FX_IDC:USDJPY looks like it got rejected by the daily 50MA courtesy of Janet Yellen. As long as the bearish momentum continues, its possible that we may retest the daily low once more completing the handle before NFP/FOMC. Entry: 114.241 SL: 114.5 TP: (tp1) 113.5 (tp2) 112.7 (tp3) 111.6 Any feedbacks are appreciated!
FX_IDC:GBPJPY looks like its consolidating for a breakdown but its holding up pretty well this year. No positions as of yet but if this pair is indeed going to breakdown in the near future then the best short entry points is right along the Daily 50MA/Triangle resistance if it reaches that level. Any feedbacks are appreciated!
FX_IDC:USDJPY completed the handle of the Inverse Cup and Handle pattern and its now testing the previous daily low. If FX_IDC:USDJPY breaks down then it should retest the daily support turned resistance as the 200MA Daily, 50/200 MA Weekly, 50/200MA Monthly Moving Averages should provide support for the price to bounce. If it bounces from here then it needs...
Pretty self explanatory, shaded areas are where I think price will turn, based on unfilled orders existing right outside those candles. I'm particularly convinced by Jim Rickards(youtu.be), who argues that gold will go through a severe re-pricing whenever the relentless expansion of central bank balance sheets overwhelms the low-yield, deflation-biased economy...
The USDJPY pair is tracing a strong long term reversal in my opinion, and here we have an opportunity to join the trend with minimal risk. You can go long at market, using the long term stops on chart, close to 101.2, or, take a buy stop order at 104.703 (good for the day), speculating that Kuroda's speech will take care of triggering this daily uptrend, with stop...
We can enter longs in this pair above Friday's high, which sits slightly above the Brexit key level resistance. There's a weekly uptrend that triggered recently, so we can expect a massive rally in this pair soon. Good luck! Ivan Labrie.
This is an update to my previous publication. We now have full confirmation of a weekly uptrend aiming for 110.141 by December 23rd or sooner. If not long you can buy new daily lows, or dips to 102.8 after this week's close. Jumping in now, is not bad, but not optimal. This uptrend probably implies that the smart money is getting into new leveraged positions for...
We have a good opportunity on the long side here, brewing behind the scenes. We are looking for bears to lose steam, and the pair to slow down, to go long on strength. This decrease of the ATR values shows momentum's waning, meaning that the market has been one sided for a while (in this case, the last leg of selling slowing down). We can follow the 'path of least...
August 14, 2016 This is the text from my comments on the charts: January 2015: These levels above 4530-4600 are totally artificial .It was an aberration created by the European Central Bank (Quantitative Easing), which helped the CAC40 hits its long term diagonal resistance before it would collapse. Greece and China were merely excuses. Greek CDS (Credit...
BOE's policy decision and QIR was largely inline with expectations, perhaps even 10bn better than expected on the QE side - and was very forgiving with hints towards further interest easing, though the stubborn unwillingness to realise negative rates undermined this to some extent. GBPJPY and GBPUSD shorts traded into intermediate TP levels - with GBPJPY...
ECB nowotny reiterated senior member official sentiments regarding the situation with Italian banks unsurprisingly saying people "Should not over dramatise situation regarding Italian Banks". He also hawkish said that the Brexit impact forecasted on the EUROZONE economy would be less than the IMF forecasts. Perhaps the most important sentiment though was that...
BUY THE RUMOR, SELL THE FACT Also coming up today and tomorrow are important days form the UK`s perspective as we see BoE Gov speak We expect any news to the contrary to have adverse effects on markets.!!!!!
Today, Bank of England governor Mark Carney said a rate cut is needed after the Brexit vote and hinted that it could come as soon as this summer! This news got the FTSE and the DAX flying up to nearly 300 points. Also, the Feds stated this week that they may cut rates this summer as well, possibly even this month (July) so that is really great news for global...
Now that the Brexit risk has been realised the mentioned pairs above will share some correlation this week as the market changes between risk-on and risk-off as MANY on the events continually drive the sentiment shifts. My Plan & Expectations USDJPY 1. My conviction for UJ is long 8/10. -UJ traded to lows of 98.9 in the midst of the brexit hype, as the...
GBPUSD - At the end of last week GU traded to lows of 1.32 on the brexit vote, before retracing substantially to 1.39 by the end of the day. - GU retraced 600-700pips after the brexit event IMO solely as investors took profit from their shorts (which causes buying) - thus there was no structural reason for GU recovering e.g. it was that 1.32 had mispriced GU...
Jezuz FUDGE!
The U.S. dollar went bid following rhetoric from Federal Reserve officials that a potential rate hike could occur in June, following hotter than expected inflation data. However, after posting on pending technical weakness here, the dollar has retreated slightly over the last few days. Price action as traded neatly within a descending channel on the daily chart,...