Simple trade- support line from November that has been tested on multiple occasions coming back into play at these levels. Additionally pair looking oversold on short term basis post better than expected US GDP data. Looking for a retest of 1350 area into mid March
EUR failing to break 1.14 on EURUSD again taking it lower on that pair and likewise failing to breach high from early February. More poor growth data out of Europe with sub 50 Manufacturing PMI data. Pair also running out steam at top end of RSI range
Short on gold earlier as descending trendline continues to hold allowing us to trade the range down to low 1305 area
Looking for close above 97.15 area to confirm DXY dollar index is going to break higher after forming double bottom since start of the year. If close above is confirmed then looking to target Dec highs around 97.66 area. Should it pull back and close below 97.00 we make look to short USD and USD pairs Dollar is currently having its best continued daily run in...
Buying EURCAD here on hold of hourly support line since we tested Fibonacci support (from start of year high) on 5th of Jan. Even with German govt bonds breaking lower (bund breaking support level since 2016) the hourly support line has so far held. Looking for a move higher to the next Fibonacci resistance level (higher purple highlighted line). Risk to downside...
Looking for XAU to bounce from here to 1314 area before resetting short down to 1300 area. Expecting market to follow A-B-C waves. Should it fail to bounce then unlikely to chase the market lower
Higher risk trade given Brexit headline risk but pair pulled back to lower trendline before bouncing- looking to trade the range back towards 1.32 area whilst keeping stop just below yesterdays lows
Poor AUD data overnight with building approvals dropping 8.4% for the month of Dec vs expectations of +2% took AUD down overnight leading to a 40pip bounce in GBPAUD. The pair is in process of forming head and shoulders with the spike on poor data failing to breach the neck line at 1.8100 area. This is now the third day in a row to fail to break above 1.81 and...
After EUR hit our downside target of low 1.13 on European Central Banks press conference where Mario Draghi emphasized the negative outlook for growth prospects with Germany and France data souring. Pair now bouncing off downside support dating back to November and trading around 23.6% fibonacci support line. Looking for a bounce higher to 1.15 area after market...
Sold USDCAD but idea was removed due to breaking house rules- have reuploaded, we sold after NFP numbers looking for a repeat of USDCAD pattern we saw in early 2017 and a retrace back to 1.28-1.29 area.
Trade we have had on for a while- continue to like short EURNOK on poor EUR growth and interest rate differentiation vs Norway. Highlighted two declining trendlines as well as Fibonacci support areas that we are currently trading around. Head and shoulder pattern with right, declining leaning shoulder highlighted by the trendline.
Short EURCHF on pair trading at resistance level dating back to November, tested and failed to break 3 times this morning. Break out above 1.1360-65 and resistance is broken and time to go long. Targeting low 1.13 area on pull back
Higher risk trade- looking for support line from October to hold after a series of bounces from 21st of Jan as we continue to see negative stories around US govt shutdown (Washington Post last night with talk of closure until March/April) and further negative global growth data- European PMI data this morning again coming in below expectations. From that 21st of...
short term trade on USDCAD.. selling into month end where we typically see USD weakness, trade on hourly charts as above- targetting low 1.3210 area after three failed attempts to the upside to breach downtrend line from last Wednesday. Intraday vol is heightened across most markets so this is a quick short term 48 hour max timeframe trade.
Back at upper support line from long dated downtrend at 0.72 area on AUD and looking for pair to head lower towards mid 0.70 area before giving way for a retest of 0.69. Risk with this trade is if we get a US/China trade deal locked in before our trade has time to run lower on continued global growth fears and domestic housing problems for AUD. The move last week...
Sell USDTRY on continued US govt shutdown and poor global growth data lowering the chance of US central bank raising interest rates further. Rates markets including cash and derivatives are pricing in at most 21% chance of a rate hike from summer 2019 onwards. Why does this matter? Emerging markets fund their budgets in USD and as US rates increase EM funding...
First attempt at posting on here so bear with us and expect improvements as we publish more and get used to the screens and functionality Long EURCAD after bouncing off short term Fibonacci support from YTD high last week looking for a move higher into ECB meeting on Thursday (super mario effect), Canadian retail sales later today and Canadian GDP next week....