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July Blog - Day 6 : EURSEK

I took a trade in EURSEK today.
>> SELL 5.000M EUR/SEK @ 10.28426, SL 10.30384 (196 pips), TP 10.21550(688 pips)
The reason for the trade was that the pair was at a resistance level (10.295 as can be seen in the image above) and it tried to break past the resistance twice but failed. And so I shorted the pair with my target at 10.2155 (actually should have kept it around 10.2250 :P) and stop loss above the 10.3025 level.
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July Blog - Day 5 : EURUSD

Today I realized that I posted my last two posts in the regular blog and its not the one meant for Trader Contest (huh :P). So I updated the tag on those two post so they will finally go where they were supposed to go - to the Trader's Blog.
Now for today I am still looking at the EURUSD. Just now the pair broke above the 11.1690 level so the thing to look out for is whether it can hold above that level or not. If it holds then we might see a move upto 1.1725 and then if that breaks the will fin…
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July Blog - Day 2 : GBPUSD

Let's look at cable for the day. For starters it looks like the support is holding around 1.3110, so if tomorrow I see a retest of that support and if it holds then I might look to buy the pair with my target around 1.3180 provided the pair breaks the resistance line around 1.3140. For this long I will keep my stop below the recent low of 1.3095.
And for the downside scenario, I will look to sell the pair if it tests and fails in the resistance zone of 1.3140 to 1.3150 with my profit target arou…
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July Blog - Day 1: EUR/USD

After a heavy drop in April and May, the EURUSD pair remained almost flat for the month of June. The pair tried to penetrate the 1.1530 level multiple times but failed and for now it seems as though the pair is holding above the 1.1640 support and is eyeing on the 1.1725 price level and once that breaks it might move up to test the 1.1850 price level which is the resistance zone from the where the pair fell sharply after the recent ECB conference where it was reiterated that the APP will remain …
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My EUR/USD Trade

So today I will talk about the trade I took in Euro Dollar (Actually, I took two trades - one today and the other one yesterday but I will talk about the one I took today).
So the trade was -
BUY 5.000M EUR/USD @ 1.19444, SL 1.19299 (15 pips), TP 1.20009 (56 pips)
As you can see in the chart, EUR/USD decline that started from 1.12090 was stopped around 1.1930 level (support zone - monthly pivot, weekly support, many touches that occurred during Nov & Dec 2017). So my plan was to look for the con…
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"All eyes on Cable"

The cable continues to follow the upward channel very nicely which can be seen in the chart below. So my bias for the cable is positive above 1.3300 and I'll be looking to buy the pound strength.
Now the first support comes in at around 1.3513 - 1.3496. Why? Well we've got plenty of reasons for that, let's see - monthly opening range lows (will be sure to explain monthly, weekly & daily ranges sometime soon) ranges shown in light white box, Dec 2017 resistance area shown in green rectangle, wee…
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USD/CHF - Supported by 50 SMA

As you can see in the chart below, the Dollar Franc is struggling to find the direction. Since last two weeks, the 50 SMA is constantly offering support to the pair and putting halt to every downturn.
But as the pair is already moving in an ascending channel, the chances are that it will continue to do so, which means that the pair may finally break through the 1.0037 resistance and can target the 1.0100 area. Maybe the recent formation resembles an ascending triangle, which when broken gives th…
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MyHedge 30 Nov

Nice analysis, when can we expect a new one? :)

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Bearish on AUD/USD

Since my last blog on AUD/USD, the pair turned and went up to the 0.7700 level (I thought 0.7650 will offer resistance but it didn't offer much of anything), reversed and is now back again at the 0.7630 (As I like to call it - Major Confluence Region). My analysis for the pair still suggests a break below this level.
Now when that happens, I will look for the retest and will look for short opportunity with the target of next support level which should come at around 0.7560.
Patience is a key el
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Cable looks positive

It looked like Cable finally abandoned the ascending channel as it closed below the lower boundary line last Thursday but after lots and lots of efforts, it finally managed to close back above (you can see the continuous touches in the chart below).
So for now, it can be assumed that the up move is still in force. Keeping that in mind the next target for the cable comes at around 1.3220 area, a minor resistance, and then the major hurdle comes at around 1.3300. And if that breaks then we can tar…
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Aussie Dollar

AUD/USD is moving in descending channel and is almost at the important support level of 0.7630. The level is important owing to the fact that this is the two months low and also its the 38.2% fib level of the up move that started in May from 0.7330 to 0.8125.
If this level breaks then the next support will come at around 0.7560 and after that around 0.7500. On the other hand, if it bounces then the next immediate resistance is at 0.7650 and the next hurdle will be 0.7726.
But looking at the doll…
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