Trade ideas 5 June 2015

By | June 5, 2015

The following are my views for the day ahead. I check the charts before the London session to get a feel for which direction the market may be moving. I then wait for triggers to setup in my planned direction. I usually don’t take all the trades. 

  1. GBPUSD, Should find support at 1.5325. Over the next week, the trend should be down, because it has reached resistance of it’s 4H channel down at 1.544
  2. EURCAD, POSS false break of TR low at 1.40128. Need to wait for HL before going long to 1.412
  3. EURUSD, Waiting for retest of 1.117 support in a form of HL, before moving higher to 1.1268
  4. USDJPY possibly false break above 124.6 then more downside back to 124
  5. USDCAD looks bearish because of the weak 2 leg push to TR high of 1.25. With that being said, it found difficulty in closing below 4H 20 EMA, so I think
    find a HL at 1.245 then break higher to 1.255
  6. EURJPY POSS Breakout PB short, broke H1 support 139.6, but no 4H support. It is below at 138.6. Likely lower to 138.6 during euro session.
  7. GBPJPY, lower prices expected, should find support at 190.6
  8. AUDJPY more upside or sideways today as another drop today would look too sharp on the daily chart
  9. AUDUSD likely to move higher to 0.7825 (open price of daily BO bar). Maybe will find support at 0.775 first
  10. EURAUD at end of 3 pushes on H1, but doesn’t look like it wants to bounce higher, probably more downside to 1.449. Have to wait for PA
  11. GBPAUD likely more downside to 1.983
  12. GBPCAD, 2 legs to top of TR, likely reverse back inside 1.915 1st target, then 1.909
  13. EURNZD, likely more downside to 1.5615 after making a LH at 1.575

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