peterthinkhuge

peterthinkhuge

EURUSD has recently formed a new higher high on the daily timeframe. This could suggest a move higher to come for this currency pair. With the USD expected to be weaker and the Chinese potentially looking to buy EURO to get rid of their USD holdings we could expect this market to move higher. We expect a re-test of the blue support zone where we will be watching...

peterthinkhuge

EURAUD is at a critical level where we could see sellers re-enter the market. This level is 2019s high which could react as resistance as seen before. It is important for the price to close below the level in order to look for short opportunities.

03:12

peterthinkhuge

The RBNZ cut interest rates by 50bps as they weigh up global risks. This did come as a slight shock to the market as we were forecast to see just a 25bps rate cut. The market saw this as a negative and pushed NZDUSD prices through the key lows. We expect to see further downside here in this market and will look for short opportunities on retracements.

peterthinkhuge

Our Bitcoin position is close to targets. We can look to close the position or manage our stops. We expected prices to rise here after we saw the 3 drive pattern into the support zone.

peterthinkhuge

Yesterday we spoke of the risk-off market sentiment to continue. USDJPY recently broke out of the key lows and has spiked overnight into an area of resistance. This will be a good area to look for trend continuation moves. We will be looking for the 4hr to give us bearish signals. A double top pattern at the highlighted resistance will be ideal for short entries.

03:44

peterthinkhuge

In this video update, we take a look at Silver and how the market is currently in a bullish trend. The CoT reports show that the commercials are increasing their short positions and are at all-time highs across an 18 and 6 month look back period. We are expecting one last rally where $17 could act as a top in the market.

peterthinkhuge

NZDUSD is finding support at the key monthly demand zone. With the USD losing strength we could see the price of this currency pair back at the key daily lows of 0.6600. If the daily price finishes bullish we can look for short-term long opportunities. We must remain aware that the New Zealand Dollar is losing strength and any long opportunities should be taken...

04:38

peterthinkhuge

In this weeks market outlook, we outlined the potential risk-off sentiment to continue. This means we are likely to see stocks fall and safe havens gain in strength. We will be looking to buy the JPY in particular. The USD Index failed to close above the yearly highs suggesting we could see further downside pressure.

peterthinkhuge

USDJPY looks likely to remain rangebound as price looks to be forming a bearish engulfing candle on the daily timeframe. This is largely down to the current JPY strength which could be caused by some risk off coming back into the market. If the JPY strength continues we can look for potential range trading opportunities back into the lows.

04:50

peterthinkhuge

In this video update, we take a look at the recent USD strength after the recent FOMC interest rate decision. The need for the Fed to cut rates has slowed and become less aggressive because of the recent good data. Fed Chairman Powell continued his hawkish outlook in the press conference which has helped sustain the USD rally. A close above the highs will be key...

peterthinkhuge

The Dax has fallen recently, however, the price is still supported by the long term weekly trendline and the dynamic support and resistance of the moving averages. Price has formed a new low on the daily timeframe however if we see a bullish close today we could assume it is a false break of the lows. In that case, we can assume the uptrend will continue into the...

03:38

peterthinkhuge

USDCAD lined up with our strategy trade at the end of day close. In this video, we discuss the current reasons for taking the trade, how we can manage the positions and what to do going forward. If price continues the downtrend we expect to see the key demand zone of 1.2900 tested before the end of the year.

peterthinkhuge

EURUSD looks likely to continue lower despite the price bouncing from the lows. Sentiment indicators suggest that the retail market is net long here which suggests prices could break lower. If price breaks through the lows we should expect a continuation of the downtrend. If the USD does weaken however price could test the current lows before breaking lower.

03:20

peterthinkhuge

In this video update, we take a look at Bitcoin as price action is suggesting we could see an impulse move higher. Price could be forming a higher low here and if we see a break of the daily candle highs we can look to go long with targets back at the key swing highs.

peterthinkhuge

EURNZD swing trading position has triggered as price re-tests the previous daily swing lows. The EURO is the weakest currency and NZD is the strongest so we should see the downtrend continue in line with the monthly timeframe. The trade is supported by the Fibonacci retracement tool as well as the 3 major moving averages turning bearish.

04:19

peterthinkhuge

The USD strength continues despite the likelihood that the Federal Reserve will cut rates by 25bps this week. The key for any break or bounce here will be left in the hands of the fomc press conference. If the FED is aggressive with the way they want to cut rates then we should see USD weakness. If they feel there is no need to cut rates so aggressively then a...

04:54

peterthinkhuge

In this video update, we look at the trades we took this week on our telegram channel. Some trades still open and will look to hold these through the weekend as they are long term swing trading positions.

peterthinkhuge

We have been monitoring USDCHF as we expected some CHF weakness to re-enter the market as the Swiss National Bank has started to talk of intervention. This would naturally see the currency weaken and USDCHF, in particular, has now broken through the bullish flag pattern giving us potential long opportunities.