Technical FOREX analyses by IVT US DOLLAR & Major pairs

[Lud Trader]

6th of December - USDOLLAR
The USDOLLAR is currently in the upper part of the regression channel and below the resistance level at 11,980. This level corresponds to the retracement level at 38.2%.

The only trading plan is to short the USDOLLAR. It is advisable to take some profit on the short position on the GBPUSD. As a reminder, we are still looking for a selling opportunity on the USD/JPY while the EURUSD is on a support level, so no short possible for the immediate future.

 

[Lud Trader]

6th of December - EURUSD

No Change for the EURUSD. There is a lack of volatility on this pair. The bearish combo given yesterday in the 1- hour time frame on the chat has reached TP1, but our position was closed to BE. Prices are currently around the support level at 1.18. The only selling opportunity will be to wait a break below the support level at 1.18, and then to wait for a pull back to give us an easy entry point.

I will be looking for a buying opportunity if prices were to break above the Andrews’s Pitchfork.

 

[Lud Trader]

6th of December - GBPUSD

Prices fail to break below the support level at 1.34 and prices are facing a buying setup (combo) in the 4-hour time frame. There is a risk for our short trades in progress. TP1 was reached but it is advisable to lighten up this position again.

If prices were to close below the support level at 1.34, then we will be looking for extra short opportunities.

 

[Lud Trader]

6th of December - USDJPY

Prices may have made a new high on the level at 113. However, it was difficult to send a trading signal for a short opportunity as the Fibonacci cluster, with the 61.8% Fibonacci retracement level and the 100% Fibonacci expansion level, was a little but higher (113.4). The regression channel was uncertain and the resistance zone was very large.

Today’s trading plan is to trade with the berish trend thanks to combo in the 15-min time frame. If prices were to break below this retracement channel, then I will be looking for a short opportunity if a pullback occurred in the 1-hour or 4-hour time frame. But first, we need to make sure that this move is impulsive.

 

[Lud Trader]

6th of December - AUDUSD

Our position was automatically closed Break Even. No regret as TP1 and TP2 was reached. This trade was really profitable.

As a reminder, we were trading a retracement close to a low point on the channel. Prices fell to break above the resistance level at 0.762. Prices are now contained in a downward regression channel. It is not advisable to go long on the AUDUSD while prices are inside this bearish channel and below the resistance level at 0.762. If prices were to break above those resistances levels, it will make the most sense to go long after a pull back. The next selling opportunity will be given at the end of the potential following retracement phase, ideally with an entry point close to the neckline level.

 

[Lud Trader]

6th of December - USDCAD

THE USD CAD bounced off the lower line of the Andrews’s Pitchfork drawn on the graphic. Prices seems to have initiated a correction phase that might bring the price up to 1.2734. Experienced traders could attempt to take some long positions in lower time frame, with no leverage and potential combo in the 30-min time frame.

The main trading plan remains to look for selling opportunity at the end of the retracement phase, once prices reached the median line of the Andrews’ channel.

 

[Lud Trader]

7th of December - USDOLLAR

Prices broke below its medium-term resistance level and the upper line of the channel on the 4-hour time frame. The bullish potential remains however limited as the resistance zones extends between 11,980 and 12,010. For the moment, it not safe to trade against this trend and we need to wait for a clear price action. To sum up I am bearish on the EURUSD and GBPUSD, cautious on the USDCAD and USDJPY.

 

[Lud Trader]

7th of December - EURUSD

Prices broke below its medium-term resistance level and the upper line of the channel on the 4-hour time frame. The bullish potential remains however limited as the resistance zones extends between 11,980 and 12,010. For the moment, it not safe to trade against this trend and we need to wait for a clear price action. To sum up I am bearish on the EURUSD and GBPUSD, cautious on the USDCAD and USDJPY.

 

[Lud Trader]

7th of December - GBPUSD

The bearish move is not an impulsive one. While prices are below 1.3460, I am looking for selling opportunities.
It must be emphasised that the SMA(50) in the 4-hour time frame is reversing, so it could soon gives us a nice short combo setup. Prices have to now initiate an impulsive move to confirm that the previous swing high is still valid.

