EURSGD: Sell opportunity on recurring pattern.The pair has been trading within a 1M Channel Down (RSI = 40.510, MACD = -0.011, Highs/Lows = -0.0132) since the start of the year. Recently is has been following a previous pattern within the Channel Down that calls for a bearish extension. We are taking this sell opportunity to aim near the 1.4810 Support. Attention is required and readiness for an early exit as this levels has been holding since November 2015.
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Pairs
CHFJPY: Buy opportunity on Double Bottom.The pair has been trading within a 1W descending channel for most of the year (RSI = 40.168, MACD = -0.690, Highs/Lows = -0.5054) and last week rebounded on the 106.885 1D Support. This is a potential Double Bottom formation and we are taking this buy opportunity to aim at the nearest 1D gap at 108.500.
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NZDUSD: New Low expected.The pair has been trading inside a 1D Channel Down since early April (RSI = 34.711, MACD = -0.003, Highs/Lows = -0.0013, B/BP = -0.0056). On Monday we had a new Lower High rejection at 0.65600 so the Channel should now push for a new Lower Low. The 1W Support Zone is at 0.64363 - 0.64240. Our sell target = 0.64500.
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DXY Expecting More Downside?Expecting DXY to have continued weakness.
This will be helpful to know for all USD pairs.
Remember: Think of pairs as a teeter-totter (Weakness:LightWeight) & (Strength:HeavyWeight)
USD/XXX = \ bearish movement
XXX/USD = / bullish movement
*Generally speaking the XXX side matters just as much*
Pair Trading Idea DUK/XELDUK and XEL have a 84,3% correlation over 60 market days.
Applying some of the most popular indicators on the pair DUK/XEL shows an interesting pattern. While XEL has been clearly outperforming DUK since several weeks, a trend reversal seems to occur. DUK might catch up in the coming days and weeks. The daily and the weekly RSI (1st indicator at the top "Ultimate RSI Multi Timeframe"), the Wave Trend Oscillator (2nd one) and the ultimate MACD oscillator (3rd one from the top) reversed recently from their lower ranges. The Squeeze Momentum Indicator (at the bottom) shows a nice divergence, which is also observable on the RSI .
The setup is worth being given a shot: Short XEL, Long DUK . The strategy is market-neutral and is profitable when DUK starts to outperform XEL.
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Pair Trading Idea JPM/PRUApplying some of the most popular indicators on the pair JPM/PRU shows an interesting pattern. While PRU NYSE:PRU has been clearly outperforming JPM JPM since several weeks, a trend reversal seems to occur. JPM might catch up in the coming days and weeks. The daily and the weekly RSI (1st indicator at the top "Ultimate RSI Multi Timeframe"), the Wave Trend Oscillator (2nd one) and the ultimate MACD oscillator (3rd one from the top) reversed recently from their lower ranges. The Squeeze Momentum Indicator (at the bottom) shows a nice divergence, which is also observable on the RSI.
The price action confirmed the reversal in the last days. The setup is worth being given a shot: Short PRU, Long JPM. The strategy is market-neutral and is profitable when JPM starts to outperform PRU.
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