FXTechs

FXTechs Updated 

The Cable was killed last week as markets rattled on China fears and US Non Farm Payrolls trumped expectations. Pair finished the week below a descending triangle bottom marked by the 2015 lows and looks set to continue lower over the coming weeks. Initial target is the 1.236 extension of April - June 2015 around 1.4240, this extension coincides with the 2011 lows...

FXTechs

The Aussie had a rough start to the year, declining more than 4.8% against the US Dollar. This was the largest weekly decline in % terms since September 2011, when the pair declined over 6%. We are currently descending towards a triangle bottom marked by the 2015 lows - a break lower would initially target the 68 handle, marked by the 1.236 ext at .6794. Expect...

FXTechs

USDCAD is on the warparth: December's close above the 61.8 Fib opens up the 78.6 Fib just below 1.4660. Pair has displayed incredible strength compared to other USD majors and shows no sign of stopping - momentum appears to have actually picked up in the first week of 2016. Expect a test of 1.4660 by the end of the month. The unlikely alternative, a reversal below...

FXTechs Updated 

A mega NFP print Friday saw the Euro decline 186 pips / 1.71%, confirming the double top pattern that had been brewing since April. The close below 1.0828 should (finally!), open the path to the multi-year low set back in March (1.0462). If bears manage to crack this level, parity should not be too far off... this was a very large consolidation pattern indeed -...

FXTechs

Trendline connecting 24th Aug low to the low on the 26th has been breached and is now acting as resistance. A sell order will be trigggered on a break below todays low with a 25 pip stop loss, 80 pip target and 20 pip intelligent trail.

FXTechs

EURUSD carved a lower high on Friday as Hourly RSI respected down trend from the 9th and double topped around 60. Gap lower to start the week reinforces our bearish bias. Pair is bearish absent a breach of Friday's high/Momentum break above 60. We are moving stop to break even on short from 1.1302 as Friday's high failed below there - Risk free - Holding...

FXTechs

EURUSD appears to be failing below a critical resistance zone which stretches between 1.1384 - 1.1442. 1.1384 is yesterday's high and coincides with the long term descending trendline connecting the July, September and December swing highs. 1.442 was the highest daily close in the Head and Shoulders pattern from 3 weeks ago. We have entered short at 1.1302 with...

FXTechs

We called for a bounce towards 1.0960 yesterday before a move lower - pair actually bounced a further 220 pips and is testing former trendline support/the area around the neckline of the H&S. Despite the higher low and serious bullish momentum - we are still looking for a fail around here. Currently Neutral looking for topping candles/signals before entering short.

FXTechs

EURUSD Retested 1.1 overnight but failed below 1.0980 - the move was quite quick and we once again missed our entry. See another bounce towards 1.0960 before an eventual move towards the multi-lows around 1.05. Shorts above 1.0940 against 1.0980/1.1005 are valid but more conservative traders could wait for a break of the minor support trendline/overnight low...

FXTechs

EURUSD Has turned lower from former trendline support and looks set to head lower - we are hoping for a retest of 1.1 after taking profits but may have missed out. Flat for now - Looking to short.

FXTechs

EURUSD has broken through horizontal support after a Head and Shoulders topping pattern earlier in the week. A top is now in place at 1.1450 and pair appears to have resumed it's down trend - we opened a small short position at 1.133 and added at the open. Aim is to fade into a much larger position targeting the multi-year lows, continuation. Pair has been...

FXTechs

EURUSD has broken through the ascending neckline confirming the Head and Shoulders topping pattern. Sadly this occurred without a bounce and there was no chance to short higher. Pair appears to have stalled at horizontal support above 1.1050 and we may well get a bounce towards the (broken) ascending neckline around 1.11250. Look to sell any bounces into this...

FXTechs

EURUSD breached 1.14 last week but appears to be a false breakout - the Head & Shoulders setup could still be valid. Look to short a lower high between 1.13 and 1.14 with a stop above 1.1465. More conservative traders would wait for a break of the ascending neckline. Break above 1.1465 invalidates.

FXTechs

EURUSD has put in a lower high below 1.13 and appears to have topped - Head & Shoulders. Looking to short above 1.1250 - below 1.13 or more conservative traders will wait for a break of the ascending neckline (currently 1.1147). A break above 1.14 would negate.

FXTechs

EURUSD Appears to have topped out below 1.14, with RSI failing to confirm the high set on the 7th of May (1.1390). Bulls are attempting to carve a higher low above 1.1095 but chart pattern looks suspiciously like the start of a Head and Shoulders topping pattern. We are looking for a right shoulder around 1.13 and will short against the head if this eventuates.

FXTechs

AUDUSD sellers are testing the waters below the wedge bottom and looking to take out the April 21 low, 7682. A break below there would target the multi-year lows around .7550. On the other hand, a false break/trip back above the wedge top, would negate the wedge and suggest pair is actually ranging. We are short from .7756 with a breakeven plus 2 stop - ready for...

FXTechs

AUDUSD Carved a higher low around .7680 which clouds our bias a little but we believe shorts are still valid against the Right Shoulder/Wedge Top/Head. We were trailed out at .7736 for 2 pips and will be looking to re-short soon.

FXTechs

$AUDUSD Despite gapping higher on further Chinese stimulus, bulls were unable to take out the head of a Head & Shoulders topping pattern and the neckline was broken late Monday. Pair declined steadily Tuesday on back of a dovish speech from Governor Stevens and RBA minutes. Pair is currently pulling back from the lows and traders will be looking to short the...