currency markets Articles

USD/JPY at September open price for possible further expansion. A retest of 50 EMA provides a superior reward to risk ratio but could possibly test the daily trend line where we would need to see bullish signals for USD/JPY strength. Japanese current account data in four hours’ time high is…

GBP/AUD price holding 50 EMA on 1-hour time frame and shaping up for a nice reward to risk ratio trade. GBP/AUD currently retrace and holding the Fibonacci 61.8% level. Confirmation of bullish candle reversal for entry. Key Points: 1 Hour – Above 50 EMA 1 Hour – Above 200 EMA…

AUD/CAD forming a 3-wave zigzag pattern which is generally labelled ABC with 5-3-5 sub waves. See picture below for an example. The flag has now been broken and can enter short if it retests or once 50 EMA crosses below 200 EMA. AUD/CAD should then find the last of the…

NZD/USD forming within the trend channel for further upside into 0.66880 and as high as 0.67350. A breakout of the yellow trend line is desirable for entry confirming bullish momentum for NZD/USD, but don’t be afraid to add a position at the 50 EMA retest.   Investors await for news…

  EUR/JPY sold down into the 61.8% Fibonacci and buyers came in to support price at 123.160 zone which was prior resistance. EUR/JPY – Retest of 200 EMA to provide entry for long side with confirmation of bullish candle signal.   Key Points: Daily – Price above 200 EMA Daily…

BTC/USD breaking out of the wedge pattern also coinciding with 50 and 200 EMA reclaim. When multiple signals support the thesis, our job is to be sure that execution and risk is defined. Wedge patterns are generally a sign of trend continuation when broken, and when found within bullish momentum…

Equity markets under pressure as presidential debate has the world scratching their heads on what unfolded. We can expect money flowing back into the DXY for safety which will weaken all denominated pairs like NZD/USD. The daily chart is now consolidating below the multi-month trend line break where we can…

Breaking trend line now confirms we could see further drops to the 200 EMA. GBP/CAD may retest the trend line for optimal entry to short. Daily chart hovering between the 50 and 200 EMA. 1.71685 is a crucial zone that will indicate where GBP/CAD will likely trend towards.   Key…

EUR/GBP sold off on daily chart and has hit major level 0.90500 forming support but with resistance caution above.   EUR/GBP – A hold above flag break out is a great signal for continuation. The Fibonacci range has set some solid levels for targets with reclaim of EMAs as a…

GBP/AUD Daily chart providing signals the September 3.5% rise since 11th of September has now met with the open price of the month forming extremely potent resistance. Provides a great reward to risk ratio to trade GBP/AUD for short – term downside. Key Points: Daily – Price moving into resistance…

CAD/CHF has respect 0.69200 for all of August and September, touching on multiple occasions reversing for short periods. This was the September open candle zone. Price pierced through this major level and holding above forming a possible triangle / Flag continuation pattern for at least a short time advance to…

GBP/USD technical signals are starting to line up supporting the upside possibility. GBP/USD has sold off approximately 800 pips since the high made in September, and meeting with historical support zone clustering with the 61.8% Fibonacci from last major range and RSI divergence on the daily. Key Points: Daily –…

AUD/JPY has dropped 5.5% from August highs finding a price zone where major reversals have started. Also coincides with June close – July open price. Watching closely for trend line break and a hold above for confirmation to enter. Fundamentally it is quite difficult to go against the Japanese Yen…

CHF/JPY has made 114.000 a potent level for change in price behavior. It also collides with the 33 RSI band which since August has been the true oversold support level. The base of a wedge provides us defined entry focus and stop levels we can hawk and enter at a…

CAD/NZD broke through a multi – month trend line and targeting at least 1.1500 Elliott Wave – CAD/NZD Completing the B Wave of the possible ABC ZigZag or Wave 2. Commencing the bare minimum wave C or extended impulse wave 3 to break A.  Key Points: Price below above the…

The confirmation for this EUR/GBP continuation would be a solid close below the trend line, but for higher reward to risk ratios, candlestick reversals at the APEX are also desired. Wedge patterns are generally a sign of trend continuation when broken to the downside, and when found within bearish momentum…