The Pound has recently ended trading in the junior channel down pattern on the four hourly chart pattern against the New Zealand Dollar.
The move was expected due to the fact that the currency pair had touched the lower trend line of a highly speculative medium term channel pattern. The dominant channel is considered speculative, as its trend lines are mildly...
The highly demanded GBP/JPY currency pair has continued to surge. However, it has not occurred in the previously drawn long term channel.
Instead there have been various non-forecasted fluctuations. Although, such events are in general expected from this exchange rate. Due to that reason the Dukascopy research team has adjusted also the long term patterns.
In...
Today i'm visiting my favorite Forex pair to look at and discuss a very long term Elliott Wave count that it appears to have formed. It appears as if in early 2008, a 5th wave completed as a high. From there the market has been clearly corrective, ultimately going sideways. A Zig-zag completed into mid 2015 and from there we have seen a sharp move to the upside....
Most of the analysis is covered on the chart, i will add though that next week is jam packed with key announcements. And as I have come to learn, how the market reacts relies heavily on sentiment
Price is consolidating within a triangle and is lining up for a possible bounce. We’re seeing major support above 1.3300 to 1.3311 (50% Fibonacci retracement, 76.4% Fibonacci retracement, horizontal overlap support) and a strong bounce could occur at this level to push price up to at least 1.3457 resistance (Fibonacci retracement, Fibonacci extension, horizontal...
The GBP/CAD pair was last reviewed at the start of December, when it rebounded against the lower trend line of a long term support line. It has to be noted that this trend line is a rather unusual one, but has proven itself throughout the second half of 2017.
That resulted in a rebound and an eventual breaking of the at the time active channel down pattern,...
GBPUSD Sterling/Dollar Long Term Trend Change
GBP effectively double bottomed nearly a year ago now. Since then it's been travelling in channel whose
penultimate rally recoiled very precisely from the long term dynamic which has clipped all previous rallies back as
they rose to touch this powerful last line of bear defence. Below that line they have...
USD Bullish Rationale :
1. Optimism tax reform bill
2. It's been said that the market have fully priced in December interest rate hike but this "certainty" seems to ease investors in betting Dollar strength at the moment
3. Personally, I see no reason as of now to be bearish the dollar
GBP Bearish Rationale :
1. Continued uncertainty and MESS over the...
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 greenback yet can’t go for a far swim, remaining near 93.00 mark for the second consecutive day. Senate Republicans approved the tax reform plan on Saturday, increasing likelihood of passing the bill, but aligning it with the Lower Chamber may not be easy, since the main discussion will unfold in determining the final burden on the budget, through which the...
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...
First of all, I have no idea how the outcome of this lunch will be reported. Bloomberg TV on, Ransquawk on, Forexlive.com on, fxstreet on.. etc etc. I do what I can. But my plan is clear, any reports on a deal have been strucked with EU over the divorce bill.. I will be buying Sterling. Vice versa if there is no agreement or negative outcome on the deal. I have a...
Looking for set up on this pair, after a quick rally just for speculation and some newbies from Europe's Bank who put too much money on it misleading calculation, this strong pair is now into Chinese shoes and that's the reason why is not going down as rejection, 'cause already broke the zone. However market's pressure is bearish.
Have a Good Weekend!
Cream...
