peterthinkhuge

peterthinkhuge

NZDUSD has returned back into the previous lows where we price could reverse. The commitment of trader reports shows the commercials continuing to decrease their short positions at current prices. This is a good sign of a reversal pending for the New Zealand Dollar, strength and weakness tables also show the NZD at an extreme where we typically see a reversal. If...

peterthinkhuge

USDCAD has reacted from the 1.3300 level again and looks likely to close bearish as the USD begins to weaken. A strong bearish close will be ideal to look for short opportunities, the 38.2 Fib is added confluence for resistance.

03:35

peterthinkhuge

In this video update, we take a look at our current open positions to give an update of where we are at. EURAUD has moved significantly towards targets as well as AUDJPY. The daily timeframe suggested the AUD was going to weaken and we are seeing that play out at the moment. USDNOK remains bearish and was close to targets before rebounding, looking for the...

peterthinkhuge

EURCHF has recently broken into new highs on the daily timeframe after price found support at the weekly demand zone. We can expect prices to continue to move higher as the Swiss Franc continues to weaken. We need to see price retrace back to the breakout highs at 1.0965 to look for bullish continuation.

04:53

peterthinkhuge

Will today finally bring some direction to the USD? The federal reserve is set to cut interest rates by 0.25%, but the language they use will be more important. If the fed decide to be more aggressive with future rate cuts we may see the USD weaken significantly. Even if the fed use hawkish comments we are likely to see President Donald Trump try to continue...

peterthinkhuge

The DAX has reached the key resistance of 12450.00 with the RSI in an overbought position we could see the price fall back towards the minor demand zone of 12185.00. We can then look for long positions from this demand zone.

02:46

peterthinkhuge

In this video update, we take a look at NZDUSD as the commitment of trader reports are highlighting the commercials increasing their long positions suggesting they think the NZD is at a good value to buy. NZDUSD technically is bearish and we would need to see price approach key support levels and reject in order to look for long positions.

peterthinkhuge

EURAUD is currently re-testing the weekly trendline support and the hourly timeframe has retraced back to the minor support level where we could see some buyers re-enter the market. The Australian Dollar could suffer from the re-introduction to the risk-off sentiment giving some upside to this pair.

04:06

peterthinkhuge

Last week on tradingview we discussed a potential short opportunity on CADJPY as technically price found resistance at the head and shoulders pattern neckline that formed in July. This weekend we saw the news of Saudi Arabia's oil refineries being attacked which could move the market into a risk-off sentiment with safe havens such as JPY benefitting from that. We...

02:51

peterthinkhuge

The commitment of trader reports is showing large commercial short positioning on Gold and Silver. Gold in particular shows short contracts at all-time highs, this is significant for us to sell Gold on any rallies. Looking at the Gold chart price is re-testing the double top neckline where we can look for short opportunities. On Silver, we need to see the price...

peterthinkhuge

CADJPY on the 4hr timeframe is starting to form a bearish pattern at the key resistance. The market is currently testing the daily head and shoulders neckline and looks to have formed a double top with RSI divergence as confluence. This is a good short opportunity with targets of the demand zone at 80.73.

peterthinkhuge

EURAUD is back at the weekly trendline support, could price bounce from here? The strength and weakness tables suggest a break lower is more likely however short traders may look at this support area to take profit from their positions which could lead to a short-term bounce.

peterthinkhuge

USDJPY is breaking higher due to the risk-on sentiment in the market however price is approaching a key weekly trendline where we could see some short-term selling re-enter the market. If price forms bearish price action at the resistance we could look for short opportunities into the daily highs at 106.50.

05:03

peterthinkhuge

In this video update, we break down the AUDJPY market as we expect to see this market reverse from the weekly swing lows. Price being at this resistance level usually leads to a trend continuation move so we will be waiting for significant price action here to look for short opportunities.

peterthinkhuge

USDCAD has retraced to the previous lows where we could expect the downtrend to continue. The fib also adds confluence with a 50% retracement, look for bearish price action at these lows.

05:15

peterthinkhuge

EURUSD is at a key technical level where technical traders will be looking to short the market. However, fundamentally we expect the USD to weaken as the USD comes under pressure from President Trump and the Fed. Price on the 4hr timeframe is currently consolidating and a break of the range will be key to identifying the sentiment.

peterthinkhuge

Brent Crude Oil looks likely to break out of the trendline resistance as the risk-on sentiment remains. Technically price is working within a channel and if price closes above confirming the breakout the sentiment on oil will likely change. The USD weakness will help oil find higher prices so keep an eye on the USD Index.

04:21

peterthinkhuge

The USD looks likely to move lower across multiple pairs and in this video we highlight the currency pairs of interest. USDCAD is high on our watchlist as well as USDNOK and USDSGD as these currency pairs are lining up technically with our bias.