 

[Lud Trader]

7th of December - USDJPY

The Technical analyses is a bit complicated on this asset. The strong Fibonacci cluster is below at 113.43, it is on this threshold that I am looking for a selling opportunity. In this case, the upper Bollinger Band will be actin as a resistance level.

Prices are currently below the SMA(50) and the 50%retracement level. They act as a resistance zone, but no bearish impulse is initiated. A bullish combo has been activated and TP1 has been reached. In other words, no more selling opportunities on the USDJPY while prices are above the SMA(50) in the 4-hour time frame. If prices were to break below it, then we will be looking for selling opportunities with a pull back as an entry reason in the following trading sessions.

 

[Lud Trader]

7th of December - AUDUSD

Prices made one more push lower to test the low of the Andrews’ channel. Sellers’ pressure remains present and the current support might not hold the price enough to initiate a bullish trend move.
If prices were to retrace, then it would make the most sense to wait for the first bullish move in the 4-hour timeframe, and then enter the market at the end of a retracement phase. There is no trading opportunities for the immediate future.

 

[Lud Trader]

7th of December - USDCAD

A breakout to the downside of the range have initiated a strong bullish move. This new situation might give a nice opportunity to short the USDCAD in the upper part of the range. We need to wait for a bearish price action before to enter the market. No selling opportunities for the moment, I will keep your informed.

 

[Lud Trader]

11 th of December - EURO DOLLAR

Last Friday the NFP data came out greater than expected (228K people employed). Congress voted Thursday to pass a bill that would extend government funding by two weeks. In this way, a partial US government shutdown was avoided on Friday pending signature by the president.

Prices are approaching our main resistance cluster where prices should reverse. If prices were to reach 1.18, I will be looking for selling opportunities because prices will be in the upper part of the bearish regression channel. I am interested by the potential combo setup in the 4-hour time frame. In this case, we could have a timing where the combo matches well with the technical analyses in the same time frame.

 

[Lud Trader]

USDOLLAR - 12th of December

In the 4-hour time frame, prices are below a resistance level. This detailed graphic is a bit dense, but if you look carefully you will see that the Fibonacci expansion and retracement levels show a strong resistance cluster. If prices were to break below 12,000-12,010, our Andrews’s setup will be activated for a short trade. I will not send any notifications, as we use the USDOLLAR as a compass to trade the other major pairs such the AUDUSD (looking for a long trade), the USDCAD (short trade in progress) and the USDJPY (looking for a short trade). If some of you trade the USDOLLAR, you use the Fibonacci levels (written in red) for your Target profit.

 

[Lud Trader]

EURUSD - 12th of December

Prices retraced up to 38.2% of the previous bearish move as foreseen. It seems that this correction phase is not finished yet. The wave 1 of this correction phase is made up of 5 sub-waves so we are expected a new bullish impulse in 5 sub-waves. If prices were to go up to 1.18 or 1.1834, it will be the perfect timing to short the EURUSD (red rectangle). In this case, we will wait for a bearish price action in H1 to short the EURO

 

[Lud Trader]

GBPJPY : A SWING SHORT OPPORTUNITY TO COME

In the monthly time frame, the EUR/USD seems to have completed a wave 2 (green). This statement means that prices are expected to build a bearish impulsive move (wave 3 green).

In the weekly timeframe, prices seem to have built the sub-wave 1 and 2 of the expected wave 3, so the GBPJPY could be building the sub-wave 3 (orange) of a wave 3 (green). However, prices have only retraced up to 50% of the previous bearish move, so the market might go higher up to 168.33 (red rectangle).

In the daily time frame, it is difficult to know if the sub-wave 3 (blue has been completed). Prices are currently testing the upper line of a downward channel. If prices break above the trendline and the resistance level (grey line), it will make the most sense to look for buying opportunities.

To sum up, on the long-term, we are looking for an entry point to sell the GBPJPY, but in the medium-term, it makes the most sense to look for buying opportunities. However, if an opportunity to short the market comes up, a notification will be sent to all our VIP members.