USDCAD (updated) - latest news on forex trading in india

USDCAD (updated) ~ latest news on forex trading in india

The weekly trend for USDCAD is downward and the daily chart is operating within the downtrend until price clearly breaks outside the trendline.


The recommended option is BUY using the daily RSI. SELL is huge risk until price clearly moves to the upper zone. The buy zone is indicated on the daily RSI with yellow color.


The recommendation is to wait until the RSI falls back into the yellow zone and buy the next bull candle. H4 will confirm reversal and M15 will entry.



The weekly and daily charts are attached.
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AUDUSD (updated) Recommendation - trading the news in forex strategy

AUDUSD (updated) Recommendation ~ trading the news in forex strategy

AUDUSD is still on an upward trend. The Weekly trendline is in yellow colour and the daily trendline is in blue colour. The currency is current trading within it historical high. The descent has begun on the weekly chart. There is real possibility of further fall. The trading range between August 2010 to date is 1.00241 and 0.95092. In between there is a minor support at 0.98037.



The current fall on the daily is approaching the oversold territory. The recommended option for trading this currency is SELL using the daily RSI. BUY is very huge risk For clarity, I have indicated the sell zone in yellow colour on the RSI.



This is the time to WAIT. Wait until price gets back to the yellow zone to short.


Happy Trading!



See the weekly and daily charts above
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GBPUSD 220 Pips concrete zone - instaforex news trading

GBPUSD 220 Pips concrete zone ~ instaforex news trading

The Cable is currently forming the left shoulder of H&S on the weekly chart. A set-up which I identified when price was around 1.53500. As long as 1.61000 is not broken this set-up is still valid.



The daily is currently consolidating between 1.58821 and 1.60247, while the concrete zone is 1.60550 and 1.58300 (about 220 pips). Until a daily candle opens and closes outside the box, this zone is still valid.


How do you trade the current set-up? My view is the cable is primed for a fall. In this case follow H4 chart and short anywhere close to the top of the concrete zone, using M15 chart for entry.



Note that it is the big players that determine where they want to take the price. However, the concrete zone trading strategy will expose their intention. The first signal is that daily candle rise or fall within the concrete zone and lose outside it. The next signal is that a daily candle will open and close outside the zone. Then you will know the direction of the big boys.


I attach herewith the daily, h4 and m15 charts in support of the above analyses.



Enjoy your trading!
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