This set-up is a short 2618 trade but since the market was so kind to give us a triple top instead of only a double top, I call it 3618. Enter short from the 61.8% retracement at 1.02341 for a move back down to previous lows.
short @ 1.32425
sell @0.99010 strong weekly resistance at 0.99 (red line) providing upside protection.
Fed Dudley was speaking At A joint New York Fed, Indonesian Central Bank Seminar On Sunday evening when he left a mixed impression for the markets to digest - saying "it is premature to rule out an interest-rate increase this year" but then on the contrary saying "Raising Rates Prematurely Would Be Riskier Than Moving Slightly Too Late" and following up that...
Fundamentals: - A very similar situation to the Aussie in the fact that the Canadian economy is actually performing quite well and with the recovering Oil price further downside could be expected. The USD has again become a safe haven currency in this situation but with a rate hike now doubtful from the FED we should see a return to the downside on this currency...
Fundamentals:- We are expecting weaker data coming out from USA in terms of CPI, PPI and retail sales this week and on the Canadian side we are expecting to see an increase in inflation. We do need Oil to find support in order for this trade to work and will watch the correlation throughout the trade. Technicals:- We are experiencing a pull back from the...
Reasons for - Clearly price is putting in lower lows and lower highs (Clear Downtrend) - Price broke key level at 120.00 A week back so we maybe heading to next key level ? - Price has put 3 touch on short term 4 Hour trend line - Price put in doji the a bearish engulfing and clearly bearish candle then another bull green candle then another gearish engulfing ...
Fundamentals:- The data coming from Australia has been steadily improving and although we have a rate hike coming from the USD in December I would say that is all but priced in. It is time for the Aussie to start pulling back some of those losses over the last 18 months. We have the employment figures due out on Thursday which should give us a pull back and a...
Bassed of a 4 hour chart price has been making higher highs and lower highs but price came to daily leavel of RES and was not able to make any more bullish movement and was unable to make a higher high and also unable to make a lower high so therefore i believe the bullish momentum will now turn to downside momentum Also trading the break of trendline
We are looking to sell the USDCAD even after the hawkish comments from the FOMC last night. Oil has started to rally which in turn has given some strength to the CAD. This is a trade against the overall fundamental direction of the USDCAD but it should post a sizable pullback on support before another rally. The technicals show the bullish channel breakout and A...
After the weak Non Farm Payrole figures and positive comments from Mario Draghi last week I favour the upside for the EUR/USD. there is a nice rising channel formation on the 4 hour chart so I will be looking for a higher low and candlestick pattern to suggest a turnaround in the correction after the NFP on Friday. This is an early entry to the breakout of the...