ColmoreFX

ColmoreFX

Bitcoin bounced from the $3000 zone we pointed out before. Looking at the chart technically again we could see a retracement into the $4500-$4000 zone before seeing another leg higher. If we see a strong influx of new bitcoin users this could drive demand higher and we may see only a slight adjustment before seeing further new highs.

ColmoreFX

Looking towards NZD weakness and looking across the cross pairs we can see that EURNZD has approached a support level. Price has come into the key support and Daily 38.2 fib of daily move. Price has taken out 4 1hr highs looking for a pullback into the highlighted zone for a long opportunity.

ColmoreFX

Daily resistance level & 61.8 Daily Fib Level has been hit and the market has rejected the resistance zone. Price has now started to move lower and broken out of the consolidation area. Looking for price to pullback to minor resistance for a short opportunity.

ColmoreFX

Gold has found support on the 4hr timeframe inline with structure and weekly 38.2 fib retracement. We can see that price has just broken out of the trendline resistance and expect a pullback to potentially trade bullish price action to the upside. Could potentially target a lot higher if you are looking for the weekly trend to resume.

ColmoreFX

Daily chart in an uptrend making higher highs and higher lows. 4hr chart has been working within the channel and weekly pullback looking for the market to resume the trend. If we see a double bottom we could look for a break and retest of structure to take this market higher.

ColmoreFX

As we discussed in our previous post EURO seems to be topping out as CANADIAN DOLLAR remains dominant against a number of currencies. Looking for further downside to come in this market. If price can continue to the downside and break the support level of 1.4444 this market has significant room to the downside.

ColmoreFX

Traders we have been watching EURUSD for a while as it struggles to break above its previous highs and is sitting within a weekly resistance zone. We are looking for a break below the daily lows for opportunities for a short position. Weekly chart suggests a weekly retracement could be playing out. FOMC last week stated they expect to hike rates 1 more time this...

ColmoreFX

Traders, CADCHF was brought to our attention as it came and re-tested a weekly support zone and formed a double bottom on the 1hr timeframe. We waited from the break of the neckline before looking for an opportunity for a move to the upside. We will look to add in if we get a confirmed break of the previous daily high circled. Target the resistance at the top.

ColmoreFX

Traders, CADCHF came to our attention this week as we identified CHF (Swiss Franc) as a week currency. We paired this with our strong currencies and looked for set ups. CADCHF came and re-tested a weekly support zone and 1hr channel support. From that we saw a double bottom and traded the re-test of that price action. Looking for CADCHF to take out the daily high...

ColmoreFX

This week we are looking to get USD long as we can see potential strength re-entering the market, we have a reversal trade here on USDSGD. We have been down trending for some time and now we have hit the 1.3400 weekly support level and look to be bouncing from the level.

ColmoreFX

Both Currencies are currently weak after they both came into significant resistance levels. We are now seeing consolidation on the 4hr chart. 2 possible scenarios to watch out for, a break to the downside and a re-test of 1.4835 would be suffice to look for a short trade. If we see a break of the trendline resistance to the upside we will be looking for a re-test...

ColmoreFX

We have been looking to take advantage of the GBP strength however the move doesn't seem to want to pullback just yet. Correlating this with the FTSE100 we may be able to get into the GBP strength by shorting the FTSE100. A retracement into the 7390.00 level into previous price would be ideal for a short opportunity.

ColmoreFX

USDCAD continued to move lower as BOC raised interest rates to 1.00% seeing investors run to the Canadian Dollar. Technically we are watching for a pullback into the lows and 38.2 fibonacci retracement before looking for a short opportunity.

ColmoreFX

Gold has entered the key resistance zone of $1340.00 and has stalled for the past 3 days leading to today's candle finishing as a bearish inside candle. Looking for a short term short position back into the key support. This is a counter trend move and will be monitored at the key support and fib levels.

ColmoreFX

EURGBP has been climbing to the upside for some time now as the EURO gained significant strength across the pairs. However now we are starting to see a move lower in the EURO as exhaustion enters the market. GBPUSD held at significant key support and bounced showing it may finally be heading for the 1.3300 handle. Looking at this pair we can clearly see from the...

ColmoreFX

Currently short USDJPY as the risk off scenario looks to continue with geo-political tensions growing between the US and North Korea we are seeing safe haven currencies and commodities appreciating. Watching the 1HR charts we can see that price has respected the dynamic resistance of the 20EMA and created a C2 close off a 61.8 Fibonacci retracement.

ColmoreFX

Litecoin currently holding at the 20EMA however we expect the cryptocurrency to re-test the break out level at $54.57 before moving higher. The cryptocurrency market was hit hard yesterday as China announced they will be banning ICO's (Initial Coin Offerings) stopping companies creating finance through pricing the coins at a fixed rate. We don't see this as a...

ColmoreFX

GOLD continues its move higher as the USD continues to weaken. The break and close above the key level of $1300.00 gives us reason to look for long opportunities into the resistance of $1338.00. A pullback into the support would be ideal for long opportunites. We are also looking to the smaller timeframes for short term continued longs.