Signals Articles

GBPJPY, Rising 5 Wave Sequence?

Forex Analysis
GBPJPY, Rising 5 Wave Sequence?

GBPJPY, 4 Hour

Within the GBPJPY 4 hour chart I am spotting the potential development of a basic Elliott Wave 5 wave sequence.  See (1), (3) and the possible (5?) impulse waves, with the corrective waves being (2) and the possible (4?).

My strategy for this trade consists of two trades broken down in two parts. Trade 1 of part 1 is to short the pair till price is within my “Go Long Zone” (see above chart) 1st target , at that point I will reverse my short trade into a long position (trade 2 of part 2) for a 2nd target within the “Target Zone “ as indicated in the above chart.

Jan 29 GBPJPY SRL

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

USDCAD Expected Price Bounce

Forex Analysis
USDCAD Expected Price Bounce

USDCAD, Daily

The CAD has been gaining strength in recent days as crude oil prices move higher following speculation that oil producers will reduce supplies.  Also, providing some support for the CAD is the fact that the BoC left rates unchanged when the markets were forecasting a cut by 25 basis points.  CAD traders for today should keep an eye on today’s Canadian economic calendar since on tap are the November GDP and Dec Product price Index. Also, keep an eye out for the U.S. Advance GDP q/q data released later today; this could also impact the USDCAD volatility for Friday.

Technically, for the USDCAD I am expecting a price bounce in the wake of the corrective sell off since the pair hit a multiyear high near the 1.4680’s last week.  USDCAD traders may look to enter into long positions within the “Price bounce zone” ((B1) above chart) between 1.3815 – 1.3970, for targets within the “Lower top zone” ((T2?) above chart) 1.4340 – 1.4430.

Jan 29 USDCAD SRL

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

USDJPY Analysis for 01.28.2016

Forex Analysis
USDJPY update

 

USDJPY, Daily

The outflow of funds from China and into safe haven currencies like the JPY has helped to strengthen the Japanese Yen in recent weeks. However, JPY traders may now be beginning to shift attention to market speculation that the Bank of Japan may be potentially seeking further stimulus measures that may add some weakness to the JPY.

Technically, a fibonacci retracement (December High 123.55 – January 20th low 115.90) trade could be in play for projected targets at 119.70 and 120.70. My strategy for short term traders is as long as price can stay above the 118.00 support line to hold long positions for the above fibonacci retracement targets 119.70 (Target 1) and 120.70 (Target 2).

 

 

Jan 28 USDJPY SRL

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

EURAUD Analysis

Forex Analysis
EURAUD update,

 

EURAUD, Daily

Given Mario Draghi’s dovish remarks during yesterday’s press conference about a review of monetary policy, weakness in the EUR has prevailed against higher yielding currencies. The AUD , as a higher yielding currency, should do well against the EUR over the long term. However, there is a risk that the EUR could bounce back in the short term if the current global risk sentiment spikes higher again.

Current price remains within the upward sloping channel line , so I will look for prices to return towards the lower end of the channel before entering any new long positions.

My strategy for the EURAUD pair in the short term is to play the short position for a 1.5180 target ( Target 1) , as trade 1 , ahead of potential support from buyers for a re-entry , trade 2, as a buy order around 1.5090 for a 1.5610 (Target 2).

Jan 22 EURAUD SRL

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

NZDUSD Analysis, Is Global Risk Appetite Driving Kiwi?

Forex Analysis
NZDUSD Update, Is Global Risk Appetite Driving Kiwi?

NZDUSD, Daily

The latest global market theme driving markets is the “risk on – risk off” play. Although I do not like the term “risk on–risk off”, one will find it hard to disagree with the current market “theme”. The recent “risk on–risk off theme” has so far played out well for traders who are playing NZDUSD. As risk appetite swings day-to-day from “on/off”, those NZDUSD traders who are plugged into the current theme are swinging with the NZDUSD from going short (risk on day’s) to going long (risk off day’s) depending on which risk appetite mode the market is in.

My strategy for the NZDUSD, since a double top is spotted from the October and December highs, and that for the short term I believe that the “risk on theme” will prevail before markets start to normalize, leads me with the view to Short the NZDUSD if prices stay below 0.6600 for a target at 0.6260.

