If I had to pick one currency to have a long position in ATM, it would be GBP.
The EUR is weak, the USD is seeing a much needed pullback, and despite uncertainty in the past couple of months leading up to the elections, the GBP is starting to look like a nice long trade.
I think we might see a decent opportunity in the GBPUSD in the next couple of days.
Plenty of confluence is building up around 1,10-1,11.
1. Key Weekly zone at 1,10-1,11
2. Bears defended 1,10 on the 18th
3. Bears stepping in, again, today, defending 1,10.
4. 50-61,8% fibonacci level.
As recent as last week, the bears defended this level, and chopped of some of the bullish engulfing on the 18th.
So the bears are definitely present around this...
While the greenback is smashing upwards, I think that the GBP is starting to look interesting.
The last couple of weeks, the GBP has been pulling back across most pairs, but now i think it is about time to go long.
I see opportunities on a number of GBP paris, but to minimize exposure I have selected my favorite; GBPNZD.
The overall momentum has been bullish...
No doubt who is in control here. Pretty much a selloff since 2011-ish, with bullish pullbacks here and there.
In the start of December '14, a bearish crossover occurred on the D1 after a pullback, and the selloff continued down.
Yesterday's candle (Monday, 09/03) showed a clear rejection of the key level around 1.0515 and the 50EMA.
Bears are definitely...
I am still very bearish EUR, which I will probably be for the rest of the year – at the least.
I see absolutely no reason to buy EUR and it seems that it is an image that generally recur in the market. There is not really anyone who is interested in buying EUR ;)
Yesterday came another jolt in the euro heading for the abyss.
EURUSD broke through a key level of...
Good question. A pretty weak currency, versus, clearly, the strongest.
USDOLLAR is flying high, and the greenback has seen increases in 11 of the last 13 weeks.
This is certainly reflected in the EURUSD which is dropping like a stone, and where there may be some time between significant setups, simply because of the speed of the drop.
SNB’s stunt resulted in a...
As shown on the D1-graph, the EURGBP began to trade into a symmetrical triangle around September '14 which created a progressively higher bottom, while a gradually lower ceiling - with one single fakeout, which was rejected by the 200ema and resistance in 0.803, on the 19th of November.
Momentum has, since the summer, generally been bearish EUR, and this combined...
Disclaimer: I know I've written AUDJPY in the headline. Bummer, but I cant edit it. This is of course the AUDNZD I am looking at.
The AUDNZD has been massively bearish since november this year, and I am only looking to join the short momentum and short this pair at the moment,
On the 17th of December AUDNZD broke through the 1.053 level, which acted as key...