GBP Strenght due to positive negotiation with EUROZONE on Brexit Bill
Weak NZD data & no significant news update and dovish RBNZ policy
Pair broke significant weekly resistance
Stop below the weekly, support
Gold is inversely correlated to USD.
Weakness in USD data negatively impacting USD
Dovish Statement from Fed Yellen
Only buy if Gold stays in the upwards channel
Look for BULLISH PIN BAR price action to trigger entry
Postive outcome of Brexit Negotiation between EUROZONE & UK strengthen GBP
Strong UK data till now, however watch for BOE Carney speech
Continue uptrend channel with Bullish Pin bar formed at the support level
Use limit order to enter to obtain better price
CAD is having short-term weakness due to slow NAFTA progress
Weak economic data gives CAD weakness despite the BOC tightening
Range break, will be retest, take opportunity of spike result from BOC Poloz speech to hit the sell limit
D1 trend is on a downward channel.
AUD currently holding rate at 1.5%,
RBA is quite dovish
No strong data from AUD economics recently
JPY, on the other, hand have strong funding currency effect and safe heaven effect
Decent economic data from JPY has been positive.
AUDJPY broke strong trendline on both weekly and daily chart
AUDJPY also broke down support level
GBP - Strong pressure from Brexit. Recent rate hike worsens GBP due to economic data is not as healthy as it should be.
JPY - Safe heaven factor strengthen JPY.
Strong rejection around 151.40-152.00. Pin bar formed on both Weekly and Daily chart
Wait for support to break 147.15 for entry short.
USD: Tax reform progressing, December rate hike is imminent.
CAD: Dovish BOC on monitory policy. No rate hike planned. Oil price starts to show exhaustion.
USDCAD keep forming healthy HH & HL sequence, this only the 2nd wave, within the channel. However look for price to break 1.2783 will be great entry, TP1 is very healthy at 2.3R.
Trade Idea to short EURUSD based on:
1. Bearish bias to EUR currency due to delay in EUR QE program. Dovish statement form ECB
2. Bullish bias towards USD due to Tax Reform is shaping up positive, high possibility of another rate hike in Dec 2017. Now is already past mid of November