Following my post from yesterday, the market has now come back a little little deeper than where i said it would but it's still a valid long trade in terms of the structure trade i posted yesterday and if you're a pattern trader instead, the market has given you another alternative by forming another gartley pattern which has just completed. I'm still gonna be...
The fundamentals on this currency pair are strong with the USD being the strongest currency at the moment and the JPY being one of the weakest. It is looking likely that the BoJ will add further stimulus to the economy at the end of this month and with the FED still looking to raise rates in the US albeit a little later than first anticipated we are destined to...
The NZD has been rallying lately and part of the reason for this has been the increase in the Dairy Auction prices that have had 5 consecutive good readings. Today the GDT showed that the price increase could just be temporary and the NZD is still a much weaker currency compared to the USD. I would have liked to have taken this on the break of the support at...
AS YOU CAN SEE FROM THE 4H CHART WE HAVEA TRIANGLE PATTERN FORMATION. This should breakout the same distance and the entrance depth of the triangle which is 342pips bringing it back to the previous high. The fundamental direction of this currency pair is still bullish with the FED looking to raise rates and recent data from the BoJ leaning more towards pressure...