Looking for further upside with the invalidation of the double top at 51.73 to confirm Revelation Trading's bullish bias. Near term support is at 46.33.
AUDJPY looks attractive on the weekly chart because of the following reasons 1. Made 3 higher lows at 72.90, 76.80 and 81.20 2. broke above the weekly resistance capped at 84.50 As usual there will be traders who will want to short at 85 claiming that it is top of the range etc etc. All that is fine as long as it fits into your strategy. However, RT thinks...
FOMC has signaled that their policy will tighten and that their balance sheet is likely to begin unwinding later this year. As such, this should fuel a revived interest in USD strength. Yet looking at the range bound whipsawing price action of late, it seems that the markets have interpreted the Fed's hawkishness (in the midst of the less-than-impressive economic...
Been waiting for weeks, or at least a quarter for the Pharmaceutical stocks to turn bullish. And with the Nasdaq Biotechnology Index breaking out of the consolidation phase at 3158, and Donald Trump finally making good his healthcare reforms, the suppressed undervalued pharmaceutical stocks should start to shine moving forward. As such Household pharmaceutical...
As the saying goes, " It is unattractive or unprofitable to be attracted to a currency pair especially when it is unclear" It was just about a week ago when all the odds were tilted in the favor of Theresa May winning the elections with a majority parliament, yet the cliche "expect the unexpected holds true. Many GBPUSD bulls were ran over when news of the hung...
As the saying goes, " It is unattractive or unprofitable to be attracted to a currency pair especially when it is unclear" It was just about a week ago when all the odds were tilted in the favor of Theresa May winning the elections with a majority parliament, yet the cliché "expect the unexpected holds true. Many GBPUSD bulls were ran over when news of the hung...
It wasn't too long ago when AUDUSD bears were dominating the down move as denoted by the pink downtrend line. However the purple uptrend line at around 0.7370 did hold up and resulted in the current rally of the Aussie dollar where a new high was made at 0.7633. The RT Team reckons that the sentiment for Aussie dollar is neutral at the moment given the superb...
It wasn't too long ago when AUDUSD bears were dominating the down move as denoted by the pink downtrend line. However the purple uptrend line at around 0.7370 did hold up and resulted in the current rally of the Aussie dollar where a new high was made at 0.7633. The RT Team reckons that the sentiment for Aussie dollar is neutral at the moment given the superb...
With the invalidation of 2 key price levels @ 77.721 and 79.43 nzdjpy has piqued RT's interest for the long side. The pair has seemed to create a higher low at 79.55 despite a 12 week down move. Better days ahead Will review again upon hitting intermittent targets at 80.4 and 82.6. This is after all an uptrend in a range.
The Euro gbp looks like a potential breakout trade out from 0.8868. Looks so textbook that it feels like it is too good to be true lol However, looking at the forthcoming Brezit negotiations and the troubles of the recent elections, which has resulted in the sharp selloff of the Gbpusd, this may just be a high probability trade. For the risk averse traders who...
The USDCAD made a new high at 1.38 in May and was subsequently met with a fierce downtrend for 1.5 months. Many breakout traders would have bought into the breakout at 1.3560 and would have been handsomely rewarded with a gain of at least 240 pips in the first up move. Yet, the good times did not last. Retracement traders who hoped to rejoin the uptrend with...