Thread: Shorts and long forecasts (majors)

Hello!


I decided to do something useful for other traders, especially for newbies.
I'm going to share my technical analysis and forecast on different currency pairs. I don't tell you that my analysis and trading ideas are absolutely right, I just focus on my decisions and write about signals I see on the market.
Hope it will be useful for traders.


If you want to discuss something, feel free to comment here or write a private message to me!


Best regards,
Alex

Aggressive purchases were observed on USD CAD yesterday. The Canadiandollar weakened against USD by more than 150 points. The Bank ofCanada left the key interest rate at the previous level of 1.00%. Theregulator said that they won’t rush to raise the interest rates. Idon’t exclude a technical correction in the nearest future. USD/CADis consolidating in the 1.2780-1.2810 range now. I will open thepositions from these marks.

I’ll buy the pair, if it fixes above 1.2810. It may move to1.2850.
There may be a correction, if the price fixes below 1.2780. Thetarget level is 1.2750-1.2715.
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Bulls dominated GBP/USD yesterday. The pound was supported by the positive data on the GDP of Great Britain. There is a corrective movement now. It seems to me that the GBP/USD pair has the potential for a stronger correction. I plan to wait for the retest of the 1.3225 mark. I’ll sell the pair after the price reaches this mark. It may move to 1.3185-1.3160.
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My yesterday's assumptions for GBP/USD were confirmed. There are aggressive sales now. Today’s key event is the publication of the report on US GDP - 12:30 (GMT). I’ll sell the pair, if it fixes below the 1.3075 local support. It may move to 1.3025.
At the same time, I don’t exclude a technical correction. I’ll buy GBP/USD, if it fixes above 1.3115. It can move to 1.3150-1.3160.
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I expect emerging of a bearish sentiment on the USD/JPY currency pair. The price held the 114.30 local resistance. It triggered aggressive sales. Local extremes changed on the M5 timeframe. I’ll sell USD/JPY after it fixes below 114.05. It can move to 113.75. This deal will be short-term and speculative.
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The US dollar has strengthened comparing to majors during the last week. The dollar index grew by more than 1.2%. The support was provided by the positive economic reports, the growth of the government bonds yield and the prospects for the US tax reform implementation. Nevertheless, I don’t exclude a technical correction in the near future.


USD/CHF currency pair is consolidating in the 0.9965-0.9990 range at the moment. I’ll sell the pair, if the price fixes below 0.9965. It may move to 0.9935-0.9915.
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The bearish sentiment prevails on USD/JPY now. The price is testing the 113.55 local support level. I expect a further drop of the quotes. I’ll sell the pair with a trailing stop, if the price fixes below the 113.55 level. It may move to 113.35-113.00.
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My expectations for USD/JPY confirmed. The asset has the potential for the further decline. I’ll wait for the correction to 113.35-113.55. I’ll open short positions (using a trailing stop) if the pair reaches this zone. It may move to 113.00-112.65.
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AUD/USD retained the 0.7690-0.7700 local offer zone during the Asian trading session. It triggered the bearish sentiment, so I expect the further fall of its quotes. Aussie is pressured my the weak statistics from China. I’ll sell AUD/USD, if it fixes belos 0.7660. Take profit will be at 0.7630.
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