smartfx trader forex signals

AUD/USD: upside potential limited despite solid advance in equities, commodities

The AUD/USD pair traded within a wide range this past week but closed it barely up at around 0.7330. The Aussie plunged to 0.7237 as PM Turnbull suffered a leadership contest, which ended with him stepping down and Scott Morrison becoming the new PM.
USD/JPY H1 Short
The pair managed to keep in a downward channel, opening the markets with a gauge in a downward direction that was not filled in the first few minutes. This shows the strength of the bears and confirms the negative sentiment after the failure of the negotiations at the G7 meeting. Technically, we also have triangle formation in a downward trend – negative for the price, the likely decline. Activation of the larger Head And Shoulders formation at the end of the previous upward trend – also negative for the price. 20 and 50 periodic meanings are located in the sword. DeMarker is near an over-sales area, suggesting that the downward movement is still in place.
I expect the negative sentiment to be maintained reflecting the concerns about Donald Trump’s meeting with Kim Chen Un, as well as the deepening of the trade war.
SL: 109.53
Alternative Scenario: If the price moves back above the resistance zone is held there, the negative scenario will be spoiled and more likely to observe a pair’s raise

 

BUY AUDNZD Daily 06.06.18 BUY AUDNZD Hourly 06.06.18

 

AUD/NZD’s uptrend look to be kicking back in to gear.

The aussie has got off to a ripper this month as risk sentiment pervades the markets and commodities move upwards as well. It is the strongest major currency so far this month and today on the back of the best reading in GDP in seven quarters.

Technically, the pair made a long-term low below 1.05 in April. Since then, prices have moved higher and last month broke a major trendline from the October highs. We retested that trendline last week and prices have compressed over the last few days with two consecutive narrow range days and an ‘inside day’ yesterday.

The hourly chart shows a break of short-term resistance as bullish momentum looks to be returning. Place your stop below the recent swing low at 1.0825 and a limit order at this year’s highs at 1.1072.

 

 

GBP/USD Good point for long after the main trend correction
GBP/USD D1
Our expectations – The price made a deep correction of the main upward trend and tested the basic diagonal. After reaching 50% Fibonacci correction, the price reverses strongly upwards, clearly indicating that traders are willing to buy from this zone. There is a swallow bar formation that is activated today and breaks the psychological level of 1.3400. That’s where we have to look for a long-term entrance. In addition, the indicators indicate a likely new upward momentum. DeMarker points up from a surplus sales area and the CCI50 crosses -200 from bottom to top. Sequential counts 4 on the top of possible 13 – we can think that the upward pulse is still in its infancy.
SL: 1.3270
Alternative Scenario: If the price goes back below the bottom of the swallow bar, the positive scenario will be spoiled and more likely to see a decrease.