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AUD/CAD to retest key Fibo level

On a monthly chart, AUD/CAD is stuck between 100 monthly MA and 55 monthly MA. The pair is in an uptrend and still bullish. The pair tested key Fibo 61.8% and I expect a re-test in the coming weeks.
On a weekly chart, the pair below the 200 Weekly MA and touched 100 Weekly MA.
The Reserve Bank of Australia (RBA) meeting is scheduled for May 3 and I expect them to hold, which will additionally support the pair the pair for a re-test of the 61.8% at around 1.02000.
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AUD/CHF faces multiple resistance

On a monthly chart, AUD/CHF is facing multiple resistance. As it can be seen on the Picture 1, the pair is currently below the horizontal support/resistance line, which comes at around 0.7720. In addition, the pair has spent more than a year below the descending line.

Picture 1

On a weekly chart, the pair is testing the triangle resistance for the fourth time (picture 2). If it breaks, which is very likely, the pair will test WMA 100, which is around 150 pips of the current price.
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AUD/JPY facing significant pressure to the downside

AUD/JPY continues to respect the channel lines and push to the downside. If you look at the Monthly chart, the pair is below the 100 MMA and 55 MMA, as well as below 50% Fibo level. The pair rallied properly the last time it touched 61.8% of the long time Fibonacci level. Since I expect yen to strengthen furtherly, I can see AUD/JPY falling well below 0.80 and possibly testing 61.8% again.

Picture 1

Weekly chart (picture 2) confirms the same theory since the price is well below all three movin…
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AUD/NZD in the ascending triangle

As it can be clearly seen on the weekly chart (Picture 1), AUD/NZD is in the clear ascending triangle. The ascending diagonal support in combination with WMA 100 and 55 WMA is supporting the price. The horizontal resistance at 1.1300 presents so called "line in the sand". The last time when the price closed above this line was November 2013. Any sustainable break above this line will facilitate much higher break out.

Picture 1. AUD/NZD weekly
Picture 2 gives an overview of how important is this…
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AUD/USD faces paramount resistance

If one goes through different time frames in AUD/USD, 0.8060 is THE level. Whenever the price hit this level in the past, it facilitate a strong reaction in both directions. Once the pair broke this important support in January 2015, it came back to re-test it later in the form of a resistance and it failed to get back above it (Pic. 1).
Picture 1. AUD/USD monthly

The weekly chart offer us another perspective in trading this pair. The pair is in the clear downtrend with the diagonal descendin
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CAD/CHF testing channel resistance

CAD/CHF is still struggling to get out of the descending channel. After the SNB scrambled the 1.20 floor in EUR/CHF and unleashed swissy strength, the franc is still in consolidation mode against almost all currencies. The channel resistance has kept the price below for more than a year and as it can be seen on the picture 1., the pair is making lower highs and lower lows. Even if the pair breaks out, the combination of horizontal resistance and 100 WMA between 0.7760-0.7800 is likely to keep th…
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BrExit looms large over sterling

On a monthly chart (picture 1), the pair is aiming to break a 7 year old descending trend line. In addition, the pair is facing the 55 MMA at 0.7980. If we happen to have a break, 100 MMA offers another line of resistance at 0.8230

Picture 1. Monthly EUR/GBP

On a weekly chart (picture 2), the pair broke through 200 WMA, which now acts as a support. Between 0.8000 and 0.8100 there is abundance of resistance (200 WMA, 38.2% long time Fibo as well as the multi year trend line).

Pictur
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CHF/JPY to break the 50% Fibonacci level

CHF/JPY is testing its long term support around 111.30. This horizontal support together with a diagonal resistance create a descending triangle (picture 1). In addition, the 100 WMA offers more support to the pair.

Picture 1. CHF/JPY weekly chart

If the pair breaks down by accompanying yen strength elsewhere, next target will be 107.50. As it can be clearly seen in the picture 2, 107.50 proved to be a big resistance before and it should act as a support now, together with 55 MMA. 61.8% Fibonac…
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NZD/JPY threatene to break multi year support

NZDJPY is in the danger of falling below multi year support (picture 1). Monthly chart offers us perspective of how important is this ascending support line. You can see that the price is between 100 MMA and 55 MMA.
On a weekly chart you can see that we are currently in a triangle. Since I believe that yen will significantly strengthen against all currencies in the next few months, hence I believe in the break down in this pair. Picture 2 shows us that market price is below all three important m…
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NZD/CHF still trapped in the channel

Decision of the RBNZ on May 3rd will hopefully spark some movement in the NZD/CHF since the pair is still in consolidation. As per picture 1, the weekly chart shows us that the pair is trying to break out of the triangle to the upside and test 0.6980, which is the 100 WMA. The next hurdle would be 0.71220, which is 61.8% of the big Fibonacci move.
Picture 1. Weekly NZD/CHF chart
On the daily chart, the price is above 200,100 and 55 DMA and clearly supported by the ascending diagonal line.
I ex…
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