Activity

  
Avatar

Ozzie choppy price action to continue

Positive momentum and an upside break of resistance suggests further gains ahead in the coming days. I am not a huge fan of this pair though as we have seen a lot of choppy price action over the last year. It's difficult to predict levels by May but I suspect we will see some dollar strength by then.
Charts:
-AgentSmith
Read full story
Translate to Inglese Show original
Avatar

CADJpy pennant pattern forming

We see another pennant forming here in cadjpy highlighting my overall view of yen strength this year. I anticipate price to consolidate for the next few months providing some range trading opportunities before we see a meaningful break.
Charts:
-AgentSmith
Read full story
Translate to Inglese Show original
Avatar

CHFJpy to continue trending

ChfJpy remains firmly bearish. There was a sharp pullback yesterday but a new low was made reinforcing the bearish trend. I remain short with momentum indicators still deep in negative territory.
Here are 2 alternative ideas for levels:
-AgentSmith
Read full story
Translate to Inglese Show original
Avatar

EURAud yoyo to continue

EurAud is carving out what I believe to be an ascending triangle on the daily. I expect upper resistance to be tested once more at the 1.6235 mark. Very good risk/reward setup at current levels with the possibility of 1500 pips heading into the end of April. If this pattern plays out we can expect a sharp break to the upside toward the end of the year.
There is a possibility of a double top on this pair. I do find this scenario quite unlikely given the global unwind of the carry trade which has …
Read full story
Translate to Inglese Show original
Avatar

EURCad piggy backing on oil

We've seen increased volatility in this pair since the beginning of the year. As such I expect volatility to contract. I don't think we will have as big gains as the previous 2 months as most of the move is priced in.
I expect EurCad to continue trending downwards on the back of the strength in oil.
-AgentSmith
Read full story
Translate to Inglese Show original
Avatar

EURGbp should remain elevated on brexit concerns?

EurGbp is looking top heavy but any selling in this pair is risky given the associated risks with Britain and the pound at the moment. I expect some profit taking to occur but overall we should see a decent bid in the euro until we get some more clarity on brexit heading into the end of June.
Charts:
-AgentSmith
Read full story
Translate to Inglese Show original
Avatar

EURJpy in a well defined channel

I have some important technical levels that I expect to be hit in the 118.35 area soon, provided the following channel holds. The trend is still down however and probably wise to continue trading with it. Looking for for 119.75 area in early May.
Charts:
-AgentSmith
Read full story
Translate to Inglese Show original
Avatar

EURNzd

EurNzd continues to trade sideways on increasing volatility. A pennant pattern continues to form here but may take some time to play out. So this forecast is a bit of a stab in the dark. I do expect both sides of the pennant to be hit again before we break out so this may provide a good opportunity for a trade.
Charts:
-AgentSmith
Read full story
Translate to Inglese Show original
Avatar

Hoping for a breakout in Euro Dollar

has been trading sideways for the better part of a year now. There appears to still be a lot of short interest. I'm not a huge fan of trading this pair as we may yet see more consolidation to come. I'm on the lookout for a breakout in April to the upside with quite an ambitious target in mid May of 1.23. This consolidation has to end some time!
Charts:
EurUsd
-AgentSmith
Read full story
Translate to Inglese Show original
Avatar

GBPAud still needs to plug the gap

The ozzie dollar has been relatively strong over the last couple of weeks. There is a reasonable gap in this pair which occurred on 22 Feb based on brexit fears. Price action typically needs to close these gaps at some point. There is some heavy resistance in the 1.96 area which will need to be overcome first before that gap can be tackled.
Charts:
-AgentSmith
Read full story
Translate to Inglese Show original
Avatar

GBPCad looking very oversold

We've had a 2000 pip drop in this pair since the beginning of the year on brexit concerns and a rebound in oil. I believe that oil still has lower to go in the medium term and the impulsive move on the dailies suggest that we should see a pullback to the previous neck line in the 1.99 area. Looking for a long entry in the next couple of weeks with a target price at the beginning of may around 1.9330.
Charts:
-AgentSmith
Read full story
Translate to Inglese Show original
Avatar

GBPJpy consolidation to take place before resumption of main trend

The pound is looking very oversold across the board, as previously mentioned in other pairs. Momentum indicators remain in negative territory highlighting the risk of buying this pair for any extended period of time. I expect a range of 157 - 171 to play out over the next couple of months before another big risk push lower. For this forecast I'm looking for 165 by May.
Charts:
-AgentSmith
Read full story
Translate to Inglese Show original
Avatar

GBPNzd threatening breakout

The 2.1475 mark provides some heavy resistance but dailies are heavily oversold. From a purely technical perspective price action suggests to the upside. With concerns over brexit and the RBNZ recently cutting rates there seems to be no fundamental driver that dominates one currency over the other.
Charts:
-AgentSmith
Read full story
Translate to Inglese Show original
Avatar

GBPUsd in consolidation mode

I'm anticipating a year or 2 of consolidation in this pair before we start to see some meaningful trends. The trend if firmly down on the weeklies so the dollar should remain well bid. Expect range trading conditions until the June referendum for brexit is held.
Charts:
-AgentSmith
Read full story
Translate to Inglese Show original
Avatar

Japanese bear trend to resume

Despite this substantial rally Japanese stocks are still down 20% year to date. Volatility remains high so a reduction in exposure is necessary. The short side is still the safer bet but I suspect we won't see a more meaningful move until later in the year.
Charts:
-AgentSmith
Read full story
Translate to Inglese Show original
Avatar

NZDCad bear trend still in tact

New lows were made in this pair last week on the back of the rate cut in New Zealand. Some impulsive candles suggest we will require a pullback first before reloading shorts in the 0.9050 area. I have a May target around 0.8550.
Charts:
-AgentSmith
Read full story
Translate to Inglese Show original
Avatar

NZDChf expanding triangle play

The expanding triangle here is self evident and with markets in risk mode there is a good chance we will hit the bottom support line before possibly a breakout to the upside but I suspect this will only happen later in the year. I was hoping to get in on a retouch of the above resistance but it may already be too late.
Charts:
-AgentSmith
Read full story
Translate to Inglese Show original
Avatar

NZDJpy descending triangle in play

A beautiful descending triangle is playing out here in NzdJpy but patience is required to see the target met. We could quite possibly see support at 73.60 break shortly but price action suggests we will have to wait a few more months. In the mean time shorts are favoured. A close below 73.60 will be an immediate sell.
-AgentSmith
Read full story
Translate to Inglese Show original
Avatar

NZDUsd retains bearish tone

Look to sell rallies in this pair. A pennant was forming over the last couple of months, however kiwi was not able to retouch the top resistance area of the pattern and continues to make lower highs. I don't think the trend is in yet and will provide some trading opportunities on both sides, however any long trades should have appropriate stops set. Looking for 0.6450 in May.
Charts:
-AgentSmith
Read full story
Translate to Inglese Show original
Avatar

USDChf remains rangebound

Trading in Swissie remains difficult to predict, price action is incredibly choppy and has actually been that way since the 2011 European debt crisis. With severe negative rates and a strong dollar I am hoping for a trend to form in 2016 with good upside potential. That remains to be seen though.
Charts:
-AgentSmith
Read full story
Translate to Inglese Show original
More Loading...