EURGBP update

Morning Dynamic Traders

I wanted to check in on the EURGBP price action today, which I've been keeping an eye on the past couple of weeks for a possible continuation to the upside.

The Daily chart confirms that we did indeed see a BOB of the TL but as you can see price has very quickly been stopped in its tracks with the R level above. Yesterday price tagged the R and gave us an indecision candle. But the RSI has crossed above 50 - could this mean price may pick up strength?
















Drilling down into the 4 hour has thrown some interesting light on the situation. Price has tested this R level three times now, giving us a possible TT. We can see price is hovering around the VI and MACD is diverging. So what next?
















Should the TT play out we may well see price head down - but we need that confirmation with a BOB of the low. The Daily chart still suggests we're in an uptrend so price could fight this defying R and continue up to resume it's trend. But with the 4 hr showing us possible signs of another pullback/reversal let's wait and see what happens. As always please carry out your own analysis.

Here's to great trading!
Sonia Molina

EURGBP and USDCAD update

Good Morning Dynamic Traders

The EURGBP mentioned throughout this week, has in fact found support at the strong cluster area and today price is testing the TL resistance. Could this be the end of the pullback and the start of price resuming it's current uptrend? Price still has some way to go before breaching the previous high so anything could happen between now and then, especially as we have a couple of R levels to contend with. However, the odds for a continuation up are still in our favour. My preference is to await a BOB of the next R level before entering.

















USDCAD is forcing price into a squeeze and at this point the smart thing to do is stand aside and wait for price to decide its course. We do have the possible 123786 pattern and coupling this with the trend direction odds are in our favour for a continuation south. But let's watch and wait patiently before taking any action.

















Have a wonderful weekend. Despite the grey weather outside, have fun! An attitude of gratitude will always shower your life with lots of colour.

Here's to great trading!
Sonia Molina

EURGBP bullish day

Good Evening Dynamic Traders

The EURGBP has bounced up today giving us a bullish engulfing candle at a key support level. An additional confluence to add to the support cluster was the TL support - you may have encountered this when doing your own analysis. All these elements proved too strong for price today resulting in a significant move for the bulls.

Depending on your trading appetite, an appropriate strategy can be chosen from your dynamic toolbox for entry - there are multiple confluences in favour of a trend continuation helping us to strengthen our trading odds. However, note the TL and resistance level price will have to face should it wish to continue up to resume it's trend. So be prepared for some possible resistance.
















Here's to great trading!
Sonia Molina

EURGBP nearing support

Good Evening Dynamic Traders

I hope you all had an enjoyable weekend and are well prepared for a successful week of trading.

The EURAUD as mentioned on the blogs from last week, ended the week with a BOB of the low and appears to be continuing with the down trend. Caution should be taken however, as we're bang on the RN, which has previously acted as a support level. In fact today's candle may end as a doji, suggesting market indecision whilst the buyers and sellers fight it out.

The EURGBP is another pair worth putting on your watchlist. Since around Aug this pair has been rallying nicely. Price then hit a peak in Oct and headed south. This may in fact be the expected breather after it's big move up. Price has been sitting comfortably around a fib breather level for the past couple of weeks and may be the bullish flag we'd like to see for a possible continuation to the upside. Hovering below price we have a support cluster which could be the springboard price needs to return to it's trend. Also note the MACD convergence.

















Carry out your analysis and put the odds in favour. Certainly one to keep an eye on should price bounce up for a trend trading execution.

Great trading!
Sonia Molina

Weekly update

EURGBP mentioned on Wednesday's post has moved a little further south, no real indications of a change in trend or immediate pullback.

EURO
The trendline support has so far held the price on the north side. Not much to report on this one apart from wait and see, further potential entries may be available once price decides what to do.

AUDCAD
This pair did a 1 to 1 and general signs still look bullish although a short term pullback may be witnessed.

EURJPY
The EURJPY pair did not provide us with a break out however, it did breakdown and has moved some 600 pips south. It is now at the value index where it may find support and bounce back or the sellers may be more dominant and push price down further.

