AlgoVenture

AlgoVenture

Despite an unexpectedly high job number was reported during NFP, the unemployment rate jumped by 0.2% and Fed Powell talking down on its currency has caused the dollar to maintain its bearish stance. As seen on the chart, the price as constantly breaks lower for every rising trendlines that appeared along the way. Finally, a falling has formed while the price kept...

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The dollar, after ending the month of December, has formed an evening star formation in the monthly chart. The MACD base on the Daily chart is also trading below 0 on the verticle scale, signalling for more bearish movement to come. The price is now retracing upwards and we can assume that it will resume falling as it retraces back to the 96.5 region.

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For the past 13 months, NAS100 has stayed about the 6200-6300 supply zone to maintain an overall bullish trend. However, since this level has been broken, it could simply mean that the bull is out of steam and the bear is taking charge now. This can be further confirmed by the recent appreciation of some of the safe haven asset such as gold and Swiss franc. While...

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The dollar was rejected from 97.7, a 19-month demand zone, and fell for 4 consecutive days (if we include Wednesday too). Although the Fed raise rate from 2.25 to 2.5 as expected, the dampening of fewer rate hikes in 2019 is taking a toll on the dollar. The dollar managed to recover fully from last Thursday drop but may not continue so as it is now resisted by a...

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It will be a holiday week for the EURUSD and thus EURUSD will be very little affected with extremely low data releases. The EURUSD was appreciating steadily last week for 4 consecutive days and finally plunged on the last trading day during the past few hours before the week ended. This is largely due to the closure of long positions held through the week. The...

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For the first half of this trading week, the dollar has shown weakness as it reached a peak at 97.7. Although the Fed is expected to raise rate later during the Fed Funds Rate release, the market is also expecting lesser rate hike later in 2019. The dollar is well expected to drop further to key level 96.4, an important supply zone. The trend of the dollar will be...

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USDJPY has appreciated for 2 consecutive days. The 2nd wave of appreciation is clearly weaker than the 1st wave from the bottom of a symmetrical triangle. The upside is now very limited and thus providing an appetite to sell near the current high. The resistance at the top near 113.6 to 114 is formed by a demand zone, top of a 2-month symmetrical triangle, as well...

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Since USDJPY rebounded off strongly from its 2018 low at 104.6, the price found strong resistance at a 2-Year supply zone around 114. The price has fallen into a prolonged range since the beginning of October and price was seen rejected again as it approached 114 in early November. As we are approaching December, there's is a high possibility that the price may...

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The dollar was not able to break higher since mid-November and is seen weakening amid lowered expectation on rate hikes. The dollar has quietly crept below a rising channel, signalling that the price may start to weaken. The Fed members are now feeling that the current rate is either close to neutral or has already achieved neutralisation. The means that the pace...

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Although the dollar seems to be turning soft, the shared currency still proved to be rather weak. The price is still very undecided and the upside is limited with strong resistance seen at 1.15. Asides from the challenges faced in the eurozone, the uncertainty of brexit is also weighing on the euro. EURUSD is most likely to move sideways further and 1.15 would be...

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The gold stood strong last Friday after a weak NFP, causing a rise in the demand of a safe haven asset. The gold has successfully broke above 1244 and is on its way to 1260. The price of gold is very much affected by the dollar and now that the dollar is weakening on weakening Fed hike expectation, the gold is expected to continue on its rise. If we are lucky...

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The yen could strengthen against the dollar further as the dollar starts to turn weak on weakening Fed hike expectation. USDJPY was seen breaking below a symmetrical triangle and a demand zone was created as a result which may aid the price to fall further. The dollar may retrace higher at the beginning of the week and that will cause USDJPY to retrace back into...

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Since USOIL reached rock bottom at 50, the price has fallen range bound. The price is seen trading within the range of 50 to 55 since mid-November. 50 is definitely a tough nut to crack and thus more rebound is expected to occur as price goes for another retest.

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From my previous post in Chinese version, the price failed to garner enough selling strength from the supply zone just above 1.14. However, the rebound from a slight drop prove to be weak as well, giving the seller another opportunity and space identify a stronger supply zone to short. Base on the technical setup, a harmonic pattern is about to form within a...

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Since EURUSD has broken below a 3-month low at1.13, the price has retraced significantly, but with little sign of reversal. A retracement channel has been formed for the past 4 days and the price is about to reach a psychological level at 1.14. The level at 1.14 is a combination of not just a psychological number, but also an important supply zone combined with...

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AUDUSD was seen resisted again at a 2-month long resistance level 0.73. A bat formation is formed this time and an inverted hammer has appeared right at point D of the bat formation. As the dollar has retraced significantly after break above 97, it is very likely that the dollar may resume appreciation. Powell has stayed hawkish on rate hike too. Therefore, with a...

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The oil price has fallen for a straight 10 consecutive trading days. A reversal structure has appeared as the price rebounded off from a 9-month supply zone, as well as the bottom of a 1-month falling channel. Saudi Arabia is also going to cut its oil production by half in order to prevent the oil price from depreciating further.

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EURUSD has halted a falling trend amid breaking above a 2-week falling trendline. Awaiting price to retrace to supply zone 1.1370 @ FR618 level.