FinancialGamblR

FinancialGamblR

Very interesting end of the week for GBPCAD. Price made a strong and clean break above the weekly level at 1.72769. It'll be very interesting to see how this pair trades for the weeks to come. If price can hold above this level, I think we'll see very explosive momentum.

FinancialGamblR

Noticed a very standard breakout play. CHFJPY has been ranging since the beginning of 2024 and is teasing a breakout to the downside. The main risk, however, is that this breakout may be short-lived. Keep in mind that CHFJPY is still in a dominant uptrend since I'd reserve this for a quick counter-trend trade if momentum persists.

FinancialGamblR

NZDCAD has been ranging since December 2023. More specifically, this range formed in early December (of 2023) when price failed to form a new higher high. I've been monitoring this pair on and off. While I have observed previous fake breakouts, or fakeouts, I would say the confidence level that this latest breakout holds is much higher. This comes down to one...

FinancialGamblR

GBPSGD's weekly price action appears cleaner than most of the other pairs I've been watching. Looking at the key levels, it appears that price is gradually recovering from the selloff initiated in mid-July. The last higher-low bottom out was in mid-October of 2023. The latest higher-low formation and breaks the upper range boundary. It's also a stronger...

FinancialGamblR

Gold, or XAUUSD depending on which ticker you go by is playing around an interesting weekly level. The 2,035 level has been touched four times since 2020. August 2020: first touch and then sold off July 2022: second touch and then had a stronger selloff January 2023: third touch and then followed by a weaker selloff November 2023: fourth touch and no...

FinancialGamblR

CADJPY is one of three Japanese yen pairs that I held through the weekend. the other two pairs are EURJPY and SGDJPY as they share very similar price action patterns. The selloff in December 2023 seemed short-lived to me so I found an opportunity to enter long earlier this month. My best guess for the selloff is the collective premature anticipation of interest...

FinancialGamblR

Unlike most other pairs, AUDNZD has been oscillating in nature. If the past has been any indication, it consolidates in a range and then sustain breakout momentum. There's significant volatility with this pair, making it a good choice to catch these breakout momentums. As long as price continues to below the lower range boundary, I anticipate high likelihood of...

FinancialGamblR

The EURJPY pair was trending quite steadily over the past year. After peaking in November 2023, there was a pretty sharp pullback in anticipation that we're exiting out of a high-rate environment. Those expectations seem quickly quashed as we enter 2024 and the upside breakout signifies further upside potential, especially as the upper range boundary continues to...

FinancialGamblR

I see an interesting reversal play to the upside on NZDCHF. This is a pure technicals play to trade the breakout on this week's session open. Price fails to push to new highs and signal the start of a potential downtrend. The massive selloff doesn't push price to new lows so we have a support formation. Moving average crossover is an early signal that...

FinancialGamblR

The Canadian dollar appears to be bearish against several pairs. The pair that I'm eyeing is the CADCHF. Based on the latest range breakout, this is another swing trading momentum play. As long as price doesn't revert back into this range, I think further downside is very likely.

FinancialGamblR

Similar structure to the AUDSGD trade idea I just published, but I have a few more points to add here. I was originally short this pair. I attempted to make another attempt to enter short and ended up taking out a loss. Since price broke to the upside of this range, my directional bias has changed from bearish to bullish. Momentum picked up nearing last...

FinancialGamblR

The Singapore dollar appears to be weaker against several pairs. I believe the "cleanest" setup is on the AUDSGD pair, but this signal also exist on the EURSGD pair as well. Price makes a new lower low. Price fails to push to new lows, confirming that the previous low point holds up. The third test and failure of forming a new lower low is a good indication...

FinancialGamblR

I see high probability to the downside for the week ahead. Here's a breakdown of the five key points I'm looking at. Price tops out in late-August of 2023. Price fails to push above previous highs, which serves as another indication that this range marks a relative high point for this pair. Price re-enters this range, but sits lower than the previous high at...

FinancialGamblR

Early last week, traders started taking profit on US dollar long positions in anticipation of an end to rate hikes. The Federal Reserve shared a sentiment that there likely won't be any further rate hikes, but they will remain elevated depending on how inflation figures come out. From a technicals perspective, I am beginning to see some major shifts happening....

FinancialGamblR

The era of high interest rates may not persist for much longer. Or, at least, that's what price is telling us. The US dollar sold off against pretty much all of its counterparts, maybe except for the Canadian dollar. It appears that investors believe that the Federal Reserve may not be sustaining a higher interest rate position and US dollar longs are closing out...

FinancialGamblR

GBPNZD has been such a weird pair for me. It gives off bearish vibes as annotated in my original analysis. As labelled on my chart, I entered short last week and got stopped out a few days later. Now that price entered and then exited the previous range on the downside, I'm enticed to make another attempt at a short entry. Plan is to wait for 1-2 more daily...

FinancialGamblR

Back in October, I managed to capitalized on the initial range breakout. Another momentum play has been observed based on the price action detailed below. Price forms a lower high, which also indicates that we're likely seeing a price ceiling. Momentum picks up towards the downside on the neckline break. The range era has come to an end as price breaches...

FinancialGamblR

The price action I've observed on the daily timeframe points to a very nice bearish sentiment in five key points. Price peaks in August by forming a range, which breaks near the end of that month. Consolidation forms shortly after and downside momentum forces price to break below the lower range boundary. This marks a technical trend change as defined by the...