Daily candle chart

a retest for 1.1930

in the daily candle chart NZD LFX we can see a good work by a bullish inverted hammer pattern. but I think that is important to you a high-th

I can see the candle as a hammer of course I am a little worried for a small upper wick and also we known that this pattern is with low reliability.

On the other hand I'm hoping to hammer. Because the dollar index is on the bottom

Hussin

hi Peter my dear bro
Swallows return to nest

Might be interesting news for you

Issued an important statement by the Stock Exchange
Forex activity was declared illegal in Iran
Fars News Agency: Stock Exchange Announcement issued an important activity of all real and legal persons operating in the Forex market and investors declared illegal in such activities warned.

Iran is a free country
http://kuwaitsamachar.com/index/cont...eign-exchanges

Hi dear hussin, I hope you and your family are very well.

I stopped trading for a time, and now I trade every now and then. Longterm charts, with weekly pattern, if I spot them.

I hope you are allowed trading in future in iran, and goverment will only adjust
foreign Investors. Because of the bearish dollar the Rial ist pretty expensive, so maybe goverment will fight inflation with forbidding trading. What a poor thinking.

Have a nice time with drinking white wine and eating fish at the caspian sea.

my view at the lfx longterm, first usdlfx:

the usd will drop much much more. usd is a market mover against other currencys, other currencys may go sideways like cad or gbp, but usd will move currency pairs like usd/cad or gbp/usd.

the eur will fly high, before it drops very hard. On the monthly we see good work of an inverted hammer. On weekly some might see a triple bottom, but this is not a candlestick pattern. I have no clue how far it will fly before it drops, but fundamentals will bring it back at the bottom.

the chf is another driver in the currency market. We have seen just testing the 1.77 and price reversed. chf will also fly high.

So, usd drop more, chf fly, I short usd/chf. longterm target 0.70.

but the cad and me are not friends, I avoid trading cad pairs. For me the cad is in a triangel. we have seen a three inside up, but price is going sideways since november 2010. If trading cad pairs, we need a driver to go somewhere

we have seen good work for the yen with this weekly hammer. But will the highs be limited ? Trendlines are there to be broken.

Trading the yen with other sideway currencys is good. For example gbp/jpy long.

the pound is ....so low. Its going sideway for a long time.

I hope for a bullish breakout, but its not in the charts yet. Maybe the bullish run on the daily was a hint.

Trading the pound needs an other currency which is moving. The yen, the eur or the usd might be good.

Long gbp/usd till 1.73 in some weeks...

nzd/lfx might be treated the same.

I have a very very simple looking at aud/lfx. long, long, long, but long at the right moment

For the next month to come my trades will be long gbp/usd till ~1.73 (maybe higher), long gbp/jpy till 147, 169, 185, 200 (depending where the turning point is), short usd/chf till 0.70, eur/usd 1.60, if break much higher.

I will step in again, if I see weekly reversal candelsticks.

Have a nice trading everyone.

thanks peaches,for the charts and your insight

we have daily close, and yesterday I said, I have no clue, how far the aud/lfx will fly high. Of course next day appears a candlestick pattern. I think we now have - what we call here - a bearish engulfing pattern on the aud/lfx.

Lets see, if it is only a market correction for 2-3 days, or last longer. The weekly close will show.

I declare the aud/lfx bearish season for open.

Not forget the twin brother nzd.

days ago I postet a chart for gbp/nzd, where I showed a confirmed inverted hammer. From importence for me, was the nice bullish candle
in this bear run. This was a signal for me, that bears might come to an end.

after this, we have had another leg down.

Let me explain, why this pattern was importend for me.

We have had a bull run from the beginning of this year from ~2,00 till 2,25. This was a bullish signal for me, if you look the the monthly chart, you might see a bullish three inside up pattern.

The move from 2.25 - 2.08 now was just a retracement for me.

The story behind this chart is good, now price has to full fill it. Also have an eye at the weekly.

Good night