USDJPY recovered all its losses post NFP and made a new high at 104.318. We would have been bearish biased in USJPY if it had broken the upward channel and entered into a deeper correction, however for the moment it seems as if USDJPY is starting another leg up towards the high. If it does not fall back to the 103.1 lower levels we believe Target 1 is very likely to be hit in the next trading session.

USDJPY 1H Chart, September 6

USDJPY fsf

Entry Long = 103.5

Stop Loss = 103.1

T1 = 104.3/ T2 = 105

After a strong rally just where we called the bottom, gold has been stalling in its higher levels with declining momentum. Such hesitation has usually proved a bearish sign for gold but we are not just yet predicting a trend reversal, merely a pullback from the highs. Invalidation level for this setup is in the 1332 level where gold has hit triple tops.

XAUUSD 5min Chart, September 5

gold fsf

Entry Short = 1330.5

Stop Loss = 1332

T1 = 1327/ T2 = 1325.5

USDCAD sold off the past few days due to raising oil prices and falling USD. Given the fact that crude is in a bullish trend in the medium term, we expect USDCAD to fail in the resistance box above and continue its course down to possibly new lows. Even though there exists the risk of stimulus coming from Bank of Canada, probabilities are very small given their monetary policy plans. We were unsuccessful of entering the short at the blue box as we missed for only 15 pips, thus we will enter in a Fibonacci level in a pullback with the stop at the high.

USDCAD 1H Chart, September 5

USDCAD fsf

Entry Short = 1.3028

Stop Loss = 1.3157

T1 = 1.279/ T2 = 1.27

One of the most powerful strategies we use when trading has been the spotting of divergence in momentum. This is exactly the case of EURUSD, where we can notice a clear divergence in price and momentum. According to this strategy we expect EURUSD to hit higher levels in the weeks to come.

EURUSD 1H Chart, September 2

EURUSD fsf

Entry Long = Current Prices (1.114)

Stop Loss = 1.108

T1 = 1.1245/ T2 = 1.135

S&P 500 has been trading in a volatile market for the past few days amid FED’s comments on Jackson Hole Symposium, however it has not been able to break resistance established around $2180 levels in order to gain momentum for hitting a new all times high. Multiple such failure in addition with slowing momentum are giving us shorting opportunities with favorable Risk Reward.

US500 4H Chart, September 2

US500 fsf

Entry Short = 2180

Stop Loss = 2190.1

T1 = 2162/ T2 = 2155/ T3 = 2145

Check July Performance and all Active Positions here.


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