SteveTobin

SteveTobin

The USCAD trade highlighted last week is now nicely in the money, it is approaching its first resistance point which coincides with the FOMC meeting so could be decisive. Momentum indicators Contiue to look good so I am holding short

SteveTobin

The second USD cross appears to be turning, I remain short USDCAD and am now considering entering long here. RSI is positive, the MACD signal line has tuned and is approaching the signal line. The candle chart shows the pair approaching substantial resistance and I will wait for this to clear before entering long. Of course we work from the assumption that the...

SteveTobin

This monthly view adds weight to the daily chart published a few days ago. The pair looks to be completing a double top and returning to the multi decade down trend. Although the trade remains in the red I will hold short, this could be the first pair to,signal an end to the USD bull run.

SteveTobin

The pair is moving in an ascending channel that has been tested several times and has held on each occasion. The channel is part of a multi year bull trend and will be difficult to turn around. We have a couple of indications that a trend change may be approaching. RSI has developed a clear down trend and the pair has put in lower High, we might say we have...

SteveTobin

Break of long term head and shoulders pattern confirmed by MACD signal lining breaking the 0 line and RSI in a clear medium term downtrend but not yet in oversold territory. Fundamental drivers look good, strong data from canada last week, markets pushing out date of fed tightening and positive outlook improving for oil prices. Target based on height of head and...

SteveTobin

Short play opened this morning on close of bearish engulfing candle. I remain a believer in Euro weakness going forward

SteveTobin

I have taken a long NZDUSD position, several technical breaks combined with what I consider to be a somewhat overdone run for the USD present a good opportunity. Risks clearly entail as I am essentially picking the bottom of a medium term trend.

SteveTobin

The GBPAUD trade published last week has made significant progress, currently standing at +350 pips it has cleared a major channel that has defined the latest part of the long standing bull trend. I expect the channel bottom to act as resistance should it be tested. The pair shows significant potential for a downside correction and as a result I have increased...

SteveTobin

The USD pullback looks likely to continue for a little while and this NZD trade is looking to take advantage of this

SteveTobin

Technical break of resistance following bearish engulfing candle at trend line

SteveTobin

The recent UK inflation report showed that the BoE are less inclined to raise rates than the market had assumed. The strength in the Japanese economy suggest the BoE may delay or cancel future stimulus. Both of these facts combined with a round of risk aversion in the equity markets make this technical break a high probability trade. Regards bagehotsway

SteveTobin

Confirming a monetary policy view of GBP strength an unusual technical pattern has arrived, three successive double tops all leading to upward pressure.

SteveTobin

Nice technicals backed by fundamentals. the GBP makes a false break of a long term descending trend line the moved lower breaking an up award sloping trend line that had been in play for several weeks. Pair now testing the bottom of an ichimoku cloud, a close below the cloud could indicate a substantial downward correction. Jobs data released today confirms the...

SteveTobin

Nice technicals backed by fundamentals. the GBP makes a false break of a long term descending trend line the moved lower breaking an up award sloping trend line that had been in play for several weeks. Pair now testing the bottom of an ichimoku cloud, a close below the cloud could indicate a substantial downward correction. Jobs data released today confirms the...

SteveTobin

Potential set up for the market open

SteveTobin

This has been a great trade for me for the last few weeks, the trend has been solid currently up 150 pips, but have made a total of 650 following this particular channel

SteveTobin

New trade at open of market this morning. This trade has high probability, it is in a clearly defined channel that is now well established. It also has great potential, the pair has been in constent down trend since october 2011, the first fib retractement of this down trend comes at 1.73466. That is 1500 pips away! I have placed 50% of my maximum allowable...

SteveTobin

Entered long at the open of market this morning I had a long which hit a trailing stop 2 days ago, my fundamental analysis is still long and as soon as a new entry point arrived I took the trade. I remain bullish above 1.025 unless the chart says otherwise