Antonio_trader

Antonio_trader

After the summit in Singapore, markets went into a bit of risk-on mood, yet with tensions remaining between US and G7 allies on trade. the day was mostly quiet as usually before the FOMC rate day. This week is shaping to be probably the most important this year so far. With FOMC rate today, ECB tomorrow and BoJ on Friday. After the summit USDJPY picked up again...

Antonio_trader

Amazing week ahead of us. A historic summit between US and North Korea is the main focus of investors. Expected deal to completely denuclearise the Korean peninsula is the main goal of Trump's team. If the deal goes through, risk-on mood should push risk currencies up, especially after disastrous G7 meeting and tensions rising between Trump and allies. EURUSD...

Antonio_trader Updated 

After breaking the big daily trend line on dollar strength, we are now retesting it as well as the the trend line of the recent bearish move. So price action converged on a very important point, forming a potential double top as showed by the RSI divergence. This could indicate that this is a retest before continuation of the bearish move and provide an early...

Antonio_trader Updated 

With recent oil sell off after Iran sanctions threatened the global supply, OPEC took steps to deal with output shortage from Iran. A sell off took the oil price back to the confirmed daily trend line and closed right on it on Friday. This is also a 50% retracement level of the move. A break below would suggest a potential reversal of the trend, though as break...

Antonio_trader

After making another touch on the trend line and testing support, a break would be a good opportunity to go short, first target at 83, 38% retracement. Stop above the recent swing give a good risk-reward. Happy Trading!

Antonio_trader

Technical set up shows a break and retest of the trend line. Now a good support level is in the way, it was a strong resistance before as well. Only ISM PMI data from US released later today, it could affect price. The 50 SMA is in the way, so if you wish for more confirmation, you could enter after price breaks through it, though risk-reward will be worse as a...

Antonio_trader

After a big sell off in cable, due to poor economic data in UK and cancelled rate hike in May, as well as, dollar strength, GBPUSD hit a major support and is currently having a pullback. Next potential sell off continuation is with a break of 1.32 level, which is also the 50% fib retracement, targeting the next support area above 1.30. The pair is very...

Antonio_trader

Continued failure to make new lows suggests the forming of the ascending triangle, early entries could be made withing the range or wait for the break on the upside. Bullish momentum in dollar may change after release of non-farm data this Friday. Happy Trading!

Antonio_trader

Today another weakness in the European market, mostly due to bad news from Italy and their governmental struggle. Technically formed H&S pattern broke the neckline and is currently retesting is, after being rejected on 38% fib retracement of the move. It is also in line with a 200 SMA at the time of writing on a daily timeframe, a close below could further...

Antonio_trader

Risk on mood rallied NZD after recent sell off due to RBNZ dovish minutes release. Reverse H&S pattern could provide early signal of trend reversal. Pattern MPO hitting 38% retracement and the down trend line, just below the 200 SMA. No major CAD or NZD data release this week. As long as the risk on mood stays, technical set up has a high probability, with good...

Antonio_trader Updated 

While the right shoulder turned into a double shoulder, the pattern broke the 38% fib level and the neckline of the pattern. Could add to a position after breaking 50% fib level. Happy Trading!

Antonio_trader

After completing the MPO of the H&S pattern, daily 200 SMA and 50% fib level now provide a strong level of support. A break or the bounce from the level can provide good risk-reward opportunities. No significant economic data from Canada, while inflation data and several speeches from BoE's Mark Carney will affect the sterling this week along with Brexit...

Antonio_trader

Risk on mood brought strength to the aussie with ease of tentions with China after weekend announcement that the 'trade war is on hold'. EUR continues to sell against the majority of currencies. Current set-up offers good risk-reward and is in line with fundamentals. Fib levels seem to be respected so first obstacle in the way is 61.8% retracement. Potential to...

Antonio_trader

Continued dollar strength after good China trade news over the weekend now in line with technical trend line. 3 touches confirmed and a break on the downside could provide a good selling opportunity. Yesterday NZD also had disappointing retail sales data further weakening the currency. Happy Trading!

Antonio_trader Updated 

After a great dollar rally, gold confirmed a trend line yesterday. After slight pullback it is testing the level again. A break can trigger a short position with a good Risk-Reward ratio. So far the dollar strength seems to continue and unless political tension escalate, like Iran/China trade/North Korea and so on, selling pressure on gold should push the...

Antonio_trader Updated 

After today's disappointing data in EU showing that economy is cooling compared to last year, it added further bearish momentum to an already weakened EUR. A major break of the trend line and 200 SMA shows potential for a short with a good Risk-Reward ratio. Stops can be adjusted depending on how aggressive you are as a trader. Entry below the recent lows to...

Antonio_trader

So far the pair made a great double top and double bottom pattern and now price could go back to retest the 38% fib level again. This could be a good entry, though technically the neckline is a bit higher so observe the impulsiveness of the break. On 1 hour chart price is already above the 200 SMA at the time of writing, so not much resistance on the way to the...

Antonio_trader Updated 

After today's release of retail sales in US, DXY soared and is making new highs. Naturally with a stronger dollar US indices started to sell. This could provide a good opportunity to go long with a very good Risk-Reward ration as S&P500 is retesting the broken trendline. US markets will be open for the next few hours so there is time. Happy Trading