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Month-long recovery from 0.7415 to 0.7675 in AUD/USD (almost) proved to be just another pullback in the downtrend, as U.S. dollar buying resumed. A successful break below May's low will put 0.735 into focus. 0.75 - 0.755 should now act as a resistance.
al_dcdemo's Blog
NZD/USD likely to find some support into 0.70
New Zealand dollar has been one of the worst performing currencies in the past two weeks. From a high near 0.74 on Friday 13th it fell to as low as 0.7060 yesterday, that's 340 pips or 4.8%. 0.70 - 0.705 area will likely offer some support. In the event of a retracement, 0.71 - 0.715 is where I'd expect at least some resistance.
USD/CAD to stabilize near 1.25 in October
Technical Tools
Support and resistance (S/R). Price levels, trendlines and Fibonacci retracements. Price action, candlestick and chart patterns. Simple moving averages (SMA). Commitments of traders (COT) indicator, which displays speculative positioning in FX futures market, used as a proxy for speculative positioning in spot FX market.
Weekly Chart
A sharp rally at the start of 2016 and an even more impressive reversal was followed by an upward sloping consolidation. 1.28 - 1.30 has been centra…
Support and resistance (S/R). Price levels, trendlines and Fibonacci retracements. Price action, candlestick and chart patterns. Simple moving averages (SMA). Commitments of traders (COT) indicator, which displays speculative positioning in FX futures market, used as a proxy for speculative positioning in spot FX market.
Weekly Chart
A sharp rally at the start of 2016 and an even more impressive reversal was followed by an upward sloping consolidation. 1.28 - 1.30 has been centra…
USD/CHF to continue to drift lower
Technical Tools
Support and resistance (S/R). Price levels, trendlines and Fibonacci retracements. Price action, candlestick and chart patterns. Simple moving averages (SMA). Commitments of traders (COT) indicator, which displays speculative positioning in FX futures market, used as a proxy for speculative positioning in spot FX market.
Weekly Chart
Swissie broke below the trendline drawn off of 2011, 2014, 2015 and 2016 lows (spikes excluded) in May. The pair broke below 200 week SMA and posted…
Support and resistance (S/R). Price levels, trendlines and Fibonacci retracements. Price action, candlestick and chart patterns. Simple moving averages (SMA). Commitments of traders (COT) indicator, which displays speculative positioning in FX futures market, used as a proxy for speculative positioning in spot FX market.
Weekly Chart
Swissie broke below the trendline drawn off of 2011, 2014, 2015 and 2016 lows (spikes excluded) in May. The pair broke below 200 week SMA and posted…
NZD/USD to remain bid into new year
Monthly chart
In January, the pair busted 100 month SMA and 38.2% retracement of the 2009 to 2011 uptrend. February, March and April were more or less range-bound, but in May the pair broke to the downside strongly in what proved to be continuation of the downtrend. In June, 0.70 and 50.0% retracement (0.6868) were convincingly broken and the pair fell to almost 0.60 by the end of August. It stalled in September and pulled back sharply in October. The pullback is the longest since the downtrend …
In January, the pair busted 100 month SMA and 38.2% retracement of the 2009 to 2011 uptrend. February, March and April were more or less range-bound, but in May the pair broke to the downside strongly in what proved to be continuation of the downtrend. In June, 0.70 and 50.0% retracement (0.6868) were convincingly broken and the pair fell to almost 0.60 by the end of August. It stalled in September and pulled back sharply in October. The pullback is the longest since the downtrend …
AUD/USD to start the year with gains
Monthly chart
As most major pairs, Aussie accelerated its decline in the first month of the year and convincingly broke below 0.80 level and 50.0% retracement of the 2001 to 2011 uptrend. In the following four months it traded mostly between 0.7550 and 0.7950, but tried to break higher in the end of April. The breakout proved to be fake as the pair returned back to the range in May and then broke in the opposite direction in July to resume the downtrend. It is currently holding near 61.8% retrac…
As most major pairs, Aussie accelerated its decline in the first month of the year and convincingly broke below 0.80 level and 50.0% retracement of the 2001 to 2011 uptrend. In the following four months it traded mostly between 0.7550 and 0.7950, but tried to break higher in the end of April. The breakout proved to be fake as the pair returned back to the range in May and then broke in the opposite direction in July to resume the downtrend. It is currently holding near 61.8% retrac…
EUR/USD set for another leg higher
Monthly chart
The pair has been in a downtrend since May 2014. After it broke below the longer-term trendline that supports lows of years 2005, 2010 and 2012, a series of important levels gave way, including 2012, 2010 and 2005 lows. The levels were falling like dominoes before the rout finally stalled near the declining channel-line drawn off 2008 and 2010 lows and the long term trendline that connects 1985 and 2000 lows.
