riffster21

AUD, USD, NZD & GBP - Market Barometer Update

OANDA:EURUSD   Euro / U.S. Dollar
Hi guys, after yesterday's FED USD dump, we have a few currencies to watch. However, most of the currencies are still hanging out around the 50 level (short term top chart, long term bottom chart).

USD - not surprisingly, we are seeing more selling beginning to build. Yesterday's push was massive, but it's not over. Expect more selling today, followed by a correction.

AUD - as we predicted, the AUD made a strong bullish move and after a quick short term consolidation, the AUD is forming a second push. Expect more AUD strength today, into tomorrow.

GBP - the short term shows a very strong bullish move. The long term shows a pretty clean upward channel. If this channel holds, the short term correction will soon give way to another rally. Expect continued strength all day from the GBP with short corrections as it grinds higher.

NZD - very similar to the AUD bullish move, but inverted. This is the beginning of the NZD sell-off. I wouldn't try to fade this pair today. Expect a strong sell-off all day.

Still waiting on the other currencies to break outside the 60-40 box.

This is not investment advice, just my opinion(s). Please trade accordingly.

Trade safe and keep an eye on news.
wow glad to see this. i been sick the past week so i been away but glad to see this post. my dollar forecast was shot out buy the massive buy in that took place before the hike. Although it seems my direction bias was correct. I see way more down in the dollar also. not sure but you mean to say that you see the NZD as a sell right? only downside to the barometer is it doesnt update itself so i have no idea where things have gone since the post. but it looks as though EUR/NZD is a buy. Sorry i missed the news Dude this thing is so reliable i need to remove my subscriptions and subscribe to just this lol. thanks as always

Also TRY looks like it made a massive move. i dont normally trade any TRY pairs but looks to be performing well in terms of movement. Have you ever given any thought on tracking it?

BTW i have been trying to use the new indicator you posted still a bit fuzzy on how to use it? I assumed it was similar to a MACD/RSI is that correct? I would like to contribute by reporting any thing useful but other than what you yourself have pointed out i have found nothing new, other than using it short term to determine the likely long term turn point. Which is how i use MACD/ divergence
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riffster21 steveb4088
@steveb4088, Yes, the NZD was weak, but that weakness is beginning to fade.

We've considered the TRY, but we would have to add more servers to track another currency. So far we haven't had enough interest to justify the expense. As with most things...

To which indicator are you referring?
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steveb4088 riffster21
@riffster21, oh the barometer. I assumed since its proprietary it doesnt update when i press the play button on the image. Yea i was just curious.
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riffster21 steveb4088
@steveb4088, Yes, the shared chart won't update unless you have access to the indicator.
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