ZenTrader111

ZenTrader111

Hidden bearish divergence, further confirmed by downward cross over of MACD

ZenTrader111

Declining oil prices has added to CAD weakness today. Economic optimism and factory orders for the US are due today and a positive reading should continue the current upward trend. The price action is breaking out, with a Bollinger squeeze in play at the hourly timeframe. Also, the trade balance for the US and Canada are due soon, which should have moderate...

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This morning will see the eurozone producer price index. The annual rate was -1.4% last time and the consensus forecast is -1.5%. A lower than expected reading will be bearish for the Euro. Factory orders for the US is expected to recover from last reading today and the economic optimism is due as well today. The EUR-USD rate is making lower highs in price but...

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The Fed's wording and decisions today will have huge effects on the EUR-USD. I expect $5 billion to remain in place for the Fed's monthly asset purchases as inflation has been subdued and there is still weakness in the US recovery. This will be bearish for the USD if it materializes as the market expects an end to QE3 - i.e. the withdrawal of the $15 billion per...

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Positive Euro zone data today has strengthened the Bulls, with purchasing manufacturing index for manufacturing, services both better than expected. No Japan data due today, so markets relying on sentiment for now. The downward trend was broken, with the price action closing over the downward sloping line. At the moment, there is a Bollinger Squeeze in action,...

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Interest rate remained at 1% for Canada today, but the hawkish outlook and inflation picking up in the Canadian economy has led to higher price action for the CAD-JPY. Also, the recent fall due to oil prices led to CAD pairs being oversold. As the central bank looks forward, it is likely that Canada will be one of the first advanced economies to raise interest...

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After posting a low of 111.212 last week Thursday, the CHF-JPY pair has since retraced to just under the 38.2% retracement, which lies at 113.422. The daily technicals are looking bullish, with an imminent upward cross of the MACD, suggesting the formation of an uptrend at the daily timeframe. The relative strength index is also pushing towards 50 and a move above...

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USD-CHF set to depreciate. Yields on 2-year Treasuries are lower, pushing interest rate hikes further away. The Fed recently mentioned that they may incorporate the lower IMF global economic growth forecast into their interest rate decisions. The Swiss National Bank is expected to raise interest rates soon. The relative strength index has dropped just below 50 at...

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Support has already been tested at 1.26106, expect further declines to 1.2568, the 76.4% retracement.

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Price has retraced to the 76.4% level and currently trades just above this level at $322.60. Price action should continue to trade around this level before setting off another upward trend, most likely hitting the low $500's by early 2015.

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The price action has moved below the Ichimoku cloud and the base line is above the conversion line, indicating bearish momentum. The downward trend is currently testing the first weekly Fibonacci support level. The price is likely to tend towards the second weekly Fibonacci support at $357. The RSI has moved into the oversold zone and if it remains there, this...

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From the upward trend over the past month, the price action has broken below the 23.6% retracement level. The price action also seems to be adhering to a downward wedge. If the price breaks out of this shape n the downward direction, expect a bearish move, which could extend to the 38.2% retracement level which is almost perfectly aligned with the second daily...

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The GBP-JPY is shown with the symmetrical triangle, posting higher lows and lower highs over the past two weeks. This pattern could indicate a breakout to either the up or downside. The Bollinger bands are also squeezing closer together indicating a breakout. For a bullish move, the price action should close above the upper Bollinger band and move out of the...

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The price action has broken below the lower Bollinger Band, indicating a breakout to the downside. US GDP figures are due in less than 30 minutes and the expected reading is positive for the USD. The MACD has also seen a downward cross indicating the start of a downtrend.

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The price action has recently opened above the +2 standard deviation, but bears brought the price action back below. The stochastic has indicated overbought conditions, implying a downward correction. The price action is currently moving in the downward direction and the crossover of the stochastic and the exit from the overbought zone indicate further losses....

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The USD-CHF suffered a large loss earlier today and experienced oversold conditions. The pessimistic valuations were corrected by buying pressure in the last hour session and breached the -2 standard deviation. The price has since moved back into the -2 standard deviation range and the sessions high has been at the -1 standard deviation. Buy order once price...

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The AUD-USD is following a downward trend today and the rate has passed the +1 standard deviation, so the rate should tend towards the regression line and the -1 standard deviation

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The GBP-JPY rate should extend to the second Fibonacci resistance providing an upward moe through the fist resistance, which was briefly breached yesterday. The parabolic stop and reversal is indicating the start of an upward move and any buy order should be executed now. The MACD also indicates the start of a new trend, as the faster moving average has crossed...