Yesterday USDCAD bounced from a confluence area and the psychological price of 1.30. It is a confluence of support of a descending channel (blue line) rising wedge (pink line) and the 61.8% fib (15th July low to 26th July high). Price is now back above the trendline of the wedge pattern from the daily chart (red line). US crude oil inventory figures are being...
USDCAD either a lot of profit taking or buyers are going to push price back outside the wedge pattern from the daily chart. waiting for retest of trendline
USDCAD closed back inside the wedge on daily chart which also held nicely as resistance yesterday. which shows that the trendline is still relevant.
EURUSD looks like it's making another run at breaking out of this flag on the daily chart but with 1.11 being a strong support and resistance it may be better to wait for a retest before buying.
Nice breakout of a wedge. Possible target past support 0.8500
Technically this pair looks like it will move lower with an all engulfing candle on the daily and what looks like a flag formation on the hourly we may see a break down to minor support around 115.40 but it could go to the daily trendline running from the 3rd sept 2015 low. A short trade should be taken with caution as with talk of BOJ easing and the ECB doing...
With US crude inventories remaining high and the price of west Texas oil dropping. USDCAD is testing the upper trendline of a triangle on the daily chart there may be a buying opportunity. There are a number of economic reports being released today that may support a long trade. Retail sales m/m previous 0.9% expected 0.0% Core Retail Sales m/m ...
Looking on the daily chart audusd is trading back above the 100 day ma. It also seems to have found some support at the trendline running from the 30th May low. It will be the end of the day before we know if its a all engulfing candle. On the hourly chart there is a possible head and shoulder pattern forming. The distance between the head and neckline equaling...
USDCAD has been in a ascending triangle on the daily chart which after a downturn can result in a powerful reversal. Resistance of the triangle runs from the 24th May 2016 high while support runs from the 3rd May 2016 low. While on the hourly chart it has been in a ascending channel. A break of this channel support would need to happen to confirm a bearish view...
AUDUSD struggling around the 100 day ma. But it still looks like its heading towards support. a break of support will likely target 0.7400
NZDUSD currently retesting support of the ascending channel. If US retail figures surprise to the upside we could see a move lower a likely target is 0.7080. If retail figures come in as expected it may still take a close back above the neckline of the head and shoulders pattern to confirm a bullish trade. US retail sales previous 0.5% expected 0.1% US core...
USDCAD still heading towards support which is a trendline running from the 4th May 2016 low. Possible support around 1.2830 but with US retail sales expecting a lower reading it may go straight to support. US retail sales previous 0.5% expected 0.1% US core retail sales previous 0.4% expected 0.4%
usdcad above 100 day ma first time since 24th feb 2016 but I will need a daily close above 1.3100 and above the trend line from 30th june 2014 low to confirm a buy trade. Targets could be the 200 day ma (1.3314) which is close to the 38.2% fib (1.3306) of the 20th jan 2016 high to the 3rd may low. I am looking for a daily close below 1.3000 possibly below 1.2960...
AUDUSD finding some resistance at its pre brexit high of 0.7647 it may take tonights employment figures to push price above this. A move up would target the 21st Apr high of 0.7835 this is also the top of the ascending channel. A move lower would target support at either the bottom of the ascending channel or the 100 day ma 0.7465
NZDUSD has been on a bullish run since its brexit low of 0.6969. A good entrance for a buy trade could be with a close above the ascending channel which has been in place since the 24th june 2016 high. This trend line has been respected three times since, which shows its importance. A good target may be the daily trend line around 0.7400. With Australian...
Currently Eurusd is struggling at the 200day ma 1.1092. With 1.11 being a strong support over the past 2 years it may be a good place to short, support now being new resistance. But a safer trade may be to wait for a daily close below 1.10 and possible retest if your conservative. A close below 1.10 would expose the strong support at 1.0800 A possible first target...