This would signal that we have reached the bottom in my mind. A rejection from that resistance line in the last day tells us that this is the market hurdle.
Entered Long GBPAUD at 1.83295 (200-Hour Smoothed MA and also 23.6% of 1.72134-1.86828) Fundamental: With BoE minutes/ RBA Speech/ Australia CPI inflation coming out, volatility should ensue. USD weakness has caused both GBP and AUD to be at elevated levels. Feels AUD more so after better than expected China GDP, IP, etc. numbers. Technical: AUDUSD has been in...
Corrective ABC can be completed here, i am taking a short here, at 100% extension with a SL above 1.6304 that is the 61.8% retracement of the 1.6521 - 1.5952 decline. I set my first target (1/2 position) at 1.6090 area, final target is 1.5930 area BOE in 15 mins lets see..
Stay short EurGbp or, if you prefear, long GBP! Since the macro economic data started to improve, the pressure on the exchange rate has became stronger. The beginning of rates normalization will make the UK's currency more expansive versus the Euromoney. At the same time, the chart seems to confirm the bearish view: It is unlikely (given also the macro-analysis)...
Looking for long entry @1.7756's level. Stops below 1.7740's
It remains that the ongoing improvements in unemployment, a lagging economic indicator, coupled with a solid recovery should eventually lead to a rise in wage growth. As a result, the current weak earning growth may not reflect the current health of the job market as it is an even more lagging indicator than unemployment. Furthermore, the 2-3% rise in the national...
On the daily the pair started to consolidate towards the end of the week after coming into contact with the 200EMA. Volatility dropped off drastically towards the end of the week but with important prints coming out of both the UK and US early next week and the BOE minutes Tuesday morning volatility will be returning to the pair, sparking the continuation of the...
EURGBP has been trading within a bullish channel since March this year and on Friday closed significantly outside of it, the pair is also trading above the 20MA, which has provided strong resistance while in the channel. Thursday is obviously the date this week everyone is looking to is both the ECB and BOE rate decisions.
2H Chart: as this pair has been in a slight over-buy lately with no BoE releases supporting it. I believe we will see a greater decline in this pair. Keeping in mind, I have a strong feeling this pair will be a long-term decline. I'll be opening higher-leveraged units on this pair to ride the coaster. I'll also be taking a quick look at some BoE releases if any...
Hi everyone! If you have yet to see the introduction video which ChuanSiang and I made, please go to our "About" page and view it! The video covers on what this website is all about, how we trade, and etc. I'm not sure if any one of you have been whipsawed last week, but Friday was definitely one heck of a trading day. That was a result of the release of...
Friends, A lot of paper printing has been going on since we first released a Target-High @ 1.68923 on February 2014. This was a long call asking the position trader to hold tight, but a prop pattern justified the initial call, and back with the right predictive analysis and forecasting system, I am glad to see it attain its final destination as of today - Here...