22nd June 2015 Intraday Market Analysis

Posted On 22 Jun 2015

EURUSD

Price broke the intraday uptrend line and we are looking for a short opportunity at the 1.1350 region. Aggressive stops can be placed just above the 1.1370 region, while a more conservative stops have to go above the 1.1385 region. Targets can go around the 1.1300 even level.

GBPUSD

We have a potential Gartley pattern setting up. Potential entry can be placed around the 1.5810 level with stops below 1.5800 level, and having 1.5835 as the first target and 1.5855 as the second target.

USDJPY

We have a completed Gartley pattern here on USDJPY. As long as price respect the 123.20 level, traders can look to short at current market price with stops above the 123.20 level targeting the 122.85 region.

USDCAD

Lastly, we have a potential Bat pattern setting up on the USDCAD. Potential long entry can be placed around the 1.2225 region with stops below the 1.2215 level, and targeting the 1.2285 region.

I would love to hear your opinion, feel free to comment, agree or disagree.

About the Author

A self-taught trader, Kar Yong was interviewed in Channel News Asia’s Money Mind Young Investor and featured as Social Guru on eToro social trading platform in 2013. He founded FX Pipsology in 2014, a platform dedicated to people with similar interest in forex trading. At present, Kar Yong is also a teacher and mentor to many. [space height="20"] [social type="facebook"]https://www.facebook.com/fxpipsology[/social] [social type="youtube"]https://www.youtube.com/channel/UCjsEg0JoKjwQF7X7dN8MHkQ[/social]