The USD Index is currently testing the key double top neckline and 38.2 fib. We expected
the price to test reject this zone from a technical point of view and if the daily chart
closes below this level we could see a continued sell-off. However, the FOMC is set to
announce rates and all eyes will be on the Fed's next steps. If they are dovish and mention
In this video, we take a look at NZDCAD as price rejects the key demand zone.
NZDUSD is currently at support and despite the recent USD strength is holding at the level.
USDCAD is trading back above 1.3400 highlighting the weakness in the Canadian dollar.
Looking to this chart we could see a swing trading opportunity from the current levels
to the key resistance.
Technically EURAUD was at a resistance level and price rejected forming an inside pin candle. We looked
for a mean reversion trade here back into the daily highs before seeing an impulse higher. Unfortunately,
the Aussie has continued to weaken into today's session also stopping us out of our position.
With the CoT reports highlighted a 106% rise in short...
In this video, we highlight the potential reversal to come to the Swiss Franc and what
we need to see in order to execute our bias. The Swiss Franc has been the strongest
currency of late however a large majority of the CHF pairs are at key demand zones.
The CoT Report shows long contracts decreasing and short contracts increasing.
This could lead to a reversal.
Yesterday we spoke about the USD remaining bearish and despite our overall view remaining the same,
the retail sales data has driven the USD Index back above the key 97.30 resistance. We may see another
rally back into the $98.00 highs where price could form a triple top pattern before breaking lower.
The retail sales for the month of may recorded an increase from...
Gold has recently tested the $1350.00 resistance and is currently rejected.
The recent CoT reports highlighted an increase in short contracts if price
closed below this key resistance we could see a short-term fall in price.
Looking at the DXY price is approaching the key lows around 97.30. If price tests this
area we could see some weakness re-enter the market. Recently the USD has shrugged
off recent poor data showing some buyers are still willing to prop the USD up.
However, we don't expect this to last as long as price can reject the key lows.
In this video update, we take a look at EURAUD as the price approaches a key resistance level.
Previously in the past, the market has sold off aggressively here as sellers re-emerge above the
1.6330 level. If price prints a daily bearish close we can look for short opportunities here.
EURCHF has recently rejected the range lows and looks to continue within the range.
If price heads back towards the range highs we can look for long opportunities
on the lower timeframes. We will be looking for long opportunities on the 4hr timeframe
in line with the weekly timeframe. A lower USD price could help push the EURO
Bitcoin continues to consolidate however we still feel the market is a bearish and
a breakout lower is highly likely. If the price closes below the 7500.00 the next stop should be
the key demand zone of 6000.00.
In this video update, we take a look at AUDCHF as the price is back at a key demand zone.
The 4hr timeframe is highlighting a potential double bottom pattern forming. If the price
forms a higher high, the pattern will be complete and we could expect the market to
GBPUSD remains at the key demand zone, The 4hr timeframe is forming an inverse head
and shoulders pattern with the neckline sitting at 1.2748. If price breaks above and closes
above this level we could expect the price to continue higher.
EURUSD is currently consolidating on the 4hr timeframe. With our USD short bias,
we expect this market to continue to rise. We will be looking for a breakout of the trendline
resistance before looking for long opportunities on this pair.
In this video update, we take a look at USDCAD as the price has broken through longer-term trendline support.
Recently we saw USD weakness come into play and the Canadian Dollar benefitted massively. We expect this
decline to continue and a re-test of 1.3300 will be ideal in order to look for further shorting opportunities.
In this video update, we take a look at NZDUSD as we expect the price to test the 0.6700 resistance.
The CoT reports highlighted an increase in long contracts this week showing us the commercials are happy
to buy at these levels. The 4hr timeframe has highlighted a minor demand zone around 0.6600 where the
price could find buyers.
We will be watching the key 0.6560 level for another long opportunity on NZDUSD.
The non-farm payroll figures could push prices into the demand zone. We still
expect to see prices back up at the key 0.6700 resistance.