fxmonarchy

fxmonarchy

Breaking above 0.382 fib and closing weekly could get more opportunity for bulls. CHF is weakining and next week even commodity currencies stand a chance to take over and continue the trend on sentiment optimism. GBP is definitely the strongest candidate for this kind of run. Idea is to wait minor retracements and gradually enter on each broken resistance test....

fxmonarchy

AUDNZD potential short trade. Idea is to wait for further drop towards 1.02 and back up to test 1.024-1.025 resistance level. Candlesticks will tell the next move (look for dojis, wick candle patterns and similar..) Idea is purely technical based.

fxmonarchy

AUD flows keep getting hurt on sentiment. Risk-off flows keep dominating the market as early Monday we can see USD and JPY lead the basket of majors, AUD and commodity currencies are down. Trend is about to continue during the day. AUDUSD sell is another good opportunity. Keep your risks minimum and follow the money flows

fxmonarchy

EUR/NZD saw a huge spike last week reaching back inside the upward channel. The latest risk-off sentiment hurt NZD and other risk-on currencies driving them lower against its rivals. So far that is the main fundamental driver so far since NZD recovered a lot after RBNZ's last surprise cut and economic recovery setting them on a more neutral stance for a while....

fxmonarchy

Very interesting pair to watch, with huge macro potential to keep in mind! CHF has been one of the best performers this year and still keep strong. Mostly reasons are its safe-haven status which is in 'on' mode now due 'Coronavirus' crisis and SNB's new tag as currency manipulator which puts them on a close watch lately, so further CHF gains are opened even more....

fxmonarchy

GU is technically cooking next move after a bit longer period of consolidation after 2 upward legs which created this new bullish trend from weekly support. Dollar paired some losses since October while GBP used that opportunity with combination from positive tones for Brexit. This week we will also get BOE rate decision which will definitely increase volatility...

fxmonarchy

H&S potential pattern to signal pullback towards 0.618 fib after trendline breakout. This is just short term setup, overall higher trend might to counter, but possibility of reaching lower levels (even 120) before retracement is on deck as well. Setup is based on pure price action+technical confluence factors signaling HPS(high probability setup).

fxmonarchy

Pure technical setup coming off smaller timeframes (1h-15m-5m). Technical co-relations points on structure change. Price action shifts to bearish mode since week started. Going into final 2 days of the week with lots of happenings and Frankfurt open I find this setup attractive for good r/r. 2 more hours for 4h candle to close convincingly bearish and prepare...

fxmonarchy

Both currencies don't have much to offer fundamentally, still NZD has third highest interest rate of majors, but that will come to question in August likely due poor housing and manufacturing data. Aussie is in even worse state, also cut it's rate after poor economic releases, hit by trade wars heavily. Next week we will start with some housing data for Aussie,...

fxmonarchy

Momentum switch is on deck. Risk on switch - benefits mostly NZD as week is about to end. Oversold NZD basket makes first improvement, one of boosters was trade surplus which widened in April, thus rate cut looks to be already priced in. EUR still in worries about inflation target and poor economic performance of Eurozone overall. Both economies are being hit by...

fxmonarchy

Charts from both weekly and daily timeframes look quite bearish. Up trendline cease is finally confirmed after failed attempt to make new highs. In this case 58 and 55 are main two targets, entry goes from 200sma breakdown on daily + 0.236 fib breakdown. TVC:USOIL

fxmonarchy

When charts co-relate with global market sentiment we usually see high yielding assets, such commodities as gold to start to appreciate. But one factor has to overcome or at least meet investors expectations, such as objective price, so we normally won't see much demand around such high prices. Therefore new economic cycle can't begin if the last one hasn't...