AUDCAD has formed the double bottom pattern and now is in consolidation phase at the area where Fib Extension overlapped with Fib Retracement which complies with the previous resistance before continue going up.
The suggestion by Governor Adrian Orr that the Reserve Bank of New Zealand "actively prepares a set of additional monetary policy tools to be used if necessary" had surprisingly minimal effect on the local currency, as it erased annual losses and moved to a fresh annual high against the US dollar on September 2. This indicates a strength in NZD Technical...
EUR: The currency of the Eurozone rose against the dollar as the Euro reached a two-year high on the last day of August. However, recent price action on the back of disappointing Euro CPI data has shown that Euro trade is lower than Pound, bringing a number of key levels into focus. Technical Perspective: EURGBP has created a new LL. It may pullback to the...
New TP has been updated from previous analysis on GBPAUD as the chart is still downtrend.
President Christine Lagarde and Co. may continue to stress that the EUR 1.350 trillion envelope for the Pandemic Emergency Purchase Program (PEPP) 'should be considered a ceiling rather than a target,' and that the Euro will continue to outperform its US counterpart ahead of the next ECB meeting on September 10 as the central bank speculates on additional monetary...
In my previous analysis on AUDCAD, it began changing trend from downtrend to uptrend. So we are going to have long. Current analysis: It looks like AUDCAD had touched the point where Fib Extension overlapped with Fib Retracement. Still not too late to enter long now. TP1: 0.96707 TP2: 0.97033
Negotiations between the United Kingdom and the EU hit a stumbling block on state aid laws and reopened no Brexit agreement. This indicates a strength in GBP. GBPUSD will bounce to one of the Fib Extension entries which comply with SnR and continue going upward
JP225 is still stuck at the resistance and may rebound to one of the Fib Extension entries which complies with SnR. TP: 23606.4
At the Jackson Holeeconomic Policy Symposium last week, Federal Chairman Jerome Powell sent a direct message to stock investors that the central bank would allow inflation to be exaggerated for a period of time before stabilizing at a 2% long-term target. In the near future, the Fed is likely to remain supportive in its monetary policy, even though the economy...
DXY is stuck at the 1998 support after a perfect bounce on the area where Fib Extension overlapped with 23.6% Fib Retracement which comply with the resistance and the trendline. A break of the support zone could quickly send DXY down to the next 2018 support at 88.25. Entry with your own style of price action.
AUD is keeping stronger from the last week and expected to continue its momentum. Its time for pullback, so we'll entry when it touches to one of the entries in which Fib Extension overlapped with Fib Retracement and both entries are comply with SnR.
The gold has broken the trendline and is expected to go up. Wait for it to touch the point 161.8% of Fib Extension to minimize the risk and maximize reward because it could possibly a fake breakout. TP be can referred to my related idea on previous analysis
I'm predicting a fake breakout will occur at 0.89295. So wait for the price at 0.91093 and close position at TP level. My technique can predict a fake breakout that can possibly happen with the use of Fibonacci Extension and Fibonacci Retracement.
Wait until 0.957 for the pullback and enter short at that point, as this is where Fibonacci Retracement overlapped with Fibonacci Extension. Close position immediately if the price reaches TP2 as it is still upward in the larger TF.
As my previous analysis on EURCAD, the price went down and hit TP1. You can close the position before and wait for it to pullback into one of the entry zones and enter short again. Have a look at my analysis below