Antonio_trader

Antonio_trader

The pair did not quite hit the MPO of the reverse H&S pattern, but depending on the broker, MPO on other charts may have been hit. The price formed a nice uptrend that looks like a retracement before continuation. The resistance is at 50% fib level and 200 SMA, that is a strong level. Technically, both options could be traded depending on your entry signal, short...

Antonio_trader Updated 

The general risk-on mood and strengthening dollar overnight have pushed the USDCAD to go higher than 38% fib retracement and to test the 50 SMA. Release of US data will shine light on the next direction of the dollar. However, the forecasts expect the retail sales to increase by 0.2%, but core retail sales to fall by 0.3% since April. Core sales exclude the...

Antonio_trader Updated 

Today's positive PPI data for CHF added it strength to test the 50% fib level again, as well as test the trend line again. BoJ gradual shift to more stable monetary policy from Kuroda's more aggressive stimulus should ease off the pressure from the JPY. Since both currencies are safe haven, though JPY much more so than CHF, Looking at fundamental news about the...

Antonio_trader Updated 

Potential double top with bearish divergence on RSI. A break of the neckline is a good entry, first target at MPO, above 0.75. Little economic data coming out today, technical trading is easier, but watch out for new developments in 'China Trade Talks' situation.

Antonio_trader

The pair tested twice 110 level, psychologically key and now also the 200 SMA just above it, around 110.15. RSI divergence implies potential double top. Both days , when 110 was tested, candles showed potential bearish reversal patterns. Entrance on the break of the neckline. Target 1 is MPO above 107, but observe the 50 SMA in the way. The small trend line is...

Antonio_trader

Gold price has sold off recently but 1300 level and 200 SMA showed very strong support level. As gold tries to break the 38% retracement level, all eyes on the fundamental data. Recent data in US inflation caused a dollar weakness at the end of last weak with DXY pulling back from 93.43 to 92.42 at the time of writing. This week all eyes on the China trade talks,...