FX:NZDUSD It seems the rate is ready to start the new year with a boo. Risen up to test the former broken large head and shoulders pattern neckline as the new resistance, it is now experiencing a sharp sell-off indicating that it may be ready to take the next leg lower. The only concern with an immediate entry is the broken lower parallel of the falling...
FX:EURNZD The rate is currently experiencing a sharp sell-off after testing the resistance from a falling trendline dating back to 2015. Although the current formation (contracting falling wedge) would leave me cautious when shorting the pair, a smaller short term short position to target the yearly lows around 1.4700 could work nonetheless.
FX:NZDUSD The rate is currently testing the former broken falling channel support as the new resistance. I am looking for a strong rejection lower to enter new short position on the larger head and shoulders pattern trade idea . I would like to see a bit deeper retracement higher for the rate to test the neckline of the head and shoulders pattern around 0.6960...
FX:GBPUSD The rate is still trading along the lower parallels of the former broken falling channel. It has just bounced lower from the previous support/now resistance at 1.2300 and is now sitting at the 61.8% breakout target from the large broken rising wedge formation. The immediate attention should be turned lower to the support area (1.2090-1.2150) and at...
FX:GBPAUD The rate is still trading within the box range I mentioned last week (for full trade idea click here ). The thin holiday trading liquidity, however, has pushed the rate into an even smaller range. The lack of fundamental catalysts, the pressure which the rate is applying on the former resistance as the new support at the major psychological level at...
FX:GBPAUD The rate is currently trading beneath some important resistance levels - the 6-month falling trendline starting after the rate made a breakaway gap from the Brexit low, the former channel support as the new resistance and the monthly high at 1.7170. I am bit more bearish here and will consider entering a short on a break below 1.7000 to target the...
FX:AUDNZD Currently trading within a contracting range, so we’ll get get some kind of resolution quite soon. I am bit more bullish here, because of these two head and shoulders patterns. I am looking for a break above 1.0800 to trigger the smaller one, which is also important because of the major falling trendline, for a move towards the neckline of the...
FX:GBPNZD This one is has been in a free fall ever since the Brexit vote. It has broken every possible support and is trading at all time lows. For the next year I really don’t see anything good for pound so I am only looking for a downside continuation, the only question is where to sell... One possibility is the former channel support as the new...
FX:NZDJPY The same as other yen crosses it was testing an important support before having a sharp rally higher. Confirmed the trendline from the start of 2015 right at the major resistance level with a massive shooting star on the weekly chart. This level was the neckline of the head and shoulders top which broke down with a huge breakaway gap so there’s a...
EUR/AUD This year it broke the rising channel, tested it as the new resistance, but stopped dead with no follow through. For weeks now it has been stuck in quite a tight range between 1.4100 and 1.4500. I am still more bearish here as it is putting a lot of pressure on this 1.41 level., however, not so far down below we have a major support area around...
AUD/USD The aussie is currently my top trade for 2017 and I've already have some shorts running here. As you can see – the latest drop and breakout from this wedge formation comes after just touching this former broken channel support which has become a major resistance. I am currently targeting the 2015 lows around 0.6900 but I do believe it’s possible to...
NZD/USD After breaking down the double top, it used the 2016 to pullback to the neckline to test it as the new resistance. It formed a percfect head and shoulders pattern which is also the higher parallel of this major trendline (green) and is now breaking lower. I am targeting the 2015 lows around 0.6200 and would really like to see how it reacts with the...
Overall EURO weakness and expectations about the expanding the ECB's balance sheet should create imbalance in supply/demand and drive the price of the EURO down