VantageFX

VantageFX

Today were going to have a look at the NZDUSD weekly chart. We can see that for close to 2 years price has been ranging in between our areas of support and resistance, or you could say it's a rectangle pattern. However you like to call it, we're seeing a long term consolidation of price between the upper and lower boundaries. As price is currently at our support...

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Price is bouncing nicely off major support at 112.04 (Fibonacci retracement, Fibonacci extension, horizontal overlap support area) and we expect to see a strong push up to at least 113.11 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance). Stochastic (55,3,1) is seeing major support above 4.8% and we expect a strong bounce...

VantageFX

Price is now testing major support at 1.3323 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and we expect to see a strong push up from this level towards 1.3460 resistance (Fibonacci retracement, horizontal swing high resistance). Stop loss is placed at the overlap support and slightly below a fibonacci retracement to protect our position.

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We're seeing a nice reversal below our selling area (overlap resistance, 76.4% fibonacci retracement) and we expect to see a strong drop from this level. Keep a look out for this trade!

VantageFX Updated 

We're seeing some nice support with a swing low support and fibonacci extension (61.8%) profit target coinciding with this level. Keeping a low risk and high reward setup, we'll play the bounce from here and hope all turns out well!

VantageFX

AUDJPY looks like it is lining up nicely for a short! Keep a look out for this guys!

VantageFX

We're seeing some nice resistance on NZDUSD, lines up well with our fibonacci retracement and extensions along with a horizontal swing high resistance. Definitely worth looking to sell from here.

VantageFX

AUDUSD is seeing clear support where it is now (76.4% Fib retracement and 61.8% Fib retracement) along with a nice overlap support. Would be a good idea to use this as an entry and play up to TP.

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Over on the Vantage FX News Centre, we recently wrote a Technical Analysis blog post looking at major trend line support across indices . Once this level goes, expect stops to start getting triggered and things to get messy quickly.

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Leading into the Australian employment data , we have to take a look at the AUD/USD chart. Just keep in mind the big picture with our old friend the weekly trend line support is still in play. But it’s the hourly that I wanted to focus on today, with price forming a short term bullish channel following the pair’s solid beat down that it has experienced all of...

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I’ve read a few headlines and market notes highlighting last night’s bounce in the price of oil and whether this could signal some sort of bottom. Today’s chart of the day takes a look at a few charts and what market sentiment could mean for Commodity traders heading forward. First of all we take a look at the 4 hour chart, showing yesterday’s reportedly strong...

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After constantly referring back to this AUD/USD technical analysis post in the Vantage FX News Centre, we are publishing this chart here for future reference.

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Oil prices seeped to their lowest level in over 6 years, breaking swing lows as oversupply was confirmed as not being abated any time soon. OPEC meetings ended with no resolution on production cuts and lacked any reference to output ceilings which was the big kicker in sending Oil to new lows. The CAD fell 1.2%, sending USD/CAD spurting higher to its highest...

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With a still packed USD sensitive economic calendar tonight featuring a hugely anticipated NFP release, lets just say that things may get a lot worse for squeezed Euro shorts before they get better… With EUR/USD still really in no-man’s land on the daily chart, I have thrown on the fibs to try and give us some possible areas of logical selling. I have marked...

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The daily highlights the overall bearish trend that EUR/USD is in, with the last few weeks undoing 8 months of bullish traction very quickly. This is a perfect example of why going with the higher time frame trend is most often the smarter play. “It is easier to swim with the tide than against it.” It’s so cliché but you really can’t argue with that chart. Now...

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As we spoked about on the Vantage FX Daily Market Update , Forex markets are seeing the US Dollar squeeze. You look at what’s priced in already and any technical USD weakness is going to be sold in the short term as big longs start to take off some of their size. This squeeze was highlighted no better than in yesterday’s USD/JPY price action, as price pushed...

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Trading the Canadian Election ? After printing 9 days without a single bearish candle and going on the pair’s longest bullish streak in 4 years, it all seems to have come undone for USD/CAD. Last week, price on the Loonie pulled back to re-test previous resistance now as possible support. It’s a very clean level and if momentum stalls, could offer a chance to...

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An idea we've been discussing on the Vantage FX News Centre . As long as AUD/USD stays tucked back above the weekly trend line then I favour playing from the long side. This hourly zone looks a nice little confluence of support where buyers will surely be lurking.