Buy Euro – Australian Dollar As you can see on the screenshot above we are moving in a double uptrend. The red line is the uptrend in the bigger picture, the other line in the smaller picture. I looks like we are going to create a wedge with the orange line as upside. So the first next upside target will be this orange line. We now found support on the earlier resistance zone. That is why now will be a good time to buy. Stop loss is placed out of the uptrend area, so that means if we get a reversal stop loss will be at a safe place. TP: 1.721 SL: 1.589
Buy US Dollar – Turkish Lira I’ve created these analysis a long time ago. Sometimes when you open the charts again you can see it is still legal. So now I saw we hit our newer support line (the former uptrend tube). We retested this support again. So now can be a good time to buy this pair. It is possible we first complete the wedge before breaking up again. So think about that when entering this trade. If we break down we may use the former trendtube again as support and resistance. First target: TP: 6.2 SL: 5.3
Buy Wheat Since wheat broke out of the last downtrend line we saw a touch of the resistance zone which you can recognize by the blue area on the left side in the image. We touched that resistance zone. After that we had to make a retest of the downtrend we broke out. So now we have made the restest it is time to go up again. The first target is the resistance zone again, since the zone is a realy important one. If we continu and break the resistance a new high up to the green arrow is possible. Rememer: Support becomes resistance and resistance becomes support. 1st TP: 5.5 2nd TP: 6.05 SL: 4.3
Sell Euro – Great British Pound The curved trendlin seems to be followed for a longer period now. We are also moving in a downtrend tube. We have hit the upside of this tube for the fourth time and we can see a downward movement everytime we hit the upside of the tube. I think we are going to follow the curved trendline and hit the bottom of the trendtube first. That is why my target is set all the way down. TP: 0.84 SL: 0.917
Sell Soybean Soybean broke the smaller downtrend (green line). But now we run up to the bigger downtrend which seems to hold strong after these three tests in the last time. Because we hit the downtrendline (resistance) three times allready and doesn’t break I think we are ready to go down. The first target will be around the smaller downtrend line. Because support becomes resistance and vice versa. TP: 8.295 SL: 9.281
Buy Coffee This is a long waited BIG breakout for Coffee. As we can see this downtrend has been going on since 2014. This wedge is building for a long time. This also means we can expect a retest of this downtrend. I think the retest will be on the green downtrend line. If we continu the uptrend and break out there is big room for creating a reverse uptrend.
Buy US Dollar – Japanese Yen USDJPY has reached the downside of the bigger uptrende we move in. As we can see we possibly heading for a retest of the smaller purple uptrend and after that continu the bigger uptrend by breaking the red dotted line. First targer will be the red dotted line. Never sell in a uptrend! Also first see if the green support holds the downward movement. TP: 113.325 SL: 106.830