A hawkish BoJ rate hike amidst a strong UK GDP and Industrial Production figures might propel the Yen to new heights as the Pound looks set to end the following week(s) in the trenches. Technically, with the sight of reversal set-up (triple top look-a-like) at the JY156 zone, It is becoming obvious that the demand zone has lost the momentum to push the price above...
With over 100pips in our direction since my last publication (see link below for reference purposes); we witnessed a successful breakout of the supply zone to set the tone for a potential rally at least in the meantime. It is no news that the USD collapsed against the major pairs during last week trading session, and the catalyst for this scenario is the US...
From the weekly chart, the overall perspective is Bearish despite the uptrend scenario on the daily chart that began on the 2nd of November 2021. The Greenback climbed to over a two-week high prior to the Non-farm payroll report but was struck with a wave of "sells" after the report detailed that the US economy added 199,000 new jobs in December - a feat which was...
We witnessed over a 9,000pips move since my last publication on this pair (see link below for reference purposes) and the present structure reveals that price has continued to find higher lows since it hit bottom at $1,720. The Demand zone around the $1,770 area appears to be getting stronger as it continues to reject the sellers in the last 2 months. It is...
Happy New Year! I welcome you to another new year with an against all odds expectation as I look forward to a Bullish expectation if the price successfully completes the reversal set-up identified on the Daily time frame (despite everyone looking for sell opportunity). Technically, the Euro continues to lurk around respected Demand level with high hopes of...
With over 500pips in our direction since my last publication on this pair (see link below for reference purposes), we might be looking forward to a Bullish momentum in the coming week(s) following the Breakout of the Bearish Trendline during the latter part of last week trading session. It is clear that the Pound went back and forth during the course of last week...
As the Greenback appear to begin on a positive note during the initial hours of the Tokyo session today, the US inflation concerns ahead of this week’s US Consumer Price Index (CPI) is likely to be a major determinant on this pair. However, the strong bearish engulfing candle that thwarted buying momentum on the 29th of Nov 2021, sends a wave of caution as any...
With over 60pips in our direction since my last publication on this pair (see link below for reference purposes), I am expecting that the retracement phase will push into a 50, 61.8 or 78.6% retracement before the trend continuation begins. So, if you are not in the bearish train you still have a minimum of 150pips to catch before the buyers find a good price! ...
We scooped a total of 150pips in our direction since my last publication on this pair (see link below for reference purposes) before the rally began and since the beginning of the new month, it has been a choppy session for this pair. Now, the appearance of a Bearish rectangle at this juncture technically insinuates that the USD/CHF might be set to plunge a little...
Price action has been a little choppy since it broke below key level @ C$1.70500 and the inability of sellers to break below C$1.68000 in the last 48days gives credibility to the Demand zone indicated on the chart. Current market momentum signals are in alignment with a reversal setup in the short term for the Pound in the coming week with eyes focused on a...
It is over 10,000 pips in our direction since my last publication on this pair ( see link below for reference purposes) and it appears the price is at a juncture in the market where a correction phase is anticipated. Right now traders will need to see what happens over the next couple of weeks before having a strong conviction on the yellow metal and this...
The British pound initially tried to rally during the course of the week but turned around to show signs of weakness especially with the formation of an inverted hammer (a bearish trading candle that may indicate that price has reached its peak) on Wednesday. However, zooming out to the larger perspective on daily and weekly time frame, I have observed that price...
Since my last publication on this pair, we witnessed a surge of 170pips in our direction before the bears eventually came in (see link below for reference purposes). Despite the heightened risk of a more disruptive Brexit outcome from the ongoing EU-UK tensions over the Northern Ireland protocol and contrary to expectations of the majority, I do have an...
The Swiss have been Bullish in the last 8 weeks and I suspect a temporary correction is evolving with anticipation of a rally continuation in the coming week(s). Therefore, we shall be looking for the completion of the reversal pattern sighted on the Daily chart to take advantage of a counter-trend opportunity this new week. Tendency: Downtrend (Bearish) ...
In the wake of a stronger than expected US labour market report for October 2021, the Euro appear to be taking a bounce from fresh annual lows under $1.1520. Despite citing a Double Top pattern with a successful Breakdown of Neckline confirming a reversal pattern, I am looking forward to taking a "quick" countertrend in the coming week with my eyes still on the...
We experienced close to 100pips move in our direction following my last speculation on this pair (see link below for reference purposes) and a Breakdown of Demand structure (a level that held price "supported" throughout last month) early in the month of November 2021 insinuates that the Kiwi might witness a risk of further decline in the coming week(s). From a...
The US dollar appears to have regained bullish traction as we witnessed a bounce back and forth before the price finally broke out of the Key level @ Y130.800 to reveal buyers strength at this juncture in the market. As we all have noticed that the Yen is being sold off against almost every major pair in recent time, and following Higher US bond yields and...
We witnessed a 1,000pips run in our direction since my last publication on this pair (see link below for reference purpose) and the confirmation of reversal set-up at the Breakout of Neckline (CNY 6.39500) during last week trading session is the final straw that broke the camel's back for me. Higher US bond yields and hawkish Fed expectations shine the light of...