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Nima Azadi
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Nima Azadi has been engaging in financial markets for over 10 years. His experiences vary from investing and trading in the Tehran Stock Exchange (TSE) and Foreign Exchange Markets to mentoring and consulting on the technical aspects of financial analysis. He is frequently quoted in the Iranian... More
My book:
Duel with the Trend
  • Trading Strategy Of The Week - 10/21/2013 To 10/25/2013 0 comments
    Oct 21, 2013 4:01 AM

    GBP/USD

    Price is located in two ascending channels, thus buying interest is strong. But since we are at the upper area of the bigger channel, it is risky to initiate new long positions. Therefore we will seek buying opportunities at lower prices.

    (click to enlarge)

    Gold

    Price is at the top of the descending channel which increases the risk of being long here, especially since we are near the Monthly Pivot area. It seems that Gold will experience a minor pullback to the sub-$1300 area this week.

    (click to enlarge)

    USD/CAD

    The 1.020 area should provide support for this pair. As long as we are below 1.0350 level, the odds favor this pair to keep going south.

    (click to enlarge)

    USD/CHF

    This pair is currently located at the intersection of the lower band and the bottom of the channel. Taking into account the bullish Crab formation, we favor a bullish scenario. Traders are advised to initiate long positions targeting the 0.9160 area.

    (click to enlarge)

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