In this video update, we take a look at EURUSD and USD Index to continue looking for the USD weakness. Price on the USD Index has recently tested 96.00 which could see some buyers step back in short-term into the previous structure lows. EURUSD has broken higher and is heading towards a key supply zone where we could see price retrace into the key highs before going long.
In this video update, we discuss the S&P500 in more details and what will happen to market sentiment if price bounces or breaks. We believe if price bounces we could return to a risk-off the sentiment with safe haven currencies benefitting. If price breaks above we could see a significant move higher again.
In our previous oil post, we talked about buying oil into the $57 resistance. Now the price has approached this level we could potentially look for a 4hr short opportunity back into the previous daily highs around $55.
We recently discussed a long opportunity on OIL and as prices push higher we could look to buy the Norwegian Krona. The USDNOK has formed a lower low on the daily timeframe and could head towards the key weekly demand zone. We will be looking for retracements into key resistance zone for short opportunities.
In this video update, we digest what happens with the FOMC and look at what can happen next for the price of gold. We expect further upside out of this market and are looking for retracements back to the key demand zones.
EURUSD is potentially forming a lower high on the 4hr timeframe with price forming a bearish candle off the trendline resistance. We could see another opportunity to short here with stops above the highs...
We are looking for the S&P500 to run up into the key resistance of 2950 before asking ourselves the question, break or bounce? If price breaks higher we can see the stock markets moving considerably higher in the near future however if we see a bearish candle at the highs we could see a similar fall to what we have seen recently. This zone will be key for trading...
In this video update, we discuss the two scenarios ahead of this meeting and what could happen if the Fed discuss further cuts in the future or if they downplay the need to cut rates going forward. Inflationary data suggest a cut is likely but will FED chair Powell want to open the flood gates for the USD bears. We are not so sure...
Looking at the weekly chart price is currently rejecting the key level of 61.26. If we see prices rise as the market shifts back to risk on we could see oil prices rise into 67.40 resistance.
The USD Index is currently testing the key double top neckline and 38.2 fib. We expected the price to test reject this zone from a technical point of view and if the daily chart closes below this level we could see a continued sell-off. However, the FOMC is set to announce rates and all eyes will be on the Fed's next steps. If they are dovish and mention more than...
In this video, we take a look at NZDCAD as price rejects the key demand zone. NZDUSD is currently at support and despite the recent USD strength is holding at the level. USDCAD is trading back above 1.3400 highlighting the weakness in the Canadian dollar. Looking to this chart we could see a swing trading opportunity from the current levels to the key resistance.
Technically EURAUD was at a resistance level and price rejected forming an inside pin candle. We looked for a mean reversion trade here back into the daily highs before seeing an impulse higher. Unfortunately, the Aussie has continued to weaken into today's session also stopping us out of our position. With the CoT reports highlighted a 106% rise in short...
In this video, we highlight the potential reversal to come to the Swiss Franc and what we need to see in order to execute our bias. The Swiss Franc has been the strongest currency of late however a large majority of the CHF pairs are at key demand zones. The CoT Report shows long contracts decreasing and short contracts increasing. This could lead to a reversal.
Yesterday we spoke about the USD remaining bearish and despite our overall view remaining the same, the retail sales data has driven the USD Index back above the key 97.30 resistance. We may see another rally back into the $98.00 highs where price could form a triple top pattern before breaking lower. The retail sales for the month of may recorded an increase from...
Gold has recently tested the $1350.00 resistance and is currently rejected. The recent CoT reports highlighted an increase in short contracts if price closed below this key resistance we could see a short-term fall in price.
Looking at the DXY price is approaching the key lows around 97.30. If price tests this area we could see some weakness re-enter the market. Recently the USD has shrugged off recent poor data showing some buyers are still willing to prop the USD up. However, we don't expect this to last as long as price can reject the key lows.
In this video update, we take a look at EURAUD as the price approaches a key resistance level. Previously in the past, the market has sold off aggressively here as sellers re-emerge above the 1.6330 level. If price prints a daily bearish close we can look for short opportunities here.
EURCHF has recently rejected the range lows and looks to continue within the range. If price heads back towards the range highs we can look for long opportunities on the lower timeframes. We will be looking for long opportunities on the 4hr timeframe in line with the weekly timeframe. A lower USD price could help push the EURO significantly higher.