We have been talking about AUD strength for a while now, seasonally the market is coming into a strong period and being at the key support level we expected a move higher. Looking at the market technically we bounced from the key support of 78.70 and have recently seen the market break structure resistance forming a higher high. This is crucial in looking for the...
We had a fantastic trade on this market last week trading from the previous structure lows. Now that the market has broken through key support we are looking for this market to continue lower targeting the next support zone around the 1.9200 area. Applying our fibs we can see that the previous 4hr lows are sitting up at a 50.0% Fib retracement and would be a...
With the current strength of the NZD we often look to weaker currencies to trade against. With the USD strength as ongoing economic uncertainty with Italy and Brexit the EURO remains on our list for lower prices. Technically we can see the 4hr timeframe forming a downtrend with lower lows and lower highs. This market has also broken through a key support level...
USDJPY has finally broke out of consolidation as we see investment shift from the safe havens back in to the index's. We can see this technically on the chart with the break out of the recent consolidation zone after finding support around the 111.60 zone. Now the 4hr chart has broken out and closed above the consolidation zone we expect it to be re-tested before...
We've had some great trades on NZDJPY as of late just buying from the key support below at 72.40. This zone has been used numerous amounts of times as support and resistance so it was likely to find support again. This combined with the current commitment of traders signal for the NZD currently we could expect further upside to this market. Again we have created a...
We have been watching Brent Crude Oil for a while now as we expected a deeper retracement to form. We managed to catch a great trade near the highs after the change in 4hr trend. Technically the market continues to produce lower lows and lower highs and is currently consolidating after bouncing from the minor support at $75.00. Now we are starting to see the...
XAGUSD (SILVER) has been consolidating for a few weeks now without any clear indication that buyers have stepped back in. Technically we can see a bearish breakout of the previous weeks low and would look for this to continue on a break and close below the supporting trendline. Looking at the 4hr chart if the market can break lower and start to produce lower...
We have been watching the NZD pairs closely as seasonally the NZD is strong as well as the commercial long contracts still at all time highs. Looking to this market we have been in a downtrend on the higher timeframes and we must respect that however we may be seeing an early change in the trend with the market change cycle on the 4hr chart after bouncing from...
GBPUSD will be an interesting chart this week as we have a Bank of England interest rate decision this week along with Bank of England Carney speaking just after. It's a tricky situation for the Bank of England as they have to look at how Brexit will effect the economy. Technically we can see that downside is more than likely however we are sitting at a minor...
Looking to the week ahead and what to expect of the the USD. We have Non-Farm Payroll coming up this week which is forecast to be higher than last months, backed by President Trumps tweet suggesting the jobs number will be good. Seasonally the USD is strong and looks likely to continue however we are sitting at a key resistance level with 127.2 Fibonacci...
As we are seeing equities fall we typically see a rush to our safe havens such as Gold and JPY when investors look to shift their funds from risk on to risk off. However as the indices are now falling into key support levels could we again see the shift from risk off back to risk on. Looking at the market technically we can see that buyers look to be running out...
The market hasn't closed yet however we are seeing CAD weakness across the board despite the interest rate decision. We covered this in one of our other CAD posts. Typically a currency will get stronger before the rate hike announcement. Most of the time a rate hike is priced in and you will see some initial strength but it will most likely weaken after the event...
We've had some great results lately trading GBP short. We expect this to continue over the coming days until we see prices come in to a key level where we may see some relief to the current downside. GBPAUD 4hr chart is showing a clear down trend with lower highs and lower lows. The key support area sits at 1.7960 with 127.2 Fib extension confluence. If the...
CoT Reports show NZD commercials at all time highs in Long contracts giving us the reason to look for the NZD long trades. Looking to this pair we discussed how it broke out of a key resistance a closed above. Looking for the long trades, the set up on the 4hr timeframe didn't meet our rules and taking a step back to look at the higher timeframe the market may...
As we discussed recently, EURJPY was at a key support level where we asked the question, break or bounce? We have seen as of a yesterday a clear close below the level. Looking for a 4hr swing trade on this market now. If we see a pullback into the previous structure lows and price failing at these lows we can look for continuation trades.
Looking at the US Dollar Index (basket of currencies against the USD) we can see that it has finally pushed through and closed above the key resistance up at $96.00. This is highlighting the current strength of the USD fundamentally, seasonally and technically. Seasonally the USD has its strongest period through until the end of November. If the USD continues to...
EURJPY is on our watchlist as we are currently seeing the market buying into the safe havens such as JPY and selling the EURO due to the events outlined in our previous EURUSD post. Looking at this market technically we are at a key support zone, if we see the market push below the zone and close lower we can look for the continued short trades here. If...
As we can see from this USDCHF chart currently the USD strength is in play and we should expect this to continue as long as the data backs up the Federal Reserves plans to hike interest rates. We will be closely watching the data releases over the coming weeks. Keep an eye on GDP, CPI and Employment announcements as these will be key indicators to inflation...