AgentSmith

AgentSmith Updated 

This is the second major bearish flag pattern on EURUSD we are witnessing this year. This is a textbook short setup with a downside target of 1.1030. Many traders prefer to see a break out of the triangle before taking a position. I prefer to be more aggressive and short here with a stop outside of the triangle to the upside. I am a swing trader on 4hr timeframes...

AgentSmith

In my last update I thought this might be a bottom in ETHBTC. Having a look at the previous bear market and the current price action I think instead we are due for another dive here before resuming the uptrend. Ethereum is looking weak and I suspect we will see support break very soon. Regardless, I still think it is a great project and weakness should be viewed...

AgentSmith

ETHBTC has typically been a good proxy for predicting altcoin runs. The setup is looking promising again. Low volatility shows prices forming a base. And with cycle indicators at lows this may be a good time to start buying Ethereum and solid projects built on top of it. From a fundamental point of view we are still waiting for Ethereum to move from proof-of-work...

AgentSmith

Swissie is effectively at the same level it was 2 years ago before the SNB dropped it's peg. Despite the volatility from that fallout price action has remained quite muted. I'm hoping to see a sustained breakout to the upside on the back of the strong dollar. Parallel channel lines fit nicely, so the potential is there. We'll need to see a weekly close above...

AgentSmith

USDCHF continues to trade sideways for 2016. We've just had the US elections. Will this be a catalyst for a breakout of some quite frankly boring trading? (if you're a trend trader). I still maintain that we should see higher prices to come in the longer term. Whether that will happen now or perhaps the start of 2017 is anyone's guess..

AgentSmith

The similarities are undeniable, and to be honest I don't think the circumstances are that different either. 7 years of unprecedented printing press activity and ridiculous 'easy money' policy by central banks is a recipe for disaster. The yen is on it's way to becoming totally worthless but ironically 2016 is shaping up for yen strength from a technical...

AgentSmith

Dollar and pound remain evenly matched and have been more or less consolidating over the last 6 or so years. Something has to to give. I anticipate cable to continue consolidating over the course of 2016 providing opportunities for those more accustomed to range trading. I prefer trending markets and will look to pick up the pound around the 1.45/46 area as it...

AgentSmith

Massive head and shoulders pattern has broken down and we are now testing the neckline turned resistance. Excellent opportunity IMO to short here with a downside target equal to the heads decline into the neck. Looking for +- 79.50

AgentSmith

I have been frustratingly short this pair around 2 months now and eating the negative carry. As you can see this is a weekly chart and as a swing trader over the last 2 years I've been learning the value of patience. The potential for an aggressive move to the downside here is good, although IMO this pair tends to be very choppy.. so maybe an ideal trade to learn...

AgentSmith

Again, not a huge fan of this pair as it always seems to outsmart me, however, I'm having a lot of fun back testing ideas and extrapolating from previous price action so I'll give it another punt. I still believe Fiber will hit parity (as can be seen in the chart) however momentum indicators are currently very oversold and retail trader sentiment is still heavily...

AgentSmith

I'm always suspicious of these large impulsive moves that occur. Certainly you could have made a lot of money in the last couple of days if you were nimble. I don't trade that heavily on the majors as I find the price movements quite difficult to read so take this forecast with a pinch of salt. With all the developments happening in Greece I'm anticipating some...

AgentSmith

The dollar is taking some heat on the majors and I anticipate it continuing in the short term. This should help the rand only marginally as the trend is clearly still in place. Looking for a base in the 11.5 area to go long.

AgentSmith

Short on AUDNZD for the immediate future. Looking to cover in the 1.06 area.

AgentSmith

Expecting a continued rally in EURNZD over the next 2 weeks into the 1.60 handle. 800 - 1000 pips on offer

AgentSmith

This pair has run hard. Given that major indices around the world are looking particularly heavy, risk aversion should be at the forefront of traders minds. It seems likely that this is an area for a significant pullback into the 159.20 handle, according to my EQT support and resistance system. I wont be shorting this pair considering how strong it's been and the...

AgentSmith

Euro is looking a little overextended to me. The bigger picture is still bearish IMO but a healthy retrace is due. The gap at the start of 2015 needs to be closed and the weekly support now turned resistance is in the 1.2040 area. I am looking to initiate longs in the 1.1340 area for a +-700 pip rally

AgentSmith

I have a number of NZD longs currently in play (vs CAD and GBP) and this trade is an offset to that somewhat heavy exposure. Opened a long position at trendline support and the .764 fibonacci level @ 1.5035. Daily wick is looking good (currently) at forming a very positive hammer candle. I'm hoping for a 2-3 week trade into trendline resistance and confluence...

AgentSmith

Price is moving as expected despite the false break of support in the .9125 area. My stops were however well below the lows. We are approaching a breakout to the upside again. My new target for profit taking is slightly below the previous estimate at .9725 given the volatility of the pullback. Will look to add longs on a daily close above .9430