pro4Xtrader

EURCAD could have final drop from this point targeting 1.3350

AUDJPY is in a clear uptrend that has still some more upside potential. Then there could be a very nice drop

Here is an alternative scenario for GPBUSD where it could continue rising without correction.

I just analysed GBPUSD and from what it looks, could be a perfect sell entry point, although longer term it looks bullish, interesting to follow..

USOIL is in a strong uptrend that does not seem to be over yet. I’d expect a final swing up to 64 area. If it breaks above further extensions up might follow, if holds, correction should take place.

NZDUSD broke below the channel and it cold be pretty fast till it reaches 0.73 support area.

It doesn't look like there is a clrear direction on USDJPY. While it continues to reange, price has a good chance to hit 120.80 resistance (or higher) once again.

GBPUSD approaching massive resistance area. If it hold a shart drop back to 1.48 could take place.

While GBPCAD broke above downtrend trendline, furhter rise should follow. But perhaps its not the best time to enter long trade since it is still in rage trading mode where move downt to double top first is quite likely.

Looks like CADJPY making higher highs and higher lows. At the same time it failed to break uptrend trendline (from current attempt) and cycles pointing to the next coming swing... potentially up to the previous strong resistance are at 103.75

EURCAD rejected the downtrend trendline and now we could see a decline back to the middle on the channel. Cycle analysis supports the idea that EURCAD is at the local top.

According to cycle analysis AUDCAD should start moving. Considering that it is now at the top the move is most likely will be down to re-test major support.

The downtrend channel was broken that should push price higher, although currently GBPUSD is at the resistance and first I’d expect a drop to 1.48

For AUDUSD looks reasonable to retest 0.77 support area considering the break below the ascending channel. Lets see…

In both cases USD DOWN, thats the point, I did not mention a scenario where USD is UP

While GBPCHF formed a double bottom I’d expect now a correction up to 1.4230

While AUDCAD did hit the upside target it might very well test the strong resistance around 94.00 area

I didn't say anything about DOWN, I said its a matter of time for UP (USD fall = GOLD rise).

I can not imagine someone choosing to lose money. Obviously it is not a choice but luck of good strategy or poor trading psychology. You are one amongst very few who are successful trading. Good job, keep it up

Although USA is constantly fighting for the USD being the world trade currency, major market players (countries) are slowly moving away from the USD. In the long term Dollar will most likely lose the domination and Gold as a symbol of real purchasing power could take over. But as you say..."I don't think I'll be around then" Corporations who control Fed, most likely control most of the gold reserves anyway and could allow USD to fall faster than we expect.

CADJPY holding the support nicely that should be short term uptrend confirmation.

I see gold as a benchmark for the value of the Dollar, therefore while gold could be considered as a constant, USD will move around it and very likely loosing value due to more and more money being created our of thin air.

1:50 leverage is still huge and if you are using more than that its more like playing rather than trading. I think for trading 1:10 is more than enough. Limiting leverage to 1:50 max should keep most beginners from loosing money very fast.

GBPCHF broke out from the range that could push price much higher. Currently we can see a pullback to the previous resistance, and it could be a good spot to buy.

Break below the descending triangle confirms the downtrend. At the very minimum I’d expect a triple bottom.