peterthinkhuge

peterthinkhuge

EURUSD has recently broken through the weekly swing highs showing the change in trend in the major currency pair. In a trending market, we expect to see prices move higher from areas of support. The recent highs at 1.1075 will be a likely area of support where we will look for bullish price action opportunities.

05:26

peterthinkhuge

In this video update, we take a look at EURJPY as price approaches a key resistance level. We could see selling resume at this key level back into the recent break out highs at 119.80. The 4hr timeframe is currently forming bearish divergence giving us a potential short opportunity.

05:29

peterthinkhuge

In this video update, we take a look at GBPJPY as the price is approaching the key resistance level. Recently Prime Minister Boris Johnson announced on Twitter that the UK and EU have come to some form of an agreement in which the deal is fair for the UK and the EU. However, Boris Johnson has now got to take this deal into Parliament where ministers will vote to...

peterthinkhuge

USDCHF has broken through the trendline support after finding resistance at the key range highs. Now price is breaking lower we can expect to see the price continue to move lower towards the range support.

05:34

peterthinkhuge

In this video update, we take a look at the number one most asked question... How to find a currency pair to trade. Typically we look at the major currency pairs for areas of opportunity and look for the strength and weakness of the currencies against the USD in order to look for a cross pair of interest.

peterthinkhuge

The USD Index is currently finding support at the 98.18 level and trendline support. Poor retail sales couldn't push price through the support instead we saw the price react from the level suggesting the USD bears aren't around currently. If price closing bullish here we could see the USD bounce towards the key resistance one again.

peterthinkhuge

When looking at a cross pair it is important to take the major pairs into consideration. When trading AUDJPY you have to remember you are trading AUDUSD vs USDJPY. AUDJPY (the left chart) shows price has formed a new higher high and currently testing the 4hr support zone where we could look for a long opportunity. AUDUSD (top-right chart) is currently finding...

03:30

peterthinkhuge

In this video update, we take a look at the NZDUSD as price approaches a key support area. The CoT signal remains the same for the kiwi and we can continue to look for long opportunities in line with that bias. Technically price is finding support at the left shoulder of the inverse head and shoulders pattern. If we see a bullish close we can look for a long...

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NZDJPY has retraced back to the key demand zone at 67.88 where we could see buyers re-enter the market. The commitment of trader reports continues to show the New Zealand Dollar long contracts at all-time highs suggesting strength could come into the market. Technically price is at the breakout highs and if price produces bullish price action we can look for a...

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GOLD continues to work within the bullish breakout pattern and price could find support at the current level. $1485.00 is a minor support area on the daily timeframe and if price closes bullish we could expect a move higher back towards the trendline resistance.

05:13

peterthinkhuge

In this video update, we take a look at the RSI indicator and how you can implement the study into your own trading. Indicators are lagging to price action and should always be used in conjunction with other confluences. We take a look at a moving average bounce strategy with the RSI in an overbought or oversold condition to filter out better trading opportunities.

peterthinkhuge

AUDUSD has recently tested the 4hr double bottom and found support with price breaking out of the trendline resistance, we can look for a re-test of minor support levels for long opportunities. This suggests we could continue to see higher prices on this pair as the USD continues to weaken.

02:22

peterthinkhuge

USDJPY on the weekly timeframe could be about to break out of the inverse head and shoulders that are forming due to the risk-on sentiment we are seeing. When we spoke of this pair previously we expected the market to find support at the key 106.00 zones with targets of 109.00. If the market breaks the neckline resistance expect to see 109.00 tested and if the...

peterthinkhuge

EURCHF could potentially be forming a double bottom on the weekly timeframe giving us an option to look for long opportunities. The strength and weakness tables also suggest looking for long opportunities on this pair. The 4hr timeframe shows price breaking through a trendline resistance showing us a potential change in trend on this timeframe. We will look for...

peterthinkhuge

We are still looking for long opportunities on NZDUSD and price is currently consolidating within a triangle pattern. We are looking for long opportunities from the bottom of the pattern or if the price breaks out of the pattern highs.

05:59

peterthinkhuge

In this video update, we take a look at EURUSD and the current downtrend. We break down how you can use trendlines to look for trend continuation trades and changes in trend.

peterthinkhuge

AUDJPY was a currency pair highlighted by the strength and weakness table we showed in the market outlook. The Australian Dollar continued to weaken last week and the Japanese Yen continued to gain strength. Technically price re-tested the previous swing lows and key moving averages and has pushed lower. If the price continues to form lower lows we can look for...

02:48

peterthinkhuge

In this video update, we take a look at the price of silver as we could see the uptrend continue. The USD is weakening which will only support higher prices and with the weekly chart showing a rejection' of the key demand zone, we could see this market break towards the $20.00 resistance.