Swissy
The Swissy did a pullback as per the blog and moved up a couple of hundred pips. The trend is down so one would expect that may resume, however it has not yet been confirmed. Pause until you get the right signals to re-enter.

As the markets are making up their mind we may see some good set ups coming up in the next days. However, do note that Friday is NFP so the activity may be more unusual rather than the trend.

Good Trading!
Bijal Shah

EURGBP flag?

Good Evening Dynamic Traders,

An interesting day in the markets, there have been some large movements on today's bar on most of the major pairs. There has been a good amount of high impact news which may have quite possibly contributed to the moves.

Below is the EURGBP chart which looks like it may potentially be doing a two legged extension. Price made a move down, did a pullback to a Fib breather level and then continued down. A BOB has been produced today which may continue towards the support and possibly the value index. Fib tools can be employed to work out the distance of the move.














The Euro has reached a trendline support with today's move. Price has been in an uptrend for some time now, will it find support at the trendline or will it bounce back up? The smart money will wait for confirmation to rejoin the trend.














Good Trading!
Bijal Shah

Euro review

Dear Dynamic Traders,

Hope you are having a fantastic weekend.

I have chosen to discuss the EURO today and update on the EURGBP.

The Euro has been strengthening of late after a period of consolidation. Price has tagged a previous resistance level and is in proximity of a RN. MACD is showing divergence on a longer and shorter term basis. In addition price is not far from a significant resistance level. The question is will it continue to rally? There is nothing to say that it won't continue, although a pullback may be witnessed in the interim due to all the confluences mentioned above. If already in the trade, good management with tighter stops is suggested.














The next chart is the EURGBP which I mentioned last Tuesday. Price has continued its journey up in a steady manner producing some nice profits and is now facing a resistance zone. Having just tackled a significant RN the buyers in the market are showing strength and there are no other confluences at this stage that suggest that it will stop its journey. That said, no one knows what will happen next and the smart money would not second guess. Therefore, as always manage your trade and if the price continues there may be an opportunity for those that are not in the trade to enter it once the resistance zone has cleared.














I will be unable to post any blogs for the next two weeks, however, you will still have the insightful blogs from Sonia and from fellow bloggers on the the member sites to help your trading.


Good Trading!
Bijal Shah

EURGBP welcomes BOB

Good evening dynamic traders,

Hope you are having a great week so far. Tonight's chart is the EURGBP. A day full of high impact news has seen the price break through strong resistances with a large bullish bar.

There is a RN not far away but a more significant one a little further away so there may be some mileage in the current trend before a potential pullback. ESLT would be a good tool to use from your arsenal for your entry.













Good Trading!
Bijal Shah

Monday update

Dear Dynamic Traders,

Hope you all had a wonderful weekend. Here in the UK we are enjoying an extended weekend as it is a holiday today. Apologies for not posting an update yesterday, we had 3 weddings to go to this weekend which has kept us really busy and I have hardly been at home.

Below are 3 charts for discussion today, the Loonie, EURGBP and GBPJPY. I wanted to do a post on the musketeers however, there is not much other than consolidation going on on the daily timeframe so not much to report.


USDCAD
The Loonie has been in a downtrend recently, did somewhat of a larger pullback creating a double top (in a downtrend) and then continued down. Price has now come back to do a retest of previous high. It will either find resistance there (at the previous high) or will continue up to the trendline which coincides with a Fib breather level. We want to wait for price to then show signs of continuation down to trade with the trend.














The EURGBP has recently gone through a period of consolidation before price started to go up. It is now approaching a resistance level. A good one to put on the watchlist for entry on signs of break down.














The GBPJPY is one that I have not mentioned on here for a while as its not been the easiest to trade recently for trend traders on a longer timeframe. Price has broken through a support line and has tagged a Fib reversal level around a RN. I am now on the lookout for price to bounce either of a Fib reversal level or a previous support level therefore this chart is now on the watchlist.














Good Trading!
Bijal Shah

Will EURGBP resume trend?

Dear Dynamic Traders,

Good day to you. Hope you are having a good week.

