theforexportal

theforexportal

EURCHF on the back of a hawkish ECB moved impressively away from 1.0624 support but now has hit serious resistance coming in from the daily 200sma and historical resistance. RSI studies are nudging overbought. To misquote the old Yazz song - the only way is down from here. Its almost inconceivable that EUR/CHF could break through the resistance above it at the...

theforexportal

EURCHF has benefited from the surprise talk of a future ECB rate hike and has moved higher impressively on Friday. Studies are now seriously overbought and with EURCHF at resistance its unlikely there's much left for EUR BULLS here. As can be seen, price is now meeting the 200 sma and this will prove a formidable barrier. Trade idea SHORT this pair on open. STOP...

theforexportal

EURJPY might give up some of its gains from last week as the surprise news that a ECB rate hike was being talked about shot this pair like all EUR pairs higher. We are now up against trend line resistance and H1 TDI is looking increasingly BEARISH. We are looking to SHORT this pair from these levels but the BULLISH structure remains in place so a LONG trade from...

theforexportal

EURGBP is pushing deeper and deeper into a broad resistance band and the RSI is reading 69.58 just short of technically overbought. Above this resistance band sits the 76.4 Fibonacci at .8829 some 60+ pips away from current levels. Impossible to buy at these levels and even with the rumour mill turning on Friday with news of a potential future ECB rate hike its...

theforexportal

EURUSD headed lower last week on the open as I suggested and hit support at 1.0534 before bouncing impressively. The initial support I had targeted at 1.0572 gave way but the subsequent drop to 1.0534 set up a most productive LONG trade. This trade was greatly helped by the rumour of a potential rate hike from the ECB. Markets love rumours and EUR BULLS were all...

theforexportal

GBPNZD made good progress last week on the back of soft NZD data and a dovish RBNZ. Price has cleared the first resistance area at 1.7489 and now sits in a band between that level and 1.7918. I'm looking to BUY this pair as I have all year. Trade idea Price could pullback at the start of the week and this would present another opportunity to get LONG. SELL below...

theforexportal

GBPAUD remain in the flag shown and stays inside a channel that runs from 1.6000 area to 1.6271. A break either side of this channel would be significant. Trade idea. With direction unclear best plan is to trade of support levels. LONG from 1.6036 SHORT from 1.6259.

theforexportal

GBPCHF finds itself at critical support. 1.2269 looks like the last line of defense for G/C BULLS and a break beneath this level could signal a deeper move south. The downtrend in place since the 22nd February continues though TDI studies are now stretched a look ready to move north. Much depends now on news next week so its difficult to say which way we're going...

theforexportal

GBPCAD remains in a 300 pip channel and its unclear which way we're headed. H4 chart is interesting with the 50 100 and 200 sma all within a few pips of each other. If this squeeze opens then price will follow. TDI is neutral. Trade idea SELL below 1.6329 BUY above 1.6483

theforexportal

GBPJPY's final candle for the week was a text book shooting star which usually suggests more downside to come. This chart is interesting as GBPJPY lies at the end of a clear flag formation but at the bottom of the flag the usually supportive 200 day moving average sits. The TDI on H4 and H1 are BEARISH so it will be a surprise if we don't head lower at the start...

theforexportal

GBPUSD has now put in 2 DTF doji reversal candles at the end of a sustained down trend. Significantly GBP/USD has been locked in an 81 pip range since early on the 7th March. The TDI (Traders Dynamic Index), a much underestimated indicator, has the market base line reading 35.1 from sub 31 on H4 and H4 TDI is very BULLISH. Fridays news heavy day would have proved...

theforexportal

SHORT EUR/GBP from .8757. This pair has pushed deep into a well defined resistance zone and the TDI suggest we may head lower over the next few hours. RSI on H4 is 83.57 which is well into overbought. The pressure is building on EUR/GBP BULLS and this could be a good time to SHORT. STOP is manual depending on price strength.

theforexportal

Today South Korea's Constitutional Court removed President Park Geun-hye from office over a graft scandal involving the country's conglomerates. Park becomes South Korea's first democratically elected leader to be forced from office, capping months of paralysis and turmoil over a corruption scandal that also landed the head of the Samsung conglomerate in jail. ...

theforexportal

GBPUSD from a technical viewpoint looks poised for a significant rally and looked at in isolation there seems to be a clear LONG trade opportunity. Yesterdays daily candle was a doji reversal candle at the end of a 9 day down move and the Traders Dynamic Index (TDI) on H4 has seen the market base line gradually moving north from sub 31 to 33.4. The RSI has already...

theforexportal

AUDJPY has a top heavy and hanging look and looks to be easing back down to support at 85.60 area. The 200sma on H4 lies 20 pips away from the current price and this looks a severe test for AUDJPY BULLS. Quite a lot of negative AUD sentiment around which will not help any LONG positions. Bit unclear at the moment this pair bit a drift under 85.15 would confirm the...

theforexportal

AUDCAD has hit a weak resistance area and has turned south but with support coming in from the 200sma on H1 there's a fair chance we could move higher. Difficult chart this with TDI and RSI neutral and little in the way of solid support or resistance. A break above Friday's high opens the way for a move to test resistance at 1.0230 and WR1 resistance at 1.0260...

theforexportal

AUDUSD sold off aggressively on Thursday but recovered on Friday and put in a pinbar reversal candle. Quite a bit of negative AUD sentiment has halted the AUD's impressive rise from .7162 and multiple resistance at .7732 appears to be insurmountable for the time being. Monday and Tuesday see the release of AUD Retail Sales followed by the RBA Cash Rate and...

theforexportal

USDCHF was not one of the many USD pairs that did well last week in fact it finished just 5 pips higher than it started although its range was 140 pips. This doji week suggest indecision so its fair to say the price could go either way but this pair seems to have run out of steam and Friday put in a strong BEAR candle so I'm BEARISH. A move down to retest parity...