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Aussie may not leave 0.75 just yet

al_dcdemo Posted 27 June  in #Trader's blog #AUD/USD #Triangle #Australian Data #Chinese Data #D1 Chart #Volatility Compression #Breakout Trade
It's a quiet week with regard to Australian economic data. Chinese Manufacturing PMI and Non-Manufacturing PMI on Friday will probably confirm lacklustre activity in the world's second largest economy. That may keep upticks in the pair contained.
The pair has been carving out a triangle-like pattern for more than two years. 0.75 has served as a mid-point and an axis around which volatility is compressing. Whatever direction the pattern will resolve to, it could make for a nice breakout trade in …
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Markets in holiday mode

al_dcdemo Posted 17 Apr.  in #Trader's blog #NZD/USD #Risk Sentiment #Chinese Data #D1 Chart #Financial Center #Easter Monday #Surprise Move
Better than expected Chinese data, that was released overnight, hasn't had a great impact but it did contribute to a slightly better risk sentiment. Australian and New Zealand dollars remain in near-term uptrend while yen put in at least a temporary top.
A quiet European session is the most likely scenario with main financial centers closed for Easter Monday. Some more activity is possible in N.A. session but many participants will prefer not to involve until tomorrow. That does not rule out a s…
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Kiwi settles between 50 and 100 DMA

al_dcdemo Updated 16 May  in #Trader's blog #Support #Resistance #NZD/USD #Chinese Data #D1 Chart #Opening Gap
Following weak Chinese data over the weekend, both Aussie and Kiwi opened with a gap lower. The former rose from the open while the latter, whose gap was smaller, traded lower in the early Asian session before rising too.
This is the second time that Kiwi bounced from the strong support in 0.6700 - 0.6750 band, which includes February highs and 100 DMA. The topside has been capped by 50 DMA recently. Whichever DMA will give way first will likely determine the direction of the next leg.
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