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Weekly Perspective (Ozzie Canadian Dollar)Hey Guys, The pair heads its way towards the north with a strong bullish engulfing candle inside the channel reverses the downside risk. Softer AU CPI adds to softer commodity export prices and weighs on AUD,limiting any rebounds.RBA policy remaining on hold for a prolonged period is also underscored by low core inflation.Recent CAD weakness may turn as Trump’s focus turns from tinkering with trade tariffs to focusing on tax reforms without Border Tax Adjustment.Oil may stabilise as OPEC arrange to meet to discuss extending production cuts. Note: Everything works with Best money management. Note: Please leave comments for any query. Disclaimer: Trade at your own risk. Good Luck...!! Regards, Growing Forex Team
Long
by GrowingForex
Weekly Perspective (Euro Ozzies)Hey Guys, The pair is currently in the strong move towards the north. The pair posted a 18 months low and reversed the surge towards north.It also broke the 18 months trend line that released the downside pressure the pair was facing.Due to the political uncertainty and the French Election that supported the Euro was the major reason behind the break of the 18 months trend line after that it formed a continuation pattern.It is more likely this pair will form many continuation on its way up.There can be a dip in the coming days and that would be the entry for those who missed the opportunity to enter. Note: Everything works with Best money management. Note: Please leave comments for any query. Disclaimer: Trade at your own risk. Good Luck...!! Regards, Growing Forex Team
Long
by GrowingForex
2
Weekly Perspective (Ozzie Kiwi)Hey Guys, If you reviewed my previous ideas by know you know the correlation in the pairs.As you know we are looking for a breakout on the way up in AUDUSD and we know that the kiwi is going to be strong in the coming days. Technical the pair has completed its move southwards and is headed north so i'm looking for continuation patterns to enter every time they form or to move the stop losses if you have any.The previous week was a strong one for AUDNZD but the correlation was different the ozzies were weak the kiwi was weak the pair of AUDNZD was more likely going to fall but the perspective changed the whole idea now we have something different in our charts show us that the downside pressure will be easily diminished as soon as the price crosses the previous high. Note: Everything works with Best money management. Note: Please leave comments for any query. Disclaimer: Trade at your own risk. Good Luck...!! Regards, Growing Forex Team
Long
by GrowingForex
Weekly Perspective (Cable) Hey Guys, The Cable likely to extend its bullish momentum on GDP figures.It has been rising from Mid March & soon you guys will see an exhaustion on this pair make sure we are ready to grab valuable pips.The pair major continued scaling higher and refreshed multi-month highs. Spot prices held above the 1.2900 handle as traders now look forward to the first estimate of the UK GDP growth figures for Q1 2017.As the reading is negative upside risk is minimum but the pair can refresh multi months low in the year ahead. Technically, the pair seems to have confirmed a fresh break out and is trading above a strong hurdle, marked by 61.8% Fibonacci etracement level of 1.3445-1.1980 Down slide.On the flip side, immediate retracement below 1.2885 level might now find some fresh buying interest at a previous resistance, now turned support, near 1.2860-50 zone. Weakness below this immediate support levels might prompt additional profit taking and drag the pair back towards the 1.2800 handle, which if broken might impugn near-term bullish bias. Note: Everything works with Best money management. Note: Please leave comments for any query. Disclaimer: Trade at your own risk. Good Luck...!! Regards, Growing Forex Team
Short
by GrowingForex
Weekly Perspective (Euro Canadian Dollar)Hey Guys, The pair is currently trading higher with a gap towards the south that may be the major risk factor in the coming weeks.The question is will it fill the gap or it will just continue to rise ?.After a continuation pattern the pair posted some modest gains and is headed towards north.Moreover the French election would be a boast to the Euro or it can be the worst nightmare.By looking at the current trend and the bias,there are no signs of any bears at all it is purely bullish. Note: Everything works with Best money management. Note: Please leave comments for any query. Disclaimer: Trade at your own risk. Good Luck...!! Regards, Growing Forex Team
Long
by GrowingForex
