USDCAD Forecast (Another push lower and possible Cypher?) 5th Feb, 2014

USDCAD Forecast (Another push lower and possible Cypher?) 5th Feb, 2014

Daily Chart

Hourly Chart

Outlook Trade opportunity

I am still bias for a new high to 1.14, this is because this pair moves very harmonically balanced. Anyways, we'll be talking about shorting when it gets there.

For the mean time, i see this potential Cypher pattern coming up (note Leg C is a bit short to complete a 1.272 x-a ext, but will still take it)

The PRZ / buy zone is at good levels for support and also at a major fib ext level from a weekly/ monthly chart. which we never retest as support.

Could watch price action if we go into buy zone before entering trade

Risk Level LOW

Tips -

Always take note of any economical news event on our provided calender below

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Nikkei - Support found?

If so - our yen crosses should go in favor in longs

EURCAD Outlook possible Longs perhaps? - 5th Feb, 2014

EURCAD Outlook possible Longs perhaps? - 5th Feb, 2014

Daily Chart

Hourly Chart

Outlook Trade opportunity

At the time of posting i have entered long already, will move stops to b.e when 2:1 reward

Risk Level Low

Tips -

Always take note of any economical news event on our provided calender below

GBPUSD Forecast and Trade Setup at Support and Pivots - 5th Feb, 2014

GBPUSD Forecast and Trade Setup at Support and Pivots - 5th Feb, 2014

Daily Chart

Hourly Chart

We have important BOE Rate decision on Thursday, So its not a trade for the faint hearted. So if its good news, then its good for our long trade. Never the less, i have jump the gun as technically its at a major support area although we are performing lower lows on a daily. At least we could get some sort of retrace if it were to break this support.

Trade safe guys!

Outlook Trade opportunity

See Hourly chart

Risk Level LOW

Tips -

Always take note of any economical news event on our provided calender below

AUDUSD Forecast and Trade Setup Cypher Pattern - 5th Feb 2014 5/02/2014

AUDUSD Forecast and Trade Setup Cypher Pattern - 5th Feb 2014 5/02/2014

Daily Chart

Hourly Chart

The Aussie spiked up due to the RBA giving a neutral tone and also suggesting interest rate to be in the 2-3% range (2.5% currently) which the RBA don't normally tell what the future is. And finally did not try to downtalk the aussie, which suggest that they are comfortable in the high 80's.
Having said that, my setup is still valid as a cypher (for pattern traders) or Fib traders. So technically its still a good short area.

Will we find new lows? - i am 50/50 so please take partial profit when we hit the B point of the cypher pattern

Outlook Trade opportunity

Please see H4 chart

Risk Level LOW

Tips -

Always take note of any economical news event on our provided calender below