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Cable starts the month with a rally

al_dcdemo Posted 1 Dec.  in #Trader's blog #GBP/USD #Support #Resistance #Rally #Strength #Manufacturing Pmi #D1 Chart
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

al_dcdemo Posted 15 Apr.  in #Trader's blog #NZD/USD #Strength #Stop Run #D1 Chart #China Data #Continuation Higher
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

al_dcdemo Updated 1 Dec.  in #Trader's blog #Support #Resistance #Breakout #NZD/USD #Strength #H1 Chart
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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