The EURGBP has been in somewhat of a sideways motion finding a good amount of resistance at the value index. Over time price has been forced into a squeeze between the trendline support and the VI resistance and perhaps we may see a "pop" in one direction or the other in the near future. Given the trend has been down the tendency is to sway for a breakdown, however, as we all know anything can happen.














Good Trading!
Bijal Shah

Is the EURGBP going south again?

Dear Dynamic Traders,

Hope you are enjoying your weekend and are getting ready for another exciting trading week. I find keeping this thought in the forefront of the mind to be very helpful - no moment in the market is the same therefore in order to look forward you must try and remove all your assumptions and presumptions of what you think "might" happen. Just let the market guide you, that way you are not emotionally involved and it makes no difference to you which way the market goes as long as you are ready to accept the opportunity. A lot easier said than done, I know, but as with everything in life, if you keep trying you will get there.

I have posted the EURGBP chart below as it presents a potential opportunity. Price is finding resistance around the trendline and the value index. Indicators suggest a potential resumption of trend down. However you will note a mini trendline support (drawn on the chart) which needs to be penetrated for confirmation. The conservative traders may decide to wait for the recent low to be broken before entry.
















Good Trading!
Bijal Shah

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www.dynamictraderblog.com

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AUDJPY for the watchlist

Good Evening Dynamic Traders,

Hope you have had a great week. We are almost at the end of another trading week, in the middle of the year and approaching the longest day of the year (at least in the UK). Hope the first 6 months have been enjoyable and the next 6 will be even more memorable!

I have posted the AUDJPY and the EURGBP today.

The AUDJPY weekly chart shows price has tagged a Fib breather level on its recent uptrend and has imminently retreated. Not surprisingly this activity was close to a RN. Will the price continue up or will it resume the previous downtrend?














The daily chart shows the trend line which price has been regularly using as support and is now approaching a resistance level/squeeze. I have displayed three possible scenarios (up/down/sideways until it pops out of the squeeze). You may say that is fairly non committal, and I would have to agree with you. The reason for this is not because I wish to withhold information but because just like you, I do not know what is going to happen next, and therefore it is pointless guessing. The better position to be in is keep an unbiased eye on it for further clues and then decide. We have accumulated many clues or confluences which currently are mild mannered. Once they are more prominent the smart money will be ready to reap the rewards.














Following on from my previous EURGBP post on Sunday, price broke through and then went up to re-test and provide a potential second chance for those that missed it the first time :). Price is at a breather level and we don't yet know if it has completed its re-test or if there is more left, therefore await the signals of a continuation and then place your orders.














Have an awesome weekend and build in some reflection time at a half year milestone. I will be unable to post any blogs next week but my learned bloggers will no doubt provide excellent benefit from their analysis and experience.

I would like to say a big thank you to you the readers for your kind words and comments, it really is very encouraging and rewarding to know that the posts are contributing towards growth and successful trading.

Good Trading!
Bijal Shah

www.fxcps.co.uk
www.fxcps.eu
www.dynamictraderblog.com

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End of Week Review

Good Evening Dynamic Traders,

Hope you all had a wonderful weekend. I thought I would take the opportunity this evening to review some of my previous posts and see how the pairs have fared.

The AUDUSD posted on 8th June projected a possible retest of previous resistance before the continuation. Price indeed did exactly that, it tagged the resistance turned support and then started its journey up producing a 400 pip opportunity on the way up.

Price is now approaching an area which it found resistance previously. It could form a double top and bounce down from it or it could break through if the bulls are stronger than the bears. For me this will be one for the watch list for re-entry once signs are more clearer of where price wants to go.














The Loonie posted on the 10th June, was a projection of a potential head and shoulders formation at the very early stages (development of the right shoulder). It did in fact continue to form the shoulder and retested the previous low. Having done that however, it went back up to re-test the high (and Fib breather level) and did not quite get there.

There are still signs of weakness in the Loonie however, it is unclear as yet whether the pullback/breather is complete before the possible continuation down. Once confirmation is available a good entry short may be sought.













