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Loonie breaks to new highs after BOC rate cut

al_dcdemo Posted 16 July  in #Trader's blog #USD/CAD #Boc #Rate Cut #Daily Resistance 1 #Weekly Resistance 2 #Weekly Resistance 3 #H1 Chart
BOC cut Overnight Rate to 0.50% from 0.75%. That also put Bank Rate to 0.75% from 1.00% and Deposit Rate to 0.25% from 0.5%. The move was not entirely unexpected but, in combination with breaking strong six-month resistance and trading to new highs, it was enough for the pair to jump 120 pips on the release and 180 pips on the day.
The pullback was minimal so far. Post-release pullback was contained by Weekly Resistance 2 (1.2882). After that, the pair made new high for the day (1.2958) and has …
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EURo surges ahead of the ECB meeting

al_dcdemo Posted 3 June  in #Trader's blog #Euro #EUR/USD #100 Dma #Weekly Resistance 2 #38 2 Retracement #61 8 Retracement #Daily Pivot Point #Monthly Pivot Point
Euro jumped 150 pips yesterday, after details of today's Draghi speech were released to the hedge fund community tick-up in CPI and in anticipation of a deal between Greece and its creditors.
The pair stalled ahead of 1.12 and 61.8% Retracement of May 15th to May 27th decline (1.1219). On the downside, support was found just above the broken Weekly Resistance 2 (1.1130), but the stronger may come in between 1.1075 and 1.1100 (100 DMA, Daily Pivot Point, 38.2% Retracement of yesterday's rally, Mo…
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Aussie through April's high

al_dcdemo Updated 13 May  in #Trader's blog #AUD/USD #Aussie #Retail Sales #Weekly Resistance 2 #Monthly Resistance 1 #200 Hma
The Dollar fell across the board today after weaker than expected retail sales report. Revision were better though, but that's not what the market focused on.
Aussie has been bid since the beginning of the European session, continuing its broader uptrend. It broke above 0.8050 level and the April high at 0.0875 shortly after the release of the above-mentioned report.
A cluster of resistance from 0.8130 - 0.8160 (200 HMA, Monthly Resistance 1, Weekly Resistance 2) shall contain it for now, but th…
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Cable breaks 200 DMA

al_dcdemo Posted 12 May  in #Trader's blog #GBP/USD #Cable #Industrial Production #200 Dma #Weekly Resistance 2 #Manufacturing Production #Monthly Resistance 1
Cable rallied again after surprise Industrial and Manufacturing Production data:
Industrial Production (MoM): 0.5% vs. 0.1% expected, 0.1% previous
Industrial Production (YoY): 0.7% vs. 0.2% expected, 0.1% previous
Manufacturing Production (MoM): 0.4% vs. 0.3% expected, 0.5% previous
Manufacturing Production (YoY): 1.1% vs. 1.0% expected, 1.2% previous
It has broken above 200 DMA in the process and stalled ahead of Monthly Resistance 1 just above 1.57. If it can hold above the 200 DMA, Weekly Re…
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USD weakness continues

al_dcdemo Posted 28 Apr.  in #Trader's blog #GBP/USD #Gdp #Cable #Daily Resistance 2 #Richmond Manufacturing Index #Cb Consumer Confidence #Weekly Resistance 2
Weaker than expected UK GDP, that was release this morning, proved to be just another dip buying opportunity in Cable. Decline to 1.5175 was short-lived and the pair was back to pre-release levels in less than one hour.
The pair made new high and flirted with 1.53 before US open. It is now breaking above the big level, after stream of bleak data from the States continues with Richmond Manufacturing Index (-3 vs. -2 expected) and CB Consumer Confidence (95.2 vs. 102.6 expected).
There's some imme…
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