Trader_Troy

Trader_Troy

We are waiting for a break of this inside bar setup.This pair is still bearish, having broken below weekly support in this fib play. There are multiple confluences suggesting the bears are in full control, including the MA's still being in bearish territory. We will wait for setups one we get a break lower from this inside bar setup, or short a retest of the...

Trader_Troy

This pair is slowly ticking lower but has been unable to close below the 1.3015 weekly level. Once we get a clean break and close below this level on a daily time frame we will look for shorts. We have to be patient with this as the MA's are in bearish territory on the weekly and daily timeframes, as well as the weekly bearish fib play. This level is holding but...

Trader_Troy

This pair reacted off a monthly level to see a weekly pinbar form. This is also a bullish daily fib play with prices rejecting the 61.8 level which is confluent with the key monthly 1.0510 level. I'm expecting prices to pullback to the highlighted area before continuing its leg higher. I am looking for around 120 pips (1st target) for 1:3 risk/reward

Trader_Troy

I see shorts for GBP pairs this week. On this pair prices have broken below weekly support, and has been unable to close above this level on a weekly timeframe. We are about to see a bearish cross of the MA's on the daily timeframe, although they have already crossed on the 4hr time frame, and are in bearish territory on the weekly and monthly timeframes. We are...

Trader_Troy

Gold broke lower out of this channel after testing this weekly level to the upside. Prices then pulled back after testing the daily level to the downside and is currently rejecting the 61.8 fib. If we see bearish price action I will enter short

Trader_Troy

USD/JPY rejected this zone and is heading lower. On a break of his counter trendline we can go short. Risk/reward is 1:2

Trader_Troy

GBP/USD is in a key area and we have had two 4hr inside bars. A break above this area would show that support is holding, therefore giving long opportunities. A break below weekly support at 1.2420 would see us short to around 1.2250-1.2200. It is important to remain unbiased and trade what we see here

Trader_Troy

This pair broke below weekly support after a somewhat less hawkish than expected RBNZ meeting. I now see prices heading lower to 0.7050. We should see a pullback to the marked out area before heading lower, or we will have opportunities to short once we break below 0.71180

Trader_Troy

At 2000GMT the RBNZ will announce their rate decision, with unanimous expectation of rates to be held at record low 1.75%. I believe comments from the RBNZ will be mildly bullish for several reasons. Recent data out of New Zealand has been encouraging as CPI has returned to the RBNZ’s target (1-3%) with both Y/Y and Q/Q figures printing better than expected, and...

Trader_Troy

The RBA rate decision tomorrow at 0330GMT has unanimous expectations for rates to remain unchanged at record low 1.50% (ASX 30-Day Interbank Cash Rate Futures pricing in a 95% chance of a hold). Data has been weak since the last meeting with Unemployment Rate rising for both December and January and is now at the highest since June 2016, while we also saw a miss...

Trader_Troy

Expectations are for the BoE to hold rates and maintain their current QE programme, while increasing their growth estimates (HSBC are expecting 2017 GDP to be revised higher to 1.7% from 1.4%). The reason for this upgrade is the slew of positive data we have seen since the last meeting. This month alone both GDP and CPI beat expectations on a Y/Y and Q/Q basis,...

Trader_Troy

DXY has closed this month with a bearish candle and also closed dead-on the same price as the previous month's lows. This suggest strong bearish pressure and with the Fed rate decision today, NFP on Friday and increasing uncertainty around Trump's policies, we could see continued bearish price action for the dollar in the coming months. Today's US interest rate...

Trader_Troy Updated 

This pair has broken above key weekly resistance which is now acting as support. This area is confluent with a third touch of this ascending trendline and the 61.8 fibonacci level. Prices are now retesting the counter trendline and if we see bullish price action i will enter long with first target at the 27% extension fib level (1.2715) for 2:1 risk/reward and...

Trader_Troy

NZD/USD has remained bullish after the bullish CPI data that I successfully predicted. Prices moved lower after testing this descending trendline to pull back to key support, and is now continuing its ABCD move higher to possibly retest this structure. There is some uncertainty surrounding the US dollar amid Trump's policies after he signed travel ban for several...

Trader_Troy

If you missed the AUD/CAD short I posted recently you may still have a chance to enter if prices pullback to and reject the highlighted area. My overall bias remains short despite Friday's bullish candle. I will watch prices in this area, but if prices continue higher I will watch prices at the 61.8 fib for another short there

Trader_Troy Updated 

GBP/USD has broken this highlighted area of resistance and pulled back to the area, which is confluent with the 61.8. We are seeing prices stall at this level and GBP has been strong recently and beat on both Y/Y and Q/Q GDP figures today. I am now long from 1.2595 with a stop loss at 1.2538 and take profit at 1.2776 for a 3:1 risk/reward

Trader_Troy

AUD/USD has pulled back to key weekly support. I see prices driving higher over the next week or so. As it stands, the monthly candle is a strong bullish candle and the dollar is losing steam, which supports my bias

Trader_Troy

This is a daily NZD/USD chart. Later today we have key New Zealand Q4 CPI data and comments from RBNZ Governor Wheeler. Both releases are likely to provide volatility so it would be wise to cover open positions and avoid opening positions around the time of the data and speech (21:45 GMT and 23:00 GMT). Data from New Zealand has been mostly positive since the last...