TazTrades

TazTrades

We are at very interesting levels when it comes to this pair. We are currently retesting the 2015 lows and a good chance to go long – long term. From a technical perspective it looks like quite the appealing trade with substantial support. From a fundamental standpoint though, the Kiwi could find some relief based on dollar weakness and a resolution of the trade...

TazTrades

I’m expecting a bullish push up to have a retest of the .68800 area. The pair has found a relatively solid base around the .67700 mark and a retest of that area will be a good entry to go long. Reason I am expecting the aussie to pick up some strength – the pull back of some tariffs by Trump, the RBA minutes which will look to maintain their interest rates at 1%...

TazTrades

We are currently seeing the markets get exhausted from the bullish run that began Apr 22 with speculation surrounding the rate cuts by the RBA and declining economic activities such as housing and construction. As of yesterday we have now seen the pair test multi year highs and get rejected and I look for a correction within the next weeks as negative data such as...

TazTrades

From my last post on this pair, we did see that push to the downside based on a couple of economic factors. First the speculation of the RBA cutting rates did not occur like I suspected. Instead the rates were held in at 1.50%. Keep in mind we know the RBA will cut rates and now we might see that come in as early as next month as they have now stated 3 rate cuts...

TazTrades

Haven't posted my trade ideas in a while but realized the few of my ideas tend to come to fruition and figured I will keep at it. But that aside, from the chart we can see the massive upward push that GBP got into with the string of bad data coming from the Aussie mid last week and the local elections that occurred in the UK have given us a retest of the March...

TazTrades

With news last week, we saw the Euro go past it’s usual level of support of 1.26 and 1.121 to close on Thursday at 1.11. We can currently see it push back up but from looking at the charts it will most likely go to restest previous support and get rejected which corresponds with the .618 fib level and will be around the vertically drawn trend line. With the...

TazTrades

As I mentioned in last weeks post, we are currently testing that 1.29-1.30 support. This area is going to be extremely crucial in determining what comes next but I am expecting a retest of the 1.305 ish price mark before a continuation of the downtrend. The MACD bearish Divergence is now currently confirmed signaling the just now start of that downward trend. The...

TazTrades

With the signal to go short two days ago, we currently see a retracement down to the 1.300 price mark. There will be massive support around the 1.29-1.30 price ranges which could cause a short term push back to the upside. However, with the bearish divergence currently been formed on the MACD, current strength of the USD and the political situation around Brexit,...