brandonlz2017

brandonlz2017

With the recent spike in oil prices due to OPEC and non-OPEC countries agreeing to cut oil output, USDCAD may resume its downtrend starting in early 2016. Using fibonacci retracement, we can see that price popped and attempted to break the 50% fib level around November 14, but was rejected by that resistance level. With a conservative stop loss at 1.322, a take...

brandonlz2017

Since 2011, the Aussie has been steadily declining. Heavy price action has been highlighted above in green, and as recently as early 2016, we can see a strong resistance level around .7659 . Not only does DailyFX cite that the Aussie remains in a downtrend, a quick google search on "Australian economy slowing down" (and limiting to past 30 day results only)...

brandonlz2017

On a 1-week chart, the Kiwi has been uptrending from the end of 2015, throughout much of 2016. Drawing our Fibonacci retracement from the lowest low in 2015, to our highest high in 2016, we can clearly see price bounce off of 38.2 retracement level. A rule with Fibonacci retracement is the trend is still trending until 61.8 retracement level is broken. With...

brandonlz2017

Drawing on some key support levels, USDCHF is positioned to test these levels. 1.0082 1.00814 On a long term 1week time frame, USDCHF has broken out from consolidation. Lower highs and higher lows have described the price movement from early 2015 until November 14th of this year. A long term uptrend may be in the future. For an aggressive trade, the stop loss...

brandonlz2017

NZDUSD is set up for a double top at this moment. If the price crosses .71024 area, it will most likely begin a multi-day downtrend if it can break through the support levels around .69231. If price is able to stay within the channel and eventually cross over .71293 resistance level, NZDUSD may remain in uptrend mode. I am going short if: - price crosses...