10,000 Ft View – 4 Hr Chart
What I like about the level to short is it appears to be a magnetic for price and price has topped and is round down.
So the set-up was on the 1 hr chart, were price consolidated, then took out a pivot low before pulling back.
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.
The lira was down as much as 14% this year and the lira has suffered instability since mid-March. Plunging reserves and a lack of economic policy tightening are contributing to the uncertainty in Turkey. The US-China trade war has the potential to decelerate the global economy, and so investors are rushing into the safe haven Japanese Yen.
Monthly Chart (Curve Time Frame) – monthly supply is 24.000 with no monthly demand.
Weekly Chart (Trend Time Frame) – the trend is down.
Daily Chart (Entry Time Frame) – the chart suggests to go short at the daily supply
The New Zealand Dollar remains under pressure early Thursday as lingering U.S.-China trade tensions continue to weigh on sentiment. Sellers are also responding to heightened concerns about global growth and the news that the Trump administration is considering Huawei-like sanctions on Chinese video surveillance firm Hikvision.Bearish traders are also betting on a further reduction of the cash rate before year end. That could be the reason why the New Zealand Dollar failed to draw support from Wednesday’s better-than-expected retail sales data.The release of the Fed minutes on Wednesday failed to generate much movement in the currency. Even with the Fed
Some of the world’s currencies are accepted for most international transactions. The most popular currencies are accepted for most international transactions are the U.S. dollar, the euro, and the yen. However, the U.S. dollar is the most popular. And in the foreign exchange market 90 of forex trading involves the U.S. dollar. Thus, when assessing the relative strength of the most popular currencies in the world, it’s always against the U.S. dollar, using the daily time frame chart.
The “major” forex currency pairs are the major countries that are paired with the U.S. dollar (the nicknames of the majors are
As U.S.-China trade-war rhetoric escalates without any plan for a resumption of negotiations, currency strategists are mapping out foreign-exchange implications.
Bank of America Corp. sees the Japanese yen strengthening as investors flee risky assets, and has recommended an associated euro-yen trade. Goldman Sachs Group Inc. warns that currencies from the euro to South Africa’s rand and Chile’s peso could be in the firing line.
Over at Bank of America, the currency team last week initiated a three-month put spread that takes a short position on the euro-yen currency pair, with the view that investors will be seeking a haven with no quick
10,000 Ft View – 4 Hr Chart
The chart is marked up already because I’m already short this pair:
Forex $1 MM Challenge – Trade #7 (3-25-19) Sold NZD/CAD
Lets zoom in for a closer look at the trade set-up.
An even closer look of the set-up.
What I like about the set-up is price based, meaning buyers and sellers were going to battle, until the sellers won as indicated by strong move away from the level and also took out previous demand to the left (purple circle). What I also like is the move back to the area was strong as well
The Reserve Bank of Australia appears poised to slice official interest rates, with governor Philip Lowe on Tuesday saying it would be on the bank’s agenda next month.In a speech to the Queensland branch of the Economic Society of Australia in Brisbane, Dr Lowe said without a cut in interest rates it was unlikely the bank’s forecasts for lower unemployment and a lift in inflation would be met.Reserve Bank governor Philip Lowe, in a speech in Brisbane, says the RBA will “consider the case for lower interest rates” when it meets in June.Declaring that Australia could “do better” than have
Indonesia’s central bank said on Thursday it will consider whether there’s room to ease monetary policy, the first indication it’s given this year of possible interest-rate cuts to unwind a series of hikes in 2018.Bank Indonesia left its benchmark interest rate unchanged at 6%, as expected, with Governor Perry Warjiyo telling reporters in Jakarta that the policy stance is “cautious neutral” and data dependent.After 175 basis points of hikes last year, policy makers in Southeast Asia’s biggest economy are reluctant to ease too quickly to avoid destabilizing the currency, which is already under renewed pressure from rising U.S-China trade tensions
10,000 Ft View – Daily Chart
Lets zoom for a closer look at the trade set-up on the 10 min chart. What I like about the set-up is price formed a level on level (supply zone on top of another supply zone) and what I’m looking for is some of the momentum to fade.
Here is a closer look at the zone.
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.
Australia’s dollar has been under pressure for quite some time as it’s dealing with the US-China trade war, which is resulting in a slowing economy.
This past weekend, the 2019 Australian federal election was held to elect members of the 46th Parliament of Australia. The surprising winner was Mr Morrison, who campaigned primarily on economic issues and beat out Mr Shorten, who promised to cut tax breaks for the wealthy. At the opening on Sunday in Forex, the Aussie was catching bids, which pulled back right into a daily supply zone.
Monthly Chart (Curve Time Frame) – monthly
