USD strength continues after the FED re-iterated there stance on monetary policy and for a December rate hike to be highly likely. Technically on the USDX price was stuck between a trading range between support of $93.90 and resistance of $97.00. The key here will be to see the close above the key resistance. If we see a clear close above the resistance we could...
In today's video we look at Gold and how it has technically completed a double top pattern. As the USD strength continues we could see lower prices in our commodities with key levels playing important roles.
In this video update we talk about how Brent Crude Oil could continue moving lower if it can hold below the key support at and lows at 70.44. We have been trading short from the highs and looks like price will continue further despite the market looking overextended to the downside.
The FOMC's latest meeting minutes highlighted the data from the US continues to be good and rate hikes are still likely leading to a boost in the USD. USDNOK we had been monitoring around the key support of 8.3000 to see if the market would break or bounce. Since we have seen the market bounce from this area we could be heading for higher prices especially if the...
We have been sitting out of the indices after recent volatility made it difficult to judge the moves. Instead we have decided to let the market find its path before getting involved. The great thing about technical analysis is the strict rules you follow to keep you out of making poor decisions. Before going long we wanted to see the direction confirmed by waiting...
USDSEK often gets overlooked by retail traders as they see this market as having a mind of its own however, this market can be traded instead of the EURUSD due to its strong correlations. If you use the compare tool in tradingview add this chart to the EURUSD chart and you will see when EURUSD goes long, this chart goes short and vice versa. Often the EURUSD can...
EURCHF hasn't performed the way we expected but again it is back into the key resistance of 1.1470 where we could see some downside. USDCHF is at a key resistance and if this holds we could see further downside out of this market. We will only be looking for short opportunities if and only if the 4hr breaks the supporting trendline and previous lows around the...
EUR continues to be our weak currency and USDCAD is stalling at the key trendline resistance suggesting we could see some CAD strength. EURCAD technically has been a bit of a messy chart to work with however the market formed a lower low in price after falsely breaking out of a resistance. Now the market has re-tested the resistance and printed a bearish pin...
USDCAD has been struggling for a while at the key weekly resistance trendline. If you take a look at the weekly chart you can see that the market could not close above the trendline resistance. This gives us an idea that the market cannot sustain buying at this point. Moving to our 4hr timeframe we can see a minor resistance level was broken and close below around...
We have been relatively quiet on the EUR as we expected further downside to come out of the cross pairs involving the currency. We have been anticipating a relief to the USD however which is aiding to the current bid on the EURUSD. Technically we can see that the 4hr timeframe has formed a higher high and looks to be heading to the key resistance at 1.1540....
WTI and BRENT has been a great source of trades for us this past month and downside looks likely to continue however we would like to see the market retrace after breaking through the key support level around 64.80. Seasonally Crude Oil through the end of November to the middle of December sees significant downside which lines up with the technical analysis...
We have been monitoring USDMXN for a potential short opportunity as the USD looks to be failing to move higher. We have seen price move higher as of late due to the increase of interest rates in the US however we are now at a key resistance zone. Looking at price it printed a head and shoulders pattern at the key resistance potential showing further downside to...
Just as with AUDCHF we have been trading this market long successfully and now we are approaching a key resistance up at 0.6720 with 1.618 Fib extension confluence. This market is almost mirror imaging AUDCHF and could be traded instead of the AUDCHF pair. Again counter-trend traders here could look for short opportunity back into key highs. Look for double top...
AUDCHF has been on our watchlist taking long trades from key support successfully. We are looking to continue the uptrend currently however the market looks to be over-extended as it heads towards the key resistance of 0.7280 which also holds a 1.618 Fibonacci extension. We wouldn't look to buy here as it sits at a key resistance however we could look for the...
We have been talking about NZDCAD upside for a while and in our previous post talking about a long trade into the resistance shown in the trading idea. Now we have seen the market complete an inverse head and shoulders pattern and looks likely to continue higher. We are now looking for the market to consolidate at the supporting neckline of 0.8660 where we could...
We had a great trade on EURAUD recently and could be set for another move lower. AUD Non-commercial long contracts gained by 11% this week showing the big money traders are looking for the potential AUD to gain in value. EUR still looks to be suffering from Italy problems and concerns of Brexit still weigh heavy here. Technically the market on the Weekly...
We have been talking about NZD strength for a while now as the Long contracts saw another boost this the week from the Commitment of Traders Report. Looking at the market technically we can see price has created a higher high on the daily chart. This indicates we could see further upside to come. Looking for a retracement into the previous daily highs with...
AUDCAD has been on our list for sometime also as it tested a key area of support around the 0.9100. We have been waiting patiently for the market to break and close above the key trendline resistance and previous highs around 0.9370. A retracement into the highs would be ideal to look for a long opportunity into the key resistance of 0.9600.