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Wednesday, July 15, 2015

AUDNZD Sell Recommendation July 16th 2015

Currency Pair: AUDNZD
Timeframe: Hourly Chart (H4)
Recommendation: Sell AUDNZD @ 1.1290
Take Profit @ 1.1000
Stop Loss @ 1.1400

The AUDNZD has rallied after a sharp sell-off took this currency pair to a lower low. The current rally is stuck at its resistance level and should this be the end of it a lower high would be confirmed which means the next move will be to the downside and likely set a new lower low.

I expect volatile trade ahead, but will use this as a good entry opportunity for my short positions. I expect a sell-off on the back of profit taking, but I am prepared to hold this trade through the end of this year if necessary.


Thursday, July 2, 2015

NZDJPY Buy Recommendation July 3rd 2015

Currency Pair: NZDJPY
Timeframe: Hourly Chart (H4)
Recommendation: Buy NZDJPY @ 82.60
Take Profit @ 89.00
Stop Loss @ 81.10

The NZDJPY has sold-off nicely and everyone who was short in this currency pair, congratulations on some deserved pips. I think we will see a volatile period ahead of us where this currency pair will try to carve out some solid support before we will witness a sharp reversal.

I am positioning myself for a short-covering rally as I do think the sell-off was overstretched and left the NZDJPY in extreme oversold territory. We could see some choppy, sideways action before forex traders will realize floating trading profits.