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EUR/TRY Stalling Around Key Area After Large Gains

The EUR/TRY is stalling around a key resistance area. We're currently quoted at 4.2068, with the previous swing high back in January at 4.1764. This means that the pair hasn't made more then 1% gain all year.
If this wasn't weak enough, on the lower timeframe chart below we're seeing a ranging market. Because of both these charts I'm betting on the EUR/TRY staying range-bound in October.
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Pound Targeting 1.3500?

The Pound could be targeting the 1.3500 round level in June. Exhibit A is the chart below. Notice how after a strong +900 pips rally from the lows the pair is now consolidating. The fact that we're currently quoted less then 200 pips below the highs signals to me that this is just a healthy retracement on the way to more gains. The UK election is coming up soon and that should act as a price catalyst as well.
But what could be our target? The nearest resistance level can be found at the 1.3448 s…
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Cable to Rally Post-Brexit

I expect Cable to rally in the aftermath of the start of Brexit negotiations. First reason for this is the fact that the worst is now behind the UK. Markets have pummelled the Pound in the ground already discounted a lot of negative scenarios. Thus a positive surprise could led to large GBP rally.
The second reason is our first chart above. Notice the three bottoms pattern. Some may see an irregular Head and Shoulders formation. In any case it looks like the bears have checked out and the bulls…
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Slow Recovery Underway in NZD/USD

A slow recovery is underway in the Kiwi. As we can see from our first chart below, prices bottomed out in August of last year and since then we’ve been going up slowly.
Recently that trend hit a small bump in road as general risk aversion across all markets led to NZD selling. The Kiwi gets sold because it’s a risk-on currency, people hold it for carry and unwind these trades during bad times.
Nonetheless as we can see on the second daily chart below, the trend seems to be back up! Prices only…
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Aussie Back on the Offensive

The Australian Dollar is back on the offensive. This month we got yet another test of the important resistance in the 0.7700 – 0.7800 area. Prices peaked at 0.7749 this time around before pulling back.
However the move lower wasn’t Aussie specific but happened on general risk aversion across all markets. This gives me reason to think that the next time prices rally toward the resistance we could get a breakout above.
Our final chart above shows this resistance area. You can see that it’s been …
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New Zealand Dollar to Rally Further

The New Zealand Dollar is having a good year. The currency is up by 259 pips against the U.S. Dollar since January 1st. On our first chart below we see that after bottoming out in the middle of last year, it’s been a slow but steady grind higher.
This is confirmed further by looking at lower timeframe chart. Below we see the same momentum higher on the 4 Hour chart. I expect this to continue into year-end. The post-election USD rally seems to be exhausting itself and this should benefit my long …
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TInna 1 Dic

very well!

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Aussie to Make a Break for 0.8000

It’s been a good year for the Australian Dollar. The pair is up by 200 pips this year. This may not look like much but keep in mind that these gains were made in the context of general Dollar strength. Our first chart bellows shows the tentative but clear uptrend in 2016.
On our next chart we can see the same momentum higher but on a lower timeframe chart. While other pairs continue to suffer after Trump’s election win, the AUD/USD is heading higher. With both the long-term trend and the short-…
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TInna 1 Dic

good

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EUR/GBP Stalls at Resistance Levels

The long-term trend in the EUR/GBP is undoubtedly up, prompted by the weaker Pound and exacerbated by Brexit. But the rally is hitting against some serious road-block in the face of several multi-year resistance levels. First we have the 2011 high at 0.9086. This is followed by the 2009 high at 0.9407 and finally we have the 2008 high at 0.9804.
During the past few weeks the pair topped out just below this second one of the resistance levels above and is now heading down. Take a look at the shor…
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Seven-Year Uptrend to Continue

The seven-year uptrend in the SP500 is set to continue. Look at the monthly chart below. This US Stock Index is now in one of the longest bull runs in history. Of course eventually the party will end. But until it does, it would be unwise to bet on red.
On the second chart below we can see a shorter-term view of the market. Notice the classic V-shaped pattern below. This is a bullish pattern. It signals that the bears have been trapped by the sudden price rise. More gains should follow from her…
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EUR/GBP Nearing Resistance Cluster

After a long rally that saw the EUR/GBP advance in 8 out of the last 10 months, the pair may finally hit a roadblock. We are nearing a cluster of resistance levels. They start with 0.8724, last month's high, continue with 0.8768 (August 2013 high) and end with 0.8814, a four-year high for this currency pair.
But there are signs that the bull run is slowing down. On the daily chart below notice the constant decline in the Average Daily Range. This is a proxy for volatility. Furthermore since reac…
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