Weekly Perspective (Kiwi)Hey Guys, The kiwi reverses its gains, Having posted a session high near 0.6890 region, the NZD/USD pair ran through some fresh offers and drifted into negative territory for the fifth consecutive session.The pair extended its bearish slide through the course of current trading week and is now headed back to nearly 10-month lows touched in the previous session, despite of the frequent negative sentiment surrounding the greenback.In fact, the key US Dollar Index has now dropped back closer to 5-month lows touched earlier this week and hence, the latest leg of the pair's downfall in the past hour or so could be solely attributed to rising treasury bond yields, which tends to drive flows away from higher-yielding currencies - like the Kiwi. Technical levels to watch : A follow through weakness below yearly lows support near 0.6850 level is likely to get extended towards testing the 0.6800 handle ahead of 0.6775 horizontal support.On the flip side, any recovery attempts beyond the 0.6900 handle, leading to a subsequent move above 0.6920 level, is likely to trigger a short-covering rally even beyond near mid-0.6900s back towards the key 0.70 psychological mark. Note: Everything works with Best money management. Note: Please leave comments for any query. Disclaimer: Trade at your own risk. Good Luck...!! Regards, Growing Forex Team
Long
by GrowingForex
Weekly Perspective (Guppy)Hey Guys, GBP/JPY continues sharp breakout flow on Thursday to hit its highest level since early-February, extending the sharp breakout move that has been in place for more than a week. This breakout was initiated last week on April 18th, after UK Prime Minister Theresa May called for a snap election to be held in June.This political move was undertaken so that May could secure a solid mandate to deal with difficult negotiations with the European Union as she sees fit, amid the ongoing formal process of UK/EU separation. The pound rose sharply on that announcement due in large part to the fact that May’s Conservative Party remains far ahead of the Labour Party in polling. This would then promote greater stability for both the UK and its currency.As the pound has continued to rise in a relief rally, the safe-haven Japanese yen has fallen sharply for more than a week as a strong, risk-on environment has taken hold of the markets. This has especially been the case after this past weekend’s first round of the French presidential election, which showed the market-friendlier Emmanuel Macron gain increasing support over his far-right rival, Marine Le Pen.During Declining Brexit concern that has alleviated pressure on the pound, as well as decreased risk aversion in the markets that has reduced demand for the yen, GBP/JPY has correspondingly been boosted sharply to break out well above a key downtrend line extending back to December’s 148.00-area high. This surge has been sustained up to Thursday and could continue to drive GBP/JPY higher, barring any UK political surprises or major market-disrupting events on a global basis. The next key upside resistance level is around the 145.00 area. With any further breakout above 145.00, GBP/JPY could once again begin to target the critical 148.00 resistance objective. Note: Everything works with Best money management. Note: Please leave comments for any query. Disclaimer: Trade at your own risk. Good Luck...!! Regards, Growing Forex Team
Long
by GrowingForex
NIFTY 50: Powerful uptrend, buy dips, buy breakoutsThe NIFTY 50 index has showed nothing but sheer uncorrelated strength this year. The trend remains strong, and the market has acknowledged the weekly uptrend mode support here. If during the next 2 weeks, price doesn't drop further, we can long it safely. If we break above 8831.55 before that time runs out, bears will be in trouble too. Keep an eye on the uptrend slope, indicated by the speed line under the current prices. This line has to hold if we see a retracement. You can use an ATR based stop loss to trade this trend. 3 times the 11 period ATR value is a good start. Right now, we can buy on a break above Friday's high and stop at Friday's low. There's plenty of time to get further bullish confirmation, don't risk over 1% on any given trade. Good luck, Ivan Labrie.
NSE:NIFTYLong
by IvanLabrie
2
Nifty updated count [Pls read description before foll. arrows]The Nifty uptrend continues. The 1st target of 8770 is achieved. It's just that the structure formed is slightly different than the one shown earlier (previous ideas links attached). The updated one is shown in the chart. However, SLs and targets remain the same. Now, the SL is 8540 (from 8515). Any pullback can be bought at the fib retracement levels of the current up move. IF there is a retest of the 0-b trendline of the corrective structure (as shown by the dashed arrows), then it'll be another great opportunity for adding longs (like it happened on 8 July 2016 shown by the bold arrows). Else , the up move will continue. Do not short anywhere. Targets are 8860, then 9150. Basically, just be alert once Nifty reaches the UTL. Any move below the LTL (which may or may not happen) could result in the start of the correction of this entire up move, but till then trend is up.
NSE:NIFTYLong
by tushargupta1991
1