EURGBP has found support at the weekly breakout highs and with GBP likely to continue to weaken we could see a rally in prices. If we see a daily bullish close we can look for intraday long opportunities into the previous daily lows.
In this video update, we take a look at NZDUSD in more depth as the price has rejected the key demand zone. The reason we entered this position in the first place was due to the significant build-up in long contracts on the commercials. Technically price formed a bullish inside candle at the key demand zone with RSI divergence.
The weekly timeframe on the GBPUSD shows price forming a bearish doji at the key lows and resistance. The last time we had a commitment of trader signal we saw the weekly timeframe form an inverse head and shoulders at the key lows which we could see form again.
In this video update, we take a look at our current open positions to give an update of where we are at. EURAUD has moved significantly towards targets as well as AUDJPY. The daily timeframe suggested the AUD was going to weaken and we are seeing that play out at the moment. USDNOK remains bearish and was close to targets before rebounding, looking for the...
Will today finally bring some direction to the USD? The federal reserve is set to cut interest rates by 0.25%, but the language they use will be more important. If the fed decide to be more aggressive with future rate cuts we may see the USD weaken significantly. Even if the fed use hawkish comments we are likely to see President Donald Trump try to continue...
In this video update, we take a look at NZDUSD as the commitment of trader reports are highlighting the commercials increasing their long positions suggesting they think the NZD is at a good value to buy. NZDUSD technically is bearish and we would need to see price approach key support levels and reject in order to look for long positions.
Last week on tradingview we discussed a potential short opportunity on CADJPY as technically price found resistance at the head and shoulders pattern neckline that formed in July. This weekend we saw the news of Saudi Arabia's oil refineries being attacked which could move the market into a risk-off sentiment with safe havens such as JPY benefitting from that. We...
The commitment of trader reports is showing large commercial short positioning on Gold and Silver. Gold in particular shows short contracts at all-time highs, this is significant for us to sell Gold on any rallies. Looking at the Gold chart price is re-testing the double top neckline where we can look for short opportunities. On Silver, we need to see the price...
In this video update, we break down the AUDJPY market as we expect to see this market reverse from the weekly swing lows. Price being at this resistance level usually leads to a trend continuation move so we will be waiting for significant price action here to look for short opportunities.
EURUSD is at a key technical level where technical traders will be looking to short the market. However, fundamentally we expect the USD to weaken as the USD comes under pressure from President Trump and the Fed. Price on the 4hr timeframe is currently consolidating and a break of the range will be key to identifying the sentiment.
The USD looks likely to move lower across multiple pairs and in this video we highlight the currency pairs of interest. USDCAD is high on our watchlist as well as USDNOK and USDSGD as these currency pairs are lining up technically with our bias.
In this video update, we take a look at Gold and for the potential for price to start moving lower. The CoT reports are highlighting a significant build-up in commercial short contracts at current levels. Not only this, technically the impulse moves are getting short and shorter and the price is failing to make higher highs and higher lows. The RSI also highlights...
In this video update, we take a look at our open USD trades and what is happening on the USD Index as the value of the USD moves lower. Seasonally the USD is short through this period and looks likely to continue through until october as the Fed is weighing up a rate cut.
EURAUD has been on our radar for some time and with the weekly timeframe forming a significant bearish engulfing candle off the key highs, we could expect some downside to continue. Looking for 4hr trading opportunities off the moving averages with targets being the daily trendline support.
The DAX appears to be forming an inverse head and shoulders pattern where we may see a reversal in the current bearish trend. The weekly structure lows are offering support currently and daily price action suggests we could see an inverse head and shoulders pattern form. A break and close above the neckline will allow us to look for long opportunities.
SILVER continues to climb however is approaching a key resistance level. The CoT reports show that the commercials are increasing their short positions, however, they are not decreasing their long positions suggesting the price will move higher.
GBPCAD has re-tested the inverse head and shoulders neckline and formed a bullish higher high, higher close from the level and averages. We could look for a long opportunity here with 1st targets at the highs and second targets up at the weekly resistance of 0.6585.
USDCHF formed a bearish engulfing candle on Friday as President Trump tweeted about imposing further tariffs on China. The risk-off sentiment looks likely to continue this week with USDCHF gapping slightly on the open. We are looking to sell this pair in line with current market sentiment.