GBPNZD is about to break above the clear downtrend resistance. CCI falling back into the channel. Fundamentals in line with price as China miss in imports likely to affect NZ exports.
Bouncing up from support, and with the added signal delivered by a breakout from downward sloping resistance, I believe we are looking at a rebound along with many other commodity currencies such as AUD.
Declining resistance, Area of supply, 100 day MA CCI channel 9 straight days of gains in a falling commodity prices environment? the fundamentals just don't support the price right now.
With pin bars off the Bollinger band and CCI falling back into the channel, plus MACD crossover, I think we could be looking at a corrective rebound here. After the strongest currency move of 2015, it probably needs a rest. I would say the bad data should give the price a second thought for another leg down.
You can be sure that there will be a fall back to the support line. CCI seems to back this up and a drop off the top Bollinger band line makes it clear to me me.
As you can see by my chart, every time the price has hit the top of the linear regression, and 0.04 on the MACD, the price has reversed back down again with the CCI, DeMarker and Stoch RSI gradually falling back into their respective channels. Without consideration of any further shocks to the market, I think that political instability, the conflict in the south...
As Swiss franc is exposed to events in Europe (high correlation to EUR) plus negative interest rate that will likely increase, ie becoming more expensive to store funds in CHF, Swiss banks will likely become less and less of a safe haven as other currencies become more attractive or even perhaps Gold. Also, don't forget with new tax and bank secrecy laws,...
Breaking below the trend plus MACD says downwards momentum increasing after crossover.
With the employment data out tonight, entering a sell trade with the stop above 0.81 - 0.82, is a good risk/reward opportunity. The fundamental reality is that the US economy is growing leading to higher rates, while the Australian economy is slowing with the RBA trying to lower the exchange rate. On the technical side we have a MACD crossover and a bounce off...
The DMI gives us a good indication of the type of building downward momentum we are looking at which is pretty much the mirror of what happened in December with the DMX rising above the positive line. Here we have it rising above the negative line. With the support breached, there are new price dynamics in play and so I would say the next target is 1.16 which is...
USD CAD back on its way down? We can see a clear fall below the upward rebound trend line meaning that the USDCAD could be back on course. Of course 1 hour chart isn't enough to give us an answer clearly, but the technical indicators all show a return back in to the channel.
MacD falling below as well as CCI back in to the Channel. Sell signal as clear as you can get.
We can see here, that the price is jumping off the bottom of both the linear regression, the BBand and strong support at about 1.93453. This to me is a clear retrace and reverse signal. From my analysis of fundamental analysis, the GBP is way over sold, and the political instability will not continue for too much longer. The one head wind this pair faces in the...
A break below the current solid support would set you up for a very good long term trade. Sell and walk away for a month. A break above and the high swap works against you but still you could hold it for a few days above the resistance line. Consolidation is confirmed by both Bollinger bands and MACD.
Top of Linear Regression. Falling from upper Bollinger Band. 100 day moving average flat. MACD shows tangent MA lines. CCI falling from overbought
It might help to view it on a chart, but we can see that the Australian Dollar is overvalued (also by the technical indicator CCI) relative to the price of Iron ore which it has generally oscillated around in the past. A drop down to 0.70 should be expected according to most analysts and the RBA.
The market is going through a period of volatility due to upcoming interest rate rises. Traders should see this volatility as a profitable opportunity. The risk/reward is great. The market sentiment is the same now as it peaked the last time in January, and a reduced, but still relevant correlation to the chart topping action in December. From a long term point of...