It's been a very slow week for me, but luckily Jason is picking up the slack. Going into Friday's Job Report I have no intention of entering any new positions aside from this potential bullish bat pattern on the Kiwi. NZDUSD is in a very interesting position as our HTF trend has bounced off previous structure resistance, yet our LTF trend has recently created a...
I am still very bearish EUR, which I will probably be for the rest of the year – at the least. I see absolutely no reason to buy EUR and it seems that it is an image that generally recur in the market. There is not really anyone who is interested in buying EUR ;) Yesterday came another jolt in the euro heading for the abyss. EURUSD broke through a key level of...
Multiple potential advanced patterns setting up on the USDJPY all around the same area. We've yet to break out of this consolidation, but if we do before Friday's Jobs number, we have a good location to look for our next short. Before I get a million nasty messages no, I don't think dollar weakness and Yen strength long term, but that's what makes me a "Trader"...
This pair rose strongly after a higher than expected non-farm payroll number came out (257K) together with a favourable wage gain percentage (0.5%). Because of this strength in US the labour market, the USD immediately became bullish, driving USDJPY up 185 pips. This moved the price of this pair above the B point of a potential bearish Gartley on the 4H and now...
Possible shortside short term outlook on USDCAD before or during nfp
Last night the RBA cut their growth estimate to 1.75%. After having recently cut their rate to 2.25%, this should be enough to weaken the AUD, creating selling pressure on this pair. My fundamental bias on AUDUSD is therefore bearish. If on top of that the NFP would come out favourable today, there would be one more reason to look to sell it. As always, I want to...
Hi all, Hope everyone is having a great new year ! Here is a quick forecast for the upcoming NFP release. I am going with the scenario that USD will come weak, meaning that JPY will gain strength as well as EUR and AUD together with GOLD. Open positions USD/JPY - Short CAD/JPY - Short EUR/USD - Long AUD/USD - Long XAU/USD - Long Happy Trading...
With NFP release, USDJPY might testing 120 level. NFP guess on 245k
We've been tracking this cross for a while now and currently this single trade is adding 27% profit to my account. Thursday closed above 8.0 which confirms our bullish outlook. Price tagged 8.0 earlier this month but failed to close above this level and created a doji, which might have served as a counter-trade signal for many. For us it was just an indecision...
Hi all, Above you find the best pairs to trade whether you are expecting a strong USD or a weak USD. This is based on the overall currency strength. NOTE: The direction of the NFP is most often the remaining directing of the day on the weakest respective strongest pairs depending on whether USD comes strong or weak. Example: If we expect a strong NFP, pairs like...
One of the biggest reasons 98 % of traders lose money in forex is because they don’t know what currencies are strong respective weak. Knowing the strength of a currency will dramaticly help you on the way to become a world class trader, you will never look at the market the same once you have fully understood the importance of currency strength.
WFM has been in consolidation for several months, beginning with the large gap down on earnings back in May. On earnings this time price gapped up out of the consolidation zone, on higher volume. On the daily chart there is no resistance until 47.70, the bar was very bullish and closed above the 200ma. Initially this may look like a good near term...
London Session Watch USDCAD There are multiple inside bar candlestick patterns formed in the USD/CAD. The long term trend for this currency pair is still up as the short term moving averages (10 and 20 period) are still above the long term moving averages (50,100 and 200 period) but the Tenken-sen has slightly crossed below the Kijun-sen which could show that the...
Base scenario for USD/JPY currency pair would be to go Long at current market price above 102,7 former ressistance zone and aim for a new highs as the sentiment for Dolar has shifted in last weeks. That should work preaty well if the NFP at Friday will post another strong 200+ number. Only an disapointing data tomorrow would be able to push USD/JPY below 102,7 and...
USDJPY in the area of 50% Fib retracement, from January's highs and @ 61.8% from Aprils highs - could be a good place to enter short trade. we do have break of trend line but luck of real volume or rather low volume suggest that buyers are not interested in buying at this level - more likely profit taking. RSI overbought, pair in strong resistance area. Would be...
GBP/USD felt to really important level if there's an chance that it will conitnue the uptrend that we might be just getting to the entry point at the moment. There's an confluence of green marked Demand zone, 50% Fibo retracement of last swing up (1,669-1,719), daily trend line and the previous smaller leg up low at 1,685 level (red circle). Todays down move was...
Alright guys... so this NFP was a real test of the nerves. Where do we stand? Shorts from 0.93882 can cover stops to 0.93157. What we're looking for... a neat close below 0.9222 (which is the low of previous NFP). Looking at past candles around NFP, it will take a day or two for price to hit the target. We're looking at 0.912 - 0.915. Next update closer to...
***Why do you need to have an idea on the bigger picture*** I've seen quite some trade ideas between my last Aussie chart and now. Some calling longs, some calling to stay out.. I must admit, at times even I got a bit confused, but this chart has kept me on the right side of the trade. For example, the retracement to 0.93065 was picture perfect. (It was a high of...