Jan 22 NZDUSD SRL

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

EURUSD Drops 100+ Pips as Draghi Reconsiders Polic

Forex Analysis
EURUSD Drops 100+ Pips as Draghi Reconsiders Policy

ECB Update

Mario Draghi does it again and successfully “talks” down the EUR during today’s ECB Press Conference. The EURUSD immediately dropped off around 100+ pips as the ECB President gave a signal that the ECB may extend QE measures in March. Draghi said in the introductory statement that the downside risks that emerged since the start of the year meaning that there is the “need to review and possibly reconsider” the policy stance in March.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

GBPUSD STILL TRENDING LOWER

Forex Analysis
GBPUSD still trending lower

GBPUSD, 240 min

Sterling, which has been under across-the-board pressure, was given a toehold by better than expected UK labour data yesterday. GBPUSD lifted to a 1.4219 high today, which put in a little space from the five-year low that was clocked just ahead of the data release. The unemployment unexpectedly dipped to 5.1% y/y in November, down from 5.2% at the previous reading and the lowest since August 2005. This takes the jobless rate farther below the BoE’s non-accelerating inflation rate of unemployment (NAIRU) at 5.5%, though the average household income in the three months to November ebbed to 2.0% y/y from 2.4% y/y in the previous month. The data follows dovish guidance from BoE’s Carney, who yesterday said that now wasn’t the right time to tighten policy, but should help the pound find a footing after a period of pronounced underperformance.

On technical side the pair still looks weak. GBPUSD has dropped some 150 pips since my Tweet on the pair and has passed beyond my target. Important weekly support levels are not far away with the first one being at 1.4100 but this shouldn’t stop us from looking to sell the rallies as long as the market stays in a down trend. The 1.4232 – 1.4252 area has technical significance as it has a small Fibonacci cluster, a resistance level and 30 period SMA coinciding while the upper end of the bear channel isn’t that far either. If market rallies further the next potential level for short trades is between 1.4280 and 1.4300. We look for a rally to either of these levels and then sell signals to trigger short trades. Targets are: 1.4125 (T1) and 1.3850 (T2).

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

USDCAD Analysis for 01.20.2016 , Can the Pair Keep Moving Higher?

Forex Analysis
USDCAD Update, Can the Pair Keep Moving Higher?

USDCAD, Monthly

Looking at the longer term USDCAD chart (monthly) it is clear that prices have been in a very aggressive bull market for the last few years. The question going forward for traders is: when will this trend stop?

For the moment, the CAD continues to track the current oil price decline and since it is still unknown as to when the Oil sell-off will halt it’s decline, I’m not going to bet against the upward momentum of the USDCAD until clearer signs of a price reversal pop up.

Technically, USDCAD bullish momentum remains in overextended territory, in theory prices can remain overextended for very long periods, so I will discount the Stochastic for my monthly chart analysis and resort to the Fibonacci levels for price targets. The Fibo extension levels from March 2009 highs (1.3060) to the July 2011 low (0.94) price suggest that the current bullish momentum could take the USDCAD towards the 1.5280 (161.8% Fibo).

Jan 20 USDCAD SRL

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

CRUDE OIL HIT TARGET 1 YESTERDAY

Forex Analysis
Crude Oil hit Target 1 yesterday

Crude Oil, 240 min

I wrote  about hedge funds doubling their short term bets in oil and said: Market is trending lower which is a reason to look for low risk selling opportunities. Potential short entry levels are: 29.94, 30.72 and an area at 31.42-32.10. We are interested in shorts if market hits these levels and provides us with sell signals.  The market being in the downtrend it makes sense to have both a short term target (Target 1) and a target that is a bit further away. My targets for WTI crude are: Target 1: 28.88 and Target 2: 25.20

Market rallied to $29.94 and gave us a sell signal yesterday during the European session. The T1 at $28.88 was hit three hours later while the T2 at 25.20 is still a valid target.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

NZDUSD Analysis for 01.19.2016 , SHORT TERM PRICE TO BOUNCE HIGHER

Forex Analysis
NZDUSD Update, Short Term Price to Bounce Higher

NZDUSD, 4 Hour

The macro backdrop for the Kiwi (NZD) remains bearish with recent data showing weak credit card retail sales in New Zealand, along with the risk off global sentiment that kicked off the start of the year, the currency has been kept under pressure.

My expectation for the short term is that the NZD may attempt a short term price move higher since the NZDUSD price bounced higher at the 76.4% Fibo retracement level. This price bounce higher leaves me with the view that global risk taking might be attempting a switch back on. My conclusion supports long positions for a price target at 0.6540.

Jan 19 NZDUSD SRL

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.