WaveRidr

WaveRidr Updated 

Seven of our nine trades last month were short positions the Aussie or Kiwi, and those established downtrends have carried over into this week’s trade. After a big breakdown in AUD/USD last week, we’re going back to the well with another short setup in AUD/USD. We’ve recently described AUD/USD as the “cleanest trend in the FX market,” with a well-defined bearish...

WaveRidr Updated 

After a frustrating stalemate between bulls and bears over the last couple of months, it looks the bovine contingent is finally taking control of EUR/AUD. From mid-June through last week, the cross spent more than two months consolidating in the 300-pip range between about 1.5600 and 1.5900. Rates exploded higher last week, surging from the bottom of that range...

WaveRidr Updated 

We're short GBP/CAD following a break of Thursday’s low. GBP is the weakest major this month and CAD is the second strongest, making GBP/CAD a desirable pair to short. The daily chart shows price action has been trading within a tight bearish channel since the June high. Furthermore, the channel is accelerating away from a longer-term trendline to show bearish...

WaveRidr Updated 

NZD/CHF is breaking lower in line with dominant momentum. The kiwi remains the weakest currency this quarter whilst RBNZ continue to send dovish signals to markets. As the Swiss franc is the second strongest major this quarter due to haven demand, we see potential for NZD/CHF to trade lower from current levels. We can see on the daily chart that NZD/CHF has been...

WaveRidr

We last bought this in October for 920 to say we got out too early is an understatement. Since then we have been waiting to get back in and never had the opportunity, the current pullback looks pretty good:- unfolding in 3 clear waves against a recent new high. Divergence at the blue (3) top adds to the case suggesting that the move higher had lost momentum...

WaveRidr

CAD has been lagging its two brothers the AUD and the NZD but that will not continue indefinitely. Where two go the third will always follow, we are in the midst of a significant move, indices up, commodities up and dollar down. These headwinds should blow the CAD higher. This opportunity is quite good, we have a nice 3 wave pullback and will be looking to buy...

WaveRidr

This is the daily chart and it explains why we really want to buy here, since September last year the pair has been in a meandering correction that was completed last week when a new high was registered. The new move higher counts as a 5 wave advance suggestion an impulsive nature to it, the pink wave count will change as the structure unfolds but most likely...

WaveRidr

The pullback from the blue wave 1 high is unfolding in three waves. The pink wave x was really close to a new high and as a result calling the end of the correction is more difficult. 1330 would be our usual entry point but that would mean the wave down from pink x would have to truncate. The pullback from wave x suggests 1327, normally RSI would tell us...

WaveRidr

This pair and its highly correlated cousins (GBPAUD, EURNZD, GBPNZD) were very profitable towards the end of last year, since then they have been pulling back but the bullish sequence remains intact on the 4 hour and daily time frames. The target area was not reached in any of the pairs suggesting either one more push or they truncated and the move is over. It...

WaveRidr

This is not an ideal pattern, the treding is clearly bullish and for many months we have been both looking to trade this one and buying it. The current pullback appears to be the start of a C wave higher, if so it will unfold in 5 waves matching the A leg. However the buying area goes beyond the invalidation line for their particular wave count. A break of the...

WaveRidr

the daily shows the stong upward trend that the Euro has been following for a number of months and has been used to generate the target. The Hourly shows the clear three wave pullback we are looking to trade, the Fib coincides with the trend line so i may decide to wait for the trendline to be tested before buying. Fundamentals for the euro remain really strong...

WaveRidr

Long AUDUSD, we are bullish commodities and hence by default are bullish commodity currencies. The AUDUSD recently made a new high confirming the bullish sequence. The pair may not make it to our buying area as an improtant trend line lies in the way however the trade does meet all of our criteria and would be a near classic plummer wave pullback.

WaveRidr

Look at that price action! Should of dropped hours ago. Asian should drag it down

WaveRidr

Greenlines being broken shows me a break of structure. Trade the pullback. Weekly charts also match up. NZDUSD also an option but sticking with the ozzie

WaveRidr

EURUSD - Mark out the 1.1820 level. Its the monthly open. Its proving a strong resistance. a clean break of it it and we will see 1.20 Monthly/Weekly opens are an excellent source of entry's/buying and selling zones. I have them marked out on every major pair

WaveRidr

Inline with my bearish £ outlook

WaveRidr

Nikkei EURJPY turning lower. Gold will bounce off 1280. High Risk, double bottom, extended 3rd leg. Entry will be key

WaveRidr

GBPJPY - Will either rise a break the previous highs then drop or play the weekend rise. Where it will rise above the opening.. consolidate. If this happens we won't wait and short it during the Asia session