The EURGBP chart posted on the 3rd June has broken through the value index and previous supports producing some nice profits for those that took the opportunity. As we all know price does not move in one direction constantly. Therefore it should be expected that price may go back and retest the support that it has recently broken through.














Good Trading!
Bijal Shah


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www.fxcps.eu
www.dynamictraderblog.com

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Another breakout on the horizon

Good Day Dynamic Traders,

Following our mentor's excellent guidance, today's post is of the EURGBP. The weekly chart shows price was holding the Fib breather levels since the beginning of the year with no real trend.

The daily chart below shows price has tested the resistance/support level and has managed to break through it. In addition it has broken through the value index and is showing potential signs of gathering momentum. As always no one knows what is going to happen so in order to avoid FBO's do employ appropriate filters.
















Safe Trading!
Bijal Shah

EURGBP for the watchlist

Good Evening Dynamic Traders,

In the AUDJPY post from Sunday I mentioned a potential 123886 set up. Price has not abided by this, depite the confluences presented at the time, but in fact it has continued upwards with the short term trend. Price is now at a Fib breather level on the weekly chart and is presenting an indecision candle on the daily chart. In order to continue trading with the trend we need to allow for a potential breather and be ready for when price either resumes the trend or enter post confirmation of a reversal.

The EURGBP daily chart below shows price has reached a Fib breather level and is now approaching a familiar support level and RN. This is one to put on the watchlist for a continuation if it breaks through the support level.














Good Trading!
Bijal Shah

EUR in the zone

Good evening Dynamic Traders,

Hope you are enjoying a week of beautiful weather and lots of opportunity in the markets. I must say I don't normally trade the news as it is not something that is good for my sanity and more importantly my better half's health :)! I did however benefit inadvertantly as I was already triggered into a position, the market gathered momentum akin to an avalanche and then there was no stopping it - fortunate for those that were in the flow and not so bad for those with stop losses either. Well done to Zaheer for gracefully extracting a sizeable 300 pips!

I have had a phenominal week of growth and breakthrough's this week on many aspects of life and as such would like to say thank you to you the readers of the blogs for your energy and feedback and to Javid and Anne for their humility and contribution that touches so many people's lives. I would also like to commend my fellow bloggers not just on their trading and persistance but their creativity and inspiration.

On to the charts then, there is some decision making for the EURJPY to do. Price is approaching a strong resistance level which is also a major RN. MACD across multiple timeframes is showing divergence. Will price gain continued strength and manage to break through the posed barrier or will the resistance win again? The answer is - no one knows but a good occassion may be presented shortly to get into the game.














The EURGBP is also showing somewhat of a similar decision point. After a period of consolidation, it has journeyed upwards and is now approaching strong resistance. If the uptrend is to be resumed then it will continue through resistance. I will be keeping a keen eye on this one to see if I can get into the game at the appropriate time.

Keep in mind that if there is a large price movement due to news, price can go through a correction phase. Please do your own analysis - that is a fun part!














Good Trading!
Bijal Shah

A Conflict of Interest

Good Evening Dynamic Traders!

The EURGBP cross has been catching my eye for some weeks in anticipation of resuming the extended trend towards parity.

Although the weekly chart identifies a weakness, the daily chart below boasts a bullish flag formation whilst price movement today deliberates a trend support.

With the current retracement patiently poised at a momentous fib breather level and the mighty 'value index' affirming direction, it would be reasonable to barter a rally towards parity.

However, sub chart studies are singing a contrary chorus confirming that the market is always right!
A closer study of this cross may furnish us with clues for ensuing price action.


EURGBP daily chart Advanced

Below is the 4 hour chart for the same

Todays movement has punished the above analysis beckoning price through a sturdy trend support and the horizontal, where it is expected to conclude this evening.

Indeed the value index is rejoicing in the confusion!

Dynamic Traders should be well rehearsed in the use of on-chart tools to determine a likely 'undertaking' for tomorrows movement.

With rigid use of a risk management regime and an open and flexible mind set, the availability of a reward is at your finger tips.


EURGBP 4 hour chart Advanced Get

Now Moment Trading!

Saba Jackson