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Cable still ranging

al_dcdemo Veröffentlicht 12 Apr.  in #Trader's blog #GBP/USD #Support #Resistance #Inflation Report #Range Bound #Declining Wedge #D1 Chart
Cable has been range-bound between 1.40 and 1.45 for the most of the past month and a half with price spending most of the time within inner, 1.41 - 1.44, range. If we exclude late February / early March dip, the pair has been carving out a declining wedge since mid January.
Helped by better than expected inflation report the pair surged to 1.4350 but then reversed and is now back under 50 DMA which is running at the midpoint of the aforementioned range. I expect the pair to stay in this mode fo…
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NZD/USD will continue to trade around current levels

al_dcdemo Posted 30 Apr. as Analysis on NZD/USD, Target: 0.7725, Date: 1 von June, 12:00 GMT  in #Technical analysis #Breakout #Bullish #Consolidation #NZD/USD #Kiwi #Rising Wedge #Rbnz #Range Bound #Conditionally Dovish Stance
Monthly chart:
In January, the pair has busted 100 month SMA, 38.2% retracement of 2009 to 2011 uptrend and the low of the 2011 - 2014 trading range around 0.7350. February, March and April were more or less range-bound. Support is now firmly established at 0.7175 with more at 0.70 level and 50.0% retracement (of 2009 to 2011 uptrend) at 0.6868. April candle still signals indecision but is slightly more bullish than previous one in that it closed above pivotal 0.76 level.
Weekly chart:
The pair…
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al_dcdemo 3 May

UPDATE 2: Although there are few data points out from China and Australia that may affect the pair, data from New Zealand (Employment Change q/q and Unemployment Rate, GDT Price Index) and US (ISM Non-Manufacturing PMI, ADP Non-Farm Employment Change and Non-Farm Employment Change) will be the most market moving. 50 day SMA is the first line of defence of the downside, while 0.76 level shall offer initial resistance on upticks.

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al_dcdemo 10 May

UPDATE 3: Since RBNZ changed its stance to conditionally dovish last week, the pair was mostly offered. It was no different this week, although the decline was slower. Weaker than expected employment report added to worries and many are now expecting at least one rate cut by the end of the year. Weekly candle was slightly bearish but the pair still remains in upward sloping three month consolidation.

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al_dcdemo 11 May

UPDATE 4: From New Zealand in the week ahead, we will get RBNZ Financial Stability Report on Tuesday and shortly after that a speech from RBNZ Governor Wheeler. On Thursday, Q1 Retail Sales will give the latest update on the economy. (Core) Retail Sales, PPI, Unemployment Claims and Prelim UoM Consumer Sentiment from US will be watched closely to provide further clues about potential Q2 recovery. There's risk that the pair breaks lower and strong support may not come in until closer to 0.72.

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al_dcdemo 17 May

UPDATE 5: It looked like the week would be a losing one as the pair fell nearly 150 pips from last Friday's closing levels on Monday. However, strong support at 38.2% retracement of the 2009 to 2011 uptrend stalled the decline and the pair bounced from there on Wednesday after the release of RBNZ Financial Stability Report. Pre-weekend pullback was deep but the pair still ended marginally ahead of the Dollar, posting Doji-like candle on the weekly chart.

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al_dcdemo 18 May

UPDATE 6: Next week will see the release of RBNZ Inflation Expectations q/q and GDT Price Index from New Zealand. But FOMC Meeting Minutes and inflation report from the US will be the events that the market will be focused on. We have proven support in 0.7300 - 0.7350 band, while resistance will be provided by 20, 50 and 100 DMA. The pair is still in range-bound mode even though the risk appears to be more to the downside.

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