Bullish in this pair. Read comments on chart. Follow me at www.facebook.com
Currently short on the daily & 4hr charts. - Big news will impact trades - Long (weekly) trades will probably be safer. - Monthly fib - Downward trendline that has been tested 1 strong time so far. - Daily/Weekly long term trade. - Similar to the price action of USD/JPY that we profited from recently.
Morning traders, interesting down move by the USD as it has pushed below recent lows and is headed for the most recent lower high. A close below that would confirm further downside to the high low at 11840 Stops at the last high 11990. Of course a failure to close below the last higher low does open a buying opportunity as we see the RSI headed for oversold...
I've marked in red and green arrows where this range (purple dotted lines) has acted as resistance or support, it's clear that the purple range is a key level for determining if the Dollar will be bullish or bearish as sustained breakouts often occur within this range. With farm roles lower (as expected) we have a strange scenario where by the Dollar, Gold, Oil...
Price action has double topped at the trend line and broken the 61.80% fib line. A new lower high has also been formed. This suggests bearish price action ahead. A suggested entry would be on a failed re-test of the trend line.
$EURUSD Greenback will be shooting stars. Yuu can forget about the weak dollar and be careful about the currency devaluations against dollar. As you can clearly see from the chart EUR is about to get smashed by dollar. It is moving down nicely in a channel. So far, the indicators are confirming the down trend. 1.17 is acting as a strong resistance. I am initially...
My first forex is GBPJPY, but, it is going up and i miss it.. So during waiting GJ. I am scout new forex and found this USDCAD. Maybe it will make the 1-2nd wave and going up to 3rd wave. My plan: IF it not Lower low than 1.26253, I am waiting to break Trend line and BUY. After break 1.275, I will put another BUY. Plan B: If it going down , Let it be....
A weekly close above key monthly resistance last Friday above 0.7550 gives us projections of upside potential to weekly resistance at 0.7780. Statement is supported by Fibo extension level 161.8%, a weekly break and close of monthly resistance @ 0.7550 , bullish engulfing candle pattern. We are waiting for further price action.... a retest/consildation around ...
- Fundamental Analysis This week, Canada should play a main actor on the FX stage with plenty of economic data. - Canada GDP - RBC Manufacturing PMI - BOC Meeting - Canada Employement report I think those are last pieces of Canada in this financial year; after this week, BOC members would shut down their computers and book the ticket for Chirstmas...
King dollar could return below it's 8 yearEMA until 2020! $UUP "UDN $DX_F $USDX $USDOLLAR
In 8 hours we will witness the perhaps most anticipated news event in Forex of 2015 so far. The FED will communicate their rate decision, accompanied by a written statement, economic projections and a press conference. The Dollar is fundamentally the strongest currency due to the expectation of a rate hike this year. This sets it apart from currencies like the...
Looking at the monthly chart for the aussie, there is a bullish trend line that the market has bounced off of historically. Also the current price is resting on the 38.2% fibo. A bounce would not only be off the fibo but also off the bull trend and looking at the chart, when the aussie bounces it bounces hard.
The Euro is sitting at key a key resistance level which it has bounced off of many times since the beginning of summer. There are two things right now that will decide where the market goes. The first is if the greenback can hold at the support line it has bounced off before. A holding of this level would suggest that the market still has confidence in the dollar....
Dollar is king, and is approaching a very strong support long. It is likely it will bounce off support here especially since the FED hike isn't suspected to come for a few months.
It is impossible for the dollar to keep climbing even if it is king. Eventually the dollar index with change tides, and when this happens smart money will already be long gone. The fall to bull blocks will be drastic. This is a time when you will be wanting to keep a VERY close eye on USD cross pairs. I know I will be watching cable and fiber for any sign of a breakout.
We reach to Super Thursday with all market attention on Bank of England Meeting. In Bristish Pound Super Thursday : - BOE Inflation Report. - BOE Press Conference - BOE Mark Carney Speech - BOE Interest rate decision. What does market expect ?. - Consensus hope there are at least two member of BOE vote for rate hike. - How to BOE deals with low inflation in...
Next week, no major US economic data, market shifts attetion to other currencies: - Australia CPI - RBNZ Meeting - BOE Meeting Lack of data , risk appetite will play the key role in driving the greenback. Like I said in the recent topic,USDollat met resistance at 97.72. I wait for the breakout, and indeed USDollar pierced the resistance. We have enough...