After the Kiwi bouncing nicely off of the lower bound of the 3 month trend on the D1 chart we have reached our first profit target upon breaching the R1 pivot for ~30 pips. Now eying the 200 period SMA next and ultimately on upward to the loose triple top culminating in a total gain of ~140+ pips!
This morning the CAD rose sharply against the euro and the US dollar, presumably this was anticipatory of better than expected GDP released ~1hr later. (which interestingly I noticed happening on another significant CAD event, maybe I'm paranoid but maybe a common information leak? I'll certainly be keeping an eye on it.) The pair managed to reach the lower bound...
The dust is settling after the RBNZ dovish interest rate announcement and the pair managed to make it all the way down to its lower bound of the current trend. We have clear hesitation, but also a clear failure to maintain upward midday momentum. Keep an eye out for movement when the Asian session picks up in a few hours, we may see a decisive break downward, but...
Now that the anomalous interest rate shock last week has subsided we have seen the pair react in accordance with breaching the upper bound of its ~3 month trend. The pair has moved smoothly within the lowest band of the 1+2 double bollinger bands on the 4 hour chart since breaching the -1 line nearly 48 hours ago. I believe we may be set to continue this...
Will wait for interest rate announcement later today. RBNZ expected to maintain at 1.75%; if the rate goes up this setup is invalidated, otherwise expect a near term reversal with an initial profit limit placed at .685.
In my previous post we had formed a double top on the H1 and H4 charts (blue line here). The line was broken early this morning but the daily candle has failed to remain above resistance, and has begun to form a bearish pin bar potentially signaling an end to last week's rally. Will be watching for today's candle to close below resistance at ~1.134 in order to...
We've seen price remain within a consistent channel since the first of the year. After the previous week's rally we've begun to approach the upper bound of this channel as well as the 50 day SMA. Yesterday we saw the first daily decline since last week, and saw a brief correction culminating in a possible double top formation at ~1.1330, followed by a failed...
After yesterday's closing on a bullish pinbar (signaling continuation in this context) I expect the pair to continue upward for the near term. Upon reaching the 200 day SMa we will have a Sell signal expected to last ~1 week. Wait for reversal confirmation on the daily chart watching for a close of the daily candle following a breach of that resistance zone, as...
See my chart. We have converging signals from testing the lower bound of the upward channel as well as the 200 day SMA and a nice bounce off of the BB center line. Clear profit target around 112.40. Watch out for BOJ event risk on Thursday 14 March!!!!