In this market, the bears have strong momentum to the downside with the most recent price action breach the 200EMA. Looking across to the EXY index it clearly shows correlating weakness for EUR meaning that a change of bias has been confirmed. Fundamentally I am still a bear on USD/Dollar due to the FED and rates, but given the more contemporary state of play if a...
The bears are focused on a 2nd consecutive day to the downside and breach the all-important 200EMA for confirmed control. EUR - WEAK
The Australian Currency Index showing near completion of H&S pattern. We now wait on the neckline test with highly probability towards the downside.
Another strong day for the dollar index as the bulls push higher. We now wait patiently for the 200EMA to be tested. Is this fundamental data being priced in early? We have seen a volatile bond market recently and key economists predicting a strong dollar before the end of the year. We covered this in our last publish looking at the DXY and how we could be...
I am seeing consolidation to price in fundamental moves. My plan here as a bull is to wait for the support level to be tested before jumping in long. Alternatively, I can always wait for a break of range and buy off the support reversal. Here we see the rejection on the 4hr chart with some noticeable wicks. Bulls have eyes on for the next opportunity. Just...
EURUSD has been comfortably trading below 1.20 for a number of days now. We have been monitoring chart patterns and technical analysis for signs of upside potential. Here we see 2 major setups broken into consolidation. We are now waiting on resistance levels to be broken above for bull entries, This trade plan may take time but for now, we wait for the next dip.
Seeing a low-risk high reward trade here off support. Risk 30 for 100 reward.
Up and coming IPO for the ftse100 could be currently priced into the market for a strong finish to 2021. Looking for the shorter time frame entry 1h/30m.
In the coming weeks ahead we could see a head and shoulders form as the US economy gains strength. More vaccinations and easing of restrictions is signaling a strong finish to the year for USD. For AUDUSD, the price has been floating around .77 as previously covered, and now looks to be testing the shoulder line. If we confirm a breakout then this may change.
On the 4h chart, this pair has recently tested the 50EMA which gives way for a double top, 77 pips above. This would be a scalp trade on the shorter time frames 15 or 30.
ETH has been very closely correlated to BTC in recent months and it appears to be slightly lagging behind the strong moves and breakouts that Bitcoin has presented. ETH remains a strong favourite to retest previous structure highs in and around 2042. Swing traders had an excellent trade recently after a clear reaction from the 382 Fibonacci level triggered the...
Possible short position for the bears here. Low risk, high reward. Eyes on.
Low-risk entry for high reward. Stops can be placed below support and moving averages. Targets can be set at the major level round 1765.
A welcomed stabilization in the bond market sees some momentum for the bulls. Previous structure highs remain a target for the bulls but will they have an opportunity to buy the dip?
We have seen gold fall below the key support level of 1765 indicating that the bears have confirmed control to take this market lower. The 3rd test of our long-term bear channel leaves us waiting on signs of reversals. A falling wedge can be seen on the 4hr which we await confirmation on now.
As you can see, the price has since broken the downtrend channel and has been making higher highs and lows. The green arrow is an additional position we placed yesterday as a swing for a possible trade of the week.
A possible setup for the coming week(s).
Yesterday we saw Fed Chairman Jerome Powell speak rather dovish on the economic outlook and the position of the fed. Off the back of these comments, we saw the DXY climb above previous structure highs with momentum growing to the upside and breaking the 2021 highs. Currently, DXY has broken the high but will need to close and remain above to confirm the dollar...