RE: CHARTS -T LINE TIPS27 Jan 2016 13:08
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FX Daily
Trade Entry Summary
•
Enter
: At market (1.4057)
•
Stop
: 1.4117
•
Limit
: None
Trends don’t have to end for you to make money trading against them!
A very common patterns within a long-term trend is what’s called a ‘harmonic retracement’ or
A,B,C,D pattern. Whilst we’d expect USDCAD’s long-term uptrend to remain intact, recent price
action on the hourly candle chart suggests that USDCAD is currently going through a harmonic
retracement.
This research is for informational purposes only and should not be construed as personal advice.
1
Faraday
Research
Sell
USD/CAD
27th January 2016
Penny Share Pro
UK Wealth Builder
Prime Income
Real Time Trader
Real Time Trader
Penny Share Pro
UK Wealth Builder
Prime Income
Real Time Trader
Faraday
Research
Sell
FTSE 100
Underlying Fundamentals:
2011 has seen the FTSE 100 bounce around the psychologically important 6000 level. While this might frustrate
investors it provides traders with a great opportunity.
The market appears to be stuck in a tug-of-war. On one side, record low interest rates and quantitative easing have
provided a sea of liquidity which has kept the market buoyant. On the other side, negative economic data combined
with austerity measures and inflation has dampened any bullish sentiment and see’s the market firmly locked within a
tight trading range.
As the bulls and bears slug it out we can stand back from the battleground and profit from the price pattern.
Technical Viewpoint
A market dip in March due to the Japanese earthquake saw the FTSE break below its trading range, but importantly it
found support at the 200 day moving average (orange line).
The FT