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EURo sold after briefly trading above 1.10

al_dcdemo Posted 8 May  in #Trader's blog #Support #Resistance #EUR/USD #D1 Chart #French Election #German State Election #Sell The Fact
Emmanuel Macron is the next French president. His winning by a wider than expected margin and also Merkel's success at state election in Germany led to a small gap higher at the open. Higher prices were not sustained and sell-the-fact trade ensued.
Pulling back about 70 pips from the overnight high, EUR/USD is now firmly back below 1.10. 1.095 is the immediate support, followed by 1.09 and stronger one between 1.083 and 1.085. 1.10 should continue to act as a resistance until convincingly broken…
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Yen back above 110

al_dcdemo Posted 28 Apr.  in #Trader's blog #Support #Resistance #USD/JPY #Boj Meeting #D1 Chart #French Election
The BOJ kept policy unchanged at this week's meeting. They bumped up growth forecasts but slightly downgraded inflation. Japanese data overnight confirmed continued weakness in household spending while unemployment rate fell to the lowest on record. U.S. Advance GDP is the event to watch later today.
USD/JPY gapped up at the start of the week on better risk sentiment after the first round of the French election. Buyers stepped in before the gap was filled and sent the pair up to 50 DMA. 111.80 -…
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EURo gaps higher on French election results

al_dcdemo Updated 24 Apr.  in #Trader's blog #EUR/JPY #EUR/USD #Gap #Pullback #Polls #D1 Chart #French Election
Emmanuel Macron (23.9%) and Marine Le Pen (21.4%) are the winners of the first round of the French presidental election. Pollsters did a good job this time around with the results coming in largely as expected. Euro gapped higher overnight as Macron victory remains the most likely scenario.
The pair traded above 1.0930 in pre-market and opened just above 1.09, that's about 180 pips from Friday closing levels. EUR/JPY gap was even more impressive, close to 380 pips. Latest polls suggest Macron's …
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Swissie balances near parity level

al_dcdemo Posted 21 Apr.  in #Trader's blog #Support #Resistance #EUR/CHF #USD/CHF #Safe Haven Flows #D1 Chart #French Election
Swissie has not been in focus lately, even though its moves were comparable to that of the euro. EUR/CHF has remained well offered ahead of the French election, suggesting some safe haven flows at work. That will likely intensify if Le Pen makes it to the second round.
USD/CHF has been coiling around parity level for months now as (geo)political concerns balance out positive carry. 200 DMA offers the initial support with stronger one between 0.98 and 0.985. 1.00 is the immediate resistance and t…
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Kiwi snaps back

al_dcdemo Posted 14 Apr.  in #Trader's blog #Support #Resistance #NZD/USD #Rbnz #D1 Chart #Trump #Interest Rate Differentials #French Election
Kiwi traders reacted on Trump talking down the U.S. dollar on Tuesday evening and bought/covered the pair up to 0.7015. Overall, the prospect of lower interest rate differentials still weighs and there was no hurry to lift it much higher.
0.70 - 0.7025 is the initial resistance and, if buying continues, the range could be extended to somewhere between 0.7090 and 0.7125. It may perhaps rally further after French election, if U.S. dollar weakness continues and RBNZ doesn't turn dovish.
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