The American Eagle De-Appreciation Before The Appreciation The JPY has been moving quite heft and strong over the past weeks with the Nikkei 225 also doing re-tests so we've got some action happening in the JPY - The USD has been manipulated heavily throughout 2017 with the USD Appreciating more than de-appreciating, but it's come to a level of exhaustion right now and we can confirm that because the market retraced at a resistance, and also broke through a significant event area - A potential 50% Fibbo re-test from the lowest leg till the highest leg on the overall trend, so i'm going to presume that the USD could potentially drop to 110.500 before starting to appreciate in value again.
Kispafx
EUR/USD- Dollar still weakening??Very nice trend trade setup on eur/usd still see the euro bullish with no signs on the dollar strengthening just yet
has formed a higher low on a daily support level of 1.90290 with a 61.8% fib level and a respect of a daily trend line, also formed a inside bar which has broken out of. So plenty of confluence there to take the trade and trade what you see.
Also have a pending order at 1.2000 as i see a breakout at that level
Risk to Reward is 5:1
lets see this play out enjoy.
GBP/CAD Bullish GBP/CAD Has finish a inverse Head & Shoulder Pattern have a strong 4hr support at 1.59406.
You also have a inside bar formation on the 4hr my entry is at top of the dominant bar and stops are at the 50% of the dominant bar. risk to reward is good.
Fundamentally you have consumer price index coming out for the pound which is predicating to be positive.
lets see how this plays out
GBP/USD DOWN TREND CONFIRMEDQuick and simple analysis on GBP/USD.
Fundamental Analysis:
Last week the pound took a hit due to the bank of England keeping interest rates the same (.25%) whilst having a dovish outlook on the economy. We also had the U.S Dollar gain some strength since Friday with N.F.P coming out positive for the dollar (209K) and unemployment rate coming out .1% less than pervious, this has shown us based of fundamental the dollar should gain strength over the pound.
Technical Analysis:
GBP/USD has broken through and retested my monthly resistance of 1.31630 and made its way to 1.30243.
i am looking for a retracement level of 61.8% which lines up with my 4hr support 1.31126 soon to become resistance if the market respect that level. There is a lot of confluence around that price level so lets see how it plays out :)
AudCad Potential Downside Continue??Audcad is looking to continue its down trend from start of April 2017.
Its looks like its finishing its lower high formation on the weekly with a 61.8% retracement,
It also has done a 3rd leg touch on my daily trend line with a strong bearish pin bar rejection, i'm looking for it to come down to my weekly support (0.98318)
Lots of confluence on this pair lets see this play out.