USDCHF is finding support prior to the USD Durable Goods Orders data, which measures the cost of orders received by manufacturers for durable goods, which means goods planned to last for three years or more, such as motor vehicles and appliances. Technically the pair is at the key support zone, and has made a break to the upside of a descending wedge pattern. The...
USDCHF Is at support prior to the CHF unemployment rate data. Technically the pair is in a corrective pattern, above the significant 0.9070 level, and the PPO is showing bullish divergence .
EURUSD has traded in a descending wedge into the key pyschological 1.2000 level support. We've also seen PPO bullish divergence, another bullish indication for the major forex pair!
NZDUSD has traded into resistance today prior to the RBNZ Inflation Expectations information, which shows the Royal Bank of New Zealands outlook at future inflation rates. Technically the pair is at a support resistance structure zone, performing a retest of a broker trendline, and the PPO is giving bearish divergence. We anticipate downside into the 0.7163 level.
GBP USD is trending to the upside and has done a break and retest on the intraday timeframes. With the usd being a sell we anticipate this trade to have some continued upside.
GBPUSD has sold off now giving us a chance to enter long prior to the GBP Markit Construction Data release, which shows business conditions in the UK construction sector. Technically the pair is above the 1.3565 pivot but below the 1h 50 moving average. We anticipate further upside on the cable into the 1.3670 level.
EURUSD is primed to push to the upside, holding above the pivot!
GBPJPY is trending to the upside this week prior to the GBP Markit Construction PMI, and we anticipate continued upside into this event. The data shows business conditions in the UK construction sector. Technically the pair is at the 50 moving average and above the 139.94 support level and we anticipate upside into the 141.210 level.
Our NZDUSD Short is running nicely in profit! As covid cases in Australia increase the pacific currencies have taken a hit today.
With the 900B USD stimulus in the USA all to be printed we anticipate deppreciation on the USD, especially against the CHF.
GBPUSD has broken the ascending trendline and we are looking for further downside as COVID 19 Cases increase in the UK.
AUDUSD is trending to the upside today ahead of US elections. A break above the resistance trendline could signal for buyers to drive price higher, likewise a rejection of the resistance line could signal further selling. We are bullish AUDUSD today as traders may look to reduce USD exposure approaching the elections. It is worth taking into account the RBA's rate...
NFP Approaches and the USD is still depreceating rapidly. We are bearish. Watch the key pivot levels charted.
THe pound is still trending to the upside, with Pfizer vaccine approval pushing it higher. Brexit woes have spurred intraday downside, but I am of the opinion a trade agreement will be reached. Watch the key pivot levels charted.
EURUSD is trending to the downside today prior to Germany's trade balances data being released. The data is a balance between exports and imports of total goods and services. Technically the pair is trading below the 1h 50 moving average and holding below the 1.2130 pivot, and we anticipate continued downside into 1.2039. Execution on this trade monitored thanks...
It is clear why so many traders use the 50 period moving average, just one look at this chart shows how useful the indicator is. Used by traders as a dynamic level of support or resistance, the 50 moving average takes the last 50 candles / bars, and shows the average closing price of those 50 periods. You can see how the EURJPY has respected it as both a support...
Hi Traders, Here is a visual representation of correct use for fibonacci levels. Draw the fibonacci tool by connecting a swing low to a swing high.