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GBPNZD In Between
[2019-04-11   07:04 GMT]

GBPNZD has been consolidating lately, forming an amazing pattern.

Pattern I: Bullish Flag (in blue)

Pattern II: Rectangle (in red)

Both formations need a close to determine the next technical wave. Yesterday, the market closed above the downsloping blue trendline suggesting a rally is ahead targeting 1.9520+. Close below 1.9240 negates. As for the red pattern, a close is yet to be determined.

Sterling Crashing the Ups & the Downs,
[2019-04-05   07:29 GMT]

The Ideal of Conflicting Brexit Reports have transformed sterling charts into a geometrical shape namely rectangle. In order to emphasize the next step, some algebra formulas should be taken to assess the length of the consolidation and to target the other side of the rectangle or treat today’s close outside rectangle border as a continuation pattern.

Keep Brexiting as Consolidation needs no algos neither its immature reflections where banks, finally admitted, that they are exiting sterling trades a cause d’algos misinformation and maltreatment of Brexit & its House of Commons stream of commentary.

Eying stops below 1.2800

Quarter 01, 2019
[2019-04-01   09:27 GMT]

As of Indecision about Brexit, quarter first of the year has been one of the most intricate & obscure seasons. Until the road map of the Brexit is clarified, the tensed consolidation in the market will persist forming an out of sight squeeze for the market to eccentrically smother.

Usually, in the chart pattern, when a candle is graphed as Indecision, the market completes an important wave afterwards. Fundamentally, we are falling in the same pattern: as Brexit Indecision has been formulated, you should be ready for the next rout in the market.

As nothing has happened yet to the EURUSD graph, printed below, where no close below 1.1100 or above 1.1700 is triggered, then all those reports that are launched are nothing more than a nuisance. Complete relaxation till the chart triggers either.

Draghi To Explain,
[2019-03-07   09:59 GMT]

How after years of negative rates and QE, Europe is again on the verge of a crisis as TLTRO takes place only in case of serious economic shock. Another TLTRO could send risk assets sliding in what would be a nightmare outcome for Draghi.

Without new funds, the risk is that banks will curtail access to credit and worsen the slowdown.

 

AS OF TODAY, AFTER ECB, IF RISK ASSETS PLUMMET OR NOT, AND IF EUROPE IS ON THE VERGE OF A CRISIS AGAIN, YOU SHOULD HAVE A LONG TERM TARGET GRAPHED WITHIN A NON-STOP PROLONGED WAVE FOR THE EURO: EITHER EURUSD @ 1.2000 OR @ 1.0650.

 

*floating rally sellable

Silver Rally Isn’t Seriously Bought,
[2019-02-28   03:44 GMT]

Silver is trading at its strongest level since it double-bottomed at 14.00 between Sep & Oct of year 2018. The current level is testing the 3-year downsloping trendline at 16.00.

The daily time frame shows the descending triangle pattern which acts mostly for the bears. So far, we have no serious closings above the resistance, the 3-year trendline, and the bears are controlling the market as long as no weekly close above 16.35 is triggered.

Shifting the graph towards the short term of 4 hr, worth to note the triple daily top or the bi-monthly top between Jan & Feb of 2019, marketing below 16.35. Add, that this week a 4hr candlestick bearish reversal pattern was printed in the form of shooting star.

The negative aspect of silver is being helped by the fundamental themes. The geopolitical tensions aren’t narrating a blow-out as the US administration and China relations are strengthened progressively, and the Indian Pakistan conflicting days are limited in numbers.

EURCAD Wedge,
[2019-02-26   06:16 GMT]

When EURCAD market price was testing the downsloping trendline at 1.4900, U.S. President jumped out of a sudden and shot a scary tweet, warning OPEC of market fragility, where WTI reacted badly, downed more than 4% so far, and the euro took a revenge reciprocal stance versus the loonie jumping almost one figure from base-test, triggering a test at the psychological resistance at 1.5000.

Technically, the chart shows a long downsloping trendline which has been tested several times to circulate how important it is. Another steep downsloping trendline of year 2018 has been pierced yesterday. Both down slopes converge onto bullish wedge should attract 1.5200’s eye as long as yesterday’s low survives double-day closing

AUDUSD Reversal,
[2019-02-21   07:09 GMT]

The short term cycle calls for a reversal approach achieving a bullish squeeze through three elements:

Head & Shoulder, Retracement 50-61% of the Fib line and a plus where a reversal approach was triggered (check the spike on those Fib levels), and finally the bearish flag where the price market confirmed a close below the upsloping uptrend.

The whole scenario has a width of 130 pips targeting 0.6990 and a close above today’s spike will negate the bear’s food.

CHFJPY Consolidation,
[2019-02-20   06:27 GMT]

Since the start of the year and after that chute at the beginning of January, the cross waves mostly within 100 pips bordering by a rectangle width of 200 pips.

The top right corner of the rectangle coincides with the resistance line of the regression trendline, reading 111.30 / 60.

A clear close above 111.30/60 would be perfected to ride the wave towards the target of the rectangle at 113.30. If the corner fails, one should wait for the 109.30 break to target the southern target at 107.30.

