Tuesday, 21 November 2017

AUD/USD tumbled on dovish RBA


In the early Asian session Aussie fell to 0.7530, a level that has not been visited since late June. The mover for this sharp drop is the dovish RBA minutes, as the central bankers are concerned about the job market outlook and slow growth in wages and there for will keep neutral stance for the foreseeable future.
AUD/USD rebounded from the five month low during the Europe trade and the current market price is 0.7575. The recovery was supported by
RBA Governor Phillip Lowe's remarks that next move in rates would most likely be up rather than down, which fuelled the Australian Dollar bulls.
On the four hour time frame the price is below its bearish 100-day and 200-day SMAs and few pips above the 20-day SMA, also bearish. Stochastic is showing strong upward momentum and is slightly above its mid-line, while RSI is located at the mid and has lost directional strength.
The pair remains well supported by the key level at 0.7500, but if breaking it, doors are opened for testing early May’s low at 0.7330. Looking to the upside, 0.7585 is first bulls target and in case of conquering it, the pair would be seen beyond 0.7600.


Monday, 20 November 2017

GBP/USD Shuffled by Brexit headlines, but keeps gains

The GBP/USD is see higher today and marked a two and half  week high at 1.3279 during the early London session, amid the German political concerns and stronger Pound on PM May’s plans to move Brexit talks into second phase. Later on the day pair sharply retreated from the mentioned high and is currently trading at 1.3234. On the four hour time frame the price is moving above its moving averages, having bullish 20-day SMA, which to above the  100-day and 200-day SMAs, both keeping flat stance. Stochastic is showing strong bearish momentum and RSI has turned to north, but both are well above their mid-lines. The short term outlook remains neutral to bullish. Should the pair jump above 1.3260, next bulls’ target will be the key level at 1.3300. 


Friday, 17 November 2017

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Thursday, 16 November 2017

USD/CAD In consolidation mode ahead of US tax reform vote

USD/CAD retreated from the upper levels that was seen during the last sessions, as better than expected Canadian data boosted the loonie. 
As the time of writing the current market price is 1.2735, posting 0.20% down for the day from the intarday high at 1.2786. As seen on the four hour time frame the pair met support at the 23.6% Fibonacci retracement of latest September to late October bullish run at 1.2715. On the same chart the price is developing below its flat 100-day and turned to bearish 20-day SMAs. Stochastic is nearing its mid-line and is displaying strong bearish momentum RSI is located around its mid-line, but has lost directional strength. 
The USD/CAD is consolidating around the 1.2700 handle, the lowest points ot October range. Technically we have mixed signals with prevailing neutral stance. Next on focus is the voting in the House over US tax reform, which will give more clear direction and trend strength. 


Wednesday, 15 November 2017

USD/JPY Still feel bears around

The USD/JPY pair is seen down today and marked a four week low at 112.47during the European session. The US Treasury yields recovered with equities, which backed up the pair and an upward corrective followed and now  the pair is hovering around the 113.00 level. As seen on the four hour time frame USD/JPY found resistance at the 23.6% Fibonacci retracement of latest September to early November bullish run at 113.00 and and the pair retreated to currently trade at 112.92. However the same chart is showing that the sentiment leans to the downside. The price is moving below is moving averages, having bearish 200-day SMA, but the 100-day and 200-day SMAs are staying flat. RSI and stochastic had retreated from the extreme oversold areas but also had lost upward momentum. According to above a bearish extension is expected for the upcoming sessions.  


Tuesday, 14 November 2017

AUD/USD Bulls can’t fight 0.77 handle

Aussie hit a new fresh four-month low at 0.7609 yesterday, a level that has not been visited since July 11th. And this is where the AUD/USD pair found support after the stellar performance of the NAB August business conditions survey figures. 
Today the pair is seen higher and marked daily high at 0.7651, but currently is tarding at 0.7631. The retreatment is mostly due to the China’s macro data that was softer than expected.
Technically speaking, Aussie keeps its bearish stance since early November when bulls lost the fight for the 0.77 handle. On the four hour time frame the price is developing below its moving averages, all with bearish slopes. RSI is hovering around 40 and has lost directional strength. Stochastic is showing bullish momentum, but is yet far below its mid-line. 
Yestarday’s low is providing immediate support and in case of breaking to below, doors are opened for testing 0.7570 (early July’s low). 


Monday, 13 November 2017

Triumph of the ambitions over the abilities

It’s been one year ago (November 8th 2016) since Donald Trump shocked the world and became the 45 President of the United States. And 365 days he spent his time to remind us about this fact by daily tweets. He didn't skipped the beat and made self-congratulatory for the anniversary even being far away from the White House, of course with memorable tweet.
This year will be remembered also with non-diplomatic speeches, endorsement of religious bigotry, incitement of political violence, mocking of disabled, condemnation of equality and treating women like pieces of meat. And the failure of the promises, which were the signature of his campaign. 
The Obama repeal, the „beautiful” border wall that should be paid by Mexico, and a trillion dollar infrastructure blitz remain difficult to achieve. The tax reform plan if giving some glimmers of hope, but details are not ironed out yet. 
Well, thumbs up, great photo, a perfect frame that opposes reality. Too big ambitions. But mismatched the abilities.  
There is a huge gap between thinking big things and actually doing something big.