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SGD/JPY keeps pushing below

This pair is another one that looks like there is more bearishness to come as yen buyers are back in the game. Monthly chart above shows another big red candle as we approach 100 MMA and 61.8% fibbo support.
Weekly chart above shows that we have reacted well from 0.74 support.
We may see 0.70 as bears are in full control. Expect a quick 61.8% test.
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AUD/CAD keep pushing up

The AUDCAD keep pushing higher in September despite closing below 55 MMA and creating a bearish shooting star candle. The pair is in the triangle currently but it looks it wants to go above the parity, as it can be seen on the monthly chart below.
The weekly chart below adds to the theory above. The pair is comfortably above the 100 WMA and it bounced of 38.2% support. It looks like it wants another test of the trend line around 1.0070.
Both BoC and RBA are meeting in September so additional fo…
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AUDCHF still consolidating

Around 500 pips is the trading range of AUDCHF in the last seven months. The pair is below all major moving averages on the monthly chart and struggling to recover substantially post-SNB shock.
At the weekly chart, we have a bullish triangle pattern. The pair is getting supported by the rising trend line and 100 WMA but failing to move above the 0.7570 big resistance.
It will depend a lot on the risk appetite but we may have a breach of the big resistance in the coming weeks/months.
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AUDJPY under severe pressure

AUDJPY is facing another round of pressure to downside following BoJ's disappointing course of action at their latest meeting. The JPY has strengthened against all currencies and you can expect more gains against the AUD also. If you look at the monthly chart below you will see that the pair will test 61.8% again in the coming weeks but with a better chance to break it. Once it breaks it, there is a big gap to next bigger support.
At the weekly chart below, the pair is still within the downside …
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AUDNZD looking to add more gains

This pair is creating a powerful reversal bullish candle on monthly chart. Its still early days but AUD is looking better than NZD currently. The monthly chart shows that the pair has bounced of the 78.6% Fibo support and its looking to recover more in the next weeks.
The weekly chart below gives us similar picture. The pair is recovering and looking very good right now. We may go and test both 100 and 55 WMA if we can get above 1.05.
Technically the pairs looks good but also fundamentally. The …
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AUDSGD recovering

The AUDSGD is another pair that looks keen to recover more after RBA cuts in 2016. As we can see on the monthly chart, the pair has broken above the multi-year trend line and keeps pushing towards big horizontal resistance, former support around 1.09.
The weekly chart shows inverse head and shoulders pattern which is forming but pending break of the neckline. If the pair gets above the neckline and 100 WMA, we may see a lot more gains than anticipated. However, it may also reverse.
I expect to s…
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EURUSD still within the range

The EURUSD has been ranging for a while now. If you look on the monthly, the pair is ranging between two big Fibonacci level with 61.8% offering a great deal of support. On the other side, 1.14 is a big obstacle for the bulls if they want to re-test the 1.16 resistance again.
A consolidation can be seen even better on the weekly chart as the pair is trapped between two trend lines and the break out is very near. In addition, the price is trading between 100 and 55 WMAs and the 100WMA is better r…
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USDJPY breaking down

USDJPY is a major topic among traders currently hottest pair on the market. Another failure of BoJ to weaken the yen will likely lead to this pair completely breaking down to mid 90 handle. The monthly chart shows us the importance of 50% Fibbo support. If we break it, look for a test of 100 MMA and 61.8% very soon.
The daily chart shows that we are inside consolidation triangle pattern with a very dangerous period where support can be broken aggressively.
This is one of the most transparent cha…
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CHFJPY facing more downside pressure

This pair has been under pressure for more than a year now. If you look at weekly chart below, you will see that the pair has fallen below support line and now is attacking 127.2% extension of a big Fibbo. That support lies around 100.80.
The daily chart shows more bearishness is ready to come in for this pair. CHFJPY has broken down from the triangle and it looks like it wants more downside. Furthermore, its below all three major moving averages.
Add to this that yen will likely strengthen agai…
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CHFSGD keeps consolidating

This pair is still consolidating and not doing too much which is not surprising since both currencies are risk connected. Weekly chart below shows that we are currently consolidating and trading below 100 and 200 WMA. You see a lot of very narrow candle bodies which shows a lot of indecision from the investors.
The daily chart offers a similar picture and more choppiness and consolidation. Currently the pair is in a moderate uptrend and we may test again the trend line if we manage to stay above…
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CADCHF still in moderate decline

This pair has been in moderate decline for weeks now. The monthly chart below shows that we have four out of five red bars in the last five months. We may expect this trend to continue to at least 61.8% of the Fibbo retracement.
If you look at weekly chart below, we still have a case for the double bottom. The market reacted strongly at 0.6800 support level and if break the neckline i.e. 0.77, then we can expect bigger recovery above 0.80. Until then, we are still in the downtrend.
Furthermore w…
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Its all about 0.97

If there is a pair that you can say it has a line in the sand then its this pair. The 0.9700 handle has kept the pair at bay for more than two years. We have a case for triple or even a quadruple top.
This month we posted a multi year high above 0.97300 but we were quickly rejected. As you can see below on the weekly chart we failed to break sustainable and created a shooting star. We either have another probably final push and get close above 0.9750 or we may fail big at this level.
As with all…
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NZDCHF inviting downside pressure

This pair closed this month with a red bar, in line with other NZD/XXX pairs. We created doji candlestick which usually signals undecided investors. As you see on a monthly chart, 0.7100 - 0.7150 is a huge resistance area and combination of 61.8% Fibbo, horizontal support/resistance and double MMA - 100 and 55.
Weekly chart shows more resistance as we also have 200 WMA which we touched and got rejected. We may retrace now to 100 WMA to find more support and buyers.
I expect to see a retrace befo…
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NZDUSD under pressure

For the first time in a couple of months we saw bears prevail in this pair. On a monthly chart below we created a shooting star with an attempt to close above 50% retracement for the first time since start of 2015 before we got heavily rejected.
In, addition 100 MMA provided more resistance. Weekly charts shows similar set up as we have a consolidation after another leg higher.
I expect at least one more rate cut by RBNZ and rate hike by FED in December. That will push the price back below 0.70…
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