Daily Technical and Fundamental analysis for multi pairs.

[luckyanand12]

Buy stop in USD/JPY | Oct 18, 2019
Almost all major currencies like EUR, AUD, CAD etc. gained significantly against USD yesterday but JPY gained just a little, which keeps bullish scenario intact on USD/JPY. Break above 108.70 will lead it to next level that is FIB61.8 shown in graph of daily time-frame below:

The idea of buy stop is supported by morning doji star formed on H1 time-frame that is shown by ellipse. I kept SL 5.0 pips below low of the morning star shown at H1 and TP 2.0 pips below FIB 61.8 shown at D1.

Here is graph of H1:

 

[luckyanand12]

AUD/USD short trade | Oct 17, 2019
After 3 drive, at least 30% downward retracement is more likely to take place. Upcoming event of RBA's Lowe may cause many traders and fund managers to close buy positions to book profit, which may help downward retracement.

Sell stop right blow low of H1 candle marked with.
Target 30% of whole 3 drive, that is 0.6785 (± 3.0 pips).
Setup fails if any H1 candle closes above latest high.

Change in sell stop | October 18, 2019: recent movement is sluggish, I will short below red (small trend line). TP 2.0 pips above 30% of 3 drive.

 

[luckyanand12]

Scalp buy trade in USD/CHF | Oct 21, 2019
Price close above 3x3 SMA then closed below it and then again closed above 3x3 SMA (blue line). It seems to be sort of double repo pattern.

Its classical target if FIB50.0 but I'm just targeting FIB38.2. TP 2.0 pips below FIB38.2 and SL 1.0 pips below swing low.

 

[luckyanand12]

Scalp sell in AUD/USD

 

[luckyanand12]

Scalp buy trade in USD/CHF | Oct 21, 2019
Price close above 3x3 SMA then closed below it and then again closed above 3x3 SMA (blue line). It seems to be sort of double repo pattern.

Its classical target if FIB50.0 but I'm just targeting FIB38.2. TP 2.0 pips below FIB38.2 and SL 1.0 pips below swing low.
View attachment 45024

The trade was accomplished at TP/target.

 

[luckyanand12]

Scalp sell in AUD/USD
View attachment 45025

The trade has been accomplished at TP/target.

 

[luckyanand12]

Bread & Butter buy trade in AUD/USD
Here is a setup for Bread and Butter buy trade in AUD/USD on H4 time-frame. I have set buy limit a few pips below current price to obtain risk reward ratio of at least 1:1.

 

[luckyanand12]

View attachment 45065 Bread & Butter buy trade in AUD/USD
Here is a setup for Bread and Butter buy trade in AUD/USD on H4 time-frame. I have set buy limit a few pips below current price to obtain risk reward ratio of at least 1:1.

The trade has been accomplished at TP/target.

 

[luckyanand12]

Kind of Bread & Butter buy pattern at EUR/USD | Oct 29, 2019
At H4 time-frame: We have a Bread & Butter look alike pattern. Classic target of Bread & Butter is 61.8% of whole retracement down against the bullish thrust shown on H4 in this trade. I set my TP 1.0 pips below FIB61.8 that is 1.11374

Technical condition on H1 also support a scalp buy trade, view below. This setup will fail if any upcoming H1 candle closes below previous engulfing bullish H1 candle that formed EMAs & RSI crossovers.

Fundamental: TD (TD Bank, N.A.) expects the Fed to lower rates by 25bp again this week, delivering the third consecutive rate cut since July. The FOMC is likely to communicate patience in deciding future policy moves after next week's cut as they assess the impact of the three cuts they have already delivered.



"We look for the Fed to temporarily pause before resuming rate cuts in Q1 2020," TD notes.



I agree with this bias. Fed is either gonna cut rate by 25bp or at least going to be dovish.

This sentiment is enough for completion of this small scalp trade.

 

[luckyanand12]

Kind of Bread & Butter buy pattern at EUR/USD | Oct 29, 2019
At H4 time-frame: We have a Bread & Butter look alike pattern. Classic target of Bread & Butter is 61.8% of whole retracement down against the bullish thrust shown on H4 in this trade. I set my TP 1.0 pips below FIB61.8 that is 1.11374

View attachment 45141

Technical condition on H1 also support a scalp buy trade, view below. This setup will fail if any upcoming H1 candle closes below previous engulfing bullish H1 candle that formed EMAs & RSI crossovers.
View attachment 45142

Fundamental: TD (TD Bank, N.A.) expects the Fed to lower rates by 25bp again this week, delivering the third consecutive rate cut since July. The FOMC is likely to communicate patience in deciding future policy moves after next week's cut as they assess the impact of the three cuts they have already delivered.



"We look for the Fed to temporarily pause before resuming rate cuts in Q1 2020," TD notes.



I agree with this bias. Fed is either gonna cut rate by 25bp or at least going to be dovish.

This sentiment is enough for completion of this small scalp trade.

Closed ahead of US Advance GDP q/q with +8.0 pips.