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Commodity Currencies seen Strengthening against the Greenback

The Dollar Index was under pressure today, dropping to 95.50. Among the Majors, the commodity currencies were seen gaining the most against the greenback.
Among the Commodity instruments, Silver was seen continuing its bullish momentum. The instrument reached a high of $21.09 before pulling back. Silver was last seen at $20.04 for a gain of 1.6%. Gold has continued to diverge from Silver, and gains seen in the yellow metal were limited to 0.73%.
Oil prices were seen declining, WTI was last seen …
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VictoriaVika 2016年11月16日

Good :)

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The Kiwi Dollar Break

The NZD has been lagging for the most part in the leg of USD weakness we have seen for over the past month, but perhaps today it has finally made that break that will have the bears on the sidelines.
The above chart is a daily of the NZDUSD, and as can be clearly seen, we've taken out some major resistance levels and broken higher.
What makes todays price action look even more bullish, is that the pair is holding the highs so far.
Earlier this month, the pair did break to these levels, only to f…
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OneGoodTrade 2016年04月19日

Thank you for your kind words. I have to congratulate you too for your confidence in USDCAD trade shorting it around 1.45 area while almost everyone was bullish.

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NZDUSD Head and Shoulders pattern in play

Mid American session, we see some USD strength once again in the market. But as quick as it came, it's already settled down quite a bit.
The NZDUSD might be a good pair to watch for further strength. The pair is showing a Head and Shoulders pattern on the 15m chart, if it plays out, it can bring another leg of USD Strength
A break of the neckline at 6553 targets support at 6500
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Beaten up Kiwi takes a strong Rebound

The Kiwi has taken a beating this week as fundamentals have not been in favor of the currency. It started with a bad Dairy number, and then continued with a big miss in Employment change.
Although the Unemployment Rate came in as expected at 6.0%, It was still a drop from previous reading at 5.9, in fact, New Zealand has been posting steady declines in Unemployment since last year this time.
To top that off, the USD has been strong, which has been putting pressure on all the majors. Today, the K…
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Revisiting the Kiwi chart from the last RBNZ Meeting

This week Wednesday, we will once again see a rate cut from the RBNZ.
The rate cut does not necessarily mean a bearish NZD. Below is a 15Min chart from the last meeting in July. The reaction from the meeting has been highlighted in the box.
As you can see, it was an immediate bullish reaction.
The important part of the meeting was not the cut it self, rather it was the statement released at the same time. The reason for this is, the cut was largely expected, and thus already priced in. The state…
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NZDUSD Scalp setup to start the week

The NZDUSD outlook in the larger time cycles is starting to look very constructive. It has managed to break out of its daily downside Channel. In the short term however, there is a clear wave count and setup in the pair for a quick scalp at the week's open.
Here is the 1 min chart Wave count
As per the chart, it has already finished an ABC correction down, and technically there is no need for further downside. However, as the EURUSD and most other pairs are calling from some USD strength, and it…
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NZDUSD - Not a buyer in sight

The NZDUSD has been bearish as most would know. The pair has been on a steady decline after testing the top of the daily channel ahead of the April 29 RBNZ Meeting. The pair has now developed a 4H Channel as well. Today we see the pair breaking the Daily channel and closing a 4H candle below it
Figure 1 - NZDUSD Daily

Figure 2 - NZDUSD 4H
I developed a short in the pair ahead of the April 29 meeting, and still holding it. Next week, we will have another RBNZ meeting. There may be an expectati
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USD Weakness, trend change or minor pull back?

In the last 24 hours, we've seen some of the majors essentially bottoming out and showing a leg of USD weakness. The pairs bottomed out ahead of US event risk, which provided a catalyst for a continuation.
In most situations like this, this would provide an opportune moment to sell the rally and get short with the long term trend.
My wave analysis shows that this may be a fairly important inflection in the larger wave count. Meaning, the pull back may be of a larger degree, and can take some tim…
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The Importance of 8505 in NZDUSD

The NZD has been selling off for the last few weeks after the RBNZ decided to put rate hikes on hold.
We've seen some bulls stepping in and showing interest just above the 8400 level. Last week the price was capped by the 8505 area. The chart below provides some further insight
NZDUSD 4H Chart
Here are some reasons the price is was capped at that area
  1. Seller's coming in at the top of the channel
  2. 76.4% Fib Retracement of the last leg down (8535-8408)
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The Aussie holding it's own against the commodities

For the larger part of the year I have been bullish the AUDUSD. I recall several times when other traders disagreed and felt the pair would continue to move lower. My view still remains the same as it has. I expect one more leg up in the pair.
I've largely ignored the Aussie in the last month. The pair is looking like it is consolidating sideways. After this week's close however, we see that the pair has pulled back nicely against it's previous low. At these levels, I find there is a good risk t…
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