The USD/JPY is currently in a weak symmetrical triangle pattern, this is also coincidentally where the 25 MA and the 13 MA look like they will be crossing over in the near future (I would moreover say 13 MA crossing above the 25 MA, indicating a bullish play). Also, the Coppock curve is positive, but is slowly reaching prior resistance, so this could mean a...
Hey tradomaniacs, what a HUUUUGE rate hike in turkey today. WOW! We see that this rate hike obviously increased the value of TRY causing a sell-off today. But what does that mean? We were breaking out of a triangle which is actually a trend-continuation-pattern. Yeah... News like that can destroy every pattern and its rules. BUT what will happen? Well,...
Here's another confirmation about our last idea Of course this time my guidance is a dollar appetite for this month and next with the FED decision to hike interest rate, but here's the deal: buy dollars or keep it till November 22nd where dollar should hit and maybe smash 96.32 - 97.84 level, Then close all your long positions 'cause this hike should happen...
Based on my analysis of the pair's movements this year, I'd expect the pair to have a chance to reverse and continue working through its current channel down to about the 107 mark. However, this analysis is simply based on its current pattern which I predict it will break out from in the long-term due to discrepancies between the Fed and BoJ's macro-scale views.
We took a short on USDJPY before NFP on friday in our trading room, however I think the NFP move is not a good indicator of the bigger picture. This is a swing trade.
Buy limit order at 1.29484, SL 1,28600 TP 1.32500 RISK REWARD 1 TO 3. IMPOSSIBLE TO SEE
Dollar pushing up, BOJ could show helicopter, but speculation from big bosses is bigger than for interest rate decission from FED.
BOE view broadly consistent with expectations, a neutral no action. Interestingly and somewhat confusing though was their "If Nov Outlook Broadly Consistent With Aug, Majority Of MPC Expect Further Rate Cut" comment which I am not sure about i.e. Aug data was firm so assuming this continues the BOE will still cut? But either way, looking at their last cut and QE...
b]GBPAUD: 1. Sterlingaussie has been aggressively bid higher for the last 7-days on the back of sterling data outperforming last week, broad aussie weakness and a general recovery from lows. 2. Statistically, after analysing the last 16.5yrs of data it shows the probability of a 8th day or more of buying is 0.254% which means there is an implied 98.78% chance...
Fed Kaplan unsurprisingly maintained the tune of his fellow members and kept the tone hawkish, with no mention of recent data undershoots but also interestingly on the hawkish side like the others failing to mention the record highs in the US Equity markets. From here USD is in a tricky position, a open-close below the 2yr MA may signal a broader and more...
Talks of the interest rate hike in the US will scare short term investors into buying gold.
If AU news is good, there is a chance that price action will break through the top trendline and then retracement to the line and then continue upwards. Need to wait for the Reserve Bank's sentiment on easing.