Sell zone holds and shows sellers coming in. With Brexit and renewed trade tensions with China, HUAWEI scandal, expected risk off mood to strengthen the dollar. Unless Brexit miracle happens...
Worse AU Data alongside broader risk-off sentiment has turned AudUsd 180° and we are now in a decline. We effectively faked out 0.7300/technical resistance and are headed towards 0.7040s.
After price formed a double bottom at key level support, a strong bullish impulse took place breaking all barriers of the downtrend structure. Price closed this Friday with a bullish engulfing candlestick breaking above resistance along with the major descending trendline. Will be anticipating a slight pullback to retest broken resistance (61.8 fib) as new support...
Over the weekend, the major news has been centered around Brexit and the situation in the Ukraine / Russia. With May's Divorce deal likely to be rejected by the house in the weeks to come. (This is my primary trade to end 2018) The market is focused on all things brexit. With Russia detaining Ukrainian vessels and injuring Ukrainian servicemen in the Process. The...
EURJPY Timeframe: 1D Direction: Short Confluences for Trade: - Stochastic Overbought momentum (1D, H4, H1) - Reversed against the Fibo Retracement 50% line - Fundamentally, Italy's budget story has yet to be solved, EU-Italy discussion continues this week; expecting further volatility. In addition to that, higher chance of Democrats taking over the House...
EURJPY Timeframe: H4 Direction: Short Confluences for Trade: - Price Action at Resistance of Parallel Channel - Price Action bouncing off 50 EMA line - Stochastics close Overbought momentum - Fundamentally, jittery concerns about EU's disapproval of Italy's budget plan; JPY likely to gain with such issues and adding on Jamal Khashoggi's death creating...
Fundamentally JPY looks extremely strong as usually it counts as a safe haven when the risk-off scenario prevails in the market. Indices falling sharply and my personal view is that there is still room to go down taking into account all of the latest fundamenal developments. Technically, JPY has formed a rising wedge and looks like it is ready to break it in the...
The Eurusd has been hovering around a tight range between 1.1460 and 1.1550. All the prices are entrapped within a bigger range at 1.16 Is this the consolidation before the downmove or otherwise? The market will show us where it wants to go eventually. Attached is Revelation Trading's roadmap for trading the Eurusd. Who says trading has to be complicated?
The yen pairs appear to be moving higher despite an increase in risk to trade in the global markets. Sentiment appears to be holding up, perhaps to do with the good economic data we are receiving at the moment, however, in recent trading days we have had a lot of trade war noise. The US seems to be serious about the next $200bn of tariffs against China and that...
Our Second Idea on Tradingview => Here we are smelling risk off in the coming sessions. =>From a technical perspective we are eyeballing a move back towards the 61.8% from the bottom of the channel we have been trading since April. =>Expecting investors to raise the bid on risk off assets as we have the triple CB combo this week with BOJ, FED and BOE in play....
AUDJPY has reached our 1st Target at 83.00 on continued risk-aversion this morning. Short-term agendas will be protecting profits, but there is no sign of exhaustion yet.
It appears that gold is near the end of a simple looking ABC correction, which is likely to end at around $1313. Or could extend to the previous low near $1300 and begin the rally from there. My long term target for gold is much higher, due to both technical and fundamental reasons, than the target for this particular trade. (So I may have a bullish bias) Buy:...
The Senate majority leader Mitch McConnell is making contingency plans for the growing possibility of a government shutdown ( www.fxstreet.com ). The RSI momentum indicator is starting to show a bearish divergence, after the "S&P 500" had reached my previous long target at 2800 points. Due to the uncertainty regarding the outcome of a government shutdown are...
Generally, the market will either be in a risk-on or a risk-off environment. During uncertain times, the market is considered to be in a risk-off mode where investors prefer to park their money on lower risk investments. During recovery or bullish times, the market is considered to be in a risk-on mode where investors are willing to park their money on higher...
I am still banking on market's risk averse tone towards the U.K due to the Brexit divorce bill & Irish Border issue. I am not sure if the news of multiple attempts on UK PM May's life will weigh down the sterling but the Asian Equities market have been risk averse so far today (it it UK PM May's assasination attempt story or Trump's upcoming announcement of...
The rationale for this trade is pretty straightforward : The headline of no deal was made yesterday and more political uncertainty surrounding the United Kingdom. No monetary policy issues is in focus right now to help the sterling at the moment as well (today). Equities market in Asian session is a bit in a selloff (Risk Off Tone) gives slight safe haven inflow...
You can read my EURUSD plan. Same reason why I am shorting USDJPY.