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AUDUSD approaching Daily Support

Jignesh Posted 1 June  in #Dukat blog #Support #Audusd #Fibonacci Levels #Candlesticks
AUDUSD has been hit quite a bit as of late, Almost as bad as the NZDUSD which is the one of the few USD pairs that has broken to new lows.
Today we see the Aussie test the 88.6% fibonacci level on the daily chart, as well as major daily support at 7588. We may see the pair get bid here. A break below, can open up the downside.
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USDCAD up against resistance confluence

Jignesh Posted 29 May  in #Trader's blog #Trendline #Usdcad #Channel #Fibonacci Levels #Candlesticks
The USDCAD has been showing strong upside momentum for the last two weeks, but momentum was seen slowing down up against a resistance confluence area on the daily chart.
The chart below shows a combination of trendline resistance, channel resistance, as well as the 61.8% Fibonacci level from highs to lows.
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USDJPY Building up Stop Losses below 118.85

Jignesh Posted 15 May  in #Dukat blog #Usdjpy #Support #Trendline #Fibonacci Levels #Candlesticks #Dukat Contest #Targets
The USDJPY appears to be trading sideways for most of the year. The daily chart below, shows that 118.85 has become significant support as price has bounced from that level several times
Often in a range type environment, we can measure an equal distance from the high of the range to the low, to determine a possible target. The above chart has done exactly that to determine an approxiamete target in the case of a bearish break to be at 116.16.
The chart also shows a downward trendline in play as…
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GBPCAD Forming a Daily Doji against it's 50 Back

Jignesh Posted 12 May  in #Trader's blog #Support #Resistance #Trendline #Channel #Fibonacci Levels #Gbpcad #Candlesticks
The British Pound has rallied quite strong over the last few weeks. The major catalyst was the elections last week, we saw some follow through with decent data coming from Great Britain this week.
The rally has caused the GBPCAD to come back and test the 50%Fib of the last leg down. We are starting to see the strong momentum die down a bit, which can be seen as Daily Doji in the making.
Other Pound pairs have made some significant breaks during this same time period. The GBPNZD for example has b…
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EURUSD Weekly Outlook

Jignesh Posted 3 May  in #Trader's blog #Eurusd #Fibonacci Levels #Candlesticks
The EURUSD is approaching some interesting Fib levels as of late. On the daily chart it can be see that the pair has received a bit of selling pressure at the 76.4 fib.
However, there are some other factors that give a different picture. The level at 1.1112, which marks both the 61.8 Fib as well as Daily Resistance, was recently breached. In fact the Daily chart does not show any selling activity in that area at all. Aside from significant resistance being broken, the Weekly chart also suggests …
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EURNZD Reversal Continues with Strong Momentum

Jignesh Posted 2 May  in #Trader's blog #Resistance #Trendline #Eurnzd #Channel #Candlesticks
Eurnzd posted it's second weekly gain after being in a downtrend since Feb. The larger trend in the pair (Weekly/Monthly/Yearly) are all in a downtrend as well.
Although the momentum in the pair is strong, as indicated by the weekly candlesticks, the pair looks to be approaching some resistance.
Weekly resistance comes in at 1.5092, which held price up July/August 2012 and then once again in April 2013. Ahead of that level, there is also a long term channel formation in play dating back several …
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NZDCAD Daily Reversal Candlestick at Bottom of Channel

Jignesh Posted 1 May  in #Trader's blog #Channel #Candlesticks #Nzdcad
The NZD has been bearish this week after the RBNZ in a statement following the cash rate commented on intentions of cutting rates if inflation and related data does not improve. This coming after just a few months ago, it was largely expected by the markets that the RBNZ would continue their rate hike cycle.
The NZDCAD has sold off to the bottom of it's daily channel. Although there should be selling pressure after this recent news event, the pair has been on a monthly uptrend since the start of…
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USDCAD Struggles at Major Monthly Resistance

Jignesh Posted 30 Apr. as Analysis on USD/CAD, Target: 1.2007, Date: 1st of June, 12:00 GMT  in #Technical analysis #USD/CAD #Usdcad #Channel #Pullback #Support And Resistance #Candlesticks #Elliottwave #Trendlines #Fibonacci Retracements #Multiple Time Frame Analysis
Overview
USDCAD Has been struggling to take out Major Monthly Resistance since it first approached the area at the beginning of the year. The USD being in a long term uptrend caused the pair to consolidate in that area for several months. The month of April however, has shown an engulfing Monthly Candle which supports the idea of a larger pullback taking place.
Levels
1.2797/1.2800 - Jan 2015 Highs / Monthly Resistance (Late 2008) / Monthly Resistance
1.2475/1.2525 - Monthly Channel Upside Resis…
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Jignesh 14 May

The fib levels from (x) to (a) has a confluence at the 23.6% fib which comes in at 1.2007.  That area is a technical level which has been marked above and is also the target for this analysis.  That will be the first area to watch for to the upside for a rejection and continuation of downtrend.

