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USDJPY Buy @ 112.80
SL – 112.26
TP 1 – 113.30
TP 2 – 113.86

USDCAD Buy @ 1.2503
SL – 1.2438
TP 1 – 1.2563
TP 2 – 1.2630

EURUSD
SELL @ 1.1750
TP1:- 1.1705
TP2:- 1.1635
SL:- 1.1806

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Date 28/09/2017

USDCAD Buy@ 1.2460 (Yesterday’s Signal updated on our Telegram Channel)
SL – 1.2385
TP 1 – 1.2520
TP 2 – 1.2575
TP 3 – 1.2640

GBPJPY Buy@ 150.50
SL – 149.85
TP 1 – 151.26
TP 2 – 152.20
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Date 27/09/2017
NZDUSD Buy @ 0.7180
SL – 0.7122
TP 1 – 0.7238
TP 2 – 0.7291
TP 3 – 0.7363

 USDJPY Buy @ 112.30

SL 111.30
TP 1 – 112.90
TP 2 – 113.20
TP 3 – 114.30

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Date 26/09/2017

GBPUSD Buy @ 1.3450
Sl – 1.3370
Tp 1 – 1.3525
Tp 2 – 1.3620

USDJPY Buy @111.60
SL – 111.15
TP 1 – 112.20
TP 2 – 112.50

Buy GBPJPY @ 150.50
SL – 149.85
TP 1 – 151.26
TP 2 – 152.20

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BTMU FX Strategy Research notes that the EUR has weakened during the last trading sessions following the more unfavorable result of German elections.

“As widely expected Angela Merkel won her fourth term as German Chancellor despite a sharp decline in public support. Her bloc of the CDU and CSU won only a combined 33% of the vote compared to 41.6% in the previous election. However, the main opposition party of the SPD also performed poorly securing just 20.5% of the vote which was a record low since the creation of the federal republic. The main beneficiaries from the loss of support for the main parties were the far-right AfD who won 12.6% of the vote and the liberal FDP who won 10.7% of the vote thereby securing them both seats in the new parliament,” BTMU notes.  Continue reading

Currency investors should consider buying USD/CAD* this week, advises Barclays Capital in its weekly FX pick to clients.

Barclays recommends buying USD/CAD via a call option for targeting 1.2540.

Barclays’ key rationale behind this call is to position fro a USD retracement and further re-pricing of October BoC hiking expectations.

 

We see downside risks for the CAD into Governor Poloz’s Wednesday speech. Mr. Poloz will likely side with Deputy Governor Lane in noting that the BoC is assessing CAD strength in the context of subdued inflationary pressures. We expect markets to re-price the prospects of an October rate hike by the BoC and the CAD to weaken,” Barclays argues.

Source: Barclays Research

Bank of America Merrill Lynch FX Strategy Research discusses its trading strategy for the EUR noticing that this week’s ECB meeting was a non-event for the EUR and focus now shifts to the French Parliamentary elections next week.

“Investors went into the meeting with a relatively light position in our view, looking for an opportunity to buy any EUR dip. We have to wait for this fall to get the details on the future of QE after this year. 

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EURGBP important levels are displayed in the chart above.

Recommendation:

Buy between 0.8660-0.8680

SL below 0.8548

Target 1 around 0.8730

Target 2 around 0.8772

Please avoid 0’s and 5’s while placing stops and count spreads and set the values accordingly.

Best of Luck!!!

USDCAD important levels are displayed in the chart above.

Recommendation:

Buy above 1.3383

SL below 1.3309

Target 1 around 1.3503

Target 2 around 1.3577

Please avoid 0’s and 5’s while placing stops and count spreads and set the values accordingly.

Best of Luck!!!

Gold has reemerged on the bid since the double bottom on the 18th May, relishing within the broad-based weak dollar environment and DXYdropping back below the 97 handle.

A multi-year downturn in the dollar in the making? – Nomura

Gold has been better bid since DXY lost the 99 handle in a strong offer from 9th May 99.65 highs. The markets are trading on a good mix of political and economic challenges that world leaders are facing and the general risk tone is weighted more negatively. This enables the gold to run higher in times of risk aversion. The key scenario unfolding, however, is that the dollar is losing its safe haven status currently on both the political and economic front. While markets are pricing in rate hikes still this year, there are some doubts as to whether the Fed can sustain the optimism in the wake of weaker than expected key data of late. The 10-year treasuries are showing signs that the 2.3% psychological level is becoming a bit of a ceiling of late and that too is weighing on the greenback.

Gold levels

In terms of levels, Gold is back to 1,260 and made a high of 1,262.79 today. A continuation through 1,265 opens the avenue for 1,270. 1277, 1288 and finally 1292 are the key resistance n the way to the April highs. To the downside, a loss of the 1260 level opens 1255 and the 20 4hr sma as a key support level.

 

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