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Consolidation is on the way

marius24 Posted 26 Feb as Analysis on EUR/GBP, Target: 0.7385, Date: 1 di Aprile, 12:00 GMT  in #Technical analysis #Double Bottom #EUR/GBP #Double Top #Dovish Stance #Positive Momentum
Currency Pair:Eur/Gbp
Indicators: technical patterns and Sma50(red)+ Sma200 (blue)
Current price: 0.7317
Trend: downtrend
Possible trading range:0.72-0.75
Signals: The price is getting closer to an important support (0.7266) which is nothing less than a neckline which belongs to a big double bottom located on the monthly chart. This can be the first sign that this pair may enter in a sideways trading,at least in the short term.
Fundamentals: The recent upside surprise to UK wages may translate i…
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4 Commenti
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marius24 10 Mar

update: Current price - 0.71. This pair continued to slide and right now there are no bullish signals or at least consolidation signals in the sight. Only a rebound in euro may help this pair to recover some of the lost ground. IN normal conditions we have to see a slight recovery attempt in the following days.

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marius24 17 Mar

update: Current price - 0.72. The price has just moved off a multi-years low of 0.7011 to a much higher level of 0.7217. It seems that the euro is going to stabilize in the short term, but in the same time the pound looks to be under heavy attack ( May elections can be the cause).

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marius24 24 Mar

update: Current price - 0.7338. A rising euro has sent this pair even higher until 0.7370. It seems that the UK economy is doing not so fain once the inflation hit the 0% threshold. I remain inclined to see further fall in the pound in the next period.

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marius24 31 Mar

update; Current price - 0.7233. A recent double top has appeared on the 4 hour chart and  smashed any possibilities to see again the 0.7380 level in the very short term.

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Sideways trading ahead

marius24 Posted 25 Feb as Analysis on NZD/USD, Target: 0.7402, Date: 1 di Aprile, 12:00 GMT  in #Technical analysis #Fed #NZD/USD #Head And Shoulders #Dovish Stance #Rbnz #Inflation Expectations
Currency Pair:Nzd/Usd
Indicators: technical patterns and Sma50(red)+ Sma200 (blue)
Current price: 0.7549
Trend: downtrend (daily chart)
Possible trading range:0.72 - 0.77
Signals: The recent recovery has gained so far more than 400 pips having touched the lowest level not seen since 2011. The upward trip is getting closer to an end as long as a very strong resistance hovers at 0.77
Fundamentals: The latest fall in 2 years inflation expectations have slightly increased the near term risk of an RB…
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marius24 10 Mar

update: Current price - 0.7256. THe pair has suffered in the last days due to a breakout occured around 0.753 from a rising wedge situated on the 4 hour chart. The price is very close to the bottom and therefore i anticipate a stabilization or even a recovery attempt in the sight.

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marius24 17 Mar

update: Current price - 0.7333.It seems that NZd/Usd has bottomed out around the 0.71 level due to a less dovish RBNZ. THe statement was slightly positive and for the moment there are no more rate cuts on the horizon. I remain bullish on this pair

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marius24 24 Mar

update: Current price - 0.7636. On the daily chart a massive double bottom has been recently broken to the upside at around 0.7613. THis pair seems in a bullish momentum and therefore my target has no chance to be hit in the following period

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marius24 31 Mar

update: Current price - 0.7484. We have a strong support a little bit lower at 0.7440. Only a decisive break below this level might give a chance for my target to be touched. Let's see tomorrow what will happen.

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Let's try a bullish outlook

marius24 Posted 25 Feb as Analysis on AUD/USD, Target: 0.7947, Date: 1 di Aprile, 12:00 GMT  in #Technical analysis #AUD/USD #Double Bottom #Descending Channel #Commodiities Prices #Dovish Stance
Currency Pair:Aud/Usd
Indicators: technical patterns and Sma50(red)+ Sma200 (blue)
Current price: 0.7890
Trend: downtrend (daily chart)
Possible trading range:0.77 - 0.82
Signals: A bullish signal has recently appeared on the 4 hour chart once the price has made an upside breakout around 0.7876 , a level which represents the neckline of a very clear double bottom pattern.
Fundamentals: The latest rebound in commodities prices might help the aussie to seek higher levels in the following month. Th…
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marius24 10 Mar

update: Current price - 0.7610. Like all currencies the aussie has lost in the face of the dollar and unfortunately the bullish breakout occured at around 0.7880 has proven to be a false one. From here its quite hard to predict a future direction. Better is to wait for a signal.

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marius24 17 Mar

update: Current price - 0.7628. Only a new leg up above the 0.7728 may spark a new recovery attempt. The price lies in a big descending channel and unless this pattern will be broken to the upside at around 0.7750 it's not worth fighting against the trend.

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marius24 24 Mar

update: Current price - 0.7665. THe price managed to escape from that descending channel being helped of course by a super dovish Yellen. THe pair has reached so far 0.7935 and the technical part suggests that a head and shoulders pattern ( inverted) is right now underway with it neckline around 0.79. I remain bullish on this pair..the right shoulder is missing

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Bullish outlook for USD/CAD

marius24 Posted 25 Gen as Analysis on USD/CAD, Target: 1.2767, Date: 2 di Marzo, 12:00 GMT  in #Technical analysis #USD/CAD #Double Bottom #Boc #Oil Prices #Dovish Stance
Currency Pair:Usd/Cad
Indicators: technical patterns and Sma50(red)+ Sma200 (blue)
Current price: 1.2419
Trend: sharp uptrend
Possible trading range:1.22-1.30
Signals: On the monthly chart a massive double bottom with its neckline situated at 1.30 level is taking shape gradually and for the moment nothing can stop the actual rally as long as is backed by the macroeconomic side.
Fundamentals: The BOC has just cut the interest rate from 1% to 0.75% amid the sharp drop in global crude oil prices. E…
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marius24 9 Feb

update: Current price - 1.2458. After having hit 1.28 the pair lost much of the ground on the back of recovery in the oil prices amid positive signs of a possible rebound in the global demand for commodities. Range bound trading in the sight.

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marius24 17 Feb

update: Current price - 1.2431. A rebound in the oil prices from 45 to 62.5 has managed to take off the pressure on the canadian dollar and therefore usd/cad has fallen amid on this story from 1.28 to 1.23. From this point any rises in oil prices are no longer on the table in the near term..so based on this analysis i expect a recovery in usd/cad towards at least 1.26 Only a huge dovish surprise from FED might put heavy downwards pressure on the dollar.

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marius24 23 Feb

update: Current price - 1.2576.Right now the price is challenging a very important resistance line which comes from  the top of 1.28. In case the rate manages to exceed the 1.26 level then the door for 1.28 is opened again.

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marius24 26 Feb

update: Current price 1.2475...the chances are almost zero for this pair

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