Trading in a convincing upward channel, look for failure of this to short back toward wider upmove support
Price has settled near the previous lows and we can now expect some retracement, break of 101.30 gives us confidence for 102.80
Price held at previous top in yesterday's action, sell back to lower end of range, either at the top or wait for break of the upmove below 0.9950
The RBA relief squeeze on AUD shorts wasn't enough to breakout and the downtrend remains intact, a period of tightening price is preferred for trading an upside break and with this failed move we expect this occur and to base above the 1.0400 level into next weeks RBNZ
DAX we identified as a short on simple idea of selling pre-Brexit high and gap fill. Price has remained sticky with neither the Fed, BOJ or the woeful US GDP giving it much reason to move. The 50 HR MA has come into play, underlying the current upmove and a break below this would would signal further decline. 10270 sits as main support, below here 10,000 opens up...
A clearer fundamental picture that GBPAUD with only one central bank decision being a direct influence. Friday's move was on the back of strong USD sell off into month end fix so we discount the break below 1.7300 to some extent, a break below Friday's low would be a more confident signal to short than selling rallies to 1.7300. BOE disappointment risk will weigh...
GBPAUD made a break lower on the back of US GDP giving AUD and NZD a boost, we expect some retrace back to previous support area into RBA early in the week. The next move will be decided on the next move by the RBA, a cut will likely to lead to upside break but with the BOE to follow we could see this whip back below 1.75000 again.
Shorting at pre-Brexit high, Fed expected to move to more hawkish stance on better data, Brexit's damp squib fallout, may add below 10,200 break of current upmove
AUDNZD now looking to correct from the breakout move that ending it's period of consolidation with 1.0550 area in view as the main support and where we would be looking at long entries for the start of a larger upmove with gains toward and above 1.3000 being eyed. The kiwi still maintains the carry advantage over AUD but we expect this to end with the RBNZ...
USDJPY trading in broad downward channel, sell the top target 50 - 60 % ish retracement of the move up
EURNZD looks to have potentially finished the current upmove and now to correct before a continuation, 1.5500 in view
EURAUD looks to follow the bullish breakouts seen in EURNZD and GBPNZD, 200 HR MA key at 1.4630
Japaneses stimulus excitement seems to be ebbing, time to short, cover on move to 0.7200
Shorting USDCAD at top of range into FOMC which is expected to be USD negative
EURGBP showing good signs of continuation as stops are run, expect rinse and repeat as this pair step higher
USDCAD sticking to the range and little on the horizon that will take it. Lack of rate increases will stifle USD and a precarious oil price preventing CAD from rallying. Bias is for an upside break on weak CAD targeting 50% retracement of the larger move down
AUDNZD grinded along the support area for most of the week with a short lived break lower on Friday, this short provide good short opportunity on a rally, The Aussie election looks to be the culprit for the weekend gap and will continue to weigh with possible rating agency cuts on the horizon with a hung parliament making economic decision making. RBA decision...
trade the descending channel, 0.9800 just under 200 DMA resistance