peterthinkhuge

peterthinkhuge

AUDJPY is approaching the key weekly trendline resistance and the RSI is showing the potential for triple bearish divergence. If the price forms a higher high and re-tests the trendline resistance with the RSI rejecting the trendline on the indicator we can expect to see a reversal from the resistance.

02:18

peterthinkhuge

NZDUSD is currently finding resistance at the key resistance level where the price tested recently. The failure to break and close above the previous swing highs suggests the buying momentum is falling short and we should expect a move back into the support lows.

peterthinkhuge

AUDUSD is re-testing the 10th July lows where the price could move lower from. The RSI being in an overbought condition adds confluence to the potential move lower. Short-term support rests at 0.6870 however we could see a further drop to the lows at 0.6820.

peterthinkhuge

GBPCAD could move lower from the current level as the price rejected the weekly resistance level again. The RSI indicator highlights the price being overbought at this key level which adds confluence to the potential move into the daily lows where the price will likely find support.

peterthinkhuge

EURCHF could be forming a trend continuation move after retesting weekly resistance. We could see the bearish weekly trend continue from here and the 1hr timeframe is forming lower lows and lower highs. If the price retraces back to the recent lows at 1.1017 we could look for bearish opportunities down to the weekly support of 1.0970.

03:01

peterthinkhuge

In this video update, we take a look at Gold as the price is approaching the key $1520.00 highs. Recently the stock markets have found resistance seeing investors move back from a risk-on sentiment to a risk-off sentiment with the safe havens gaining value. If Gold can break and close above the $1520.00 level we could look for long opportunities into the weekly...

peterthinkhuge

GBPUSD weekly chart recently rejected the key 1.3000 level. The price is currently holding above the 1.2800 weekly candle lows and if the price breaks below this level we could anticipate a move down to the 1.2580 highs.

04:26

peterthinkhuge

In this video update, we talk about the USD and what we expect to see ahead of the FOMC rate statement this evening. The Fed is likely to cut rates by 0.25% and if they continue to discuss further easing we could see the USD weakness continue.

peterthinkhuge

USDCHF could be on the way lower after the price broken through the daily low. If the daily candle closes bearish we could look for the USD weakness to continue. Recently the pair broke out of the trendline support of the range which could lead to further downside. Now the price has retraced back towards the breakout lows where we expect to see resistance hold.

02:41

peterthinkhuge

EURUSD has re-tested the key support level and is potentially forming a double bottom pattern on the 4hr timeframe. We could look to enter above the candle high with stops below the key level. Targets would be the current swing highs.

peterthinkhuge

Similarly to the AUDJPY pair price is currently re-test daily highs where we could see buyers re-enter the market. Price is breaking out of the trendline resistance and if we see the minor uptrend continue the key highs at 0.6880 will likely be tested once again.

06:33

peterthinkhuge

In this video update, we take a look at our chart to watch this week in AUDJPY. Fundamentals: Trade talks between the US and China have been positive suggesting a move to a risk on market with safe havens selling. The BOJ is talking of moving rates further into the negative in a bid to devalue the JPY. Technicals: The monthly timeframe is bullish bouncing from...

peterthinkhuge

EURGBP is testing a key double bottom neckline that formed back in May. Typically this zone will act as support with the price likely to retrace back to the key weekly lows. The support zone is supported by the 127.2 Fib extension suggesting the move is overextended.

03:22

peterthinkhuge

In this video update, we take a look at NZDUSD as we expect to see further upside to the currency pair in the bigger picture. However, the price has come up to a key resistance level where we could see price retrace from. Recently price has broken out of an inverse head and shoulders pattern and we should expect the price to retrace back to the neckline for a long...

peterthinkhuge

USDMXN could retrace back into the swing lows as the price has found support at the weekly trendline support. The RSI has also gone into an oversold condition suggesting the impulse move is overextended. This gives us the opportunity to look for short-term long positions into the swing lows at 19.34.

peterthinkhuge

The USD index has recently broken through trendline support forming a key low. Price is currently retracing back into the key lows where we expect to see the bearish trend resume. The The Fibonacci tool offers confluence with a 61.8 and 50.0 retracement. If price retraces here we can look to short the USD across the major currency pairs.

03:50

peterthinkhuge

In this video update, we take a look at USDCHF and the potential for the market to continue lower if the price can retrace to the resistance zone. We will then watch for bearish price action for a short opportunity. We also take a look at how we use the Fibonacci retracement tool in our trading for added confluence.

peterthinkhuge

AUDUSD has rejected the daily swing highs around 0.6880 suggesting price could retrace to the recent highs at 0.6810. A daily close would be ideal in looking for a short opportunity however price has formed a double top pattern on the 1hr chart. We could see price retest the neckline as resistance for a short opportunity counter-trend.