Forex Spider's Den GF Edition

EUR/USD is looking bullish

http://screencast.com/t/iKTQZUel76

 

Interview with Fxstreet.com

What currency pair do you expect to be more volatile during this August holiday period?

GBP/JPY aka the Dragon. This pair has been my favorite pair to trade last couple of months as the movement is huge along with exceptional volatility, and I like it! J Unlike the EUR/USD aka the Fiber, the Dragon’s ATR has been very solid. This time the volatility is due to the uncertainty of the GBP due to upcoming Brexit, which makes it a sensitive combination, with the already sensitive Yen due to stimulus in Japan and bullish trends in Equities. The dragon also presents the gauge for risk-off moves as carry-trades gets reversed. Don’t forget when there is a risk-off environment, the JPY appreciates as foreign flows from Japan are repatriated back to their local currency. Additionally, appreciation of JPY during risk off scenarios is exponentially stronger due to exchange rate misalignment and restrictions on international capital flows.

USD doesn't seem to get any clear direction with US data coming in different directions. Do you believe in a Fed rate hike this year?

The majority of USD data has been strong of late, with the exception of PPI and US Retail Sales data of recent. Nonetheless, one core component of the Fed’s rate decision is based on a 2% Inflation rate; yet, with the Inflation still at 1% YoY, it is likely to delay further rate hikes this year.

What are the key levels for the GBPUSD?

Short term: 1.2860, 1.2808 and 1.2722 to the downside. 1.2967, 1.3020 and 1.3094 to the upside.

Mid Term: 1.2512 as support (If 1.2800 breaks) and 1.3592 (If 1.3405 breaks).

Do you expect more rate cuts from RBA or RBNZ in the future to avoid AUD and NZD strength and stimulate exports?

Yes, it is likely that the RBA and RBNZ may cut further.Both suffer from high property prices which have nonetheless been stimulated by rate cuts.I think it is more likely that the RBA may cut further than the RBNZ, given Australia’s exposure to the Commodities sector, but it could also mean that the RBNZ is forced to cut rates should the RBA cut further to protect its major export market, being Australia.


READ THE FULL ARTICLE HERE

 

GBP/JPY is targeting sub 130.00 zones
http://screencast.com/t/X009mZ7lImLN

 

GBP/USD double top in progress
http://screencast.com/t/xWzfpKuZ

 

EUR/CHF Inner trend line retest in progress

 

USD/CAD hidden bullish divergence at L5 pivot

http://screencast.com/t/TOjbaO7YKF0

 

GBP/JPY hidden divergence could empower bulls
http://screencast.com/t/Xug4DvSnVV

 

3 most important trading plan improvements

 

EUR/USD hidden bullish divergence at 88.6 fib

 

US Fed decision’s market impact

 

EUR/USD showing strength due to USD weakness

 

Live streaming link of my seminar on Sunday

 

How failure breeds success

*Your capital is at risk

 

EUR/GBP is forming reverse bearish divergence

 

Black Thursday flash crash GBP: What really happened?

 

Trade with us and earn credits

 

EUR/AUD M double top shaping up *Your capital is at risk

 

EUR/USD on track for 1.08 flat Your capital is at risk

 

USD/JPY Reversal might show up soon

 

6 benefits of trading a Forex system * Your capital is at risk