Today I can see many signals and there should be some positions opened. There is a little rest on the markets but I am a little worried that in the nearest days we should now direction of global stocks markets. Everything looks clear and bears should take a lead but we shouldn’t be sure.

As it often is bear market is more volatile and there will be many chances to earn some profit on Forex. Even better situation should be on stocks because according to statistics during boom 75% of stocks are appreciating and during falls 90% of stocks are depreciating. The conclusion is that it is better to earn in bearish market, but not anyone can change their attitude to shorts. Happily Forex traders don’t need to be interested much about stock markets but we should be aware what’s going on “around us”.

AUDUSD

Buy signal on Aussie. Pair tested support and strongly refused it creating buy signal in form of Pin Bar. I just have to set buy limit order on 50% retracement of signal candle and wait for realization. Position is not perfect because RR is around 3:1, but it is without doubt correct and strong signal.

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EURJPY

Similar situation over here, also Pin Bar on daily chart. Pair is rebounding for few sessions and despite strength of Japanese currency it managed to defend support where bulls showed up. Here also I set buy limit order on 50% retracement of signal candle. SL is a little more than 100 pips and TP is 400 pips.

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GBPCHF

This pair broke very strong support and should keep decreasing. If there will be any bullish correction which will test earlier support (now a resistance) I will open short position on H4 or D1 chart.

GBPJPY

So far this pair is still undecided. Yesterday I showed support on this pair but I cancelled it because price wasn’t respecting it at all. It means that it stopped working and space between closest support and resistance is wider.

NZDUSD

Another buy signal, this time on Kiwi. Support was tested, on H4 chart there is buy signal and I set buy limit order with quite nice parameters: 35 pips of SL and 150 pips of TP.

USDCHF

Support area on this pair was quite strongly broken. Similar like on GBPCHF I will wait for bullish correction and if there will be any sell signal on H4 or D1 chart I will open shorts.