Weekly chart
The low was put in place at 1.0462 after stops below 1.05 we…
The pair has been in a downtrend since May 2014. After it broke below the longer-term trendline that supports lows of years 2005, 2010 and 2012, a series of important levels gave way, including 2012, 2010 and 2005 lows. The levels were falling like dominoes before the rout finally stalled near the declining channel-line drawn off 2008 and 2010 lows and the long term trendline that connects 1985 and 2000 lows.
Weekly chart
The low was put in place at 1.0462 after stops below 1.05 we…
NZD/USD poised to gain in the weeks ahead
Monthly chart
In January, the pair busted 100 month SMA and 38.2% retracement of the 2009 to 2011 uptrend. February, March and April were more or less range-bound, but in May the pair broke to the downside strongly in what proved to be continuation of the downtrend. In June, 0.70 and 50.0% retracement (0.6868) were convincingly broken and the pair fell to almost 0.60 by the end of August. It stalled in September and then pulled back sharply in October.
Weekly chart
From late April to early July…
In January, the pair busted 100 month SMA and 38.2% retracement of the 2009 to 2011 uptrend. February, March and April were more or less range-bound, but in May the pair broke to the downside strongly in what proved to be continuation of the downtrend. In June, 0.70 and 50.0% retracement (0.6868) were convincingly broken and the pair fell to almost 0.60 by the end of August. It stalled in September and then pulled back sharply in October.
Weekly chart
From late April to early July…
AUD/USD looks bullish while still consolidating
Monthly chart
As most major pairs, Aussie accelerated its decline in the first month of the year and convincingly broke below 0.80 level and 50.0% retracement of the 2001 to 2011 uptrend. In the following four months it traded mostly between 0.7550 and 0.7950, but tried to break higher in the end of April. The breakout proved to be fake as the pair returned back to the range in May and then broke in the opposite direction in July to resume the downtrend. It is currently holding near 61.8% retrac…
As most major pairs, Aussie accelerated its decline in the first month of the year and convincingly broke below 0.80 level and 50.0% retracement of the 2001 to 2011 uptrend. In the following four months it traded mostly between 0.7550 and 0.7950, but tried to break higher in the end of April. The breakout proved to be fake as the pair returned back to the range in May and then broke in the opposite direction in July to resume the downtrend. It is currently holding near 61.8% retrac…
EUR/USD may pull back ahead of ECB and FOMC
Monthly chart
The pair has been in downtrend since May 2014. After it broke below the longer-term trendline that supports lows of years 2005, 2010 and 2012, a series of important levels gave way, including 2012, 2010 and 2005 lows. The levels were falling like dominoes before the rout finally stalled near the declining channel-line drawn off 2008 and 2010 lows and the long term trendline that connects 1985 and 2000 lows.
Weekly chart
The low was put in place at 1.0462 after stops below 1.05 wer…
The pair has been in downtrend since May 2014. After it broke below the longer-term trendline that supports lows of years 2005, 2010 and 2012, a series of important levels gave way, including 2012, 2010 and 2005 lows. The levels were falling like dominoes before the rout finally stalled near the declining channel-line drawn off 2008 and 2010 lows and the long term trendline that connects 1985 and 2000 lows.
Weekly chart
The low was put in place at 1.0462 after stops below 1.05 wer…