NZD/USD Rising Wedge Continuation
The resistance along the 0.8000 level will present a particular challenge to NZD/USD bulls however a break through a "00" can attract more buying momentum and that's partially what will be needed. What else?… More…
The daily NZD/USD has rallied to the upper trendline resistance level of a year-long Rising Wedge. The pair is also testing the waters above 0.8200 which I will be watching closely for bullish momentum.… More…
The resistance along the 0.8000 level will present a particular challenge to NZD/USD bulls however a break through a "00" can attract more buying momentum and that's partially what will be needed. What else?… More…
It starts with the lack of acceleration through the "00". Breaks through major psychological level - of which the "00" is the most significant - can often lead to momentum as prices find footing at the "00". When this doesn't happen, I have to stop and wonder why...… More…
The New Zealand Dollar continues to defy gravity. The currency known also as the kiwi is gaining on expectation that commodities will continue their overall uptrend. Benefiting from both economic and geographic ties to China, the New Zealand economy is benefiting from the "risk on" psychology of seeking higher-yielding assets… More…
The USD/CHF trend following play is not necessarily invalidated by the market trend transition but additional resistance levels will offer insight into where the current push higher may exhaust and therefore also where the bears will step in.… More…
...if so, time to jump on the correction higher as prices reach for the 20 period SMA. This rally has carried the USD/CHF to the 50% Fibonacci Retracement of the April 19 high to May 5 low.… More…
I'm returning to the on-going discussion we've had regarding the Channel Up, mark up trend, and the swing buy I've been watching/waiting on the 240-minute EUR/USD. On April 26 and 29 I brought up my strategy for a swing buy and also my shift to an intraday entry because of the near-term support that the EUR/USD is seeing.… More…
The downtrend is not letting up in the USD/CAD so far as the Asian session has opened for the week and the loonie continues to hammer the dollar. Not completely surprising the the slight bounce being seen on the daily time frame.… More…