Video

Kim Cramer Larsson
Areas covered in this webinar by Saxo Bank technical analyst Kim Cramer Larsson include EURUSD, USDJPY, GBPUSD, EURGBP, gold, silver, S&P 500, the Nasdaq, the Dax, the FTSE and the Dow Jones.
Day trade
/
Sell
Trade view / 16 February 2017 at 8:48 GMT

The bias flips to negative for the USD, but will it last?

Analyst / PIA First
United Kingdom
Instrument: EURUSD
Price target: 100.25
Market price: 101.00
Technical 

USD Index

Monthly multi-year  chart – Long-term bears after posting the Bearish Outside Month in January at the Fibonacci confluence area of 102.00
USD Index M
Source: Saxo Bank 

Daily chart – Got to take some care here. The daily chart highlights a rejection at the channel top with a Doji style candle posted. We are long -term bears but it no 100% clear if the corrective formation is now complete (normally three waves)
USD Index D
Source: Saxo Bank 

Intraday (six-hours) chart – The AB leg is now assessed as complete. This means that the immediate bias is bearish. Prime support is seen at the channel base of 100.25 (blue), this could be seen as a right shoulder of a bullish reverse Head and Shoulders pattern. A move higher from there (100.25) and a perfect AB=CD would see the index move to 102.83. 
I love this move as this would then form a bearish Gartley pattern and send the index aggressively lower. 
USD index 6
Source: Saxo Bank 

Conclusion: Selling USD’s down to 100.25. We then need to assess Price Action to see if we will spring higher to form the overall bearish Gartley Pattern. 

Management and risk description

Parameters

Entry: Selling USD's at market 101.00 (actually selling USD's through USDCHF and EURUSD)

Stop: 101.30

Target: 100.25

Time horizon: today only 

— Edited by Clemens Bomsdorf

Non-independent investment research disclaimer applies. Read more
A compiled overview of Trade Views provided on TradingFloor.com is found here
2y
touqeer touqeer
Ian bro i cant trade USD ... so what about eurusd ... sell at which level
2y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
I am looking at buying EURUSD long -term at 1.0465... there is short term resistance at 1.0690-1.0700 ..... the sell trade is higher risk
2y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
this is what I 'think' will happen in EURUSD
2y
usxau usxau
G'day Ian! Well what a trading environment! Unreal. Will be interesting to see what usdchf does @ 1.0000 lvl, lets see what US data will do today! ;)
2y
ValeriyKZ ValeriyKZ
HI!what you think about usd/jpy and aud/nzd?
2y
touqeer touqeer
can i avail a buy till resistance 1.0690...your suggestions bro
2y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
AUDNZD I don't cover, sorry. USDJPY I don't see any real support until 112.10
2y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
it should be a choppy ride so I would buy dips close to 1.0590 today .... its going to be a very bouncing ride
2y
touqeer touqeer
Ian bro you are really very helpfull.... thanks a lot for your ideas
2y
usxau usxau
Audnzd has policy divergence meaning RBA did not talk down the currency whereas RBNZ wants the kiwi much lower, hence I'd see audnzd moving higher - however I am not a day trader, so it will need a bit of time!
2y
usxau usxau
Ian, gbpcad, was tossed around as an idea a while back, did you get a buy signal>
2y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
Yes I am in it at current level .... love EUR and GBP longs against CAD and AUD ... think AUDUSD might form a top here .... USDCAD reverse Head and Shoulders in a bullish Expanding wedge... crosses could be good until the USD finishes this play
2y
usxau usxau
Great - unfortunately my entry did not get triggered by some 2 pips! :(
Aussie is best performing against USD last 6 weeks! Has been on a hell of a run. Like on the crosses better kiwi as RBNZ has raised concern over the fx rate! :)
2y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
EURUSD .... 4 hour engulfing form the base.. I wonder now if she will give us a nice reverse Head and Shoulders?
2y
usxau usxau
Order to short eurusd @ 1.0660 :)
2y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
I am only in crosses at the mo..... and an AUDUSD short .... the market was kind to me overnight .....
2y
usxau usxau
Not surprised you are a hell of a nice guy! :)
2y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
LOL... why I thank you ! I am sure there are a few who would disagree with you !
2y
usxau usxau
Oh well Ian, there are always jealous people around! :)
2y
Andrew Perkins Andrew Perkins
Very Jealous LOL
2y
AG11406 AG11406
view on GBPUSD?
2y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
Really mixed ... inn a corrective cycle ... just don't know if it is complete as yet
2y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
I am off now.... good luck today
2y
touqeer touqeer
good luck
2y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
like you level in EURUSD Sabrina.... 13 count one ... USD index nearly there ... this is the dangerous leg !! I prefer AUD and CAD for USD longs..... night all
2y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
I am short AUDUSD and long USDCAD ... lets see if she 'flips'
2y
Andrew Perkins Andrew Perkins
Night mate
2y
trendy trendy
I was looking at the major pairs; how did you choose the EURUSD and the USDCHF, because these couples made the biggest moves? It comes from the charts?
2y
Anton Bushin Anton Bushin
Hi, Ian! What do you think about eurgbp?
2y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
I think its in a medium term Head and Shoulders and an intraday Ending Wedge... selling rallies .... watch for divergence on the next rally
2y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
'if' she can make it up there we have bespoke resistance at 65 and will probably post a DeMark 13 too

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