And the target on NZDUSD has been hit. ALso, stay away from EURUSD at the moment. Yesterday there were some nasty spikes. I think we could see those spikes until the situation is resolved.
- #21,562
- Jun 19, 2015 7:43am Jun 19, 2015 7:43am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
AUDUSD has been making bearish zig zag after it was rejected from 0.7850. If we get a retracement above the trendline we could possibly have 2 spots for new shorts. First POC ( 50.0, DPP, previous breakout ) comes in 0.7780-90 zone while next surge of sellers could show at POC2 ( 61.8, near term historical sellers, pin bar rejection ) around 0.7810. 0.7850 double top needs to hold for this setup to be valid, and the targets for the move are 0.7740, 0.7725 and ONLY 4h close or momentum breakout below 0.7720 will target 0.7650.
- #21,565
- Jun 23, 2015 3:49am Jun 23, 2015 3:49am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
NZDUSD is perfectly following the trend, meeting all the targets we have previously discussed. Fundamentally Flash PMI rose by 0.2 % from the forecast ( 49.6 from 49.4 forecast) The expectations see RBNZ to further cut the rates which are putting additional weight to the pair.
Technically the pair is too low to position trade safely now, so I would rather wait for a retracement. We can see that the pair is making a valid bearish ZIGZAG pattern which is a sign of a stron bearish trend. POC comes at 0.6960-6970 ( Retail Gap trendline, H4, 50.0 ) but we can also mark 0.6930 as a possible retest zone ( H3, DPP, 38.2). 0.7000 levels should hold and 0.6750 is the target.
Technically the pair is too low to position trade safely now, so I would rather wait for a retracement. We can see that the pair is making a valid bearish ZIGZAG pattern which is a sign of a stron bearish trend. POC comes at 0.6960-6970 ( Retail Gap trendline, H4, 50.0 ) but we can also mark 0.6930 as a possible retest zone ( H3, DPP, 38.2). 0.7000 levels should hold and 0.6750 is the target.
- #21,568
- Edited 3:05am Jun 24, 2015 2:53am | Edited 3:05am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
- #21,569
- Jun 24, 2015 8:01am Jun 24, 2015 8:01am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
US Q1 GDP third reading came as expected ( -0.2 % vs - 0.2 %) and USD is getting some love again. After the news has been published USDCAD managed to break the trend line and it is moving in a bullish zig zag. POC which stands at 1.2300 ( L3, previous swing breakout, 50.0 ) marked the bullish breakout of the pair which started at 1.2280 ( L4, 61.8). So the zone which has been identified as 1.2280-1.2300 should provide bounces towards 1.2370 and 1.2400. Only if the pair breaks 1.2250 it could return to neutral to bearish territory.
- #21,571
- Jun 25, 2015 2:39am Jun 25, 2015 2:39am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
Here is the accurate pivot point table for today - GBPUSD
- #21,573
- Jun 26, 2015 2:44am Jun 26, 2015 2:44am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
GBPUSD pivot points
- #21,574
- Jun 26, 2015 4:45am Jun 26, 2015 4:45am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
After some good movements of EURUSD during previous months , June has mostly been very choppy for EURUSD pair. Greece vs EU is all over this pair and that has been reflected also on charts where positional trading has been futile.
Still taking some fundamental facts and possible solution, aligning it with technical analysis, we could spot a bearish consolidation around 1.1200 zone. Having dropped from 1.1400 levels to 1.1200 levels points to conclusion that a relief rally fade could be the option. 1.1235 (38.2, H4, previous swing h/l) and 1.1270 (H5, 50.0) could be the spots for a short trade but stops should be kept around 1.1310 just in case. targets should be 1.1165-50 where the break of the level leads to 1.1120 followed by 1.1090.
For any trades taken on this pair, recommended risk should be 0.5 % as the EUR has been mostly governed by carry trades and bond markets throughout the summer which has been adding to technical and fundamental misalignment
Still taking some fundamental facts and possible solution, aligning it with technical analysis, we could spot a bearish consolidation around 1.1200 zone. Having dropped from 1.1400 levels to 1.1200 levels points to conclusion that a relief rally fade could be the option. 1.1235 (38.2, H4, previous swing h/l) and 1.1270 (H5, 50.0) could be the spots for a short trade but stops should be kept around 1.1310 just in case. targets should be 1.1165-50 where the break of the level leads to 1.1120 followed by 1.1090.
For any trades taken on this pair, recommended risk should be 0.5 % as the EUR has been mostly governed by carry trades and bond markets throughout the summer which has been adding to technical and fundamental misalignment
- #21,579
- Jun 29, 2015 7:44am Jun 29, 2015 7:44am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
AUDUSD has broken through the weekly trend line support and currently it is retracing towards possible rejection zone. POC comes at 0.7680-90 ( H3, 61.8, trend line, near term sellers ) but we also need to pay attention to any close below the level. The pair has closed "retail gap" after the weekend volatility caused by Greece/EUzone negotiations and it has reached 0.7585 where it has made a spinning top/master candle rejecting the support for further retracement to the upside. POC zone could reject the price towards next support - 0.7620 while the momentum break ( with stop grab ) or H4 close below 0.7585 should target 0.7540.
