This majors based NZD index has been moving within a range on the daily chart between support at .7625 and resistance at .7825. Today's price action was indecisive near support. A close above today's highs, .7005, would show NZD strength and a move up to resistance could be underway. A break below would be showing further NZD weakness, as it has already moved from...
Although NZD has moved into the top spot, I would exercise caution if taking aggressive trades. I'll be watching for a sustainable breakout above resistance to signal the continuation of NZD strength.
SP500 / GOLD looks bullish with a potential trendline break . This is a more aggressive trigger, a conservative trigger would be a close above the 20 EMA . The chart going up would show the markets preference towards stocks against the old time safe haven. Classic risk on/risk off analysis. Let me know what you think! Also, follow me on twitter @WhosTrend
GBP has been one of the weakest currencies for some time now and it's easy to see that from this chart The FX market has been quiet for the majority of the week and it looks like GBP tried to regain some ground albeit slowly It could continue to gain but the overall bearish channel is what I'm focused on. I'm watching for bearish setups on GBP pairs but waiting to...
The first two weeks of June has been fruitful for JPY, gaining strength against it's major counterparts. Maybe the strength will continue but my Yen index has rallied to resistance with supply above. AUDJPY and NZDJPY have very nice uptrends and I'll be watching these and others for their next impulse
AUD has been one of the the top 3 strongest currencies since early April but like all trends there is an ebb and flow. My AUD index has been trending nicely within a bullish channel and if it can hold this support line we could see another impulse. Ideally I want to see price close above the channel support line. If not we are at risk of invalidating the...