The Kiwi (NZD/USD) is rising towards a pullback resistance and could potentially reverse off this level to drop towards our take-profit target. Entry: 0.60904 Why we like it: There is a pullback resistance that aligns with the 38.2% Fibonacci retracement level Stop Loss: 0.61576 Why we like it: There is a pullback resistance that aligns close to the 38.2%...
As US economic data continues to come in above expectations and Fed chatter pushes back on imminent rate hikes, we see the yield premium that US Treasury’s hold over German debt blowing out. For example, the yield premium to hold US2yr Treasuries over 2yr German bonds has pushed to 185bp (or 1.85%), having been at 154bp in mid-Jan. This is putting a bid into the...
The downside break of the 1.2800 to 1.2600 range the pair has held since 14 Dec has been well traded by clients. Looking at the current skew in open interest, traders see a higher risk of a move back to the breakout point, with 71% of open positions currently held long. I see the risk of modest short covering through late Asia but would take the timeframe in and...
– Monday Daily candle closed Bearish respecting Daily Resistance formed on Friday 2nd February around 2055s. I’ll be looking for potential Buys above 2029.700 targeting recent 1h Resistance (2038.100) and previous Weekly Support formed last month January at (2045.500). I’ll be looking for potential Sells below 2016.100 targeting recent 4h Support (2009.100)...
– Tuesday Daily candle closed Bearish below recent Daily Support formed Thursday 1st February and forming Daily Resistance at 187.080. I’ll be looking for potential Buys above 186.600 targeting recent 30min Resistance (186.970) and 1h Resistance (187.400). I’ll be looking for potential Sells below 186.140 targeting two recent 4h Supports at (185.650) and...
The Japanese yen may have weakened following the BOJ’s latest ‘non decision’ regarding monetary policy, but markets clearly weren’t surprised enough for it to extend its bearish moves today. Not a single xxx/JPY pair managed to break above its cycle highs, and momentum is now turning lower on these pairs to show a strengthening of the yen. But what has caught...
AUD/USD fell from the late-December high to mid-January low in a fairly straight line, so it is no surprise to see prices have consolidated. However, the consolidation cannot last forever so we're looking for its next directional. Given the Aussie has failed to rally despite 'good news' from China, perhaps a spell of bad news could send it lower. That, or a...
My dear subscribers, USDJPY looks like it will make a good move, and here are the details: The market is trading on 148.42 pivot level. Bias - Bearish My Stop Loss - 149.37 Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation. Target - 146.67 About Used Indicators: The average true range ATR plays an important...
My dear friends, My technical analysis for USDJPY is below: The market is trading on 146.65 pivot level. Bias - Bullish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation. Target - 148.64 Recommended Stop Loss - 145.57 About Used Indicators: A pivot point is a technical analysis indicator, or calculations,...
My dear subscribers, GOLD looks like it will make a good move, and here are the details: The market is trading on 2042.2 pivot level. Bias - Bearish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation. Target - 2027.2 About Used Indicators: The average true range ATR plays an important role in 'Supertrend' as...
My dear friends, Please, find my technical outlook for NZDCHF below: The price is coiling around a solid key level - 0.5255 Bias - Bullish Technical Indicators: Pivot Points Low anticipates a potential price reversal. Super trend shows a clear buy, giving a perfect indicators' convergence. Goal - 0.5279 About Used Indicators: The pivot point itself is...
Feb 5th DXY: Push up towards 104.25 resistance before retracing down within range of 103.70 and 140.25. If it breaks resistance and trendline, could head up to 104.85 NZDUSD: Sell 0.6080 SL 20 TP 40 AUDUSD: Buy 0.6535 SL 20 TP 50 USDJPY: Buy 148.70 SL 30 TP 100 GBPUSD: Sell 1.26 SL 20 TP 40 EURUSD: Consolidating, look to test 1.0745 reject, Buy 1.0760 SL...
Hi Traders! A head-and-shoulders pattern is forming on the AUDUSD 1D chart. Here are the details: The market has found strong support at the 0.65255 level, which is the neckline. The right shoulder is currently forming, and we expect some consolidation around this level before a possible break and close below the neckline. The plan here is to monitor both the...
USD/JPY is trading close to a pullback support and could potentially bounce off this level to rise towards our take-profit target. Entry: 148.165 Why we like it: There is a pullback support that aligns with the 23.6% Fibonacci retracement level Stop Loss: 147.252 Why we like it: There is a pullback support that aligns close to the 50.0% Fibonacci retracement...
– Previous Weekly candle closed Bullish rejecting 2 recent Weekly Resistances (2049s) and (2063s) and forming new Weekly Support just below 2020s, Friday Daily candle closed Bearish forming Resistance at 2055s. – One thing I find interesting on Daily timeframe is how Friday daily candle tapped into previous Daily Resistance held around 2030s then rejected and...
– Previous Weekly candle closed weak Bearish forming weak Weekly Resistance leaving over 210 pip rejection wick to the downside as Daily candle for Friday closes Bullish. I’ll be looking for potential Buys above 187.860 to retest recent Weekly Resistance (188.150) and 1h Resistance (188.450). I’ll be looking for potential Sells below 186.950 targeting recent 1h...
My dear subscribers, My technical analysis for QQQ is below: The price is coiling around a solid key level - 429.15 Bias - Bearish Technical Indicators: Pivot Points High anticipates a potential price reversal. Super trend shows a clear sell, giving a perfect indicators' convergence. Goal - 411.10 My Stop Loss - 437.47 About Used Indicators: By the very...
1h - The hourly timeframe continues to be in a short context, with a clear target in the form of equal lows. I plan to work on the continuation of the short context on Monday. Conclusions: Ahead is a busy week, not only in terms of determining the global context but also with significant importance attributed to news. Thanks to them, we will be able to see...