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USDJPY, ENTERING FROM THE SUPPORTS

USD/JPY

Posted on: April 19, 2015 at 2:57AM

Long / Short: Long

Current Price: 118

Target Price: 122

Analysis:

A consolidation phase is occurring after the top of December 2014 in area 122 with UsdJpy that is repeating its behaviour already seen in other cases from 2012 to today when a triangular shaped consolidation phase was followed by very strong bullish directional phases. The bullish regression line has contained the double downward attempt in recent weeks and now the same support is still under pressure. An upward break would target area 128, while a bearish break of 118 would open new favourable scenarios to the Yen, a view that we prefer to discard at the moment, favouring the long side.

Posted by: forextravel

EURJPY, a third decreasing low

EUR/JPY

Posted on: April 11, 2015 at 7:37AM

Long / Short: Short

Current Price: 127

Target Price: 125

Analysis:

As we can see from the graph of EurJpy, Rsi prices divergences are strident, but we believe a third decreasing low in prices (and growing in the Rsi) will serve to close this bearish phase. Until now, the fall was divided into five waves, but it is not excluded that the fifth wave gets a final diagonal with a possible involvement of area 125. At that point, we believe that a long EurJpy could have an excellent risk-return ratio to try a long summer trade. The closure of the week below the important support of 128.50 seems to confirm this view.

Posted by: forextravel

EURUSD, awakenig signals

EUR/USD

Posted on: April 4, 2015 at 5:55AM

Long / Short: Long

Current Price: 1.097

Target Price: 1.13

Analysis:

Signals on the end of the downward are still coming from EurUsd. After a classic correction in three bars below the top of March 26th of 1.1053, the exchange rate has provided a short-term bullish signal, also accomplices the disappointing data on the labor market on Friday. It might also reach 1.13 if the short term resistance of 1.1053 will be exceeded in the closure, but at that point maybe 1.15 could also be a realistic goal. At this point we could try a long by fixing the stop loss of the trade on the low of the last of April 1.07.

Posted by: forextravel

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

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