In this video update, we are taking a look at NZDUSD as the price is breaking into new highs on the daily timeframe. Now that price is breaking higher we can look for potential add in trades on the lower timeframes. We already hold a position on the daily timeframe from the initial bullish engulfing candle. We are expecting price to test the April highs around 0.6700.
The DXY has started to fall again as the US consumer price index fell short of expectations. This move has been highly anticipated and we could start to see a shift in USD sentiment if we break the current daily lows at 97.55. A close below these lows will suggest that the USD could continue to fall further.
As we can see from the 4hr timeframe here, GOLD has surged this afternoon almost breaking into new 4hr highs. If we are to look for a long opportunity we need to a higher high, higher close. Then we can look for a long on pullbacks. 1st targets will be the $1303.00 highs.
USDCHF is potentially about to see another move lower as it forms a double top on the 4hr timeframe. The weekly chart does remain bearish here and with the USD Index at the key resistance, we could see some short-term USD weakness re-enter the market. A break below the trendline support will allow us to look for further shorting opportunities.
In this video update, we take a look at CADJPY as the price has found support at the weekly demand zone. We have been looking for JPY weakness for a while and with the stock markets finding some relief a sell-off in JPY was likely. On the 4hr timeframe, CADJPY needs to break the highs. If this was to happen then we could expect to see the price increase further.
As cryptos start to find their way again Ripple has yet to break out of its long term resistance. Will the market bounce at this resistance or break? If bitcoin can stay above $7000.00, then a breakout here is more and more likely. What do you think will happen? comment below.
Looking to the US stock markets we can see that the risk off sentiment continues. Price has recently broken the weekly lows and we should expect this to continue until the market shows otherwise. We could see this sentiment continue to the lows of 23560.00. If this happens we could see GOLD and JPY continue to rally. Keep an eye on the stock markets as they will...
In this video update, we take a look at GBPJPY as price enters the key demand zone. The recent CoT reports show that the speculators have increased their longs at this area which could show us a sign of a reversal. Typically speculators are wrong in the market and a switch in sentiment increases when they add large positions. Wait for the daily close to offer...
The USD is currently pushing back towards the key highs. With price consolidating, we could expect to see another rejection of these highs. If price closes above the key highs then our idea will need to change in line with the market sentiment.
Looking at the USDNOK weekly chart we can see that price rejected the key weekly highs. Despite the fall in Oil, the Norwegian Krona performed well, this could be a sign of strength to come. We will be watching the 4hr timeframe for shorting opportunities in line with the weekly timeframe.
In this video update, we take a look at the currency pairs high on our watchlist. We have previously looked at the New Zealand Dollar as we are expecting to see some strength from the currency. We take a look at NZDUSD, EURNZD, NZDCHF, and NZDJPY.
This week we shorted USDCHF in line with our CoT signal. Price is close to our targets so we will be closing the position before the end of the week. We could see some further downside to this pair if we see a break and close of the key weekly level of 1.0000.
Kiwi has started to move higher across the board as it benefits the most from this current USD weakness. NZDUSD has been on our list for buying opportunities for a while and we could see our plans come to fruition. We are looking for price to close bullish in order to look for long opportunities.
EURGBP has recently had 13 bullish days in a row with the downfall in GBP. However, the price has now stalled at the key highs here and with GBPUSD being over-extended we could see a sharp pullback. Currently, the daily candle is bearish and if we see a bearish close we can look for short-term trading back to the support.
In this video update, we take a look at EURUSD as price reacts from the key lows yet again. This is due to a sell-off in the USD as the USD index reacts from the weekly highs. This current price action suggests we could be forming a double bottom pattern. If the daily candle does close bullish look for short-term long positions into the trendline resistance.
Earlier today we expected to see CAD retail sales come in better. This happened and USDCAD broke out of the trading range for the first time in 22 days however that was short lived as the crude oil inventories disappointed. We were looking for the break if the oil inventories were good as this would add weight to the Cad long. However, the price is now back within...
In this video update, we take a look at Silver as price consolidates after a significant drop. The commodity didn't hold at the key support zone of 14.90 and has continued to push lower. The next demand zone sits at 14.16 and could be where Silver moves too. Looking to the 4hr timeframe we have a couple of opportunities if price can retrace back to the lows or...
In this video update, we take a look at a swing trading opportunity on Brent Crude Oil. The Weekly chart suggests we should be looking to buy the commodity with resistance back up at the weekly highs of 76.00. The 4hr timeframe has re-tested highs and if price forms a bullish breakout of the CTL we can look for long trades.