UrbanForex

UrbanForex

This pair is playing out as planned. The EUR group is currently fairly neutral with the AUD group showing some weakness. The daily technical view tells me that price might want to spike up and then pullback with some strength. I can see momentum leading up to this key level (green line) has been slowing down. This is going against correlation at the moment....

UrbanForex

From the daily chart we can see we have been rejected from a key level (blue line) and price has been crashing since. If I gauge the momentum I can it is increasing. Couple that with the GBP group taking a beating since the news yesterday and the CAD group strong across the board, there is nothing to make me think this will not continue. The only question is...

UrbanForex

Looking at the daily we can see momentum has slowed as price nears a key level. My only hesitation is the EUR group as a whole is starting to pickup strength. But so is the AUD group, just not as fast. So this could range a bit here. This is why I would like to see a spike above my blue line and the aggressive sellers to show up. If I get this probe I will be...

UrbanForex

I still like this as a buy. Correlation is currently the leader and with NZD weakness and JPY strength price is still pushing down, but is struggling to do so. From the daily view we are at a double bottom and momentum is fading as we reach the low. From the 4h I see we have divergence showing up and price is over extended to the down side. Couple this with...

UrbanForex

From the daily time frame we have reached a level of interest and I notice momentum is failing (purple lines). Also from a correlation stand point I noticed that the JPY group as a whole is at an area on most crosses that it wants to change direction and CAD is showing immediate strength at the moment. From the 4h chart I can see buyers starting to show up. ...

UrbanForex

Price has moved down to a key area from the daily TF. I saw momentum slowing on the 4h and then we created a range. I was expecting price to probe down before we can move higher to get the best price for buyers. This sudden move down also create divergence in the market. I took the trade with anticipation price is going to bounce from the 75.26 handle. I waited a...