Head and shoulders pattern, potential for shorts to 1.3360-1.3315
Break of inverted Head & Shoulders, duplicated creates target 1. Almost a 1:2 ratio. Stop below right shoulder.
EURAUD has a potential long opportunity lining up. We have maintained price generally above the ascending TL, we are now at the 61.8% retracement from the most recent low to the recent high, although it is messy. Price is also currently being supported by the daily 50ema. Entries to be placed 1.5940, with stops at 1.5880, to target 1.6200. Price will need to be...
GBPJPY came under some huge selling pressure towards the end of the week. We have Theresa May brexit vote this week which last time in January was rejected. Therefore this week I suspect we will see high pound volatility. It will be interesting to see if investors are pricing in a negative vote for Theresa knowing the deal will be rejected therefore selling the £....
EURNZD has been nothing but indecisive with it's moves this week, relying on a news catalyst to finally makes it's direction today. Mixed opinions this week on whether we would see another rejection of 1.67 zone and descending trendline % 78.6% fib, or whether we would actually breakout from here and begin creating new higher highs. Unfortunately for the bulls, we...
EURUSD Huge sell off today after ECB news slashing projected growth forecasts from 1.7% to 1.1% for 2019. Fundamentally Europe is struggling as an economy with Italy in a technical recession and the remainder of Europe struggling due to China slowing down and the Euro countries being reliant on trade. This all suggests near term growth to be weaker than originally...
I sold USDCHF from 9980. USDCHF correlates well with GOLD since Switzerland has 25% of it's reserves made up of Gold. If Gold is down in value, USDCHF will go up. Since Gold has bounced from the 1260 area and I think it will come back up, I see USDCHF heading down to 98.
This chart proves how powerful technicals really are. As you can see, NZDUSD has repeatedly touched this level time and time again followed by a bounce. The pair seems caught between approx. 68 and 75 - 700pip range. Therefore, now would be a great time to go long.
Although Canadian numbers came in VERY weak, oil prevented USDCAD from flying up to the moon and kept it contained. OPEC has agreed to a smaller than expected production boost, estimated 1m combined per day output increase. Technicals are pointing towards a minor correction, whether USDCAD will then continue up remains to be seen. 1.3383 is the latest high wick,...
USDCAD has been on a rampage and strongly bullish for some time now. It struggled with 1.3040 after multiple attempts, but since breaking it, it has shot up! As everyone hopefully knows in the FX world, nothing can go up forever...Although the overall trend looks bullish, I would be looking to short this market for a correction down. Potential retest of around 1.30ish
USD CAD looks great on every timeframe except the weekly...Looks like we could be inside of a falling wedge. 1.30 has proven to be strong resistance many times in the past, the weekly close candle looks like a hanging man. Crude oil dropped big on Friday, if we get a bounce in oil, this may drive UCAD down...
Details on the chart, looks interesting...
Short to 1306, rejected trend line which has been in place since 2018. Last time it rejected this trend line in September 2017, it dropped from 1355 to 1250. Last time before that was July 2016, where it went from 1375 down to 1125!! Look at the chart. RSI High, could be higher. If Gold breaks this CTL I predict 1355 up, next stop up would be 1375..Short for now,...
DXY has hit .618 Fib level and is oversold on MACD and at around 40 on the RSI.... Who knows what will happen??
Looking at the weekly chart, EUR/USD is currently hitting some strong resistance. It is tapping previous support from 2010 & 2012. The last time it was above 1.22 was the end of 2014. It been in a downtrend on the weekly timeframe since hitting highs of 1.60 in 2008 and has been unable to get out of since, that was 10 years ago......... I do believe there could be...
RSI Oversold, MACD Oversold. On strong support 0.382 Fib plus previous resistance now turned support. Looking for buys up to .9850