January 4 - 8, 15-weeks Rate Of Change Rankings NZD - 9.9 GBP - 5.80 AUD - 5.53 CAD - 5.15 CHF - 5.11 EUR - 3.17 JPY - 2.33 USD - 0 As per COTR, it shows similar information whereby NZD's Net Position continues to increase from 4.9K to 13.6K in the last 15 weeks (from -40k to 13.6 for year 2020). As for USD's Net Position continues to decline from -5.7K to -14.8K...
January 4 - 8, 15-weeks Rate Of Change Rankings NZD - 9.9 GBP - 5.80 AUD - 5.53 CAD - 5.15 CHF - 5.11 EUR - 3.17 JPY - 2.33 USD - 0 As per COTR, it shows similar information whereby NZD's Net Position continues to increase from 4.9K to 13.6K in the last 15 weeks (from -40k to 13.6 for year 2020). As for USD's Net Position continues to decline from -5.7K to -14.8K...
W pattern on Monthly plus Head and Shoulder on Daily plus possible Drop (waiting for pullback followed drop continuation)
After a big dip (or rally), it is inevitable that it will have a pullback
Drop followed by a pullback then looking to continue its drop
M pattern on Weekly reverses on previous low formed inverse head and shoulder looking to enter to the inverse H&S neckline potential 111 pips profit
Entry Price: 40.654 SL: 42.389 TP: 29.796 With W pattern and rising wedge forming, we may see a pullback on the neckline of W pattern
COTR shows EUR gaining positive net position while GBP is continuously weakening. this suggest to look for a long trade only
Oil has been on a bullish run sin April 27, a healthy pullback maybe just around the corner. But from a pattern perspective (which I trade), a W formation on W1 time frame is spotted. The 38.2% fib retracement is at the same area where the neckline of the W formation.
Looking to short once the price revisits the psychological level 0.90000 then followed by a bearish evidence
everything is point to downside
waiting for a pullback before riding with the market
With AUD as the strongest currency of the month and GBP as the weakest currency of the month, the only sensible direction for this pair is downward. Thus for every rally is a good time to sell. NZD and AUD are 1st and 2nd strongest of the month.
Waiting for pullback then we'll ride with the market