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Cable starts the month with a rally

Start of the new month has seen British pound bulls step up. No particular driver has been cited and the pound rallied despite weaker than expected Manufacturing PMI. That speaks of underlying strength as the pound is bought across the board with GBP/JPY move particularly notable.
Cable closed above 50 DMA and 1.25 level yesterday what makes today's move a logical continuation. November high (1.2675) is the immediate resistance but a stronger one may come in closer to July low and 100 DMA, near …
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Kiwi well supported in the dips

Better than expected data from China overnight has in part been the driver of Kiwi strength today as it reversed all yesterday's losses and some before pulling back in the last couple of hours.
My thinking was that the pair would reverse lower after running stops above 0.69 but it remains well supported in the dips and continuation higher seems more likely at this point.
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Kiwi extends yesterday's gains

Kiwi continued yesterday's strength and broke above last week's range and 0.66 level that capped it on several occasions in the past three weeks. Better data from Australia and China overnight didn't do it any harm.
The pair is effectively back above 50 DMA which is a part of a strong resistance (now support) zone between 0.6590 and 0.6610. Interim target is 0.6750 on the way to 0.70, ahead of which we have 200 DMA (currently ~0.6920) and a declining trendline drawn off of 2014 and 2015 highs (c…
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GBPUSD Showing Buying Strength into yesterday's London Close

The British Pound saw buyers stepping in with a vengeance leaving a strong bullish candle on the 4H chart yesterday going into the London Close.
The chart below shows clearly the strong momentum buying ahead of quite a few risk events this week for the GBP.
The long legged doji which closed at 1.5397, can now offer strong support on dips for buying opportunities.
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AUDNZD is trading with excellent Support/Resistance

AUDNZD pair is expected to continue it's range trading, as it's trading with excellent Support and Resistance. Please find the analysis using charts,
Weekly chart:
- Weekly chart is clearly showing the struggle between the drawn pattern lines
- This pair is trading excellently in a range which is expected to continue further
- The same Resistance level is struggled in 2014 which shows that this level might breakout but not in near future
Daily Chart:
- Daily chart just validates the informatio…
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ijayakumar avatar

As NZ currency is getting stronger, this pair is expected to go bearish and end up in 1.07 range.

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AUD/USD - Further Retracement !

  • Charts: 4 Hours, 1 Day.
  • Elements used: Fibonacci Fan Lines,Fibonacci Retracements,Supports & Resistances.
  • Prepared with : JForex 4.
  • Current Level : 1.0094
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Metal_Mind avatar

UPDATE 1 : The current price level is 0.9361  which is a 160 pips deviation.As can bee seen on my analysis i expect a sharp decline at month ends. At the moment the  pair is hanging and could drop in a bearish sell wave at any moment. Taking into consideration the curent setup ,i say this prediction could be a winner. A late one...but a winner.

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UPDATE 2: The deviation increased to over 217 pips,as the pair push upwards.

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JPY STRENGTH

USDJPY has broken below 102 continuing its slide against JPY on the heels of the BoJ's disappointing lack of additional money-printing. Since Friday USDJPY has fallen over 250 pips along with other major currencies such as EURJPY, GBPYJPY, AUDJPY.
In fact USDJPY had its biggest daily drop in 8 months after stimulus hope premia is removed from the FX carry trade juicer. This dive has driven Nikkei 225 futures down almost 1000 points from Friday's
highs.
The BoJ is expected to add more stimulus by…
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Retracement in USD/JPY while other majors thrive

Gbp and Eur have gained a lot against Usd the last two days - good data for both Eur, and Gbp,
and continuing Great Britain economic upbeat noises have attracted investors and traders alike
Usd/Jpy is seeing a hefty retracement today after failing to break 105 yesterday,
and is now breaking the 103.85 - 104.85 range to the downside
I have been buying a bit on a bounce from 103.5 where a lot buy interest is among traders
but the bounces; in the Yen crosses too, have been shallow,
and it still unc…
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HOANG_MAI_NHI avatar

agree with u

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BETTER EXAMPLES

Dear friends ,
Yesterday i posted about the power of the trend and one of the typical mistakes beginner traders make.
The example was 30 mins.chart for a 24 hr period.
But we shall see some better examples today.The first 4 weeks from 1.0750 to 0.9400 gave 1350 pips !! The next 4 weeks from 0.9400 to 1.0750 gave another 1350 pips !! The next 4 weeks from 1.0750 to 0.9650 gave 1100 pips ! A total of 3800 pips in 3 weeks from JUST 3 TRADES !
You can argue such things happen only once or twice in a…
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GBP/CHF ASCENDING CHANNEL

Charts: 1 Day,1Week.
Indicators
: ;Fibonancci Fan Lines 1D, 1W Time Frame ;Support & Resistance Levels,RSI,VOLUMEEXT
Current Level : 1.4626

GBP/CHF recent trend developments shows a potential ascending channel formation backed by recent higher lows (supports) and higher highs (resistances) as can be observed very well on the chart.Also Relative Strength Index is bullish on 1 Day TF showing that there is room for further bullish move.Volume gives us a hint showing that there is selling press
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Daytrader21 avatar

I have stopped trading gbpchf long time ago, didn't liked this pair at all. I hope it will work for you

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UPDATE 1: GBP/CHF formed a mini range between 1.4460 & 1.4670 and now the current level is 1.4545 at over 300 pips from the target level.

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UPDATE 2: The current level at this pair is 1.4553 and the pair is in a bearish trend that is slowly descending in waves. Deviation over 300 pips from target.

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