Nice triangle soon to be broken
A long setup opportunity is emerging on the NZDUSD. Let's wait and see
Current sentiment on Aussie remains bullish. With price breaking the previous downtrend line, we are looking for a decent retracement for a long setup.
Recently broke the trend line confirmed by the Sentiment Index indicator. We have multiple targets with Fib confluence
Let's wait and see if we get the trade
Price has been consolidating and trading in a range. The pairing of a commodity pair with Yen is always interesting to look for especially when the 'story' of the trade is on market risk environment. A break above the recent high and resistance of 79.12 might see price reaching for the previous Supply Zone at 81.
As long as price remains above 0.7610, and a break above the down trend line @ 0.7700, we might see more upside potential on AUDUSD; potentially reaching for the previous Supply Zone @ 0.7810.
With RBA maintaining rates with an overall neutral tone, we might see the Aussie being support for the time being. Risk sentiment might be the key driver for the Aussie for the month of October.
Potential short setup on USDCAD post OPEC news
Very similar setup with the AUDCAD and USDCAD trade ideas.
Keeping a close lookout at the 101.45 region as this trade idea is align with the current sentiment + technical play
A potential bearish bat formation, in line with the overall fundamental and current sentiment of the market.
RunningAlpha dot com Capital Markets Intelligence High Priority Update for Monday, May 2nd, 2016 Although $39 and $36.50 remains baseline intermediate to long-term support for Light Crude Oil ( in reference to June Contract Pricing ), the recent advance upwards has opened the door for a further short covering rally upwards to $62 to $65, and perhaps $74 to $76...
Hot money being crushed with four very similar, very aggressive, equity moves against the prevailing bias at consolidation zones. Letting the pressure and positions build up then crushing them. Follow the consolidation zones via the yellow arrow of pain. Anticipate another period of consolidation now followed by another sharp move, in whatever direction is going...
Many technical traders simply disregard the fundamental aspects of trading, and simply conclude that a technical price chart tells all the 'story' of a currency pair. If you are currently still have this thought and belief, I STRONGLY urge you to have an open mind and START doing some research on the importance of fundamentals in trading. Technical wise, we have...
Great OPPORTUNITY to go long on USD/CHF. Price has found support on the weekly descending trendline and a perfect Gartley harmonic pattern has been formed.