Friday saw AUD/NZD bounce off a well-defined support/resistance area but doubts remain whether this pair is headed higher or lower.
The Daily and H4 TDI levels suggest we're going lower but H4 is moderately BULLISH.
If the support level at 1.0761 holds then look to go LONG.
If this level breaks then SELL this pair down to 1.0560 area.
The stiff resistance at .7732 area remains intact and whilst we remain under this level we should be looking to SHORT this pair. However from these levels (.7500) with RSI over sold and solid support beneath, AUD may attempt to recover.
This looks quite an easy trade so if .7490 remains in tact and we see price move north we can look to BUY this pair from current...
BULLISH week last week for the EURAUD but this had less to do with EUR strength and more to do with AUD weakness. Whilst the AUD remains under pressure the EUR could gain ground but any sign of Aussie strength and this pair could reverse rapidly. Technically this pair is BEARISH whilst we remain under 1.4176 and we are looking to SELL this pair down to 1.3624 support.
As price remains under the 200 sma on the DTF , EUR BULLS look to have it all to do. The RSI on the DTF is at extreme oversold levels so a bounce cannot be ruled out but this is likely to be short lived and a downward resumption looks inevitable. Look to SELL this market down to 116.
Last Friday saw EURUSD hit significant support but failed to move higher with any authority.
The picture is very BEARISH with RSI falling on the higher time frames and TDI equally BEARISH.
With the USD showing no real strength there's always a chance the EUR could bounce but from a technical standpoint the BEARS seem to be in control.
In my assessment of GBPUSD I paint quite a gloomy picture for GBP BULLS and with GBP/JPY sitting on top of the critical 200 sma on the daily time frame, this pair is poised to either sink or swim.
The RSI is BEARISH as is the TDI on H4 but the D1 TDI is more mixed as we have a squeeze and its unclear which way we are going to break. Should the RSI line head for...
The GBP came under severe pressure last week where it lost ground against all currencies save from the AUD where it gained a modest 50 pips but this has to considered quite an achievement considering the GBP fell over 200 pips against the USD and the JPY. The GBP/USD weekly candle was particularly revealing as it was as close to a Marubozu candle as you are likely...
We've just gone LONG this pair from 1.2400 with a STOP under the H4 200 at 1.2381. Not too convinced by this trade but WS1 and H4 200 sma is offering support and for a 19 pip risk this trade looks value.
GBP/USD has lost ground this week with some mixed UK numbers - with Manufacturing Production and Manufacturing PMI missing though Services PMI came in better than...
For some time the price of GBPJPY has hugged the 200 sma on the DTF. Yesterday saw another touch of the 200 and the price immediately headed north though price declined throughout the day. As long as this pair remain above the 200 we should see a move higher. Adding to this BULLISH analysis is the RSI which has turned north from lower levels.
I'm watching the TDI...
Price is now pushing the 200 sma on H4 and this follows 2 days of indecision. USD/CHF is overbought on smaller time frames and the H4 TDI is signalling SELL.
We are SHORT from 1.0030 with a STOP at 1.0050
Critical support has recently been broken on USDJPY and with questions marks still surrounding the USD , its possible we could be looking at a measured move down to 108 over the next few weeks.
Positive US data and any talk of additional rate hikes will affect this view but in the absence of positive news we expect the USD to continue its BEARISH move and head south.
Since the January 2015 crash, the price price of EUR/CHF has hit a high of 1.1197 but has steadily declined since then and fell to a low of 1.0621. Since hitting that low, price has meandered in a tight trading range but is relentlessly heading down to back to this critical level and it is known that the SNB has been busy defending its currency.
The problem the...
With the GBP strengthening across the board and the EUR weakening this looks a no brainer SHORT trade. The Weekly TDI is especially BEARISH suggesting we could be headed much lower for the rest of this month.
Oversold on H4 and H1 suggest we may need to see price pullback before the next leg down.
SELL any significant pullbacks.
The EURO continues to weaken across the board and looks to be headed for 1.0630/1.0600 area.
Support may lie here.
Quite a lot of support lies under the price so we could see some BULL activity at the start of the week but we'd need a move above 1.0904 to take the pressure off the downside.
Like most GBP pairs, GBPNZD is in an uptrend but conditions are stretched. H1 is particularly overbought so a pullback to 1.7768 area is preferred before any LONG trades are taken.
1.7594 is the 200 on the DTF and this is quite a distance under the current price.
Look to BUY on any dips.
GBPAUD is relentlessly targeting the 200 sma on the DTF that lies just 200 pips above.
Studies looked fairly stretched but there's room to the upside before overbought conditions come into play.
Under 1.6194 and the outlook turns BEARISH but as long as we stay above this level we should move higher.