Tradeciety

Tradeciety

The 1873 area will be the dominant topic going into next week's trading. The last time we saw a strong rejection at that same level. However, we do not expect to see a similar bounce this time. The ADR is moving at a very low level. A look at NYSE data showed that 429 stocks are trading at their 52 week lows and only 2 at their 52 week highs. This is a very...

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Although the trendline is moving downwards, it looks like the EUR/USD is not sure where to go. Keep in mind, during the Chinese sell-off both the Euro and the USD served as some sort of safe haven currencies which meant that both appreciated. If you have two strong currencies trading against each other, the pair ends up going nowhere. The USD shows a similar...

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Obviously, everyone is watching 0.694 since it is the current support level, but the real test is going to be 0.69. There is a lot of premature selling going on on a retail level, but it's not the time to short just yet. The triangle shows that price keeps pushing back into the support level and the bounces become smaller and smaller. Patience is what is needed...

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We were looking for a stronger bounce after the 4H Divergence on the RSI but the Aussie picked up supply as highlighted in the blue area and sold off strong again. The support level is a big one and a break and retest could trigger a new short wave.

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We keep mentioning the CADJPY as a great pair to trade. Crude keeps falling which drags down the CAD and China is still causing some safe-haven flows which helps the JPY. The pair has almost reached the demand zone and the 176 Fib extension.

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10,100 was an important level and the DAX made another run at it yesterday but got pushed down. If we can stay, below that level, 9,300 is the next downside target based on the 161 Fib extension.

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Last time AUD/USD traded into 0.694, price started a major rally. As of now, the reversal did not occur and price is making another run into the support level. A break below could squeeze longs. We are neutral until we make a new attempt to break the support level.

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Trading currencies is all about finding strength and weakness - the CAD/JPY is the best cross these days: The CAD is very weak with slowing economic data and also the sell-off in Crude is hurting the CAD. On the other hand, the JPY is rising sharply with risk aversion flows. Crude just broke $31 and is off to new 12 year lows. As of writing this, the Shanghai...

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Don't get too caught up in the intraday moves in the EUR/USD. Taking a look at the Daily timeframe shows that the range has been tightening.Price has been hovering between 1.099 and 1.08 - with one failed breakout - for the past weeks. Both EUR and USD saw some strengths recently after the FED rate hike in the US and the safe-haven flows in the EUR. Keep in mind...

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Go to any financial media site and you can read that European equities were up on Monday. A look at the chart shows a very different picture. Although it is surprising that the DAX did not fell further, the bullish rejection and the inside pinbar clearly indicate that the bears haven't still given up. The Shanghai Composite is currently hovering around +-0% for...

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Despite Monday's 5% drop in the Shanghai Composite, the AUD/USD managed to squeeze in a short relieve bounce. However, the support bounce is not convincing and the fundamental picture signals further shorts. All it takes is another strong down day in China and the Aussie could continue it's move down. There are two support levels just above each other but once...