HumbleTraders

HumbleTraders

Aussie has been a big loser since RBA cut rates few week ago. The pair has been sold off ever since. At this stage I would consider AUDUSD bearish, considering the fact that speculators dropped their long positions and are at par as of this week. We could see more decline in the coming weeks. The current downtrend is over stretched and the correction to the upside...

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Cable staged an impressive rally last week and advanced from 1.4450 to 1.4730. We managed to capture this rally almost in full see 23rd May – GBPUSD – Long The pair formed double top at 1.4740 and printed lower since. I would expect Cable to continue the current downtrend in the short term but the downside should be limited and this market is likely to be higher...

HumbleTraders

Bears would be watching the price breaking the lower band of ascending channels this week. The current level should be considered lower low. The price is likely to correct to the most recent resistance, former support. This levels lies around 1.1200 area. Bears could enter short positions around that level. If the price prints higher high, the short setup would...

HumbleTraders

For bulls who watch this market, it is clear that the pair just reached the lower band of ascending channel and the correction to the upside is possible. Technically speaking, the pair has been printing lower prices for almost a month and it should find some bids around the current level. The current level (1.1110) is close to 50% Fib retracement from the 1.1620...

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EURUSD: 4h - Daily view EURUSD, as expected, declined from the highs at above 1.13 and closed the week at 1.1130. It seems that EURUSD is approaching anticipated support at the current levels. As indicated last week, I expect this market to have another leg up from here. We could see a bit more downside towards 1.10 before the up move resumes. Daily stochs look...

HumbleTraders

GBPUSD: 4h - Daily view GBPUSD traded lower this week again. The down move continued from 1.45 and Cable closed the week at 1.4380. I see descending channel is forming on daily charts. This is usually a bullish sign. Looking at stochastics, we see oversold levels too. The combination of these two factor could provide good environment for bulls in the coming...

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Seems like USDCAD didnt make another low and it is printing higher. Oil pullback from the recent highs and it is looking very bearish for now. The long term trend has to be asssumed. Once USDCAD make Higer high, there is a good long entry on retracement.

HumbleTraders

GBPUSD traded sideways throughout the week. It closed the week slightly higher @ 1.4490. My long bias strong for the moment but I’m cautious of heavy economics data coming out this week on GBP. If we see sharp deviations from expectation, Cable can prove to be volatile. Daily charts suggest pullback towards 1.4350 and uptrend could continue from there. Obviously,...

HumbleTraders

GBPUSD traded sideways throughout the week. It closed the week slightly higher @ 1.4490. My long bias strong for the moment but I’m cautious of heavy economics data coming out this week on GBP. If we see sharp deviations from expectation, Cable can prove to be volatile. Daily charts suggest pullback towards 1.4350 and uptrend could continue from there. Obviously,...

HumbleTraders

EURUSD: 4h - Daily view EURUSD pushed further up after breaking the consolidation zone. It did not pull back much after all. The pair closed the week at 1.1250, after reaching 1.1370 the resistance I expected last week. Looking at the chart, I see that the correction might be forming now, or the continuation towards 1.14 will take place from the current...

HumbleTraders

AUDUSD: 4h - Daily view Aussie has been very volatile last week despite bank holidays in CNY. It moved from the high of 0.1750 to lows at 0.6970. It closed the week at 0.7100. This market sends mixed signals. C.O.T data shows that AUD might be turning long in midterm, but the economic data does not confirm it. We might see some more clarity this week with...

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GBPJPY has been is strong downtrend since the risk left equity markets in recent weeks. C.O.T reports shows non-commercials getting massively long in JPY futures. The pair corrected nicely from the recent lows. There is a great resistance level at 164.50.This is where we touch 200MA as well. I’m entering short position based on trend following principle. Longer...

HumbleTraders

AUDUSD made a lower low and now pulled back towards the former support now resistance. This provides a perfect short entry at the current levels. Stochastic are not at the extreme levels and the price sits in the middle of the buy/sell zone. I decided to enter as these indicators are lagging. Price action ( lower low) should prevail. Entering limit order with...

HumbleTraders

AUDUSD: 4h - Daily view Aussie rallied further than I expected. The pair printed 0.78% Fib retrecement at 0.7230 and collapsed back to 0.70 area. AUDUSD printed another engulfing candle on the daily charts. Coinsidering fundamentals, downtrend must be assumed. NZL GDT index printed negative 7.4% last week. AUD is strongly correlated to NZD. We migh see both pair...

HumbleTraders

GBPUSD: 4h - Daily view GBPUSD also broke out from the range between 1.41 and 1.43. Pair gained momentum and printed 1.4680 after which it pulled towards 1.4450 afte Friday's NFP. The price pattern looks very bullish for the moment.. C.O.T data suggests extreme levels are building up. This is a warning sign rather than an indication of the trend reversal. Given...

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EURUSD finally broke up from the ranging channel and touched 1.1240 before it found some resistance. We haven't seen 1.12 in this market since October 2015. The probability of FED raising interest rates in 2016 are diminishing sharply. Looking at C.O.T data, Non-Commercial traders are piling on long positions in Eur futures. This could mean large market reversal...

HumbleTraders

As expected EURUSD found a top around 1.0950 area and made a substantial move down. After consolidation between 1.0940-1.0900, the pair finally broke to the downside. The long term view remains short. The price should resume its downtrend from now onward. After making new lows, the price retraced towards former support and now resistance . The pair is trading...

HumbleTraders

GBPJPY has been is a corrective move down for the last few trading days. The pair reached monthly and weekly pivot zone at 184.50. Price made a higher low and now recreated towards 50%. GBP shows some strength against other currencies. Given there is no NY trading today, there is some risk of the price not following through. Date: 11/26/2015 Pair: GBPJPY Price:...