_H1_ Dec 4_2019.png


It had gone up to Fib 61.8% level of downswing on D1 and then started moving down, which makes a good technical scenario.
AUD USD_D1_Dec 4_2019.png


Risk: close the position in loss if D1 closes above yesterday's high.

 
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Sell EUR/USD | December 4, 2019
Watch video for fundamental & technical analysis with clear explanation of SL, TP & entry level.
 
Buy Stop in USD/JPY



Update: ISM Non-Manufacturing PMI came slightly less than forecast but the deviation is too small to be bearish for USD/JPY. Forecast (shown on calendar of many sites) is an average of forecasts of many analysts, it is not a fixed figure, different analysts have different forecasts, so price action post release is the key to enter a news trade. Therefore, I entered buy at 108.831.
 
Sell CAD/JPY


Note: I said in the video that there is no significant data from Canada during NFP release, although employment data from Canada is gonna be released at same time but it will be ignored by the market. I have always seen that other economic data are ignored during release of NFP as traders predominantly focus on NFP.

Read description of the video at Youtube for non-video/text+image version of this analysis.
 
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AUD/USD analysis | Dec 4, 2019
Fundamental: Trump said that he will probably be looking for a trade deal with China after election. This is bad news for AUD as it behaves like proxy currency of China.

Quarterly GDP from Australia came 0.1% less than forecast, although revision was 0.1% better. Anyway, it is not positive.



There is high probability of ABCD retracement on 1H time-frame. Even if AUD is gonna continue uptrend, this garley doesn't contradict with further continuation to uptrend. It may first form the gartley and then may continue to upside but it depends on upcoming fundamental factors. As of now, downward move seems eminent and gartley is more likely to be completed.

View attachment 49012

It had gone up to Fib 61.8% level of downswing on D1 and then started moving down, which makes a good technical scenario.
View attachment 49013

Risk: close the position in loss if D1 closes above yesterday's high.


Closed ahead of NFP with +9.0 pips.
 
How to trade NFP with EUR/USD or USD/JPY
This video gives an update on previous EUR/USD position, as well explains how to trade NFP.

 
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