Clear double top on H4
Aussie is seen strengthening near to midterm and a fall in the DXY will push Aussie higher. Aussie has been oversold for many months now so a short squeeze could shoot the Aussie up quite a bit.
GBPUSD is at a previous resistance and is also being met with the Daily 100MAV. The pound risks a reversal at these prices but stops MUST BE KEPT TIGHT because if the upper resistance is broken, stops will be cleared and Cable will rally beyond 1.32xx
Quite clear inverse H&S pattern forming here. Best R/R is to go take longs especially if look at the Daily and Weekly timeframes. Heavily oversold and CHF futures are somewhat stretched and primed to be sold off any time now. I'll be looking to add to my long positions on this pair.
Two possibilities here on the larger timeframe for this pair. With SNB and FOMC on tap, we'll have a clearer picture for the next major direction on this pair. Until then, stick with lower time frames and keep stop losses tight.
DXY has been under pressure with support nearby at 94.42 however we could see a triple bottom on this pair in the region highlighted below. Long positions to be taken with caution with US Retail data on tap tomorrow.
The price needs to break the neckline (as indicated in the markup). Once that neckline is broken, we should see a nice move up. Keep in mind that once the neckline is broken, the move up will be fast due to short covering.
We have a few things here to address.
Firstly, we have a bullish RSI divergence.
Second, the downtrend line from $1265 was broken with today's close.
Lastly, with risk aversion on everyone's mind and Trump looking at possibly selling the dollar (we all know he doesn't want a strong dollar), gold be looking to move up.
One last thing: In 13 out of the last 17...
RBNZ's dovish tone led to the Kiwi's selloff however all data has been quite on par from New Zealand. The selloff was overdone, RSI is extremely oversold, and as can be seen from the markup, NZDUSD should move back up over the coming days.