Foreign Exchange

Here’s a quick follow-up on our previous analysis of GBP/CAD after a second bearish pattern has formed below key resistance. On the 13th September we outlined GBP/CAD’s potential for a large drop, based upon an established bearish channel and 10-week declines within it. The bearish channel not only remains intact but has also been reinforced by another dark cloud […]

USDJPY is consolidating near the August highs ahead of tomorrow’s BOJ meeting. And with the rolling correlation between Nikkei and USDJPY rising, we’ve taken note of Nikkei’s bullish breakout today. Faraday Research offers real time FX and Equity trade signals from qualified analysts. Click here to try us free.

Here’s the market outlook for the week: EURUSD Dominant bias: Neutral The bias on EUR/USD has essentially turned neutral, as price has not made any significant upwards or downwards movement in the last several trading days. There is a resistance line at 1.1750, and there is a support line at 1.1500. Either the resistance line […]

TIMELY EXIT “Successful Trading Is Not About Being Right.” – VTI What is your tolerance for pain? Consider the following scenario. You have 10% of your account balance on the line. For the past two days, prices have been going in the direction you had anticipated, but today, an announcement was made that caused a […]

GOLD (XAUUSD) Dominant Bias: Bearish Gold is a bear market. In August price dipped by over 6000 pips, reaching around the support level of 1160.00 (a support level). From there, price moved upwards by 5000 pips and then moved sideways till the end of the month. All this happened in the context of a downtrend; […]

Since our prior analysis the index has broken to new highs. Given its tidy retracement towards key support, those new highs may just be short lived. Just coming off from its highs, the trend remains undeniably bullish. Whilst the recent burst higher became a little overextended above its Keltner band, a retracement has since respected key support around 1267.23-1272.87. […]

At the back end of last year, we wrote an Insight entitled ‘Binary Brexit stuns Sterling’ and how choppy sterling ‘has become on an intra-day basis’. Not much has changed it seems… Fast forward to yesterday afternoon when sterling was looking decidedly gloomy. Cable had traded below 1.28 and reality was starting to bite as Parliament was gathering after […]

CHF/JPY may not be the immediate choice for a speculative trade but, with it displaying such a directional move, we think it’s worthy of a look. We can see on the daily chart that a bullish breakout occurred last week, taking it to a six-month high. Although there were two minor attempts to break 113.26 […]

Since our previous USD/CHF post, the pair broke to new lows in a seemingly direct route. We raised the potential for a 300-point drop and our bearish view remains whilst we trade beneath the 0.9788-0.9808 resistance zone. If successful, it could reach for the 0.9526/34 lows, although a correction needs to play out first. Stalling above 0.9650, the rebound […]

A bullish hammer on the weekly chart, its failure to test its lower channel and an increase of bullish momentum suggests USD/CAD could be on the verge of breaking its corrective channel. Faraday Research offers real time FX and Equity trade signals from qualified analysts. Click here to try us free.