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EURNZD short trade follow up

For those of you who participated in my webinar yesterday would have seen me take a live short trade on the EURNZD as all the elements of the trade lined up nicely. For those who are interested in an update and summary of the trade, I will write a conclusive essay here.
Yesterday, price has rallied during the Asian trading session and has pulled itself up to the significant activity zone of 1.5425. This level had acted as a resistance point on the 21 first of January then as price broke through …
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Lets talk about gold

Gold is great! It's withstood the test of time, it's pretty, it's undervalued and funnily enough it's probably going to fall even further in price.
For anyone who knows me, knows that I'm very bullish on gold and believe that there will eventually come a time when the purchasing power of gold outstrips any fiat currency.
However if we take a look at the charts we'll see a different story. From November last year to January we saw gold make a 15% rally. The consensus from gold buffs was that gold…
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EURUSD entry signal follow up - Dec 18

I previously made a blog post on December 18 showing a possible trade entry set up on the EURUSD after a significant bearish engulfing candle formation formed after Janet Yellen dismissed rumours of a rate hike. Link to the previous post can be found here http://www.dukascopy.com/fxcomm/blog/?action=post-show&post_id=36356.
Entry set up looked liked this
Following up on the original set up we can see that price did indeed have quite a momentous fall after the bullish engulfing formation falling …
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18 Dec 14 EURUSD forming possible trade entry signal

The EURUSD has dropped 167 points by end of trade yesterday after Janet Yellen of the US Federal Reserve dismissed any rumours of an immediate rate hike.
We can see on the charts the visual effect of this announcement with a bullish engulfing candle stick pattern forming on the EURUSD which could lead to further falls until we reach the 2012 low of 1.2000 which would act as the next significant level of support.
If we were to enter a trade once price reaches the low of yesterday's trade with a s…
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GBPAUD at resistance level

GBPAUD currently at resistance level that acted as a significant swing point from January this year. We can expect a possible pullback from this level and are forecasting an approximate 1.8960 level by February 2.
Added to this is the confluence of the 1.618 fibonacci extension of the September high and November low.
Happy trading
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USDJPY showing beginning signs of retracement

USDJPY showing beginning signs of retracement
The USDJPY has made consistent gains from Jan 2012 and is starting to show signs of an overdue retracement.
The pair is showing a bearish engulfing candle set-up at the 2006 resistance level which could be signalling a short term end to the bull movement for the time being. If a pull back is to occur the next significant level of support which could be a liable point for buyers to step back in as at the 115 support zone from 2006.
Currently forecasti…
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USDCAD approaching 2009 resistance level

USDCAD approaching 2009 resistance level
The USDCAD has been in a bullish trading channel and made significant gins from its 2012 low. With the CAD showing signs of weakness all-round we can expect to see further gains on the USDCAD but not before beating the 1.1748 resistance zone from 2009.
The USDCAD is also approaching the top of its trading channel which in congruence with the 2009 resistance level will possibly provide significant resistance.
There was a break and retest of minor support o…
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EURCAD to continue bearish trend

The EURCAD is displaying a bearish jump candle at the beginning of the trade week of 15 Dec 14 at a significant resistance zone signalling a continuation of the bear trend from March 2014. The 1.44 resistance level has showed significant resistance multiple times from 2010.
Because of this we can expect a high probability of a move back to the bottom of the trading range of 1.4000 before experiencing the next significant level of resistance. A break through this level exposes the 61.8% retraceme…
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