The Canadian dollar’s recent rally appears to be coming to an end and the Sterling bulls are looking to reverse recent losses. The net result is the GBPCAD cross finding support along the bottom of the channel.   The Canadian dollar strengthened recently on news Burger King will be purchasing Tim Hortons for C$12.5b, prompting […]

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  We suspect that US data will deliver tonight and to bring downwards pressure upon AUDUSD. However with Europe and London due to open we do run the risk of further highs, as they absorb good CAPEX data and buy before the US data dump tonight. 0.937 is the 3-week high with a break above […]

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  AUDNZD broke the channel this Monday and is forming higher highs. This channel held the pair for about 8 months before we saw a break above. This break has triggered many sell entries and hit quite a few stop losses. On the other hand our sell trade also got triggered, we originally had our […]

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EUR dropped to 1.3185 this morning and opened the week with a huge downside gap. Today the pair may consolidate around 1.3200, and tomorrow to start a recovery. This week is the end of the month trade, so we expect some profit taking from Short after Wednesday. Weekly, Daily and H4 indicators are bearish but […]

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As presumed 3295 has been a good level to watch for selling opportunities. If 3300 breaks 3325-30 is POC zone where we might start looking for new shorts with targets around 3270 and 3225 at the break of 3250. 3325-30 is the important zone as we can spot double FIB confluence, both intraweek and intraday […]

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As presumed 3295 has been a good level to watch for selling opportunities. If 3300 breaks 3325-30 is POC zone where we might start looking for new shorts with targets around 3270 and 3225 at the break of 3250. 3325-30 is the important zone as we can spot double FIB confluence, both intraweek and intraday […]

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EURUSD The Euro has eventually broken near-term base and consolidation bottom, signaling resumption of larger downtrend, as the price tested psychological 1.3300 support. Studies on all timeframes remain negative and favor fresh downside, where the pair is looking for test of near-term targets at 1.3247, Fibonacci 38.2% of 1.2042/1.3992 ascend and 1.3209, Fibonacci 100% expansion […]

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EURUSD The Euro remains in near-term range trading, following repeated stall of attempts at 1.34 resistance zone, seen yesterday. Near-term studies weakened and trade in the range's lower part, following pullback of 1.3398, yesterday's rejection level and high of the day. Break of either side of the range is required to define near-term direction, with […]

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With Yellen and Stevens due to speak this week, along with minutes released by FOMC and RBA then the odds favour increased volatility. Hopefully we will be treated with a directional move too. Potential AUDUSD drivers this week – RBA Monetary Policy Minutes on Tuesday – RBA Glen Stevens testimony to parliament on Wednesday – […]

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NZDUSD bearish extension threat intact As expected, a new cycle low through .8422, just holding above the key .8402 level, still capped by the trend line from July at .8460 and solid chart resistances at .8495 and .8535 We still see bias for further downside pressures this week, with risk through the key June swing […]

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