We have various indicators of a reversal:
• Divergence in play
• Potential reversal channel in line with the divergence
• 200 EMA acting as our resistance in target area
• Price level 1.30750-1.3000 has been a key Support/Resistance level since 2016
• Oil prices looking bearish which influences the value of CAD
• NFP positive speculation for the USD...
weekly chart is showing usdcad in a bullish flag pattern.
daily chart shows that usdcad entered an ascending channel which broke out and retested the trendline.
however enter at your own risk as NFP is due on a Friday so anything can happen.
The announcement of the Federal Open Market Committee (FOMC) Fed meeting results was the main event. As we expected parameters of monetary policy were left unchanged. As for the comments, the Fed has been extremely positive about what is happening in the US economy recently. At the same time, the Central Bank noted weak inflation indicators, which were perceived...
After a successful short yesterday, it is now time to go long on this commodity.
I have 4 entry zones and already have met 2. The more entry zones met the bigger the move to the upside will be.
Risk management is key on a trade like this.
Trade safe and good luck!
Techincal analysis is always my first port of call and as you can see I have highlighted a Invese Head and Shoulder pattern which looks to be forming which essentially is a trend reversal pattern. Fib has also help me uncover support regions in which to trade from for entry and taking profit, this along side support and resistance from top level analysis will also...
GBPUSD has recovered greatly since the flash crash early in the Asian session on 2nd Jan. From a technical point of view we came and tapped a big psychological resistance level at 1.28000 before coming right back down and breaking through the ascending trendline. Upon a break we look for a retest to sell & we have that here. along with this we have may confluences...
Last week saw some life injected into UK stocks particularly on NFP Friday. Hiscox LTD was one of those stocks which is now setting up for a potential long entry.
We saw good moves from the very start of last week leading to price on Thursday breaking and closing above long term consolidation which dated back to November of last year. NFP Friday saw price break...
There looks to be a general consensus among forecasters that the weather will play a key part in job creation, which may hamper numbers to some degree. That said, the volatility in the monthly job gains has notable, ranging inside 150-250K, though inside these levels, the Fed will be content in maintaining their program of gradual rate increases through the year....
- Potential for a bullish week, sparked by positive PMI as this rose to 56.3 last month, from 56 in September as well as Poorer US NFP data
- Technicals support this as trend retests support levels and MACD moving averages crossover
- However be wary of next weeks UK CPI data as Mark Carney mentioned that CPI could be higher than 3% which will have adverse effects on GBP
There is an increase in low-paid jobs and a demand for low-skilled workers, hence their replacement is high, which is a deterrent to wage growth, and hence inflationary pressure. Employment growth in the sectors where higher qualification is required will be the first shift from the dead-end, where it can be said that employment will give impetus to the growth of...
After the positive NFP Reports on Friday, we are now seeing the Dollar gain back some strength which has seen FX:USDJPY form a Inverted Head & Shoulders for a possible trend change back up to the upside.
Technical & Fundamental Analysis are strong here supporting this LONG Trade idea.
We've hit the 50% Fib level from the low levels in December 2016 to the high in April time 2017. We tried to hit that high once more and failed. With NFP today confirming an increase in jobs in the US this has given buyers hope of an interest rate hike. But look what happened the last time that happened, USD JPY and the Dollar bottomed out. Could we be heading for...
Publishing a potential reversal in gold, offering an initial 6.8 R/RR
i think NFP tomorrow will ultimately determine the direction of this. Would be happy to short if 1250 breaks as the risk / reward simply inverts and offers good potential.
Looking very oversold on the RSI but it has been lower in the past. Also, we are on our 8th consecutive down day, which...