Rocketman

Rocketman

5:1 Reward:Risk ratio. It is AUDCAD on a daily chart. If this oversold pair does not rise at this level, then the level below is a good level. AUD is the most oversold than the rest of the G10 FX with an economical growth pattern that has not showed up on the charts yet. What's more, AUD has a lot of padding compared to CAD in its real estate market from its...

Rocketman

Fundamentals : EURNZD has similar fundamentals as AUDNZD; and I think EUR itself will fall faster than NZD has NZD is in a better position. Thus, I short both AUDNZD and EURNZD. See notes on AUDNZD. Technicals: Technicals seems a bit overstretched.

Rocketman

Technicals : With a large weekly evening star and a monthly engulfing candle, I believe that it is time for AUDNZD to make a large 50% retracement from the low of March 2020 to the peak of October 2022.

Rocketman

AUDNZD breaking its small channel in an uptrend. Re-entry...I believe the trend will continue in the coming days, and NZD's bearish strength will be stronger than AUD's.

Rocketman Updated 

Fundamentals : The China Factor : Australia's economy is intimately linked to trade with China. (1) China's lack of demand for iron ore as their economy undergoes a recession. " Disaster looming in Australian economy as iron ore demand falls " (Daily Telegraph: www.dailytelegraph.com.au ) www.imf.org fred.stlouisfed.org markets.businessinsider.com (2)...

Rocketman

Fundamentals : There is a policy divergence in JPY with other central banks, and this is what is driving the trend of many xxxjpy pairs. Technicals : Daily and weekly BBT Double Bottom confirmed Crown-like continuation pattern

Rocketman Updated 

Fundamentals : This is a USD market! Gold does not look favorable until 1600 or 1400. Technicals : It appears that we are in the wave 3. Price piercing the weekly 200 ema bearish technicals March 2020 Support Breaking Strong USD fundamentals

09:41

Rocketman

Fundamentals : UK's GDP is not as lofty as the US GDP. In fact, it is estimated that the UK's GDP will dramatically trend worse this year and throughout the year of 2023. Compared this to the USA, which will have a flat GDP to slightly lower GDP relative to the UK's. It is this big picture that I have in my mind that causes me to go short the pound. Technicals...

Rocketman

Fundamentals : Natural gas and energy prices will continue to shock the markets for the winter. Euro's trade balance is out of whack. I believe that shorting EURAUD matches this view. Technicals : Clear downtrend downward trendlines Scott Carney's butterfly pattern (hopefully, it is a correct....) Bearish Cloud Tested the Resistance Band Under the 200...

Rocketman Updated 

Fundamentals : Per prior CHF and EUR analysis Technicals : Wave 5 and wave c downtrend daily past support = future resistance

Rocketman

Technicals : Gabriel Grammatidis's Busted Breakout Pattern Trend

Rocketman Updated 

Fundamentals: As per our fundamental direction, we remain short. See previous blog posts.... Technicals:{/b} Dead Bounce on US CPI data Downtrend Testing long term trendline Past Support = Future Resistance

Rocketman

Is it better to buy some oil to hedge inflation rather than coconuts? Technicals: I think I see a technical signal to buy oil here.... a-b-c completion horizontal support 61.8% fib zone

Rocketman

Fundamentals : (1) EUR's negative outlook looks bleaker by the day. (2) Geopolitical risks remain high. (3) Market's shrugged off EUR's rate hike. (4) Gas problems will be an elevated fear until EUR can strike a deal or switch to an alternative source of energy. (5) Russia turning off the gas tap so needed by EUR. Conclusions: (a) EURO recession. (b) Less QT...

Rocketman Updated 

Fundamentals : Prior strength of the USD will resurface Technicals : Funda Horizontal Resistance Test of 50 moving average trendline test

Rocketman Updated 

Fundamentals : Intact previous presumptions. See previous related idea Technicals : Price bouncing off support from March 2022 diagonal trendline Horizontal support from January 2002 Fib bounce Positive MACD Price went sideways relative to the previous trend End of a small 5 wave down swing Conclusion : Possible end of last major pullback before a rally towards 147

Rocketman Updated 

Fundamentals : See previous analysis Technicals : Past support becoming future resistance Diagonal trendline resistance Bargain pullback after triangle breakout Weekly BBT Target : 0.8635 to 0.8450, which is about 500 pips from the current price of 0.8939...

Rocketman

Fundamentals : Ukraine War and Russia's Oil Play Technicals : Price bounces from a Monthly trend for the 5th time that started in April 2020. Monthly 50 trendline bounce Monthly diagonal trendline bounce uHd