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Long Kiwi

NZD/USD

Posted on: March 29, 2015 at 11:34AM

Long / Short: Long

Current Price: 0

Target Price: 0

Analysis:

As for the New Zealand dollar, the positioning of hedge funds is still net short (all primary bottoms of NzdUsd were made in this condition), but also the technical analysis seems to provide encouraging signals. A double low has formed at 0.72 theoretically, but only the final break of 0.76 will formalize (but will also shut down) the downtrend in place since July 2014. The next target would be 0.80 that will further extend the currency reward for bonds holders of Nzd. The risk of entering at these prices can be contained and this is why we believe it could be interesting to go long NzdUsd.

Posted by: forextravel

April, a positive month for the Aussie

AUD/USD

Posted on: March 29, 2015 at 10:11AM

Long / Short: Long

Current Price: 0.775

Target Price: 0.8

Analysis:

April is a traditionally positive month for the Australian dollar, and for what concerns AUDUSD, this month should only serve to avert the danger of a fall in area 0.70. At the moment the trend remains bearish and the big clouds that look across the Aussie should prevent a trend reversal, but the very favourable seasonality and the proximity of primary supports could favour an attempt to climb up to the strong resistances of area 0.80. Going long now may be a good trading idea.

Posted by: forextravel

EURAUD, GO LONG

EUR/AUD

Posted on: March 22, 2015 at 4:30AM

Long / Short: Long

Current Price: 1

Target Price: 1

Analysis:

As we can see from the daily EURAUD graph, the change is now placed near the 50% of retracement of the bull market in place since 2012, i.e. 1.3722. Since the previous rise started in 2012 and was divided into 5 waves, we could be facing a correction of ABC even if we cannot exclude a lunge up to 1.32 / 1.33, supports that are coinciding with the 61.8% of Fibonacci and also levels in which the two downward legs are equal in amplitude. The moment seems propitious to go long on EURAUD also considered the revival signals coming from EURUSD after the meeting of the Fed on last Wednesday.

Posted by: forextravel

MARKET MOVERS FOR EURZAR

EUR/ZAR

Posted on: March 15, 2015 at 6:13AM

Long / Short: Short

Current Price: 13.1

Target Price: 12.5

Analysis:

The data on inflation in addition to retail sales will be published in South Africa on March 18th and these may be good reasons to follow EurZar. As we can see from the graph, the cross is experiencing a lateral phase from January and now ranks just below the cloud generated by the Ichimoku technique. Here it is reasonable to think of going short with a stop that should be fixed above 13.75; clearly the current movement could represent a good opportunity to increase the exposure to the Rand in the light of a downtrend in place for over a year and that does not provide concrete reversal signals at the moment.

Posted by: forextravel

USDCAD,CONTINUATION FIGURE

USD/CAD

Posted on: March 8, 2015 at 11:07AM

Long / Short: Long

Current Price: 1.262

Target Price: 1.3

Analysis:

UsdCad continues its completion of the typical triangular figure that usually preludes to a continuation of the trend, in this case a bullish one. Now the top of the triangle is close and this makes an upward movement quite likely. Overcoming the resistance of 1.2660 would be the confirmation of a re-start of the trend, and it would probably go together with a renewed weakness in oil. The March-April seasonality would theoretically favour the Cad, but a weakness scenario resulting from the overcoming of the above mentioned resistance would be the confirmation of the strength of a current long UsdCad.

Posted by: forextravel

EurUsd, incoming volatility

EUR/USD

Posted on: February 27, 2015 at 1:36PM

Long / Short: Long

Current Price: 1

Target Price: 1

Analysis:

A triangle is evidently forming on EurUsd after the rise 1.1098-1.1534; the figure has now reached the two-thirds of development that should herald a directional movement. Considering the three waves developed with the upward 1.1098-1.1534, we should witness to a simple continuation of the corrective movement with target between 1.1715 ( wave C here would be equal in amplitude to wave A) or 1.1990 (where wave C would equal 1.618 times wave A), even in case of an upward break of 1.1450,. Only going over these resistances would prelude to a change of scenery.

Posted by: forextravel

USDJPY, THE TERRIBLE MONTH FOR JPY IS COMING

USD/JPY

Posted on: February 27, 2015 at 1:28PM

Long / Short: Long

Current Price: 119

Target Price: 122

Analysis:

March is historically a difficult month for JPY which tends to be weak in the third month of the year. The negative seasonality comes at a particularly delicate moment from a technical point of view with a triangle continuation of the bullish trend that could herald a new upward movement. As we can see from the graph, the barrier of 120 represents the critical node to overcome in order to change the lateral trend started in December. By setting a stop loss in area 117 we believe that we can try a long UsdJpy from now.

Posted by: forextravel

DOLLAR INDEX, A CONTINUATION FIGURE

DXY

Posted on: February 21, 2015 at 7:07AM

Long / Short: Long

Current Price: 94.5

Target Price: 99

Analysis:

Still no news on EurUsd with the market that remains between 1.12 and 1.15, waiting to take a new direction. This behaviour is also reflected on the Dollar Index, which is, however, taking a typical triangle configuration that would seem to anticipate a continuation of the bullish scenario. As we can see from the graph the current phase of the Dollar Index is typical of a reflection stage with a continuation figure with converging tops and lows that are temporarily interrupting the trend. A daily closure of the Dollar Index above 95 would confirm the bullish view while below 93 we could witness a trend reversal.

Posted by: forextravel

Bullish EurNok

EUR/NOK

Posted on: February 14, 2015 at 6:53AM

Long / Short: Long

Current Price: 8.65

Target Price: 8.9

Analysis:

The 50% of the bullish movement has been retraced by EURNOK thanks to the rebound of the price of oil prices. But now the cross is facing a considerable support barrier, i.e. the range between 8.50 and 8.57 that could favour a first stop in the strengthening of the Norwegian currency. The technique of the Ichimoku cloud with the weekly candles offers us a view that is less influenced by the movements of the short term. The closure of the week with a candle known as hammer seems to confirm the value of a support which should raise up the cross. Here we can go long with stop below the low of the last week 8.55.

Posted by: forextravel

GBPUSD, BULLISH HEAD AND SHOULDER

GBP/USD

Posted on: February 7, 2015 at 2:29PM

Long / Short: Long

Current Price: 1.52

Target Price: 1.55

Analysis:

The Friday session reached the formalization of a reversal figure known as head and shoulder. This movement has stopped near the main bearish trend line, but the bullish movement cannot be considered exhausted. As for the book of technical analysis, the target of this figure should be located in area 1.55 starting from the so-called neck line. The RSI oscillator seems to anticipate the violation of the down trend line as we can clearly see on the chart. The Thursday bullish engulfing pattern gives the final confirmation to a movement that will not have to go below 1.50 for not being annulated.

Posted by: forextravel

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