About meInstitutional Tech Analyst (MSTA), trained by and worked with some of the most respected names in the business.
Prefer long term trends but will post a cross section of analysis across all asset classes
SEK weakness continues to reign , previously we saw a potential double bottom (DB) form with the February low (pattern later confirmed with a break of the neckline in April) and had further reason to be convinced of the reversal with an A-B-C reversal pattern forming off the same Feb low.
After reaching a YTD high of 8.9159 we saw a ner retest of the DB...
Cable formed a weird almost butterfly esque formation (well symmetrical type wings anyway!) earlier in the year which basically got use back to where we started
This month has seen a decisive move below the 200MA and we are now targeting 1.300 and 1.2700 as £ continues to weaken
Short on breaks of support or buy on corrections to support turned resistance levels
Traders layering into TRY potentially got burnt last week as the Turkish Central Bank intervened to halt the local currency's worrying devaluation by raising interest rates by a whopping 3%
Whilst i tend to let the majority of fundamental data pass me by , it often pays to atleast maintain a health awareness of key macro factors that might have a direct impact...
After the rapid ascent we saw a natural pullback with some profit taking and now look poised to resume the upward trajectory for which a possible target could be the 2015 high of 4.24
Price now at key level , seen some intra day forays above 3.75 but failed to close above the reference point
Traders , look for a new high to take further long entries. I see no...
Could be poised for a decisive breakdown as price is testing the bottom of the regression trend channel / 200 MA
For a bearish confirmation i'd like to see the channel breaks as well as the Jan 2018 low
Keeping tabs as long consolidations often lead to big breaks
EUR weakness proving a consistent theme across some of the longer timeframe charts.
EURCAD has almost fully reversed the Jan-Mar ascent and with startling symmetry. We saw price pay the upmost respect to the 2016 high with a few wicks breaching the level before sellers drove price south.
For clues as to where this pretty choppy pair might head next it is worth...
Last week saw JPY continue to advance adding further weight to the breakdown seen the week before
Price is currently just above resistance turned support at 124.094 and below here we have sloping trendline support the June 17 low (the two intersect, 20th Aug).
Traders not already short EUR / JPY could wait for the aforementioned levels to clear before taking...
On the weekly chart we can see that CAD is now tradin above both the 50 and 200 weekly moving averages and CAD is weakening nicely as we approach the March 2018 peak . Monitoring for a breakout and will then look to lower timeframes for entry opportunities
AUDCAD bottomed out with an inverse head and shoulders reversal which was confirmed with a break through the neckline at 0.97054. The pattern targets 0.985 which currently aligns with the 200 DMA which is a useful reference for aligning longer term directional bias. Currently we can see price is undergoing a natural pause around the 38.2% Fib. retracement level of...
As highlighted in the chart , the Aussie has been trending in a nice bullish channel on the weekly timeframe since Q3 2015 and we are currently seeing a test of trendline support which was last tested in December 2016 and preceeded a bounce from 0.71 to 0.76
Looking forward from today it would not be unrealistic to expect rates to cross the centre line which...
Some developments this last week with respect to moving averages as we can see Cable drop below the 200DMA and also the 50DMA has now crossed below the 200DMA
Friday's bar closed just below 1.33 and in line with the Dec 2017 lows and the next level of support on the daily and weekly looks to be around 1.30
Keeping tabs to see if we can get to 1.30 and then...
Brent Crude Oil continues to trend reasonably well since bottoming out around $44 June last year. We then saw a break through resistance at $58.35 in October which may have provided an aggressive entry for traders keen to catch the beginning of a potential bull trend , a few months later though further conviction of upside momentum was seen as price paused at the...
Since breaking out in November 2016 post US Election, we saw a huge rally, very smooth with mainly shallow pullbacks , no threat to the 20 MA and a nice and flat ATR curve.
Since hitting a peak in January 2018 at 2872, we have seen two deep retracements, each testing the bullish trendline drawn from the Jan 16 low at 1,810. The index is currently positioned...
Cable has broken above 2017 highs and the 2014 bearish trendline and is testing the confluence of the pre-Brexit support turned resistance at 1.3831 and the 38.2% Fib, retracement of the 2014-17 downtrend
RSI is showing a bearish divergence vs price which adds further warning that we may see a pause in upward momentum and we are also right up against the...
GOLD bearish momentum continues and i am looking to add further shorts on the next pullback or on confirmation of another bearish flag below 1200. Since bouncing off the 61.8% retracement level of the Sept/Oct range, the Oct lows have been taken out, we had a nice and neat bearish flag which presented another entry opportunity.
