Блог Jignesh

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EURUSD - Diverging Policies remain

The big slide in EURUSD that came from the initial move in Summer of 2014 was largely due to the fact that the Euro zone and the United States were diverging on monetary policy.
Over the larger part of this year however, we've seen the market price in most of the Euro zone's efforts, as well as the United States, which started seeing more skeptics as we approached year end, over a rate hike.
This past week, we have once again had confirmation, that the two economies are in fact continuing down t…
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Yellen's Welcome Speech - No "Heads Up"

The USD Bulls may have been anticipating today, as a catalyst to buy USD.
However, the fundamentals gave them no reason to do so. First up was Unemployment Claims, which came in at a slight miss (276 vs 270) & then Yellen's welcome speech
There may have been some anticipation that Yellen would provide further confirmation that there would be a December rate hike, or acknowledge that the data has been coming in well. The lack of such may have been the catalyst for a spike down in the US Dollar as
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RBA Statement Overview and Interpretation

In Yesterday's blog post I wrote about a technical short setup ahead of the RBA statement. The result turned out to be bullish.
I have taken some time to highlight some key points from my interpretation of the statement. It is included in the image below.
The main impression left from the statement was quite positive. The RBA addressed inflation, as expected as it is a global concern, however they have realistic expectations in regards to the low levels of inflation and expect that may remain so…
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Up Next - NZD Rate Decision

On the docket today is a rate decision from the RBNZ. According to the NZ Herald, Top economist believe rates will be unchanged (by 62% of those paneled) while 32% say that a cut may be seen.
One of the key deciding factors which supports a case for a cut, is the current low inflation rate. Unlike the Fed, the RBNZ does not view the underlining reasoning as transitory. A word which has resurfaced once again in today's FED statement.
Another key factor, is the Kiwi appreciating as of late. With p…
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Jignesh 30 Апр.

Although the RBNZ did not surprise the market with a rate cut, the statement indicated a strong view of cutting rates in the future which has caused a sell off in the Kiwi across the board.  The Currency fell between 100 - 300 pips in various pairs.

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EURGBP Continues down after 3 wave ABC Correction

Overview
As the monetary policies of the ECB and BOE continue to diverge with GBP facing an imminent rate hike, and the EUR having just experience a rate cut, the outlook on this pair is bearish.
In the past month, we have seen a 3 wave correction occur, after a big move to the downside. The pair has broken to new lows and it can be assumed a new leg in the downtrend is in progress
Levels
0.7874 - Daily breakout point (low of last major leg down)
0.7757 - Weekly Support level
0.7480/0.7500
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Jignesh 9 Окт.

EURGBP is bullish for the week after bouncing off the weekly support level.  The 50% retracement of the last leg down comes at .7916.  Will be watching that level for bears to continue the downward momentum.

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Jignesh 13 Окт.

The focus for this upcoming week is the price to be contained by the 50% at .7916 and a close below support/resistance level of .7875

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Jignesh 24 Окт.

The pair got declined from the .8040 level and looking like it is resuming it's down trend.  Currently .7875 is offering some support showing a tweezer bottom on the daily chart.

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Jignesh 31 Окт.

After consolidating in the 7875 for almost a week, the pair has finally made a concise break.  With EUR CPI data later in the session, the pair still stand a good possibility of reaching targets.

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Jignesh 3 Нояб.

The pair is moving rapidly to the downside after breaking 7875.  The momentum is good, indicating a good possibility of hitting targets by specified time.  The current price is 0.7814 and is about 57 pips away with 10 hours to go.  There is both EUR & GBP data later today..  GBP Manufacturing PMI should move this pair towards the targets if the data supports a bullish GBP

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RBA - Hawkish or Dovish?

The RBA has up to recently deployed tactics such as verbal intervention to bring down to the AUD exchange rate, Their goal is to bring down the rate in order to stimulate their economy.
Recently however, the RBA posted an inflation rate of 3%, The highest it has been in 2 and a half years. At this point, their objectives are diverging and they will have to make a decision which way to focus. If they focus on inflation, they would be hinting at raising rates, which of course is bullish for the cu…
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Likerty avatar
Likerty 5 Авг.

None of the mentioned above:)))))))

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Jignesh 5 Авг.

What's your take?

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Yellen does it again! 1.3800 Targets looking even better

Yellen has once again managed to dodge the subject of interest rates.
The market largely expected her to talk about raising rates, either by providing a guideline, or at the very least sound a bit more hawkish as the important data releases (inflation, NFP, unemployment) have all showed improvement.
In fact, targets that were set out earlier this year have all been met, and some even exceeded. The irony is, that she cited these exact data releases as the reason why it would be too early to look …
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Bimlesh avatar
Bimlesh 22 Июль

well presented.. and best of luck..!

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