nick.trader4

nick.trader4

Gold has been on a tear breaking a lot of zones on the way up very quickly. It could continue up a bit further after a pull back to fill the wicks because when price is in momentum wicks will always get filled. Lots of news this week for USD including NFP report so that will determine the more long term trend direction.

nick.trader4

GBP fundamentals Thursday and NFP Friday.. should be a wild week for GJ but lets see how it respects these zones. 144 looks like a good demand zone and we know that GJ loves whole numbers.

nick.trader4

Lots of news and fundamentals this week but I can see USD continuing to fall and get the find buyers in one of the 2 daily demand zones. Depending on NFP results we may see further downside if numbers dissapoint.

nick.trader4 Updated 

Gold has been rising a lot due to weaker USD and scandals involving the Trump family (again). It broke through the resistance zones at 1240 and 1250. Looking for a retest of those zones to buy again seems like a good plan, the 1250 zone has a lot of confluences that would support a buy position. The fed has a meeting mid week and though it seems clear now that...

nick.trader4

GBP JPY has been falling as USD has been falling (GU up x UJ down = GJ Down). It rejected a major monthly/weekly zone with a double top pattern and shattered the previous upward trend line support early last week and has been dropping since. I expect more downside to hit the daily demand zone then maybe consolidate between these 2 major zones plotted until price...

nick.trader4

USD is falling so UJ has dropped the past week and is nearing a supply zone on the daily. I expect some buyers to come into the market and sellers to unload some positions at these prices causing a retracement and a test of the downward trendline. More direction will be determined upon price action with this TL. Keep it simple.

nick.trader4 Updated 

My previous analysis called for USD long last week but this week it looks like we can change from bull to bear after last week price action, economic data and statements made by Fed chair Janet Yellen during two testimonies before congress we can say that we have a weaker dollar for now. Price rejected major resistance at 114.500 early in the week and has been...

nick.trader4 Updated 

Last week the pound broke 1.30 nicely and closed at 1.31 taking it to new 2017 highs. This recent uptrend in cable has brought gbpjpy to a strong daily resistance after a big move on Friday making a higher low and higher high. I expect the resistance zone at 147.750 to be tested and possibly broken if the pounds strength can continue. I wouldn't be looking to go...

nick.trader4 Updated 

Using the previous week analysis on the 4hr timeframe to confluence USDJPY weekly analysis we see that weaker dollar caused by fundamental remarks/issues and bad economic data Gold broke its trend and looks to be starting a run of higher highs and higher lows. This can be confirmed by the inverted head and shoulders pattern better seen on the daily, also a...

nick.trader4 Updated 

After a positive NFP report last friday USD turned up on confirmation of Yellen's previous hawkishness and indication that the economy is progressing. This week it seems like more of the same. We broke through a bearish trendline to expect more upside. We could see a pull back to retest this trendline/support but there seems to be a nice supply zone around the...

nick.trader4 Updated 

Gold has been falling as USD has been gaining strength over the past month or so. We've broken through some major levels with momentum including a strong bullish trendline that has been acting as a support for all of 2017 thus far. It looks as though the next 6 months of this year could be well different than the first 6 months that started 2017. If US economic...

nick.trader4 Updated 

First thing I'm going to be looking at come next week. Will we be confirming a head and shoulders reversal pattern after yesterdays rejection of a strong daily resistance? There is a resistance zone from about 112.425- 112.625 which looks like it will be tested based on the most recent 4hr candle closes. Awaiting P.A in this zone to confirm rejection or...

nick.trader4

Gold has been stuck in this consolidation zone between 1241-1257. A strong upward trendline is starting to intersect with this consolidation zone which would allow gold to take some direction further down or a bounce to start rising in price. Fundamentally USD has been weakening against most currencies and its possible that it could fall further. The heavily...

nick.trader4 Updated 

So far the downtrend has been continuing throughout 2017. This week something caught my eye, this was the closing of a previous unfilled gap and the bounce off a major support at 110.100. This set the first Higher High moving upwards but still remains below the major TL which it just tapped before moving away. The reason for the significance is for the upcoming...

nick.trader4 Updated 

I see USD getting some buying pressure throughout this week.. based on my previous weeks trade idea it is still valid. Last week the FED decided to raise interest rates as expected, also the monetary policy statement given by chairwoman Janet Yellen was viewed by investors as hawkish comments as the FED said that they were still going on with expectations of...

nick.trader4 Updated 

Couple scenarios to consider here depending on the tone and remarks made by Yellen regarding monetary policy. Currently USD has been moving up but the move will only continue if Fed chair Yellen reinforces her comments made 2 weeks ago when they decided to raise rates again and stated they were still on track and serious about another rate hike in 2017 either in...

nick.trader4 Updated 

USD/JPY has still been in a ranging market structure between 111.000-111.800. Since the Fed rate hike a couple weeks ago UJ has found itself stuck between these prices, to me it looks like bullish consolidation based on the trendlines, EMA and double bottom pattern. Although I have a long bias on USD I dont know which way this pair will trade until we hear the...

nick.trader4 Updated 

Based on my previous weeks trade idea on gold which stated a decrease in buying and increase in selling after strong rejection of the 1295 zone causing a trend change. This continued after the FED decided to raise rates as expected and kept their views on a 3rd rate hike this year despite weaker data, this statement was considered hawkish for the USD which...