Crude oil face many of economics tensions, so the next scenario cannot be trusted, the news can kill the chart, in the chart there are integrated patterns which one will be the next or may be both will be failed, the good thing is the crude oil currently could be in bullish wave.
Continuing to ride the bullish trend mainly driven by the new NAFTA agreement last Wednesday, but still need to be careful about risk of getting whipsawed especially CAD Ivey PMI news tomorrow at 2pm, and CHF CPI news on Friday. Closely monitoring possible breakout of this pair at 0.77144, and will either setup a buy stop @0.77297, or wait for bounce (safer...
The USDCAD pair has been on a quite a choppy journey! A lot of false break outs causing shorts and longs to be squeezed. Following on from the Nafta weekend agreement in principle, the CAD has benefited nicely. We are now trading below the daily range, and we are seeing a lot of bearish candles. I will be running a trailing stop on this pair - As always, I am...
The fundamentals that move the Canadian Dollar the past week or so were the updates on the NAFTA deal. If a deal struck, Canadian will definitely strengthen. However, the Commodity Market is an important catalyst as well specifically Oil. US-China Trade war somewhat affecting market sentiment and the energy market is no different. The market sentiment at the...
Sentiment from the PPI poor numbers and the NAFTA deals (CAD strength pressures the Dollar). CPI US later some market experts believed a slow down numbers as well. I am trading into this risk. Technically, USD across the board failed to break levels to continue the bullish USD trend. If current candle closes as Bullish Engulfing cande (1) , then I will LONG it...
=> The recent downside has unlocked the key support at 1.27xx at the 50% retracement of the current rally. => Below 1.3025 means we will see a test at the more meaningful support zone - the August low => To the upside we don't see much opportunity here as resistance at 1.3110 caps the move immediately. => Trump has given the narrative of NAFA talks "going well"...
Although the upbeat tone of the RBA gave AUDUSD some respite, this was short lived dollar buying continued in a frenzy. The greenback sustained gains against a basket of major currencies over NAFTA trade talks, strong economic data, and general haven flows. At the time of this writing, AUDUSD was trading at 0.7179, near the low of 2017. We will find resistance...
USDCAD has been extremely bullish lately, on extremely strong manufacturing data today. It has retraced all of its losses which were caused by CAD strength due to hopes for successful NAFTA negotiations. Currently, Trump has made numerous hints that Canada may not even be a part of NAFTA anymore, and the Canadian Prime Minister, Justin Trudeau has fired back...
The Canadian Dollar is taking a beating across the board, but especially vs USD as NAFTA talks prove to be more difficult than with Mexico. Pressure it to the Long side, as we approach the first target for the move.
=> CAD received the bid towards the end of last week on the back of falling political uncertainty as Canadian and US officials came 'closer' to reaching a trade deal. => Here the US is bullying once more on the foreign policy side and Canada are being forced to agree. => The BOC on deck this week will keep rates unchanged as widely expected by markets and will be...
Break and retest of long term TL.
My trading belief is that when the price hits the certain range (USDCAD Avg Monthly Range = 300+ish pips), by default it should reverse minimum 60% of the recent move (some of you call it "a retracement") if not the entire move. Candle patterns that I look for in a way to confirm a reversal/retracement is on its way is Piercing Candles or Engulfing Candles. One of...
White line will be the trendline resistance for the play Red line is the stop loss area Daily view of the trendline support: First TP is 1.25 or till the white trendline resistance is showing some weakness
It seems that ECB is using the Anglo-Saxon version of rate hike projections stating that rates will be stationary through summer of 2019. Doubtful Draghi will spin this hawkishly .382 Harmonic retrace reversal Daily Calandar pbs.twimg.com #NAFTA #EURUSD #Iran #WTO #ECB #Draghi #EURUSD #Economics #TradeWars #OOTT #Brexit #GBPUSD #FixedIncome #Bonds #Trump
Shorting the CADJPY is such a powerful tool for portfolios in today's market environment. The trade benefits from 3 fronts: (1) NAFTA headwinds for the CAD, (2) Geopolitical risk-off dynamics of the JPY, and (3) Equity underperformance. Attractive technicals and fundamentals for this trade. Plenty of JPY longs have been liquidated over the past week, but the...
CAD should outperform NZD over the coming weeks. Constructive NAFTA news suggests that the US may be getting closer to an acceptable agreement with its trading partners, which should lead to a continued re-pricing of the trade risk premium. Risks to a more dovish RBNZ continue, with the new Policy Targets Agreement likely to add a second employment mandate and...
This week has been highly volatile for the Dolar/Peso testing much higher than the current range as well as lower. The current consolidation is between 18.60-70. Beware of any price action bellow 18.60 as we could make a bearish run to the lower end of 18 or on the opposite end beyond 18.8 to 19. I think there has been a lot of news affecting the dollar recently...