GBP/NZD is testing the bottom of its multi month range and seems to be finding buying interest in this region. The 4-hr stochastic also seems to be turning. I am long from 1.9490 with stops below 1.9450 and targets close to...
EUR/CHF is drifting lower to the SNB floor at 1.20. We will be looking to buy any dips to the 1.20-1.2030 region with stops below 1.1990 and targets above 1.22. This trade may take some time to be triggered. Putting out a note so that...
GBP/CHF has found support at the 50% retracement of the recent rise. This zone is also strong horizontal support. From an Elliott wave perspective the pair about to start a Wace C correction or a Wave III rally. Either ways we should see...
We are going into the trading week with a neutral bias and will be looking for reaction of risk pairs to critical levels highlighted in this report to determine the trading bias. Most of the risk pairs are at critical levels. Although the bias still...
AUD/CAD seems to have found selling interest at the 50% retracement of the fall from the 1.06 highs at 1.0260. This region is also strong horizontal support with several previous highs. The stochastic is also crossing over indicating a...
This week we expect strength in risk to continue for one more high and then a reverse for a deeper pullback. We will be looking to go long risk to start the week and then sell a new high. However, it should be noted the risk pairs are testing...
CAD/CHF is testing strong support in the 0.9350-0.940 region. This zone sees a confluence of trend lines and is also horizontal support. We are long this pair from 0.9355 with stops on a close below the indicated trend line or a break...
EUR/AUD has formed a head and shoulder bottom after the retracement from the 1.2820 highs. The pair seems to be stabilizing above the neckline and looks ready for a move higher. We are long this pair from 1.2630 with stops below 1.2600...
The markets seem to be undecided at this point between risk on or off trades. Last week saw range trades in risk assets. AUD which is currently the weakest risk currency found support and bounced higher from the lows formed after the RBA rate cut....
The Elliott Wave structure for S&P 500 indicates that a Wave IV bottom may be close. Traders should look to buy in the 1415-1425 region with stops on a close below 1396 and targets above 1500. The timeframe for the trade is...