Kav1ka

Kav1ka

Not sure where to begin with this pair. After Deputy Governor, Tim Lane's comment on Monday sent USDCAD surging above 1.23 level. Also thanks to the Fed for adding more boost to the Dollar. In short, Canada's economy after posting massive GDP that caused a surprise rate hike at the beginning of the month, there is no question that we will continue to see more...

Kav1ka

Goldman Sach's recent forecast revision on Crude Oil, If I remembered correctly, it was $52. I'd say, High $53 - $54 by Christmas! Ho, Ho, Ho! Cheers.

Kav1ka Updated 

Weak U.S. data means strong USD, at least that's how the market interpret economic data lately. Negative Retail Sales did not move a penny for the dollar. Core CPI came in as expected at 1.7% and it's been declining since who knows when. Alright, it's Technicals versus Fundamentals. DXY is poised to break above the downtrend line after having been tested for...

Kav1ka Updated 

USDJPY kicking stops and taking names. So, what goes up must come down. I mean, it has to go down one way or another. This harmonic pattern says it's oversold although I haven't quite figure out its name. Is it a shark?

Kav1ka Updated 

Is it a double top? Not quite yet! It's too bullish to even think about shorting the Euro. Alright, I'll cut to the chase... Elliot wave count suggests that there is more to come for the euro. 1.22 level isn't that far away and it wasn't long ago that Euro was supported at 1.19 level. So, according to Elliot, there should be a final (wave 5) push up before we can...

Kav1ka Updated 

Today's ECB meeting confirm more bullish activity for the Euro currency. The Eurozone robust growth continues to support the euro albeit inflation remained subdued at a low level. That said, long until new high establishes at 1.2130 level, and possibly an extension to 1.22.

Kav1ka Updated 

Trading patterns ahead of ECB, "Bearish Gartley", as a possible double top. When it happens, expect further downside to 1.16 and perhaps even lower. Will follow up with Elliot Wave Analysis as market structure forms in coming days.

Kav1ka Updated 

Looking for RED euro ahead of ECB meeting. Technically, it is overbought and needed to fall back before going any higher. ABC correction measured move should complete the abc pattern near 1.1700 level.

Kav1ka

Kiwi Dollar have recently broken above the long term downtrend line and completed the backtest of support. Looking for an upside rally to 0.7300 level to complete ABCD pattern.

Kav1ka

There are many factors affecting this pair, between Trump and Kim, Recent CPI data remains the same at below 2%, and so on. Feel free to comment your opinion as to why USDJPY will fall in coming days as well. :) Again, it is only an idea. This in my view would dismiss the notion of interest rate hike at the end of the year. Technically speaking, USDJPY has broken...

Kav1ka Updated 

It's only mid month so I may be a little early to say that it is going deep south; And for a couple reasons; 1) USD core cpi remained as expected at 1.7%. Which is one of two economic indicators besides employment data that is monitored by the Fed for next rate decision. And 2, we broke major support level at 1.28 which could send this pair down, possibly to 1.15....

Kav1ka

It has been 14 days and counting that the most recent gap which resulted from French election left many bears holding the bag, including myself. Unless you have a stomach that can hold a position until the tide turns in your favor; today may be the good news, however. Take a look at this chart. The technicals show that this pair, USD/JPY reached what seems to...

Kav1ka Updated 

Monday setup for the EUR/USD (long) with a tight stop loss. In any case it goes lower it should be bought at 1.0570 area where it meets trend line support. Volatility this week should be to the roof.) Happy Trading.

Kav1ka

After 2 weeks of bull run, it is time for the euro to revisit low levels. Accompanied by continuance of asset purchasing as stated by Draghi last meeting on the 19th, it may go down further to 1.02 levels. Until next indication of where monetary policy should be heading in the near future, the play is to short the Euro. In my opinion! Happy Trading. Cheers.

Kav1ka

This week's play for the USD/CAD is to short USD as the Dollar index is looking to decline even further. Until the USD Index reaches next support level at roughly 100 even handle, or perhaps upper 99 levels, this potential cypher pattern should respond with the dollar to rebound off support. The fundamental picture of the market, in my opinion anyway, is the ECB...

Kav1ka

Setting up for a long position on the USD/CAD after the break above the downtrend line.

Kav1ka

Tempting to short this pair at .74000 level. Half way to target with 3 potential patterns showing strong resistance at this level. However, still cautious of a possible short squeeze as did the euro during holiday period. Stop loss is a must. Happy Trading!

Kav1ka

Following NFP report last week which seen as bullish despite an uptick on unemployment data, the focus mainly was the hourly wages which beat expectation of 0.4% vs expected 0.3%. This week economic data (JOLTs report) should give us a closer look at the labor force market and whether unemployment is really a concern. If however, the market disappoints then we...