EUR/JPY – Important Zones To Watch For

This morning the Eurozone released their Markit Composite and Services PMI’s which both came out positive. Comparing the latest release to the previous month’s data, we can see that there was a moderate growth in activity with Germany proving to be the best performing country during August. Looking at this pair on the daily timeContinue reading “EUR/JPY – Important Zones To Watch For”

USD/CHF – Updated Analysis

Following up on the analysis of the dollar versus the Swiss Franc, there was a wick rejection of the 78.6 indicated in yesterday’s blog post but towards the end of the US session, the dollar gained strength ultimately pushing this pair above the trend line drawn. Revisiting the daily time frame above, we can seeContinue reading “USD/CHF – Updated Analysis”

USD/CHF – Technical Analysis

With the dollar on the back foot after the Fed’s new inflation policy as well as money being pumped into safe havens let us look at the safe haven pair USDCHF below. Starting on the daily time frame above we can see that the overall structure of this pair is bearish. We can see thatContinue reading “USD/CHF – Technical Analysis”

USD/CAD – Updated Analysis

The announcement of the Fed wanting to maintain average inflation of 2% over time caused major volatility In various markets and ultimately sent saw the Canadian dollar gain on the U.S. dollar. On the 4 hour chart above we can see price fell short of the third touch of the trend line but structure wasContinue reading “USD/CAD – Updated Analysis”

USD/CAD – Hurricane Laura Forcing Oil Rig Shutdowns

Oil prices have started to push higher as Hurricane Laura begins to move from the Gulf of Mexico towards the heart of the U.S. oil industry. Since Tuesday, 1.56 million barrels per day of crude output has been shutdown as well as 15% of the U.S. processing capacity has also been shut down. Let usContinue reading “USD/CAD – Hurricane Laura Forcing Oil Rig Shutdowns”

USD/JPY – Updated Analysis

With the first data release for the dollar coming out negative this afternoon as well as the Consumer Confidence coming out negative, let us look at updated analysis on USD/JPY. On the 4-hour time frame we can see that price rejected off of the potential right shoulder area meaning the head and shoulder pattern isContinue reading “USD/JPY – Updated Analysis”

USD/JPY – Potential Continuation to the Downside

With the dollar index reaching record lows yesterday, let’s look at a potential move to the downside on USD/JPY. On the 4 hour chart above, we can see that price made a lower low by looking at the upward pointing arrow. We also have a potential head and shoulder pattern which lines up nicely withContinue reading “USD/JPY – Potential Continuation to the Downside”

EUR/NZD – Technical Analysis

Today, we’ll be looking at the Euro versus the New Zealand dollar for a potential move to the upside into and possibly through the monthly key of 1.82000. Plotting the fib on the 4 hour time frame we can see that there was a wick into the 78.6 and a reversal off of the 61.8Continue reading “EUR/NZD – Technical Analysis”

Fundamentals for the Upcoming Week

Knowing what to expect in terms of news events for the week is crucial when trading as it gives you more insight into the market direction with the specific pairs you are trading. US and China postponed trade talks that were planned for the weekend past. They were supposed to review the progress made onContinue reading “Fundamentals for the Upcoming Week”

USD/JPY – Technical Outlook

USDJPY has recently closed above a major key level for the first time since the end of July. Below, I’ll do a top down analysis on this pair starting at the daily time frame. Looking at the chart above, we can see that we’ve recently closed above the major key level of 106.500. Looking atContinue reading “USD/JPY – Technical Outlook”