BoonHooi

BoonHooi Updated 

As we all know, round numbers are natural support and resistance levels. I see the pair completing a Bearish Shark pattern at 0.8100 - The H1 and H4 RSI already at the overbought zone - D1 RSI approaching the overbought zone hinting to us of a potential reversal Note : FOMC announcement tonight at 2am (Singapore time)

BoonHooi

The Nikkei225 showing a potential Gartley Pattern completion at around the 19900. I would be more patient on this setup: - The CD Leg move is has been very strong, hence it could take more time to stop and reverse at the PRZ - I would like to see a reversal pattern at the PRZ The H4 RSI is already at the overbought zone, hinting to us that the potential of a reversal

BoonHooi Updated 

This pair has been in congestion towards the end of last week. From the technical perspective, is it heading higher or lower ? The name of the game is patience, unless you have the crystal ball sent from the heavens to tell you the next move, we should just be patient and let the market show us. If it breaks higher, we can look to go long when it retests the...

BoonHooi Updated 

Spotted a Bullish Butterfly on the GBPAUD - completing at around 1.6188. Similar bullish setup on the commodity crosses, GBPNZD Probably the Brexit negotiations will be the trigger for the long

BoonHooi

The GBPNZD charts showing me a potential Bullish Gartley pattern completing at the 1.7509/37 zone. I would be interested to go long at this zone, but I would first want to see a reaction at these levels. Hopefully we can see a reversal chart pattern at the buy zone. One more leg down to for the T-Bar will probably cause the RSI to go oversold, an ideal case for an entry.

BoonHooi

EURJPY completed a bullish Crab pattern, bounced off the PRZ and has now come back to the same levels again. Taking a long with a small 45pip SL. Entry : 128.75 SL : 128.30 Leave the targets open for now.

BoonHooi

One of my favourite classical pattern to trade - Rising Wedge. This is a signal to take a short on the pair. Could wait for the retest of the TL Stops above the recent highs

BoonHooi

The DXY has just completed a bullish Bat pattern and it is showing an initial reaction to the PRZ. This is also evident in the falling EURUSD and GBPUSD. I believe we could be seeing the end of the dollar weakness since the beginning of the year. Hence I will be looking for a short play on the EURUSD and GBPUSD

BoonHooi Updated 

The measurements shows a Bat completion at 0.8050 Let's wait for a reaction at that level before entry Please note that RBA statement is at 12.30 (Singapore time) The RBA is expected to hold the rates at 1.5%

BoonHooi Updated 

EURUSD approaching the resistance zone created by the Aug 2015 and the May 2016 highs. I see a rising wedge forming with the RSI showing that this move is exhaustive. Will look to go short if it breaks out of the wedge.

BoonHooi

Technicals/Charts: - Approaching the Support/Resistance at 3.20/3.30 levels - Weekly RSI turned up at 50 - showing strength still - MACD consolidating for some time I would like to see price break above the resistance TL and the support turned resistance zone with high than usual volume. This will give an indication of a strong rally.

BoonHooi Updated 

Fundamentals / News / Sentiments: On Tuesday the RBA maintained the rates at 1.5%. This is seen as a mildly hawkish move. More economist have shifted their stance and abandoning their forecast of a rate cut. They are expecting the rates to remain at 1.5% for the rest of 2017 and well into 2018. The ECB, BOE and BOC has recently turned hawkish and started talk of...

BoonHooi

AUDCAD has been supported at the 0.9920/50 levels since April This moment it looks like the support is giving way. Since I am already in the AUDUSD short, probably I will wait for the retest of the 0.9950 level for a short at a better price Potential Targets can be at the 0.9650 lows

BoonHooi Updated 

What the chart is showing us: - AUDUSD approaching resistance at the 0.7700/50 levels - Friday candle closed and formed an inverted hammer - RSI just about touching the OB levels - Completed a Harmonic bearish Bat pattern Potential targets down at 0.7500 (support/resistance zone) Let's see how the price moves at the start of the week

BoonHooi Updated 

AUDUSD has been in a range from 0.7150 to 0.7750 since the beginning of 2016. As this pair rallies from the beginning of the month of May 2017, it is fast approaching the top of the range again Bat pattern completing at the 0.7700 level. I would be interested to see how the price reacts to this level before looking for a short.

BoonHooi Updated 

GBPUSD has been on the rise this past week. The pair has risen over 350 pips from the 21st June lows. Technicals The momentum of this move is strong, it will need some time to form a base before a reversal can happen. The RSI showing overbought situation, hence I believe there will be a pause in the rise at this point of time. Pattern Identification Bearish...

BoonHooi Updated 

The Dollar Index seems to be respecting the PRZ of a Bullish Harmonic pattern this moment. Possible to see USD strength in this coming week. The horizontal 97.50/70 would be the critical zone to cross to confirm its bullishness. Let's look for the correct pair to trade if this USD strength plays out.

BoonHooi Updated 

The 0.9950/1.0000 level seems to be a good support for this pair. Took a long at 0.9991, hoping to target the 1.02 levels Stops at 0.9935