Will ECB take any action today and bring the euro down, or will let it burst above 1.4000. From the technical point the price has drawn a Rising Wedge which broke the down trend line. This along with the negative divergence on the 28 periods RSI give a strong sell signal. A break below the lower line of the pattern would be a good confirmation for the signal. If...
The Aussie is moving in a broad range from .88 to .96 which is a range lower than the prior range from 1.10 to .96. In this current broad range there is a support/resistance level in the .9250 area. Price formed a long legged doji (spinning top with a doji center) which describes indecision and a chance for a change in direction. With the recent up move prices...
Wheeler, RBNZ chairman, said that the kiwi got strong despite New Zealand's fundamentals. A strong NZD could bring problems to the country's economy and the central bank might start selling some $N. The currency reacted pretty fast and fell back under 0.87. From the technical point of view we can see a very good resistance at 0.8743 and a negative divergence on...
So, price rallied, tripped the stop loss orders at 0.93157 and retreated. The RBA minutes are a lot more easier to read/understand. While 3/4th's of the minutes is just the usual crap, the last 2 paras was where the Golden egg was. "Aussie still high by historical standards" 1. Its funny how traders ignore the very obvious. Last year someone from RBA commented...
Pair found bottom after downtrend and sentiment changed to the upside. Now it is flagging/consolidating. Need some catalyst to attract more active buyers and investors. Interest rate decision tomorrow could be one of them. I will put feeler here with STOP below support zone at $0.92500 and will ADD more through $0.93000 on break up of "handle". Potential TARGET...
I am still waiting for an up break, at least before the ECB monetary policy meeting from Thursday. Even though the Euro got pretty strong for the European economy to be handling, nobody seems to be interested in the US dollar. On a short time frame, I would see a break above 1.3890, followed by a 50 to 60 pips rally.
This chart was posted 19 days ago. A quick update is due. We hit the upper red channel as planned and had a nice 250 pip pullback since then. There's a good chance that we are going to retest the upper red channel and perhaps even pierce it.
Boring as it seems, NZDUSD looks bullish once again. Probably heading for any the media lines or at least to the prior (or alternate) highs. Failed to retrace even by 38.2%. The 0.85 level proved to be a very strong support so far. Now it might also move up in lockstep with AUDUSD. The NZD is currently very strong, while the USD just the...
Whilst grinding lower, the Aussie has failed to make significant headway to the downside. A sharp selloff on Friday was met by equally large demand, erasing the entire move as the Aussie went Bid. Whilst we understand that the majority of major inflection points are not always pretty, clean cut breaks, Friday's development indicated that the AUDUSD market appears...
Global 100 index shares of largest companies at 2,618 off of 2012 lows and 3.14 pi time this coming week, if we connect the two lower closings of 2011. At the top of the 3 year up trending channel again, where price has been rejected 5 times so far. Cheers, Panos
Short NZDUSD 0.8690-0.8700 SL 40-50pips TP1 0.8550 TP2 0.8250
This is an update for my previous idea: This market has completed a triple zigzag correction and it's heading lower by the looks of the recent price action. I will look to sell a three wave boune near 102.40/60 against last weeks high at 103.005. Follow all my demo trades at www.myfxbook.com and follow me on twitter for intra-day updates twitter.com Good luck!
Friends, TRADE PROFILE: Only three days ago, I took the opportunity of a long entry based on a daily chart which confirmed support near the 87.350 level. A layered analysis comprising my prop predictive analysis and forecasting favored a bull directional bias with a series of bullish targets of moderate-probability quality. Despite being a technical analyst, I...
Alright guys... so this NFP was a real test of the nerves. Where do we stand? Shorts from 0.93882 can cover stops to 0.93157. What we're looking for... a neat close below 0.9222 (which is the low of previous NFP). Looking at past candles around NFP, it will take a day or two for price to hit the target. We're looking at 0.912 - 0.915. Next update closer to...
Notes on chart. 1.4 is a very nice round number and surely there should be good sell orders sitting there. For now, a retest (IF there will be one) to 1.38 should be a safe bet to long targeting 1.40. Watch for ECB official's comments when Euro reaches 1.4 Focusing on longs for the moment
Now it really depends on how Euro reacts to this important pivot. Today I offer two scenarios, one for long, one for short. LONG SCENARIO: The price is now re-testing 1.3878 and provided that Eur remains strong, it will reverse up and head for another pivot at 1.3900. Traders should look for any sign of strength in the current pullback to join the pair in the...
Friends, A lot of paper printing has been going on since we first released a Target-High @ 1.68923 on February 2014. This was a long call asking the position trader to hold tight, but a prop pattern justified the initial call, and back with the right predictive analysis and forecasting system, I am glad to see it attain its final destination as of today - Here...
A possible long opportunity is coming up for the AUD/USD. We would just need a little more movement upwards for me to jump in and say BUY with conviction. All the indicator signals are aligning to produce a message that says the market is ready to shoot up. Signals: Price bouncing off Linear regression. Price bouncing off long term support. MACD moving into...