benjaminhay

benjaminhay Updated 

Just picked up a long trade on EURGBP after EU data came out better than expected by the market. I decided not to take the trade on EURUSD because of the inflation rate data coming this afternoon. EURGBP is still in a uptrend on the daily timeframe and did a nice pullback on the 4 hour to enter long. Employment data and ZEW economic sentiment came out stronger...

benjaminhay Updated 

From a fundamental point of view, Canada has macro data which favors a stricter monetary policy to be maintained than the Euro zone which may favor the CAD in the days to come. Inflation in Canada is higher than in Europe, its growth rate is also slightly higher and its interest rates are much higher as well. Everything to consider a further decline in the pair...

benjaminhay

No particular bias on this pair because it is really sideway on long term. This position is purely based on technicals, price is on a big resistance. I just follow the interest rate economic indicator that favor NZD

benjaminhay Updated 

I published a buy opportunity last week but the price broke the top of the range and did not respect my plan but, the price is now back at the bottom of the range and already rebound. The daily trend is still upward and fundamentals are not in favor of AU dollar, it still has selling pressure AUD index:...

benjaminhay Updated 

I had this pair in my watchlist which has formed a nice double bottom on the daily support. I have currently a long position. NZD was the weakest currency during the week and I think we could see more downside because of china economy underperforming actually, less demands so less exports for New Zealand. Both economy inflation still very high, UK is higher for...

benjaminhay Updated 

After the huge sell-off that occurred on the pair, it looks like it was oversold because you can see big buyers candles to get back above the daily support level. The price is now moving in a range but has some potential to break to the upside because the pair is still in an upward trend on the daily timeframe. The ideal long entry would be on another retest of...

benjaminhay

The daily trend is still upward and on the 4h timeframe, price is definitely making higher highs and higher lows. I'm waiting for a pullback to enter long, ideally a retracement on the 0.5 fibo level. AUD index is still in a moving downward and has lately rejected a resistance level Retail sentiment EURAUD: very bearish AUD index:...

benjaminhay Updated 

I called this opportunity 1 week ago about AUD downside after the RBA meeting The AUD is continuing to weaken, espacially versus the CHF because of the war in the middle east ! The pair should easily reach the support level ! I have added 2 more last week

benjaminhay Updated 

After the price retested the daily support, it rebound and broke the bearish market structure Now the price is ranging, GBP has been gaining some strength lately and on the other hand AUD is still weakening The ideal entry should be a retest on the support of the range to enter long retail sentiment is switching a bit from bullish to bearish

benjaminhay Updated 

Many labor market news tomorrow for CAD which are supposed to meet forecasts and push the currency more downwards A lot of pressure on oil also, impacting the currency performance still holding my short position

benjaminhay

EURGBP is a big ranging pair and it is still in range on the monthy timeframe and on the daily timeframe for almost 2 months now. The range came after a bearish trend so it is preferable to look for shorts rather than longs. Price was testing a big resistance and is now showing some changes in the market structure. The price failed to break above, twice. We could...

benjaminhay

Last week, I published a short setup and a trade I'm actually in on this pair and a fundamental analysis also. As I expected, market met my expectation. Rising oil is a big red flag for the FED, so they keep the monetary policy tight and hawkish to avoid rising inflation and it affects the CAD currency BoC interest rate decision is scheduled at the end of the...

benjaminhay Updated 

the pair retested a strong level of resistance and rejected it already at the beginning of the week. RBA interest rate decision is due tomorrow morning but, the bank is not expected to raise rates at this meeting because inflation has dropped signifcantly and the country is experiencing a period of below-trend growth and this is expected to continue for a while...

benjaminhay

The pair has been correcting well towards this big resistance level, sellers could step in again. Oil is rising too much lately so FED should brought some pressure again

benjaminhay

the pair was consolidating for a while and breakout this morning. Investors seem to start taking some profit on US dollar EUR and GBP are not interesting at the moment so the only ones left are AUD and NZD Order placed on the retest of the level and stop below the previous low Target is ideally 4R with trde managment on 4h timeframe current retail sentiment...

benjaminhay

FED remains hawkish after the last FOMC meeting Price of GOLD has started to break support trendline and the previous low, price should continue going down for few months current retail sentiment (myfxbook) : bullish

benjaminhay

NZDUSD as AUDUSD, has been consolidating for a month and could breakout to the upside soon, it has shown a lot of strength for the end of this week but, careful for false breaktout. wait for clear upside structure to form above this resistance

benjaminhay

the pair has been ranging for month now and it could breakout soon When it will breakout, wait for clear market structure to not be tricked by a false breakout AUD seems to have gained strength by the end of this week but it does not mean that it is going to breakout to the upside