Tmrw is Bank of Canada, The only central bank to actually start it's exit from their QE program. EUR is looking to extend theirs as always , from a pure fundamental stand point, this thing should be going to 1.44 pretty soon
USDJPY H4 Looking very similar to DXY and EURJPY, DXY we break yearly highs of 92.500 and EJ we have just broken a key corrective resistance zone. Hopefully by the time these pairs approach support, we will have some more indication on GBPJPY to compare against.
NZDCAD H4 Range holding nicely for the moment, two tests of resistance and two tests of support. Nicely quantifiable for both the long and short potential too. Hopefully something we can carry into next week.
AUDUSD H4 - Here is Aussie vs the dollar, again very similar structure to the above, 0.733 was the resistance zone in this occassion whereas 1.33 was cable resistance, regardless we are close to seeing a break and close on the H4. From this, we could look for entries around 0.7335 to jump in long after a correction, just cautious of the rally leg going in to break...
Would like to see a Double Bottom form before entering Long, Double Bottoms are a great sign of reversals especially at a major level of support (Channel Support)
Since the AUSSIE/US DOLLAR are correlated with the AUSSIE/CANADIAN I find it to be appropriate to share both pairs with a similar idea. The Aussie certainly showed very high momentum in price action with a generous push to the upside breaking very respectable swing lows. Last time price used this level as Support we did find price pushing up without hesitation....
Please watch the video carefully to understand my Counts. There are points where certain scenarios become invalid.
This week i've been paying close attention to absolute correlated and negative correlated pairs. In my previous analysis on GBPNZD we were looking for a Long Opportunity so it's only logical to look for the same in this pair. Here I see a Triangle formed so what I understand from this data is price is respecting its support and pushing lower highs leading price to...
This is a follow up to GAMS' first post. The Fed's 25bps cut, coupled with hawkish verbiage, added more weight to the already dwindling American corporate earnings and further confirmed GAMS's bearish view towards the rest of 2019. Strong USD will create strong headwind to heavy-weight components in SP500 like MSFT, AAPL, etc who rely heavily on foreign...
Good fundamentals trade following the confirmation from Macron that a no-deal Brexit will be the most likely outcome indicating hawkishness for GBP against the Greenback.
GBP/CAD downtrend on the daily chart could be ending as price tries to break above the cloud. However, if BoC remains hawkish this week after an expected hike, it could cause that attempt to fail and result in a close below the Ichimoku cloud again. Keep an eye out for a good risk/reward trade if that should happen.
Here is a typical example of a range, my approach to them is that , price has a 50% chance of breaking to the upside or the downside. But if it does break , It tends to double the range before it finds support or resistance. In this case , doubling will either lead to anothe support , or another resistance zone. Lets wait and see
NZDUSD a week ago we so two opportunities for a long position and are still ongoing, price broke trend line and we expect for the price to drop near the trend line and then go up. NZDUSD la semanan pasada vimos dos oportunidades para una compra y todavia siguen, el precio rompio la linea de tendencia ahora esperamos que el precio baje cerca de la linea de...
Scientifically proven idear, inspired by my great idol Stephen H. ! Live long and prosper Stephen, i love you !
This is a double trade with my USDJPY short
We have a lot of EUR news due out tomorrow together with a speech from Mario Draghi, the President of the European Central Bank. His comments alone will move the market and we are hoping for an alignment with the PMI data due out later on in the morning. This will give us a great trading opportunity on the EUR throughout the rest of the week. We are planning a...
Couple scenarios to consider here depending on the tone and remarks made by Yellen regarding monetary policy. Currently USD has been moving up but the move will only continue if Fed chair Yellen reinforces her comments made 2 weeks ago when they decided to raise rates again and stated they were still on track and serious about another rate hike in 2017 either in...