forexmonarchy

forexmonarchy

JPY staying stronger on both fundamental and technical analysis. Secular performance and sentiment also prove CAD should continue lower. I see higher chances of pullback towards 75.3, so 80 pips are on the table. Overall market is in triangular shape, but longer term still bearish outlook.

forexmonarchy

EURUSD has more tendacy to break below it's trading range than to push up. I want to see clear technical breakout with level test and not closing above 20ema on 1h 4h timeframes. Markets are still mixed, but EUR looks to underperform against USD on recent flows. I would take my chances on short here

forexmonarchy

As you could see from previous charts and analysis I am still bullish on Aussie and risk on currencies vs USD due sentiment and secular analysis co-relation for past few weeks. Long term rise should be limited, but chats point short-mid term continuation. Pair extended from 0.5 fib breakout+ momentum and volume pick up. AUD is the best performer by secular...

forexmonarchy

Pound could continue next week its rise vs USD due global risk apetite which is continuing. 2 up legs have completed, last one got 50% retracement which indicates still fairly bullish demand for pound. Pound being the most attractive after Aussie in risk on sentiment is giving us new long opportunities. This could be the last wave (1-3/2 ew analysis) for pound,...

forexmonarchy

DXY looks to aim towards 50% retracement level and swing low area (99ish level) to attract new wave of buyers. Fundamentally dollar should continue lower on FED's balance sheet expansion and fresh risk on sentiment, specially vs risk on currencies. But I don't yet see dollar depreciation much lower, so first demand area should be at described levels. If we break...

forexmonarchy

GBP has found some obstacles after strong pullback on sentiment and market improvement, since GBP is attached to stock markets and govenments financial injections. Money flows tend to favor GBP in such environment and this week we see continuation with Aussie and Kiwi as leaders. However JPY is the weakest counterpart of all risk off and safe havens, so I would...

forexmonarchy

Pair is testing critical areas of resistance at 0.5 and 0.618 fib retracement and finished daily red candles with rejections. 1.02 is key support and if price manages to break lower it will likely continue. AUD is more exposed than NZD and overall trend shows that. Downside is limited becuase we already have bottom and I wouldn't go long term on sell, so under...

forexmonarchy

Risk on still dominates the market, NZD and AUD are recovering mostly from the majors. Current support on this pair is holding for extended period after creating lower highs time after time. Now it finally looks it will break down, leaving 500+ pips of potential on the table. I want to see 1.82 ceased and tested to enter. Market will likely give us opportunities...

forexmonarchy

Trend looks to get changed soon. Below 65 we have good selling opportunites for reaching lower levels. 63 is next key support where price should find buyers again. Money flows still suggest long term risk off sentiment which favors JPY in front of AUD and rest of risk on currencies. Short term some recovery has been done, but money flows are heading back into JPY...