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NZD/USD to break below the weekly trendline support

The likelihood of Fed hiking again in June is increasing. One of the first pairs which fill itself under pressure is NZD/USD, as commodity currencies will get hit again. As it can be seen on the Picture 1, the pair is being supported by ascending trend line since the mid-2015. I'm looking for a break of the trend line as a result of Fed hike and accelerated move to the downside.
The weekly chart (picture 2), shows the bearish engulfing candle, which adds to the bearishness of this pair.
Once the…
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Kiwi to stay under pressure from Franc

This pair is in the ever-lasting triangle. The price continues to consolidate and I expect that to be the case in the following weeks. The daily chart (picture 1) shows the further consolidation and the tendency of this pair to create lower daily highs. The pair continues to stay above all three daily moving averages - 55, 100 and 200.

Picture 1. NZD/CHF daily chart
The weekly chart (picture 2) shows the price consolidating since mid-2015, after SNB shocked with removal of the 1.20 floor. We m
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NZD/JPY in further consolidation

As it can be seen on the Picture 1, the NZD/JPY is in the clear descending triangle for more than a year. The upcoming month, June, has a busy schedule with both BoJ and RBNZ on the move. In addition, the investor will look to see whether the Japanese Government will delay sales tax hike. If that's the case then we can expect further yen weakness and possible break out to the upside.
Picture 1. NZD/JPY weekly chart

The monthly chart gives us even more insight in what is expected from this pair.…
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CHF/JPY still trapped in the descending channel

This pair is still trapped in the descending channel and it doesn't seem that it wants out of it. As it can be seen on the Picture 1 below, the pair is now approaching the "bull-bear" line around 110.00. This price has kept the pair above/below for weeks and it will play big role again.
The weekly chart (picture 2) adds to the bearishness of this pair. It fell through 200 WMA and it closed below for four consecutive weeks. The pair is also trapped in between two important Fibonacci levels - 50% …
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CAD/CHF supported by rising oil prices

The pair is supported by ascending trend line from January this year. However, it has tested the trend line 5 times now and the chance of the break down increases. As it can be seen on the daily chart, two moving averages have crossed and that implies of a possible direction change.
Picture 1. CADCHF daily chart

The weekly chart gives us bigger picture. The pair is in the descending triangle and below both 200 and 100 WMA. Once the trend line is broken, the pair will keep moving towards the hor…
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CAD/JPY in the triangle

CAD/JPY is another pair currently in consolidation. The daily chart shows us that the pair is making higher lows and lower highs, that usually results in the symmetrical triangle (picture 1).
Picture 1. Daily CAD/JPY chart

On the other hand, the monthly chart gives us a bit different picture (picture 2). The pair is still supported by a slightly ascending trend line from the 2008 lows, while the 100 MMA provides a huge obstacle for the bulls. After the pair got rejected in April by 100 MMA, it …
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AUD/CHF below 100 WMA

The AUF/CHF keeps getting rejected by 100 WMA, as it can be seen on the Picture 1. The blue line is descending and it doesn't allow the price to close above it.
Picture 1. AUDCHF daily chart

The daily chart shows choppy action and hesitation from the investors. The picture 2 also is a good opportunity to see how much of a shallow bounce we had in the AUD/CHF, following the fall from 0.7600. We haven't made a proper correction thanks to Aussie weakness in the past couple of weeks, following the …
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AUD/CADbounces off the trend line support

The AUD/CAD has bounced off the trend line support, as it can be seen on the monthly chart (picture 1). The pair only touched the trend line and it rebounded towards 100 WMA, which offers next resistance at 0.9710.
However, the pair will first have to move through 0.382%, which comes around 0.9650 (picture 2). Also, around 0.9680 there is 200 DMA.
I can see the pair continuing its bouncing towards mid 0.9650. Again, a lot will depend on decisions of both BoC and RBA whether to cut rates again o…
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EURGBP developing H&S pattern

In the month of June, all eyes will be on the BrExit on 23 June. Investors will look closely and react to all polls and news prior to the big event, hence we may expect a very volatile trading of all pound pairs. Technically, EUR/GBP is in the perfect H&S pattern. The pair developed a left and right shoulder, as well as head and the neckline. Then, it broke the neckline, came back to re-test it and got rejected (picture 1). The take profit is around 0.73400.

Picture 1. EUR/GBP daily chart
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CHF/SGD keeps drifting lower

The CHF/SGD again closed at the lows of the month. As it can be seen in the picture on the weekly chart, the pair has created five consecutive lower daily highs. The 200 WMA keeps supporting the pair and represents the last obstacle before another meeting with the supporting trend line is scheduled.
Picture 1. CHFSGD weekly chart

Also, the pair is getting supported by multi-year trend line support, which now comes around 1.36600. The descending trend line also puts additional pressure on the pa…
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