fxmonarchy

fxmonarchy

GOLD is currently in what appears retracement state before new direction. Either price is gonna continue bear downtrend and break current confluence weekly support, or go above previous broken weekly support confluence level. So far it's a range between two levels and price may stay there for next weeks coming. Monthly candle is still bearish as we approach mid...

fxmonarchy

Pair is trading inside a huge range if we look from daily (140 resistance to 137.500 support) and price is aiming towards old resistance at 140 from this Monday. Equities are red so far, bouncing off all time highs after FED stopped pumping the markets for a while (seems likely to hold until New Year at least). But vaccine news are still coming off and helping...

fxmonarchy

Pair is trading inside a range for a extended period of time. USD is slightly bullish and back inside a range vs CAD which is moderate strong in the basket of currencies (mainly driven by OIL which is up 1,80% on the day as I write this article). Sentiment is equity positive (bullish) or risk-on since vaccine news, but dollar (DXY) found support at 92 and seems to...

fxmonarchy

Pair is approaching daily resistance and confluence level 1.3300. Vaccine bullish news were key driver from last week and now some Brexit headlines are adding more fuel to the pair for more upside. So both sentiment and fundamental drivers are bullish at this time regarding key GBPUSD stuff. Other things to keep in mind are rising Coronavirus cases, still not...

fxmonarchy

Right at demand area (daily and 4h resistance), so there is very high potential of price reaction towards either bullish or bearish direction. Today equities and commoditiers are up (London session) so price is reacting accordingly. There are no crucial news so far, only US election news which hint Biden's win (*markets may push up on democratic candidate win due...

fxmonarchy

Pound has been recovering for some time already, but since making double bottom pattern and forming new/old support at key daily confluence level we got that much wanted last swing high breakout. Pair is aiming towards 1.84 level, which is next vital area to look at. GBP is banking some gains since equities and markets cheer risk on sentiment. Aussie seems to slow...

fxmonarchy

Pound, unlike other currencies that enjoy appreciation vs safe havens under times of sentiment improvement and risk assets bull market has other economical and fundamental problems. Still, the big issue is coronavirus but Brexit uncertainties are weighing on Pound heavily. BOE didn't change rates but left the same as before, plus adding some more stimulus which...

fxmonarchy

USDCAD has been tening down for some time already with more than 600 pips. 3rd wave down looks to be completed and potential recovery might be on the way soon. CAD is a bit laggard currency this week, not quite following risk on and commodity currencies rally by both currency and secular performance. At the same time USD is under huge pressure, but coming at very...

fxmonarchy

Both currencies are under recover since risk on sentiment took over. Long term direction is still to be confirmed by both currencies since uncertainities and virus danger are still not gone. In both scenarios I see AUD still better and safer currency to long vs NZD. SENTIMENT/SECULAR ANALYSIS: Institutions are still holding short positions on both currencies,...

fxmonarchy

GOLD and equities rose together for quite some time already, not showing particular divergence. What one would expect in such turbulent times is that GOLD outperforms equties more since money flow goes to safe havens instead into riskier assets like stocks. But at this moment such divergence is not as clear and doesn't indicate such thing. Now we have huge...

fxmonarchy

Pair made significant movement last Friday and broke above 0.886 crucial resistance area breaking ADR as well. Pair was supported well down on 0.867-0.97 area where most liquidty happened as each break down from 0.886-0.88 levels along with 20ema attracted more buyers. Both currencies can't rely on economic factors to support them at this current time, but EUR...

fxmonarchy

New opportunities can be found on major indicies on fresh sentiment change coming mainly from US-China tensions. Corona virus worst outcome got already 'priced in' and fear of second wave along with fresh concerns regarding trade wars is not helping sentiment as investors are leaving equities once again. Index failed to break it's current support and there made...

fxmonarchy

After NY session closed we clearly stayed above daily lows going into Asian session and new daily candle. Risk off tone and lower equities didn't help risk on sentiment but dollar bounced back after FED's Powell speech on excluding negative interest rates which is sentiment positive for USD. Pair broke previous high and made higher low at London close. PATTERNS:...

fxmonarchy

Pair just broke out Asian session and day high. Pair is moving below it's ADR with 70+ pips left on the table. Timing is good since we are not yet inside NY session and by London fixing time we might get 30-40 pips of upside. Who missed the breakout of daily high, can wait for pullback after leg is completed. I expect targets within daily ranges, near 1.089...

fxmonarchy

EURCAD is bouncing for a third time from liquidity pool at 0.50fib and confluence level supported by daily 100ema. Starting this week we have risk off tone benefiting safe havens more than risk and commodity currencies. 1.51 area is great support and order block. Nopthing changed much fundamentally, and EUR is still much vulnerable, but money flows tend to support...

fxmonarchy

Bulls have a tough job to break current resistance levels, and weekly chart shows 50/200 ma's holding price from breaking further. Last week by all currency perfromance analysis USD was the worst one, and this 1w candle could spark more downside, even back to monthly support. Pair has good technical and fundamental reasons to continue more bearish or minimum to...

fxmonarchy

Not just technically, but long term fundamentally few things changed. We are still in bearish market and this bull rally doesn't seem convincing enough to spark more liquidity into markets at this levels. Yes, we saw 0.5 fib breakout, but as soon as that happened trendline got ceased and we aim towards more bearish sentiment for last few days/week. It's not much...

fxmonarchy

Simply weekly analysis points on flows getting more bearish looking for a long term. Very important interest area for BTC is 7000 or 7k price. If BTC doesn't climb back above and closes 2w consecutively we have much less chance to see BTC bullish once again. Many investors and traders are trying to make a point on 3000 as crucial support, but don't see full...