NZDJPY: Bullish Sequence and Trading Strategy
In this blog, we will look at the strong rally in NZDJPY which took place this year, talk about the sequence, what it means for the pair and also what our trading strategy is going forward. We will look at...
Crude Oil’s Triangle
Brent crude is back below $110/bbl, losing 2% since the start of the day on Monday. At the beginning of May, oil largely remained within the trends of previous months. There are still accumulating risks that oil will break down...
Technical Analysis and Review
DXY: On the H4, with price expected to reverse off the stochastics indicator, we have a bearish bias that price will drop from our 1st resistance in line with the swing high resistance to our 1st support where the 61.8%...
NFP Headline Beats Expectations; Confirms Fed’s View that Labor Markets are Tight
US Non-Farm Payrolls showed that economy added 428,000 jobs in April, matching March’s revised print and beating average estimates of 391,000. In addition, the report showed that the Unemployment rate was unchanged at 3.6% vs expectations of a drop to...
GBPAUD’s Bounce Near 4¼-Year Low Level Struggles
GBPAUD’s recent bullish impetus from the early April 4¼-year low region has run out of steam just beneath the mid-Bollinger band at 1.7468. The longer-term 100- and 200-period simple moving averages (SMAs) are suggesting that the negative bearing has softened,...
Oil Price Moved into a Positive Zone Above $105
Crude oil price started a fresh increase after it formed a base above the $100 level against the US Dollar. The price broke the $105 resistance zone to move into a positive zone. The price gained pace for a move...
EURJPY Remains Above 20-Day SMA With Weak Momentum
EURJPY has gained little this week, and it managed to hold above the 20-day simple moving average (SMA) and re-enter the 137.00 area, with the RSI feeding some prospects for a possible positive short-term move, as it is holding above the 50 level. On...
Gold’s Bearish Bias Calmed by Support Boundary
Gold is tiptoeing across the flattened red Tenkan-sen line at 1,864 after the more than two-week decline from the 2,000 price vicinity bounced off a support zone that stretches back to mid-February. The descending slopes of the simple moving averages...
USDJPY Indecisive ahead of FOMC Policy Decision
USDJPY has barely been moving so far this week ahead of the FOMC policy announcement, facing strong rejection around the 130.20 barrier. Although the pair remains close to its recent 20-year top of 131.24, the possibility for a downside correction...
AUD/NZD Technical Breakout on RBA Rate Hike
The RBA’s surprise hike caught AUD/NZD traders with their guard down. As a result, the pair traded to its highest level since August 2018. The Reserve Bank of Australia (RBA) surprised markets with its first interest rate of the new...