Analytics Idol. Forecasts of the winners
The winners of the Round 1 of the 'Analytics Idol' contest have sent their first trade recommendations. They have done an impressive job. Read their forecasts. We hope you'll find it helpful in your trade. Fell free to discuss these trade signals!
Participant #1 - Ayoub Ben Rejeb
Good Morning and sorry for the delay
My Trade recommendation
USD/CHF Sell at 0.8930 - SL 0.8955 ( 25 pips ) - TP 0.8865 ( 65 pips ) -> RR : 2.6
Explanation : The pair created a bearish divergence facing a strong resistance zone which comes with the 61.8% Fibonacci retracement of last swing , the down trend-line from july 2013 and the upper line of a channel. So it need to go down to retest previous broken zone which become good support before resuming it's up move
Participant #2 - Shinichi Kedo
See the chart H4 AUD/USD , from 7 mar to present ( 3 Apr) we can see that the highest price is 0.9305 and the lowest price is 0.8926 Review the chart by trendline and candlestick we can see that AUD/USD already move to the area 0.9305 and after that the price of this currency in the side way down. So the price 0.9305 is the resistance of this currency if this currency can move over this price 0.9305. Because the price still under 0.9305 so this currency still in side way down. So we should sell for this time my order sell at price 0.9236 , take profit at 0.9137 , stop loss at 0.9306. However if the price move over 0.9310 i will place an order buy at 0.9311 stop loss at 0.9206 take profit at 0.9510.
If this currency move over this price 0.9305 then this currency is in the side up.
Participant #3 - Tawilwil D'Great
Hi good day to all traders, this is my chosen pair USDCAD for the Round 2 of Analytics Idol March 04, 2014 intraday forecasts.
This is my explanation for technical and fundamental analysis.
On the technical side I used indicators like Ichimoku, MA, Stochastic and MACD to read charts. This pair on daily chart has already broken the trend lines (uptrend) and consolidated in the past 3 days. The price is already below, Moving Averages 12-20 (rainbow color) that I used. The price of this pair is in line of the Ichimoku clouds the red one, so there's a big possibility that this pair will plunge. Stochastic and MACD on daily chart is declining, also Stochastic on weekly and monthly chart is already overbought. As you can see, there were already a three(3) bearish candle formed on monthly chart that created a lower low and the second bearish candle with a long pin bar and that would be a good sign for shorting the market.
On the fundamental side, there's a big news coming for USD and CAD, these as follows:
CAD Employment Change (forecast 21.5K) (previous -7.0K) CAD Unemployment Rate (forecast 7.0%) (previous 7.0%) CAD Ivey PMI (forecast 58.3) (previous 57.2)
USD Non-Farm Employment Change (forecast 199K) (previous 175K) USD Unemployment Rate (forecast 6.6%) (previous 6.7%)
I used bigger stoploss which is 73 pips because this is a long trade and also of the news that will be released. We will expect that market will be volatile.
USDCAD sell: 1.1013 stoploss: 1.1086 (above on the last five candles on daily chart) take profit: 1.0893, 1.0775
Participant #4 -Wahyu Hidayat
04/04/14. Pair EUR/USD Entry point: 1.3705 take profit: 1.3720 stop loss 1.3680. On the previous day the EUR / USD traded within 109 pip range 1.3807-1.3698. Today Asian markets traded range of 1.3707 euros. EURUSD is testing the support from 1.37 to 1.3675, which may be below the bearish momentum. The next important support comes at 1.3600. The first resistance is at 1.3785 Break above it should extend the price of the bullish movement further towards 1.3894. Nearest support level is at 1.3676 should extend the decline Go down Euro further down towards next objective 1.3567. Today the U.S. will release some economic data such as the U.S. Unemployment Rate.
Participant #5 - Won Tuno
Hello, here's my analysis for tomorrow. USDJPY is more promising setup to me right now. I'm actually waiting if my target hit today, but seems it is saved for tomorrow
Chart H4 Some heavy S-R levels, current price facing hard rock resistances. Market overbought, divergence, and weaker/flatter movement. So it is really good to SELL!
Chart H1 More details on lower TF. ABCD pattern confirmed that the target, which is 104.15, not been hit yet. So this is our entry. SL actually as your MM risk, I put it -40 pips @ 104.55 with TP1 103.05, TP2 102.65, and so on as Fib levels. So it is good RR > 1 : 2.5
Higher risk is to put no SL. Since market’s very overbought, once it is pass the resistance around (-) 20-25 pips above entry, we can target to BreakEven.
Note: NFP Friday, so maybe will get spike at the top. This will not counted as breaking the Rs.