Morning traders, Lots of activity overnight with US central bank meeting and CNBC reporting that US and China trade deal may be announced next week helping Aussie dollar find support overnight after collapsing lower post US Fed meeting where they stepped back from the idea of an interest rate cut. On the back of the meeting Aussie Dollar fell from 0.7056 down to...
morning traders, New day but similar story across multiple G10 forex pairs with many at extreme oversold levels whilst at resistance levels and the market questioning if the moves continue or we see a reversal. One such pair is British Pound versus Australian Dollar. We had entered this pair yesterday but poor data out overnight on Australian building permits...
Morning traders, Looking at the setup on Euro versus US dollar after the pair sold back down to support around 1.12 area as per our trading view chart. Stochastics and support are the main drivers behind our view that the pair is likely to head higher back to 1.125 area before trading around resistance at 1.1260 then potentially breaking higher towards...
Morning traders On what is likely to be a slow day with Japan still out for golden holidays and most of continental Europe out for May day holidays those that are in the market are in a holding pattern for tonight's US central bank meeting. Speaking of which anyone looking to trade USD is advised to ensure their stop losses are well managed and set at...
Afternoon traders, US GDP smashing estimates yet again with a 3.2% growth versus expectations for 2.3% but this pair, Euro versus US dollar failed to trade (and hold) near yesterdays lows giving us confirmation that a near term bottom is in for the time being and that Euro is likely to head higher from here. US GDP is a high impact event and for all traders it...
Afternoon traders, Looking at Aussie dollar taking advantage of the golden week Japanese holiday and its bounce back from oversold status against US dollar. The pair is trading at 100 day moving average (78.85) having found support around low 78 area and the formation of two bullish candles on the 4 hourly highlighted in our trading view chart. This isn't the...
Good afternoon traders, As part of our #SundaySetups we are taking a look at gold and its recent wild ride from 1350 area all the way back to the high 1270s. Looking at our trading view chart we have tried to cut out the noise, zoom out to the daily charts and highlight the support line that Gold has found at the 1275 area. Gold traded sideways for the large...
Good afternoon traders, As part of our #SundaySetups we are taking a look at the good old British Pound versus the Aussie Dollar. Unlike our gold setup we are sticking to our 4 hour favoured time frame and highlighting the formation of a Cup pattern on our trading view chart and potential break out higher for the pound. So looking at our chart we started last...
Morning traders, This morning we have had the Swedish central bank come out and delay interest rate rises with market now pricing no rise until early 2020 (from mid 2019). This has had a secondary effect on the Norwegian Krona leading to a 700 pips drop versus the Euro. We are looking to capitalise on this move into extreme overbought territory and looking for...
Morning traders, Looking at a great short setup on Euro versus New Zealand Dollar on the recent move higher coming up against resistance dating back to early January at the same time as volumes are dying out- suggesting this rally up to the resistance level is running out of power to break any further higher. This coupled with multiple indicators showing...
Good afternoon traders, Looking to position ahead of tonights Australian inflation data which we expect to come in below expectations of 1.5% (yoy) in a similar manner to the recent New Zealand data. Given the data driven nature of this trade we are trading with a tight stop loss just above the previous candle wick high on 17th April. Backing the entry of this...
Morning traders, Looking at a short setup on Euro versus Australian dollar after last nights inflation data out of Australia coming in at 1.3% versus 1.5% expectation leading to a 140 pip spike higher in this pair. The miss on inflation suggests, in simple terms, points to slowing growth and creates a lower expectation of the Australian central bank raising...
Morning traders Placing a short term buy trade on Aussie Dollar versus Japanese Yen on the pair trading down to support levels on declining volumes- suggesting the selling is running out of steam which at the same time is lining up with the pair trading into oversold territory levels. Additionally stochastic is showing, from extreme levels, that the market is...
Morning traders, After overnight success with our Euro versus Japanese Yen trade to the tune of 85 pips profit on top of the Australian Dollar versus US dollar racking up 40 pips profit we are today looking at the British Pound vs Japanese Yen. On our trading view account we have charted out the two resistance channels that we are looking to trade between with...
Good afternoon traders, Looking at an interesting setup in US dollar versus Canadian dollar with a triple top forming around 1.34 with a third attempt to trade above that level failing and pointing to a pull back lower for the pair. More recently we just had slightly weaker than expected Manufacturing data from Canada which failed to give any real boost to US...
Good morning traders, Today we are starting with a look at Aussie dollar and US dollar. After positive Chinese growth data came out overnight- GDP and industrial production both beating estimates- Aussie dollar spiked up to the 0.72 area where it has previously found strong resistance both from the psychological aspect of a round number and this area coinciding...
Good afternoon traders, Looking at a severely oversold New Zealand dollar versus US dollar on multiple time frames. Most appealing to us is the daily timeframe but almost all time frames confirm the oversold nature of this pair after the recent inflation print disappointed. 0.1% versus 0.3% expectation. This led for the New Zealand dollar breaching key levels...
Good Morning traders, Taking a look at US dollar and the Swiss franc and looking on a year to date basis we can see a head and shoulders pattern starting to form, which if confirmed opens up significant downside for this pair. Not only do we have a naked trading pattern forming but we have technicals backing up the trade with multiple indicators pointing to a...