GrizzlyBearBee

GrizzlyBearBee

The DXY has been on a selling spree of late. Today, Powell said that it will take time to achieve the inflation target and that it will maintain its asset purchase program which stands at US$ 1.4 TRILLION per year. The balance sheet exceeds US$ 7 trillion which has never been witnessed before. When Powell was asked about the FEDs QE, he said that the current...

GrizzlyBearBee

Price is currently breaching a trend line connecting two major pivot lows of 2020. If the daily candle closes below the July pivot Low, it could open up the March pivot Low 🎯. It's important to note that the pair is still within a descending flat-bottomed pattern (descending triangle). The JPY is expected to be strong with the candidate best positioned to succeed...

GrizzlyBearBee

After piercing through a resistance area last week, it is currently testing this level which is now a support. The level is in confluence with the fibonacci retracement at the 0.382 to 0.5 levels. The pair is expected to complete last week's impulse. A higher target remains in sight in the medium term. The 💶 has faced massive buying of long positions by...

GrizzlyBearBee

The Cable has deccelerated into a resistance zone. I will be looking for a selling opportunity within this zone. A possible messy Brexit also weighs heavily on the GBP

GrizzlyBearBee

Despite the weakness exposed by last week's moves, I will be looking for a buying opportunity prior to the selling idea to test the March '20 Pivot Low 🎯. Fundamental Analysis is bearish for the GBP futures. The UK unemployment numbers increased last week and the parliament voted for the PM's Bill. The Bill according to the EU negotiators in Brussels, is illegal....

GrizzlyBearBee

The British Pound seems vulnerable against the Swiss Franc after GBP/CHF confirmed a downside breakout through an Ascending Triangle continuation pattern. This could eventually pave the way for the pair to revisit the current 2020 low at 1.1118. The recent break under the 1.1672 – 1.1725 inflection zone underscores this argument. Getting to lows from March entails...

GrizzlyBearBee

Silver is still holding up the 2011 to 2012 pivot lows support - a time when the price of silver was higher than now. While many traders are of the consensus that XAG is heading for the ATH by 2021, the risk sentiment on US equity markets might force investors to park their monies in the USD. Might spell trouble for GC1! and SI1! if investors don't consider them...

GrizzlyBearBee

The GBP crosses have lost an average of 500 pips this week alone after Boris' government announced plans for a crazy BREXIT. Will this pair break rank or will it respect this long term trendline

GrizzlyBearBee

The greenback has recently had weakness. Analysts are in consensus that the GBP is best positioned to gain from the USD weakness. For the EURO, major headwinds from resistance levels dating back to the 1990s lie ahead. Despite this, analysts have set their eyes on the 1.25 target by next year. The CFTC COT data shows that speculators have gone long on the EURO...

GrizzlyBearBee

So, the EURNZD has been going stronger since the beginning of 2020. The impulse was followed by a correction. There could be a possible H&S pattern on the higher time frame as the pair attempts to complete the initial impulse. The CFTC COT report released on 28th August suggested that EUR is still stronger after massive longs being added by the Non-Commercial...

GrizzlyBearBee Updated 

The pair is currently above a strong Support and resistance area. Confirm the area from the weekly time frame. I expect the price to retest this area. If it closes below the support, I will be going in for nice long to the next support at 1.915 drawn from the weekly time frame. There I'll be a minor support zone below, if the price closes below that area, then...

GrizzlyBearBee Updated 

The AUDUSD could fall from this point as it has failed to pass the resistance above. Should it fall, the target will be around 1.65. A further drop will be expected within the next month after a retracement. In addition to this, the the fundamentals do not look good either: 1. The covid19 cases are on the rise in the USA, while a possible second or 'mini...

GrizzlyBearBee

The daily RSI and MACD charts support the downtrend. Observe 4H charts to check for entry points