We will be watching to see if GBPUSD can regain its bearish momentum before the Fed announces interest rates on Wed. Although the street does not anticipate any move by the Fed, they may give a hawkish tone and if so that should add fuel to the short side. With that said we will be looking for a close below the short-term trendline on the hourly chart along with...
AUDJPY could be getting ready to rally once again. The long-term trend on the hourly chart is to the upside, if we get the proper setup we will be going Long AUDJPY and correlating it with a Short in NZDJPY. With proper money management while correlating these pairs it will present many opportunities to be a profitable trade. We can be dead wrong on the AUDJPY...
EURJPY could breakdown tonight with a close below our short-term uptrend line. If we get that close in conjunction with our proprietary price forecasting algorithm we will be taking EURJPY short along with a Long position in CHFJPY which will provide a correlation opportunity. By correlating EURJPY with CHFJPY we will be greatly reducing our directional risk...
Possible short to our downside targets of 1.28600, 1.2700 then possibly 1.25500 our “D” Extension target. We will be entering our trade on the break below the trend line.
Current spread is 550 Pips, the widest since mid June 2015. We will be going Long USDCAD & Short EURCAD These pairs have been 70% to 96% correlated during the past year. Since they have been recently become uncorrelated we expect the correlation to return shortly. EURCAD is approximately 25% more volatile than USDCAD therefore your position size for EURCAD...
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USDJPY breached the 110.000 level but no follow through as of yet and the bounce from 109.950 is seen consolidating the fall from 113.800 high last week. A bounce to the 112.000 to 112.500 level can not be ruled out and if seen should be taken as an opportunity to short this pair. Support can be found around 109.700 but if breached before we see a rebound to...
EURCAD is forming a wedge/triangle on this daily chart. Of course price can breakout in either direction but I won't be surprised to see it break to the downside. Relative Strength Divergence is indicating this pair wants to run lower. Keep an eye over the next few days and into next week. We will wait for a daily close below or above one of the trendlines...
EURNZD has been consolidating for the past 10 months, getting closer to the apex of this triangle. A breakout could occur in either direction, we will be waiting for a close above or below the trendlines created by the consolidation. The closer the breakout occurs to the apex the stronger the potential move can be when it happens.
GBPUSD could go either way, although the long-term trend is to the downside but one should not rule out a move higher. As traders our role is not to GUESS what the market will do, rather it's to recognize what the "smart money" is doing and simply ride their backs. With that said we will be ready to take a swing trade in either direction. We want to see a close...
EURJPY is getting ready to break one way or the other, although the long-term trend is to the downside we can't rule out a move higher. Our algorithm will be watching this pair and giving us an update on a daily basis. We will be waiting for a close above the green downtrend line or a close below the red uptrend line. Ideally we would like to get a reading from...
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With Oil prices hitting new lows every now and then, it’s hard to believe that pump prices in Singapore barely move an inch while the Energy Sector’s valuations have been dropping. The Sector’s performance move in tandem with oil prices, as higher prices would allow them to realise more revenue. That equates to more funding for oil exploration, but with oil at...
Targeting resistance at 1.1387. • EUR/USD keeps on pushing higher. Daily resistance lies at 1.1387 (20/11/2015 high). Hourly support may be found at 1.0711 (05/01/2016 low). Yet, expected to show further increase. • In the longer term, the technical structure favors a bearish bias as long as resistance holds. Key resistance is located region at 1.1453 (range...
Strengthening. • EUR/USD keeps on pushing higher. Daily resistance lies at 1.1387 (20/11/2015 high). Hourly support may be found at 1.0711 (05/01/2016 low). Yet, expected to show further consolidation. • In the longer term, the technical structure favours a bearish bias as long as resistance holds. Key resistance is located region at 1.1453 (range high) and...
GBPJPY WEEKLY BUY GBPJPY WEEKLY BUY OPPORTUNITY, WELL IT WILL BE RETEST FOR SHORT,
USDJPY broke below major support by closing under 118.40, a level that supported the uptrend on a closing basis for over a year. Not Including the late-August whipsaw low of 116.18, this creates a sequence of lower highs and lower lows. USDJPY’s multi-year uptrend is ending. The current trend is increasingly likely to bounce, and we recommend selling strength. We...
-Possible bullish Harmonic pattern forming -Bearish MA cross over - Channel Completion on 4 hour time frame - Possible ABCD downside formation. Once each target has been met management must take place. If 88.600 is breached then the trade is no longer valid, upside targets highlighted in Red.