I was checking out USD/CAD amongst the several pairs on my watch list, and it looks like a decent opportunity to short. Support from October is @ 1.30036
NZD has been reluctant to move lower but it might finally be ready if we get confirmation here
The details:
short below ascending trend line
stops above recent highs
target lows of 0.6970 area and ultimately 6740 area
Here we have Tarzan's gold / silver ratio indicator.
There is only one input parameter, which is the simple moving average length of the ratio calculation which ranges from 1 to n.
Every fiat currency in the world has eventually gone bankrupt.
Gold = the last man left standing.
Peace.
Tarzan
Similar to CADJPY, NZDJPY reached resistance level. This level coincides with Fibonacci level which determines the likely end points of retracements. As you can see, since mid-2015 NJ has been in a downward trend and recent increase represents the retracement which is likely to be over (reached resistance and 50% Fib level).
As argued in previous post for CADJPY,...
CADJPY hitting resistance, tested unsuccessfully (could test again, watch out)
Technicals: Fibonacci Level, structure and over-bought RSI suggest short
Fundamentals: CAD gaining recently due to higher OIL prices (how long will that continue?), JPY's recent rapid depreciation (since Trump won elections) can generate capital outflows, so I believe JPY should be...
CADCHF reached a very important level!
Pair currenctly hitting support line valid from 2010
Blue line shows important structure, quadriple top formation since mid-2016
Likely to go down, might be good short, but careful, OIL has been in an upward trend for the previous days, thus CAD increasing in the short term
Wait for confirmation, if support broken, could be a...
Follow up on my idea about weak GBP in the last month of 2016:
Major GBP pairs (GBP/JPY, GBP/CAD, GBP/NZD, GBP/USD) all experienced decline on Monday, 28 Nov, with most of them hitting resistance levels which are too strong to be broken despite the major GBP increase throughout November. With UK appealing against the court decision on Brexit, GBP could see drop...
GBPJPY SHORT:
Two strong resistance levels
Fib Level aligning with resistance = very difficult level for bears
RSI VERY VERY OVERBOUGHT
MACD also reaching end of bullish trend
However, if pair closes above 143 in the next few days, I would consider it as a clear break and will look for LONG
Good luck
Year and a half old support line
'Curve' structure from June 2013 never been violated yet
Daily close above 0.7 Fib Level (start from June 2013)
RSI and MACD bullish
New Zealand economy healthy as main macro indicators show!
Canadian dollar might struggle given uncertainty around OIL prices (OIL broke important support last week)
*WILL GO DOWN TILL THE area of 106.50 AS* The market over buy wait till break back down and go short then turn all way up
*WILL GO long TILL THE area of 116 if its break the level of 110
The change AUD/CAD has broken up with force a major long-term dynamic support.
Follow the market carefully in the 1,0100/1,01500 area, because a short signal could provide optimal entry for sales.
