chigozieのブログ

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GBP/USD Channel


Looking at the chart above, you will notice that price tried to breakout the downward descending channel but after three successive failed trial, I believe it is targeting the lower channel. I cannot rule out a possible break out of the descending channel which will invalidate the trade.
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GBP/CAD Channel Formation

I believe GBP/CAD will touch the downward trendline after breaking the support point at 1.62900 but I cannot rule out the possible break of my descending trendline at 1.6370
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USD MELT DOWN POST FOMC

I still regard any EUR/USD upside above 1.0750 as unsustainable, in particular as there is limited room of further adjusting monetary policy expectations. I expect EUR/USD to target new yearly lows in the coming few weeks.
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FATE OF THE USD HINGES ON FOMC AND FED CHAIR

The main market mover today will be the FOMC press conference , the words of the Fed Chair's Yellen will determine the direction
of the USD in the coming days.As we all know the US Treasury do not engage in currency wars so do not expect to hear that from Yellen conference today.From my view the USD medium term view is bearish.
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GBP/JPY ANALYSIS


The minutes of the BoJ meetings showed that tthey are keeping there finger crossed for now. I will continue to buy YEN. Waiting for correction to short GBP/JPY at 181.00
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WEEK AHEAD : FOMC,BOJ , RBA


Market movers to watch out this week.

AUD RBA MINUTES : I expect AUD to weaken over the short term and I will remain short believing that the RBA minutes
will strike a more dovish tone and market will be looking out for a hint in rate cut over the coming months.
JPY: BoJ has recently seen a stabilizing inflation target, which means that BoJ action might be limited.
USD FOMC meetings on wednesday : The tone of yellens press conference will be the important determinant of the market
reaction to t…
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USD/CAD TARGET THE NEXT RESISTANCE POINT ON DISMAL EMPLOYMENT


Economics forecast a 5k contraction in canada employment report and jobless rate is said to increase to 6.7% from 6.6%

What to expect

If the release comes out as expected then the canadian dollar will weaken against it pairs due to the fact that the report
might increase the speculation of further rate cut by BoC.

Pair to trade
USD/CAD

Medium term trend
BULLISH
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NZD/USD retains the bearish pressure ahead RBNZ rate decision

Most economics believe that the reserve bank of New Zealand will keep the cash rate at 3.5% in today's release at 20:00 GMT
If the central bank focus on the forward guidance for monetary easing which i expect, NZD will continue its bearish trend
against the USD.
[b] I will remain short the NZD/USD
[/b]
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AUD/CAD midday preview


Open: 0.9709
[b]High
0.9717
Low 0.9627
Midterm trend bearish
[/b]The pair was able to break the downward trend-line. So i believe it will target the next support point.
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FOREX WEEKLY REVIEW 9TH MARCH TO 13TH MARCH


USD : NFP REALEASE. BULLISH
PAIR: AUD/USD SHORT TERM TREND: BEARISH

I believe that the USD will continue its bullish trend over the short term as the Non-farm Payroll data release on Friday showed a gain of 295k against the 240k economics forecast and the unemployment rate dropped to 5.5% from 5.7%. Although there was a disappoint in the wage growth but that will not have effect on the bullish USD.
EUR: DRAGHI SHOW. BEARISH
PAIR: EUR/CHF SHORT TERM TREND : BEARISH

The Eur-ozone implementation …
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