Блог Daytrader21

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Prepering The Week Ahead


Hold on tight as the next week will not fall short expectation when it comes to fx volatility. Greece bailout talks or rather Grexit and Fed rate decision are the main risk event of the week. On the top of that we have SNB rate decision as well but market expectation is for no major change in monetary policy. SNB rhetoric when it comes to the stronger CHF will ultimately dictate CHF direction, however they seems less likely to turn more aggressive any time soon.
In short expect lot of intraday …
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NZD/CHF Can't Escape from Current Range

NZD/CHF is still stuck in a trading range and as recent price action suggest we can't see an escape from current consolidation not unless we brake lower. However the momentum suggest that we should see a break above current trading range. In Figure 1 is the weekly chart of NZD/CHF which shows 2 clear trading range boxes and based on my own experience usually price is going to retest the resistance of first range box before going lower. Also in the last few weeks we can see how each low of the w…
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Daytrader21 21 Апр.

Update 1:So far as my prediction said the 0.7500 level has been keeping the market from falling even further. The move towards our 0.7500 level was in a 3 wave move which is corrective and we should see this level hold. We don't have much resistance to the upside not until 0.7700 level so we should see momentum start accelerating. 

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Daytrader21 7 Май

Update 2: So far it seems that the upside momentum is fading away and we need the 0.7500 round number support level to hold for our trade to be still valid. If this is wave 2 than 0.7500 level should hold and we should se momentum to start picking up and develop wave 3.

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Daytrader21 17 Май

Update 3: The momentum has already start picking up as per my last update and although we fade away after we made a new swing high above 0.7730 and we even hit our target at 0.7750 which was actually the high. But this is a good thing as we need for now to establish another base with support at around 0.7600 before another attempt to break higher.

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Daytrader21 24 Май

Update 4:AS expected we're now consolidating around 0.7600 level making the base for another attempt to push higher. The momentum is still in our favor so we should see in coming days another attempt to hit our target at 0.7750

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CAD/CHF Final Stage of the Downtrend

The Bearish trend has been slowing down in CAD/CHF in the past several weeks as the downside momentum has failed to pick up and we're stuck in to some decent consolidation. In Figure 1 we can have a look at the daily chart and how this down trend have moved inside a downward channel We can also see how each previous swing low after was broken to the downside has turned into a resistance(see red line Figure 1).
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Daytrader21 9 Март

Update 1:Last week we saw another failed attempt to break below last week low. this should be seen as a bullish sign and this should hold as support, next week look for momentum to start picking up, Next major resistance is at 0.8050 and than the major 0.8200 round number

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Daytrader21 14 Март

Update 2: Unfortunately we have made a new marginal low after we break previous swing low at 0.7880 which suggest more consolidation. Major resistance is at 0.8000 big round number if we can get a weekly close about thatlevel we can expect our target to be hit

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