This Wednesday we have RBNZ's Official Cash Rate and Rate Statement. Will this news event give the signal for a bearish move to sub 0.7 levels? I can see price do a number of things by Wednesday. Already anticipating bad NZD news and break lower to 0.6680 region slowly moving towards the lower trend line which then breaks upon the news Staying around...
We are at an area that has been a strong support on various occasions. Daily shows signs of oversold on RSI and Stoch. Price seems to consolidate at current levels but today's candle wasn't as convincing as I had hoped. 6th and 7th on the other hand were as well as yesterday's bullish candle. Preferably I'd like to see a clear break and hold above the current...
H&S was formed but not confirmed. We instead got a bounce of the neckline. Possible scenario for next week: Break higher. After breaking the upper trend line of the downward channel we move higher and try to break the first resistance zone at 1.4150 - 1.4175. This was an area of strife in the past as indicated. It was on multiple occasions in the past as you...
I believe we are looking at the (temporary) end of the EUR bull run against the pound. Consolidation since 6th of April Break of steep lower trend line of bull run Bearish divergence in RSI and Stoch Multiple long wicks at this level indicating bulls didn't have enough strength to really break higher. On the daily RSI and stoch are overbought which,...
Are we nearing the end of the CAD correction? Ready for a next leg up? Monthly is far from oversold on both stoch and RSI. We had a bearish divergence which is at work now. The bearish candles are large and solid so it would take a some serious bull power to stop the bear attack, but who knows, maybe this month we will get a first bullish candle or some...
Looking to short AUD at around these levels. Multiple signals that new lows can be made if we clearly break below 0.75 in the coming day(s). Might first see a small consolidation and retest of broken trendline at about 0.7525. Lower high, lower low Previous 4H candle clearly broke the trendline RSI and stock pointing lower on 4H RSI and Stoch bearish...
PA is at a pivotal level. A clear break and close below 154.75 gives a strong sell signal. A bounce here to back above 155.75 could signal a reversal and the start of the final leg up of what could then become a double bottom with the neckline at about 164 and a completion of this pattern at around 171 - 172. To support this long position we have the stoch and RSI...
As the title states, shorting the last part of what looks like a H&S pattern that is about to get completed (if 1.44 holds). Aiming for at least neckline of (possible) H&S at 1.4065 with stop right above supply zone, 1.4410. Entry at 1.4380 - 1.4370. Other elements to support this short are: Hidden bearish divergence on both MACD and RSI on 4H TF; Both MACD...
Price made a clear break lower on 16th of March and is currently retesting the previous support now turned resistance at around 0.9780 - 0.9800 . Even before the 16th the price broke lower and retested these levels but sellers weren't able to keep the pressure on and lost the battle to the bulls at the 0.9780 - 0.9800 region. This can be seen from the ...
Looking to long EUR against the CAD for following reasons: - Break of upper trend lone downward channel; - RSI and MACD were oversold on daily and now show a bullish trend; - Strong bullish daily candle indicating strong buying power at 1.45 region; - On Weekly chart we are in an uptrend and lower trend line held and bounced of of it; A buy order is placed at...
- Price touched resistance which has shown to be strong in the past; - RSI and MACD are overbought on Daily; Waiting for clear candle pattern beginning of next week that confirms reversal towards 0.7350 and 0.7140. I'd like to see a doji at this level with a clear bearish candle following it. It's not the most solid setup given we just broke higher but at...
We have reached a bottom with following elements support a longer term bullish trend: - Forming a possible double bottom - RSI and stock aimed north - A hammer formed at the bottom of the bearish trend and got confirmed by a large bullish candle. - Fundamentally Japan is worse off compared to the US Order has already been triggered at 112.95 with first target at...
GBPCHF is still in a downward channel long term and revisting 1.39 region is highly likely in the coming week(s) give long term pressure on the pound against the dollar and the dollar against the chf. Price broke lower yesterday (16/02/2016) and after a retest of upper trend line a move lower is very possible.
Dollar is already oversold against the Canadian on the MACD but RSI still shows some leeway which corresponds with the possibility of reaching 1.3450 - 1.3430 region in the coming days. After that I can see a bounce up back above 1.36 and in a later stage 1.40, 1.45 and even 1.50 (depending on how oil moves in the coming month(s)). So do note, that in the short...
GBP has seen a large short interest the last week(s) and this will most likely continue due to the not so stellar expected growth in the UK. Technically the GBP has been going south against the CHF for some time now and has recently broken through a fairly strong support level 1.4600 - 1.4630. It retested that region a few times (8th, 11th and 13th of January)...
Even with the downward channel broken, I still prefer to short this pair towards 1.05. with targets at around 1.0850, 1.0740 - 1.0715, 1.0520 as long as 1.1 holds. A clear break above 1.1 could signal a potential move higher towards 1.14 in the longer term. As long as 1.1 holds we can see further downside towards the previously mentioned areas. First target would...
Double top confirmed after break lower to 0.64. Target 0.60 Possible entry for those that aren't in yet is retest of previous support now resistance at around .0440
GBPCHF broke out of the flag of the bearish flag patter confirming it. Consolidation and retesting of the previous support now turned resistance happend and the price is now moving further down with the next possible consolidation area at around 1.4290-1.4190 before going further down towards 1.38 which would be the end of the bearish flag patter. Above...