Quite an interesting pair to start with this week as it presents multiple options for us, to stay in line with other pairs on the watchlist this week we do favour the long, but the EUR is far from the strongest currency at the moment and may go either way. Let’s focus on the long, we broke some key levels after seeing rejection from 1.6580. the pullback has taken...
After a pullback from 1.1600 we have seen the pair lose momentum and enter a period of consolidation. Last weeks close and actually most USD pair closes look to indicate that there is certainly still downside movement in this pair and for the short term at least 1.2500 and 1.2380 look to hold the keys to the direction of the pair. It stands to reason therefore...
The beauty of analysing the charts in the way that we do is that levels remain relevant for weeks on end and means we get to spend more time trading and enjoying life than we do breaking down pairs. This is a prime example, for the eagle eyed amongst us you will notice this is the exact same chart and exact same analysis as last week. Last week saw us bounce from...
Similar to the EURAUD set up in the sense that we may be presented with multiple options on the pair but again the bias has to lean towards the short on this occasion. 0.6380 looks to be the best entry for a continuation of the current downside momentum as this will see us clear all previous levels and give us a clear run at 0.6320, we may also have a chance to...
We have been sat in consolidation for a while now with no real directional movement, but we may well have the chance to trade within this range while remaining confident of a possible bearish breakout. 75.50 is going to be our entry point and we should get away with a tight stop loss in this instance above this zone. 74.80 is going to be our initial target as this...
This pair is in rather unchartered territory being this low but there is definitely reason to believe it may drop further still over the short term. 0.5750 is our level to break and we will be looking to treat it as any other breakout position namely awaiting the retest, so we don’t get caught in a false break. We are simply then going to ride the wave down to the...
In a similar set up to the NZDJPY we have planned this week. The pair is now showing signs that is macro retracement is coming to an end now that we have come back to test the previous breakout of consolidation at 82.20. last week showed us a few days of indecision before sellers came back into the market to seemingly take control once again. Now given our...
The weekly close gives us a brilliant indication that there is more misery to come for NZD, Thursdays and Fridays candles also show us that our pullback seems to be complete and sellers are once again happy to take control of price. Entries and exits are extremely straightforward with this one so don’t require much explanation. A break back below the weekly level...
Last week saw us close above 0.6820 that in most circumstances would see us focusing on just the long trades but it is the Daily timeframe that has us considering the shorts. We have seen price storm back up to 0.6900 that could be treated as our previous area of breakout back in July and we may have broken back to that area to find our resistance on route to new...
The weekly and Daily closes on this pair look wonderful for further continuations to the downside. The rejection we have seen from the key level at 69.40 is encouraging and with Thursday’s and Friday’s closes there are a few positive signs that this retracement back to this major area is now complete and a return to the lows at 66.80 are now on the horizon. When...
EURCHF
As we look trough the EURO pairs this morning we have plenty of reason to believe we may have a slight rest bite in the pressure the currency has sustained recently and with this pair we have had a breakout to the upside of the previous weekly range between 1.0820-1.0930. As we look at the daily chart it is clear to see that we have missed the chance to...
We have seen a Doji candlestick form on the Weekly close showing us the clear indecision in the market and we have also seen strong rejection from the Weekly Support Level at 1.5780 so again we have some great options with good size targets. Long positions above 1.5900 are clear cut with 1.5980 and then possibly 1.6060 in extension becoming our targets. When it...
It’s difficult to see anything other than the short given the huge rejection seen from 1.1480 last week but we must remain vigilant to the fact that we have seen a clear Higher High formed on the daily timeframe and we a yet to break the previous Macro swing low at 1.1300 therefore Long and Short positions must be considered this does provide us with options which...
We are caught up in the same previous range 0.7230-0.7150 that we found a home in throughout December, the breakout of the range resulting in a free fall below 0.7020 and led to new Yearly lows being created at 0.6980 (discounting the flash crash) so with history being on our side a drop below 0.7120 could be sufficient enough to entice money into the shorts and...
We have seen a Doji candlestick form on the Weekly close showing us the clear indecision in the market and we have also seen strong rejection from the Weekly Support Level at 1.5780 so again we have some great options with good size targets. Long positions above 1.5900 are clear cut with 1.5980 and then possibly 1.6060 in extension becoming our targets. When it...
