Quick short trade- buy USDCAD after finding support at Fibonacci resistance line (see chart); oversold status on RSI and a bullish Harami candle pattern forming on 4 hourly charts
Fundamentals:- Although there was some weak data from the US last week as a whole the economy is still on the upside. Non Farm payrole figures came in better than expected whilst unemployment creeped back up t 4% from 3.8%. Average hourly earnings also dropped from 0.3% to 0.2%. Over the long term I don't expect this to hold the USD down for any length of time. ...
Fundamentals:- The RBA will be making there rate announcement next week which is not expected to change. There is concern over the levels of consumer debt at the moment and lagging GDP. I expect the AUD to weaken against the stronger USD next week especially after the stela NON Farm Payrole figures on Friday.
Technicals:- There is an nice area of confluence...
Fundamentals:- We had a crack at this one last week but it ended up just consolidating. This week we are looking to the NZ financial stability report and the NFP to bring in some much needed volatility to get this currency pair moving. Looking at the macro prudential tools that the RBNZ use to base there report I can see that the economy is static or drifting off...
Fundamentals:- After yesterdays week CPI reading from the UK we can expect the GBP to weaken further against the USD. A rate hike from the US is likely sooner rather than later and although the dollar is still quite high we can expect strength until the rate hike happens.
Technicals:- there is a good support come resistance level at 13393 - 13400 where I would...
Fundamentals:- We have retail sales out from NZD tonight at 11:45pm so the markets will just be open in time. Depending on the figure will depend on where we enter this trade it might be that the market even opens lower than it closed in anticipation of the data. Expecting the USD to continue strengthening into the week next week certainly against the weaker...
Fundamentals:- After the CPI readings from Canada last week I am expecting a continuation of this turn around. As the currency is commodity linked to WTI crude, which was the main driver in strength for the Canadian dollar last week, The WTI price seems to be lacking any more upward drive. Also the US is still expected to raise rates further as the average hourly...
Fundamentals:- We had quite a turmoil last week with the trade war possibilities and then at the weekend with the strikes on Syria. I was up in arms about what to trade this week when I realised the Retail sales figures for the US on Monday are expected to come in much better than previous. Not only that but the strikes on Syria are supposed to be a single message...
Fundamentals:-
As posted in the last trade signal we expected the GBP/USD to sell off. Due to Brexit pressures and the US moving further away from a trade war it is likely we could see a further sell off in this currency pair.
Technicals:-
As you can see from the Chart I have put a fibonnaci retracement on the recent downturn which give a 50% pull back at 14150....
