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Commodity Currencies seen Strengthening against the Greenback

Jignesh Posted 4 July  in #Trader's blog #Audusd #Nzdusd #Usdcad
The Dollar Index was under pressure today, dropping to 95.50. Among the Majors, the commodity currencies were seen gaining the most against the greenback.
Among the Commodity instruments, Silver was seen continuing its bullish momentum. The instrument reached a high of $21.09 before pulling back. Silver was last seen at $20.04 for a gain of 1.6%. Gold has continued to diverge from Silver, and gains seen in the yellow metal were limited to 0.73%.
Oil prices were seen declining, WTI was last seen …
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VictoriaVika 16 Nov.

Good :)

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RBA Statement Overview and Interpretation

Jignesh Posted 3 Nov.  in #Trader's blog #Fundamentals #Audusd #Rba #Inflation #Monetary Policy #Central Bank #Rba Meeting
In Yesterday's blog post I wrote about a technical short setup ahead of the RBA statement. The result turned out to be bullish.
I have taken some time to highlight some key points from my interpretation of the statement. It is included in the image below.
The main impression left from the statement was quite positive. The RBA addressed inflation, as expected as it is a global concern, however they have realistic expectations in regards to the low levels of inflation and expect that may remain so…
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AUDUSD Faces Resistance ahead of Cash Rate & Statement

Jignesh Posted 2 Nov.  in #Trader's blog #Resistance #Audusd #Rate Decision #Rba #Rate Statement #Rba Governor Stevens #Rba Meeting
The RBA is due to release a rate decision, as well as a rate statement early in the Asian session.
The rate is expected to come in unchanged, however speculation favors the downside for the AUD as the RBA has become notorious for it's attempt to jawbone the currency lower.
Looking at AUDUSD, the pair is struggling at 4H Resistance coming in at 0.7147
On the smaller time frames, we can even see a small channel broken, and price retesting. A rejection from current levels can provide a trade setup …
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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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AUDUSD Near Support Confluence

Jignesh Posted 19 May  in #Trader's blog #Trendline #Audusd #Fibonacci Levels #Elliottwave
The AUDUSD had a bearish move on the back of a statement from the RBA in early trading.
The pair dipped down to support in the form of a rising trendline on the 1 hour charts, as well as the 50% retracement of the last leg down. This area has already shown signs of buying and can be an area where we see the pair turn bullish once again.
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AUD Ahead of Rate Statement - Why Today's Meeting is Important

Jignesh Posted 2 Feb.  in #Trader's blog #AUD #Eurusd #Audusd
Rate Statements are very common, and most of the time cause minor volatility to the market and then everything is back to normal. This week that is not the case for AUD.
As the Bank of Canada cut their rates unexpectedly last week, there is speculation the RBA may follow suit and announce an unexpected rate cut.
From the commodity corner, the RBNZ has already announced they will no longer raise rates and are even considering cutting. Canada has already cut, so it's natural to assume Australia wi…
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The Aussie holding it's own against the commodities

Jignesh Posted 9 Aug.  in #Trader's blog #Audusd #Nzdusd #Usdcad
For the larger part of the year I have been bullish the AUDUSD. I recall several times when other traders disagreed and felt the pair would continue to move lower. My view still remains the same as it has. I expect one more leg up in the pair.
I've largely ignored the Aussie in the last month. The pair is looking like it is consolidating sideways. After this week's close however, we see that the pair has pulled back nicely against it's previous low. At these levels, I find there is a good risk t…
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RBA - Hawkish or Dovish?

Jignesh Posted 4 Aug.  in #Trader's blog #Audusd #Rba #Monetary Policy
The RBA has up to recently deployed tactics such as verbal intervention to bring down to the AUD exchange rate, Their goal is to bring down the rate in order to stimulate their economy.
Recently however, the RBA posted an inflation rate of 3%, The highest it has been in 2 and a half years. At this point, their objectives are diverging and they will have to make a decision which way to focus. If they focus on inflation, they would be hinting at raising rates, which of course is bullish for the cu…
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Likerty avatar
Likerty 5 Aug.

None of the mentioned above:)))))))

Jignesh avatar
Jignesh 5 Aug.

What's your take?

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Commodities general outlook

Jignesh Posted 6 July  in #Trader's blog #Audusd #Euraud #Nzdusd #Usdcad #Eurcad #Nzdchf
To start this week off, we can expect to see some movement in the commodity currencies.
Monday is a heavy data day for the currency segment as we have CAD, AUD and NZD data releases. Often we see CAD data near the end of the week and AUD, NZD near the beginning.
My general outlook is that we should be expecting one more leg of strength in these currencies.
The EURCAD offering the clearest structure, is showing critical support levels slightly below current trading levels, where the USDCAD is al…
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New Month, New Contest

Jignesh Posted 1 June  in #Trader's blog #Usdjpy #Audusd
It's a new week, a new month and a new contest!
I always feel fired up and ready when a new month comes, and I think other trader's do as well. There is a lot of positive energy in the air.
My strategy for the new month, after reviewing this past contest, is to be patient. I can see from my blog posts in last months contest that I was patient for the first 2 weeks and did quite well and managed to get in the top 10. At that point I got careless and took many positions after being diligent wit…
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