We can look for shorts (in the case of AUDUSD might be better for wait to enter on a retracement) in these instruments. It's evident we have failed to break resistance in AUDUSD and that USDCLP is forming a nice turn at the lows in the daily, which nicely correlates to Copper forming a double top here, with plenty of downside to be seen. Clearly, bears are...
This is an update to my previous charts on AUDUSD (see the one where I shared a long entry for this pair in particular). The newer charts have been sharing analysis on it, and other Asian and Oceanic currencies, which I see as having amazing signs of strength, suggesting we have long term trend reversals, or at least major retracements in play. There is a new...
GBPAUD is tracing a nice steady downtrend, and recently has formed a nice consolidation, which has given way to a time at mode downtrend setup. We can go short here, odds are very nice and we have a lofty target to benefit from if the trade works. Entry is at market and stop losses should be 1-3 ATR, or placed above 1.85541. If interested in my trading signals,...
The AUD/CHF pair has broken its uptrend and will sell off on a dovish tone from the RBA in their Interest Rate decision later tonight. The Franc continues to be the ultimate safe haven currency in the world.
In this chart I break down the price action in these 3 pairs. USDCNH is in a strong 2 day chart downtrend, and about to breach a key level on chart. Once below we can see it trade significantly lower, or even go back to the start of the recent massive PBOC devaluation rally start. AUDUSD, I have covered and even given a long entry for this trend, currently not...
The EURAUD chart is a very interesting one. I'm in a small long position, looking for more reasons to add to it soon. Price has found support in the quarterly chart, where we see two 10 quarter levels, with the recent low landing right on this level before forming a nice base, after a very sharp outside bar. From the recent swing low, price has formed a base,...
Let's see if GBPAUD has what it takes to fight all the bearish signals on chart, and break above the previous downtrend mode resistance. The weekly chart offers a time at mode uptrend expiration signal, which suggests price can retest the mode at 1.94578 in 14 weeks or less. In the daily, off the recent swing low, an uptrend signal formed, but it has already...
I'll enter long positions in this pair if we break resistance and reach the price I signal on chart: 0.71645 Once triggered, it'd be probable to rally to one of the 3 targets on chart, and potentially more. For the time being, the cap resides at 0.72148, so after reaching that level it might be wise to monitor price action closely. The odds are pretty good for...
In the current enviroment, it's nice to add a 'long Canada/short Asia' trade, and this is what this setup is. Currently the trend is up in the weekly but there seems to be a chance for a sharp decline in the daily chart. Risk to reward makes for a great trade if it works, so it's worth it to risk at least 1/2 position on it. Props to @Synapse here for mentioning...
The weekly chart shows a very interesting inverted head & shoulders pattern following a significant AUD decline against the NZD after breaking, but failing to hold below the December 2005 lows. With the renewed dovish tone of the RBNZ after disappointing dairy prices, and even more disappointing consumer price figures, this looks to be a good opportunity for...
Everything is said in the other trading idea. Set back and relax now
Fundamentally we have the Reserve Bank of Australia with a neutral stance and the Reserve Bank of New Zealand with a neutral stance after the latest rate cut. In fact the NZ CPI Figures are scheduled for this week before we head into the showdown of the RBNZ in the last week of January. I am expecting a drop in NZ CPI Figures of round about -0.5%, while the newest...
The Aussie had a rough start to the year, declining more than 4.8% against the US Dollar. This was the largest weekly decline in % terms since September 2011, when the pair declined over 6%. We are currently descending towards a triangle bottom marked by the 2015 lows - a break lower would initially target the 68 handle, marked by the 1.236 ext at .6794. Expect...
GBPAUD is approaching the yearly MA, and also about to complete a downtrend signal in the daily chart. It's possible that shorts will be unwound soon, by year end, we might see a large short squeeze rally in this pair, and maybe even the opening of new institutional longs for the new quarter. I'm really interested in entering with the tightest stop possible, so...
Talking Points: AUDUSD Technical Strategy: Temporary Bullish ] Elliottwave Count: We are expecting another leg up in coming week before downtrend resume. AUDUSD's price action looks corrective and expected to trade higher in coming week toward 7400 area, but on hourly chart, we are expecting correction and expected to drop to 7200 area before wave (b)...
Talking Points: NZDUSD Technical Strategy: Temporary Bullish Elliottwave Count: Wave C is still due We were tracking to see correction complete on or above .7200 area before downtrend. But this might not be a straight line. This can be played with two scenario. Scenario 1: where we might see upside on wave (c) and can be target on area zone of 7060,...
Although we are not keen to open a new trade position yet, we thought it might be useful to provide some analysis for the Aussie, just because we enjoy doing it. So here goes! Current momentum for Aussie is definitely bearish, although recent unemployment data has been much better then expected. However the low commodity prices is putting a cap on the AUD,...
See the related ideas for my analysis of this pair, which demonstrate the power and surgical precision of the Time at Mode methodology I learned from Tim West here. In this juncture, the weekly chart is offering a potential retracement entry, in case we were to see such an event, which would guarantee a 9.54:1 trade op. In case price were to continue straight...