USDJPY Isn’t Fizzling Out,
[2019-02-19   10:46 GMT]

Dollar rally is not gradually ending as pundits expected from the commodity behavior such as gold, our think tank concludes.

The descending triangle, marked in reddish trend lines, had triggered its 480 pips objective fast and wild at the start of the year. Ever since, the market is graphing an ascending channel, marked in blue lines, pointing to the convergence focal point at 112.50.

It is important for the pair to stay above 109.75 for finalizing the trigger at 112.50.

EURGBP Breaking Brexit Consolidation,
[2019-02-18   07:44 GMT]

Daily Perspective: The plummet that started in August 2017 from 0.9300 and ended in September 2017 @ 0.8744 allowed retracement towards 50% in the first half of 2018 and to 61% in the second half of 2018.

Exactly one year later, since August 2018, we notice the market’s trials to break above 50% & 61% failed miserably, almost 18 times and 04 times respectively.

Weekly Perspective: do we observe double top Bearish pin bars where bulls’ supply lines have collapsed?

Conclusion: Last week high should be discussed as very important peak for next bearish leg, breaking the rectangle of the previous year, and march south targeting the low of 2017. Weekly close above the double pin negates seller’s scenario, an unlikely development for the near term.

Swiss in Action,
[2019-02-11   07:22 GMT]

At midnight, a stealthily USDCHF wave occurred for almost 90 pips; who stole it away?

On the other hand, is that a GBPCHF (bullish flag) right handle of the cup pattern? Let’s wait for the breaking point above the psychological influential level at 1.3000

Protect Positions & Market Braces for a Pause
[2019-02-11   07:21 GMT]

Between the Chinese, who resume trading after Lunar New Year Holidays, & the holiday of Japan, Asia market will wait to take its best clue from U.S.-China trade standoff-talk later this week. It is either dialogue is moving great or $200B Chinese goods will face a tariff more than double.

Swiss in Action,
[2019-02-11   07:21 GMT]

At midnight, a stealthily USDCHF wave occurred for almost 90 pips; who stole it away?

On the other hand, is that a GBPCHF (bullish flag) right handle of the cup pattern? Let’s wait for the breaking point above the psychological influential level at 1.3000

Equal Green Zones,
[2019-02-08   05:28 GMT]

For today, let’s keep it simple: Dollar’s strength shows no resilience despite dovish FED. On the 3hr chart, we can see the pair formulated a green zone, congested almost 5-month within last year , then, congested again below the base of the green zone for another 5-month between last year and this year. As European worries continue to rise, the test of the psychological base at 1.1300 is on the approach with a clear break seems in the offing assisting a momentum drive towards the south, targeting 1.1150 and below. Back to the that strength annotation of the dollar, US President Donald Trump said during State of Union address: "In just over two years since the election, we have launched an unprecedented economic boom, a boom that has rarely been seen before." Don’t dare underestimating the translation of the boom during his terms!

Back to Hell,
[2019-02-06   13:21 GMT]

European council president Donald Tusk has said there is a “special place in hell” for those who advocated Brexit without knowing how to deliver it, as he urged Theresa May to make realistic proposals for breaking a deadlock over the Irish border. Euro area’s economy is losing momentum. The dollar extended its advance as Treasuries edged higher.


Global equities are close to levels not seen since November, in part spurred by the Federal Reserve’s tilt toward a neutral policy stance. Further clues on what 2019 holds may come Wednesday from Chairman Jerome Powell’s first public comments following the January meeting and interest-rate decision.

The Chart of the Week: USDCHF
[2019-02-05   12:46 GMT]

Key events in the coming days:

Earnings season continues, with reports this week from Twitter, Hasbro, Ryanair, Disney, Philip Morris, BNP Paribas, ING, MetLife, Societe Generale

Trump delivers a delayed State of the Union address Tuesday

On Wednesday, Federal Reserve Chairman Jerome Powell gives his first public comments following the January FOMC meeting and rate decision.

Central banks in India and the U.K. set rates this week

 

The Weakest of the Day,

The Bloomberg Dollar Spot Index declined less than 0.05 percent.

The euro fell 0.1 percent to $1.1425, the weakest in more than a week.

The British pound decreased 0.2 percent to $1.3013, the weakest in two weeks.

The Japanese yen declined less than 0.05 percent to 109.93 per dollar, the weakest in more than five weeks.

New Year Holiday,
[2019-02-04   12:35 GMT]

With China on a week-long Lunar New Year holiday, markets have been rather too miserable with less enthusiasm at the start of the week, as well as Brexit uncertainty, pound investors will also have to contend with the Bank of England decision this week.

 While officials are forecast to keep interest rates unchanged on Thursday, some economists see the potential for a split  to emerge on the Monetary Policy Committee as some members get increasingly concerned about accelerating wage growth. Any sign of a more hawkish tone among policy makers would support the currency. Currently, Cable is hovering a few pips off the 200 DMA (1.3045).

 Australia’s dollar fell against most of its Group-of-10 peers as an unexpected slide in building approvals raised the prospect that the central bank may adopt a more dovish tone this week.

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