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Jignesh 15 May

The retracement has continued today.  The important level 1.2007 also the 23.6% retracement was taken out in early trading.  Upside Fib targets are now the 50% fib at 1.2050, but it is more likely that we see the 61.8 Fib level at 1.2080 before the selling resumes to complete the final leg.

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Jignesh 20 May

The retracement has continued higher with fairly strong momentum as well.  Today the pair is capped by it's 88.8% retracement.  This level is the last level to hold, if it does not, the existing count would be invalidated and a revised count would need to be looked at.

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Jignesh 20 May

The 88.8 fib comes in at 1.2242

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Jignesh 22 May

USDCAD has been holding at the 88.8 Fib.  Today has several fundamental risk events that can add some volatility, and will be looking for a move down here to confirm that this area is in fact holding and we now continue the downtrend, and mark this wave as (b).

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Playing the Channel on EURNZD

Jignesh Posted 30 Sep. as Analysis on EUR/NZD, Target: 1.5806, Date: 3rd of November, 12:00 GMT  in #Technical analysis #EUR #NZD #Fibonacci #Channel #Downtrend #EUR/NZD #Candlesticks #Moving Average
Overview
The EURNZD is in a channel on the Daily chart. So far it has shown clear rejection from the upper channel line after briefly spiking to the weekly 200MA.
The pair is trending down after peaking in late August of 2013. After posting an engulfing candle against the daily channel, the expectation is for the downtrend to continue at this point.
Levels
1.6462 - Weekly 200 Moving Average
1.6340 - Daily Close Sept 28 (Close below trendline after spike)
1.5806 - Daily 61.8% retracement of …
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Jignesh 9 Oct.

The pair faced a rejection of the 61.8% retracement of the last leg down just prior to the FOMC minutes today.  It may be too early to tell, but so far the weekly candle stick pattern is shaping up to be in favour of a bigger leg to the downside

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Jignesh 13 Oct.

First level of resistance comes at 1.6192 which marks last week's open.  With the second level of resistance coming in at 1.6226 (weekly fib level).  A spike high this week is a certain possibility but the focus is on a lower weekly close, preferable taking out support at last week's low at 1.6030

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Jignesh 24 Oct.

While moving the targets, the pair made a rapid reversal on a slew of data both negative for the NZD and positive for the EUR.  1.6200 is upside resistance,  A close below 1.6140 (weekly trendline)  will be required to maintain downside pressure.

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Jignesh 27 Oct.

The reversal correction is starting to show that it has completed and the downtrend may have resumed.  The biggest risk event for the pair this week will be the RBNZ statement.  It is well known that the central bank wants to see the kiwi lower and will most likely attempt to jawbone the currency at the event on Wednesday. 

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Jignesh 31 Oct.

The FOMC and RBNZ on Wednesday played Havoc on the pair, but not only has it managed to retrace the gains within a short period of time, it has not broken to new lows taking out support at 1.6015. 
With the ATR of this pair, it has good potential to reach targets.  Event risk for the EUR coming shortly with CPI estimates expected to have high impact.

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EURAUD - Daily Engulfing candle at 38.2% retracement

Jignesh Posted 30 Sep. as Analysis on EUR/AUD, Target: 1.3676, Date: 3rd of November, 12:00 GMT  in #Technical analysis #AUD #EUR #Fibonacci #EUR/AUD #Pullback #Downtrend #Candlesticks #200Ma #Engulfing
Overview
The EURAUD has been pulling back from a downtrend that started at the beginning of this year.
The daily engulfing candle at the 38.2 Fibonacci retracement hints that the pull back has completed and the downtrend may resume
Levels
1.4576 - 38.2% Retracement on Daily
1.3676 - Daily Trendline projection for Nov 2
1.3588 - 127% Extension on Daily (1.3800 - 1.4587)
1.3530 - Weekly 200 Moving Average
Figure 1 - EURAUD Daily - Engulfing candle at 38.2% Fib retracement

Figure
…
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Jignesh 6 Oct.

The week closed off to draw a doji on the weekly chart, and the new week has the pair testing last week's low ahead of the London Open.  A daily close below this level (1.4340) will confirm a reversal is most likely on it's way.

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Jignesh 9 Oct.

EURAUD is struggling to break through it's weekly range.  There has been a spike down which saw buyer's stepping in.  Once again, the pair is approaching that key 1.4340 opening range level.  A break below is required to build momentum to the downside.

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Jignesh 13 Oct.

The pair has traded through the previous high to make a new high.  The 200 Daily MA comes in focus at 1.4626 to put pressure to the downside with a fib level slightly above at 1.4661 to contain any spikes.  This will be the last line in the sand for the pair for any downside pressure to remain.

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Jignesh 24 Oct.

The 200 Daily SMA has held, and the downside looks promising.  The targets in this prediction still remain valid, however the completion time may take longer as the pair has spent quite a bit of time consolidating.

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