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Clive Lambert - FuturesTechs
Clive Lambert of FuturesTechs explains why he is buying USDJPY. He is looking to buy at current levels around 112.55 and add on a move above 112.75. He works a stop below 112.20 and is looking for 113.50 initially, then 113.90 and 114.60, the latter being the recent high from November 6th. Finally, he has a bigger picture target at 115.60.
Day trade
/
Sell
Trade view / 12 September 2017 at 10:13 GMT

Trading the range in oil

Director / PIA First
United Kingdom
Instrument: OILUSOCT17
Price target: 46.00
Market price: 47.85
Background

As oil continues trading within a large choppy range, price action seems to be drifting lower after the Hurricane Irma risk subsided. Although we expect this move lower to extend, the downside should be limited. With multiple timeframes trading within or around respective Ichimoku clouds, the choppy trade should continue.

The daily chart highlights mixed signals with bearish engulfing followed by bullish piercing (hammer-like) candles:
d
Source: Saxo Bank

The four-hour chart highlights rally stalling at 50% fibonacci retracement level and possible AB=CD correction lower:
4

Source: Saxo Bank

The hourly chart indicates yesterday's correction higher has stalled and a further test of support is likely after posting a bearish evening Doji star:
h Source: Saxo Bank

Parameters

Entry: sell OILUSOCT17 at current levels ($47.85).

Stop: break above $48.50.

Target: $46.65 and $46.00/b.

Time horizon: day trade

— Edited by Clemens Bomsdorf

Non-independent investment research disclaimer applies. Read more
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