StellarCraig

StellarCraig

Fundas - With the BOC and NAFTA talks this week, we can expect volatility. Talk of a future raise and potential positive outcome from the trade talks with US could see CAD regain strength after a few days of selling pressure . While most traders are expecting a pretty dull announcement on Wednesday. Eyes will be on the central banks outlook for potential impacts...

StellarCraig Updated 

Fundas - The Aussie has recently been hit by the US China trade feud as well as the bearish sentiment on emerging markets. On the other hand the Euro temporarily scared bulls with talks of contagion from the turkey crisis before aggressively squeezing sellers back to "pre-turkey" levels.. The risk still exists given there has yet to be any form of rescue or...

StellarCraig Updated 

Fundas- In recent weeks the ECB has done little to back up its relatively more hawkish tone displayed earlier this year. This coupled with the Turkey situation and risk of contagion has seen EURO sellers take charge, while the USD has broken higher on haven bids and solid economic numbers. The next statement from the ECB is expected on September 13 and as such I...

StellarCraig

TECHS- The NZD has been cratered recently and this bounce off the 0.6700 level gave it 4 days of upside vs the dollar.  I will be looking for a potential rejection of the 0.6850- 0.6875 area for a short entry and ride down to the 0.6750 area. This is just on watch for now and I will update as the week progresses Happy Trading

StellarCraig

FUNDAS - With CAD bulls recently coming back into the market on the back of strong econ reports, it seems the ongoing NAFTA on/off sentiment has waned. In the short term at least. For now traders seem to be positioning for a July rate hike by the BOC by pushing this pair higher. Techs -84.50 is the clear resistance point here and a break thru that could send us...

StellarCraig

FUNDAS - Markets are is total risk on mode, US/China trade wars no longer affecting haven bids and global equity markets are inching higher. What will spook these markets? Gold is on offer and I don't see it ending too soon. TECHS - With the selloff lasting 5 days so far, i anticipate a small relief rally back to liquidity where i will be looking for sellers...

StellarCraig Updated 

FUNDAS - With the most anticipated ECB meeting in a long time due on Thursday, Bulls are waiting for clues to get their 1.3000 dream back on track. Euro area inflation and growth numbers have been mixed in recent months, that coupled with the Italian/Spanish political situations has led to major selling. The ECB could however put some force back into the euro...

StellarCraig

FUNDAS - The RBA is due to release its cash rate statement on Tuesday Morning and the bullish action leading up to it shows how traders are positioning. Techs - Bulls are jumping in on every dip to 7500. I think we see 7680-7700 this week and I will be looking for a long on a test of 0.7550 or any bullish action approaching the 7600 level and above with a stop...

StellarCraig

FUNDAS - Despite strong jobs on Friday i still see this pair retesting low 108's before deciding on direction. The dollar has had a great run lately and im sure profit taking will start to take effect, along with the Yen catching a few haven bids with the trade situation.  TECHS -I will be looking for a rejection in the 109.75-110 area first, before jumping in...

StellarCraig Updated 

Fundas -  After President Trump called off the meeting with Kim Jong Un last week. NK's response was that they are still willing to meet. I anticipate the conversation will continue this week and markets will assess each statement as they come. News on this and/or the Trade wars will affect havens mostly so i have an eye on weaker Gold as things become...

StellarCraig

Fundas - Oil had a major pullback this week with supply levels being reported higher. In addition we have the Bank OF Canada (BOC) rate decision this week, weaker oil along with the market seemingly pricing in a no-go on any BOC rate hike has seen a weaker CAD towards the end of May. Techs - This chart is slightly complicated. As we can see the momentum is to...

StellarCraig Updated 

Fundas - The oil bulls are rampant and pushing on, all dips being bought. Canada (as a major oil exporter) will surely start to see the effects and as such i expect there will be short term speculation by CAD bulls. Techs - Major upside fakeout at the 1.3000 handle, sellers cam in full force. I am now looking for a correction after these two heavy days of...

StellarCraig Updated 

Fundas - With the China US trade talks break down last week, it seems we may be in for a drawn out set of negotiations. I foresee havens catching a bid leading up to any eventual conclusion of talks. Techs - I am looking at this as a typical range play. Gold crashed right down into 1300 supply and bounced. I am looking for a retest of that area for buys and a...

StellarCraig Updated 

Fundas - The earnings season so far has been mixed, however techs continue to outperform expectations. I expect bulls to come back and try to squeeze as much value as they can here. Techs: With that in mind, i am watching the NASDAQ futures for an upside play to the 6850 region with a potential entry at 6670. My stop loss will be 6560, unless i see clear supply...

StellarCraig Updated 

Fundas - With the RBA holding rates and not doing much in the last few quarters, there really isnt much to be excited about for Aussie upside, however commodities are on a bull run and China #s look steady. The dollars bull run has been fierce since last week. The market seems to be in squeeze mode on all dollar shorts as traders scamper to price in plausible rate...

StellarCraig

Fundas - With the NK statement on ceasing Nuclear programs over the weekend, the Yen lost strength and the Dollar continued its upside on Monday after a gap thru the weekend. Tried to play both sides as my longer term bias was long. I had a short on with anticipation of a small pullback from the weekly resistance area 107.60-80. Didnt happen. Techs: As with my...

StellarCraig Updated 

With the dollar gaining across the board on other majors USDJPY is bucking its head at this level of resistance. I started in short at 107.56 with a stop at 108.10 in anticipation seller supply will rule in the short term and take price back to the bottom of the range around 106.60's. Will add to winners as market confirms direction. The main struggle will be...

StellarCraig Updated 

Fundas: Despite an improved unemployment rate Average earnings fell over the period. With the CPI tmrw I am slightly ahead of the game but anticipate this action is showing how timid traders are at this level for any more short term upside. Techs: Price firmly rejected an upside breakout on the 4hr chart at 1.4375, showing some lvl of supply in conjunction with...