SimplePhi

SimplePhi Updated 

Taking a contrarian view with regard to current sentiment. The past few weeks of USD buying shows an already well priced in a rate hike for today (15th Mar 2017). The key concern should be the pace of future rate hikes within the year. With this in mind, some traders may look to take profit on USD Longs if the Yellen and Co. come out less hawkish than they have...

SimplePhi Updated 

My Technical USDJPY setup into FOMC: •I'm banking on an initial bullish reaction into the 117.800 old resistance area, and then a sell-off to the bottom of the range (~116.500). •If it just drops, then maybe I can catch the break and retest of 117.300 current intraday support.

SimplePhi Updated 

Notes: Classic break and retest of a major descending trend-line. Target is at 0.74 - the 38.2% Fib Retracement of the Bear Wave from the 78300 high to the 71600 low. Trade will be scaled in as needed. Key Risks: Renewed June FOMC Rate Hike expectations. (USD upside) Incredible jobs figures this NFP-Friday. (USD upside) All wave labels are arbitrary.

SimplePhi Updated 

Notes: Technical markers on the chart, and are pretty straightforward. Original idea is linked below as well as the original Long trade.

SimplePhi Updated 

Despite the bullish pressure from the beginning of the week, there has been no H4 Close above the 150-Week SMA. Continued failure at this point and price will likely be pushed back down to 110.600 Pivot / Previous Resistance / 50% Fib of the Wave A-B on Chart (Wave labels are arbitrary in this case). Strategy: Wait and See approach for now. A H4 Close...

SimplePhi Updated 

Pair is breaking out of the temporary correction after finding support at the 50.0% Fib of Wave C to D at around 1.5900. (wave labels are arbitrary in this case). Further upside expected, especially on reduced Brexit fears. Risk-on theme will also keep the GBP supported. Target and Stops on chart.

SimplePhi Updated 

Notes: 200 Day SMA acting a formidable support at 1.1100. Profit taking should take place at this point, temporarily halting the bear run that began in early May. Provided that the Fed is on course for a Rate Hike in June, I maintain a Bearish bias on this pair. With that being said, I look to the 1.22 - 1.23 zone for further Shorts due the technical...

SimplePhi Updated 

Primarily a technical play but with the recent ECB action, the CHF may appreciate versus other pairs as the EUR catches a bid. Brexit fears, as much as they seem forgotten may take centre stage once more as the first quarterly round of Central Bank activity ends next week. This contrast makes FX:GBPCHF a favourable play. With the break of the ascending...

SimplePhi Updated 

With an ECB not keen on pursuing further rate hikes, the Euro should appreciate further than the Greenback, up until the lead up to the next increase in interest rates by the FOMC. Technical levels on chart. Price is about to break a tiny wedge. Longs on break and close above this descendant trend-line. Targets: Target 1: 1.120 Target 2: 1.135

SimplePhi Updated 

Technical Analysis: Technicals are on the chart, the Fibonacci Retracement, S/R Levels and Measures of Trend. The pair is trading below the 200 Day MA and the Long Term Pivot at 1.56600. Typically, short positions are sought with this in mind. If today's daily candle close is bearish, then the candlestick formation becomes an Evening Star at 52400...

SimplePhi Updated 

Technicals: The series of Lower Highs that have played out the past few weeks, suggest that a downtrend is in place. The recent bullish wave, capped by the 1.55 handle could indicate that the Bears may further take control of the pair and push it to the bottom of the symmetrical triangle within which the pair is trading. Initial target is just above...

SimplePhi Updated 

Technical Analysis: A small Head and Shoulders Pattern is evident on the chart. A break of 91.600 exposes the first target at 90.700. 93.00 has of late proved to be quite the Resistance Level as the pair failed to achieve a daily close above this handle with two notable failed attempts on the 9th and 12th of October daily candles. It is important to note...

SimplePhi Updated 

Technicals: The 1.49 area was well respected as resistance. This level also happened to be a 61.8 % Fibonacci Retracement Level for the high and low between 1.17 and 1.09 respectively. The bears may move in to take further control of the pair. The greenback is still in a relative uptrend as major lows haven't been broken. My personal strategy is therefore to...

SimplePhi Updated 

Note the Hidden Bearish Divergence . This could be the precipice of a large bear move. Especially since price is being capped by the 50 Weekly SMA at 1.13800 . 1.1400 is major resistance. -- If the Daily candle today (13/10/2015) closes as a bearish candle, the candlestick formation will be a Morning Star. -- Current intraday Pivot is at 1.133 at time of...

SimplePhi

After printing a small bull candle on H4, I have a feeling that USD Bears may check in for a while, at least until someone sparks back the Bulls . -- Sell Limit at 0.63300 . This zone has a cluster of potential resistance as follows: 38.2% Fib 25_EMA_H4 50_SMA_H4 We are also trading below the current intraday pivot at 0.63550.

SimplePhi

On a larger time frame the USDCAD is a Long Trade. This is because of divergent monetary expectations with regard to the BoC and the Fed with the latter having recently cut rates for the CAD and a rate hike being priced in for the USD. This is a technical short off the 1.300 Handle that confluences with the 261.8 Fib extension of the Bearish corrective wave from...

SimplePhi

(DUAL VIEW) On a longer term scale the GBPCAD is a Long trade due to the divergent monetary policy expectations with BoC that just cut rates and a BoE that is confident about hiking rates in the near future. This is a technical Short off the Session high of 2.03 before taking a Long Position after the technical limits are reached. Most of the technical...

SimplePhi

On a longer term scale the GBPCAD is a Long trade due to the divergent monetary policy expectations with BoC that just cut rates and a BoE that is confident about hiking rates in the near future. This is a technical Short off the Session high of 2.03 before taking a Long Position after the technical limits are reached. Most of the technical details are on the...