Rocketman

Rocketman Updated 

Fundamentals : See previous updates.... Technicals : The price moved from bottom to top of the band in what appears to also be a break out and a retracement to support. On top of this, we can see that a chart of US bond yields, which predict the direction of the USD, remain supportive of the USD going forward. Therefore, buying dips on USDJPY. For several other...

Rocketman Updated 

Fundamentals: No change. See previous post Technicals: Past Resistance = Future Support Trend in tact Long-term Intraday wave 4 developing... Targets: 117 or 118.

Rocketman Updated 

Fundamentals: The RBA in December's meeting was a hawkish stance. This suggests that going forward, their monetary policy will continue to be hawkish. Coupled with that, given the pandemic's effects on the Australian economy, the Australian government's fiscal policy will be at the forefront of their minds in stimulating their economy. This is a two for one...

Rocketman Updated 

Fundamentals : EUR's upside = Easing covid restriction and accomodative fiscal policy Vs. UK's Downside = Surging inflation, Brexit restructuring and tightening of fiscal conditions Technicals : Horizontal and diagonal monthly support levels along with regular divergence that is emerging. Regular divergence

Rocketman Updated 

Fundamentals: Same Too early for deleveraging... Technicals: US Dollar's Retest of Weekly Double Bottom Breakout Past Resistance = Future Support Conclusion: Stay on the same course....

Rocketman Updated 

Fundamentals: See trade idea for CADCHF: Technicals : 61.8% Fib Horizontal support Positive trending MACD Positive sloping 200 SMA VPA alignment with price and bar patterns at support Monthly Double Bottom:

Rocketman

Fundamentals: See notes on USDJPY Technicals: It seems that EURJPY is beginning wave 3 on the back of JPY weakness. Comment: I prefer USDJPY longs, as there is clear strength in the USD going forward in 2022. I add a smaller position size into EURJPY. Chart of USDJPY: EURJPY

Rocketman

There is a slight policy divergence between the Reserve Bank of Australia and the Bank of Canada in that the BoC stand more hawkish. Also, there remains a disproportionate polarity in the supply-demand play in oil. This suggest that the CAD currency will continue to strengthen in the coming weeks and quarters ahead; and, for the trend in the fall of the AUDCAD...

Rocketman Updated 

Fundamentals: No change. Yields and the yield curve remains supportive of a strong US Dollar Deleveraging has not begun yet Bullish Technicals: uHd 38.2% - 50% fib supprt Bullish RSI and MACD Weekly support Pullback appears to be a fourth wave Price Projection: 12360 -12479 Time Projection: January 24, 2022- February 28, 2022

Rocketman

Fundamentals: See prior notes on USDCAD, EURCAD and AUDCAD... Technicals: (1) Past Support = Future Resistance (2) Key fib confluence @ 61.8%/50% (3) Bearish pin bar (4) Daily and Weekly U3

Rocketman

I made a previous report regarding the BoC and how their decision will effect currency exchange prices in the coming quarter. I target 0.8650 in AUDCAD and 1.40ish for EURCAD. See previous rationale.

Rocketman

Twinkle, tinkle little AUDUSD , how I wonder how many pips you shall fall. It appears to me that AUDUSD made a pullback to some resistance point. This is where I shall pounce. Since it is the holiday, I take a small risk to retain gain made for the year and month!

Rocketman Updated 

Fundamentals: Bank of Canada's rate decision and direction confirms our suspicions to take a short position in EURCAD. The Bank of Canada making inflation expectations a paramount concern to help real yields. This will, unltimately, benefit the CAD. Rising oil prices should also help the CAD appreciate. Technicals: Downtrend uHd Reverse Divergence Negative...

Rocketman Updated 

Fundamentals: The BoC must raise rates at a faster pace and at an earlier time than before; otherwise, suffer the consequences of a destabilized economy, in which currency traders must force this economy to accept its state of affairs. Technicals: Fib hit ExDiv#1 Long-term Trend Line support Horizontal Support Bullish Bat/Bullish Butterfly Pattern

Rocketman

My prognosis still has not changed about CAD's fundamentals. See priot notes...

Rocketman Updated 

Comments: With CHF overbought, Rocketman takes a long position to enter USDCHF. Technicals: USDCHF continues to follow an upward trajectory in the medium-term. Indicators are bullish Hoovering within a lower channel of 0.9133 and 0.9450. a-b-c wave in progress Tentative Target: 0.9450

Rocketman Updated 

I am just observing this potential pattern. Harmonic patterns like this originate with Scott Carney. You can learn about it at his website @ harmonictrader.com He is a living legend. As an investor, I think may provide an extra layer of tools to one's personal arsenal in trading. It might come in handy and help one see the market one is looking at from a...

Rocketman Updated 

Fundamentals: (1) Economists have forecasted the eurozone's economic growth to moderate; and, so far the data has been moving in that direction, as the data has fell below market consensus. (2) The ECB is dovish. Thus, the ECD is allowing market forces to pin yields low; however, it also has circuit-breaking inflation that they continue to ignore at the moment....