Chart of the Day:
Speaking of tonight’s ECB meeting, let’s have a look at some more charts. In Tuesday’s blog we looked at some of the Euro expectations that markets might have heading into the meeting, so keep this in mind while reading today’s post.
Chart of the Day:
DAX30 Daily:
With a fundamental driver backing up the technicals on the charts, this level is well and truly in play heading forward from here.
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Chart of the Day:
With the monetary policy statement and press conference out of Japan really kicking things off tomorrow during Asia, I wanted to take a deeper look at the USD/JPY bigger picture.
A couple of weeks ago in the headlines and correlations blog, we featured USD/JPY as our chart of the day. The angle of that post was comparing the pair with the S&P 500 but the technicals are the same.
Chart of the Day:
With the topical AUD/USD and USD/JPY charts used in yesterday’s Central Banks’ Right of Reply blog, we have to move to the crosses today to find our key levels.
In the technical context of the above commodity prices, taking a contrarian view on the Aussie up here wouldn’t be a terrible play.
Chart of the Day:
So what does all that mean for the US Dollar on the charts?
I’ve been speaking about some possible divergence between market expectation and actual pricing when it comes to the Fed’s next interest rate hike, but it seems I was too optimistic, too soon.
Chart of the Day:
Following up from our early week look at the AUD/JPY chart, today’s Yen themed blog moves across to EUR/JPY.
Chart of the Day:
With the first major market moving event of the week on the forex calendar coming tomorrow as the RBA Governor Glenn Stevens delivers a speech to the ASIC annual forum, we take a look at the Aussie Dollar as today’s chart of the day.
AUD/USD Daily:
Chart of the Day:
I know that the AUD/USD weekly chart doesn’t change much and I include it in my blogs a lot, but I couldn’t publish the above hourly chart without the higher time frame context that the weekly provides.
AUD/USD Weekly:
Chart of the Day:
The British Pound was the major loser overnight following the Brussels attack, as speculation that Brexit campaign momentum will now increase.
With immigration and what to do with the influx of refugees and economic migrants front and centre of British politics when it comes to staying in the EU, any events that add to the argument against immigration and the free movement of people throughout European borders just adds fuel to the Brexit fire.
Not to mention last night’s GBP inflation number continuing to underwhelm:
“GBP CPI y/y (0.3% v 0.4% expected)”
The BoE just can’t raise rates while inflation prints these sorts of numbers over and over. Add this to the terrorism/migration headlines that we are going to continue to see printed front and centre and the Pound is likely to stay under pressure.
So what about the charts?
GBP/USD 15 Minute:
Chart of the Day:
The one Forex chart that has caught my eye is the Kiwi.
NZD/USD Weekly:
Chart of the Day:
Following yesterday’s Kiwi in play, chart of the day, I encouraged you guys to get involved with sharing your charts on Twitter. I’m really proud of the active online trading community that we’re building with @VantageFX and want to thank everyone that got involved in yesterday’s NZD/USD discussion.
There was a great mix of ideas on how to trade the Kiwi from both the long and short side which is exactly what makes the markets we trade.
We’re going to try to make #TuesdayFX a weekly thing from now on, so give @VantageFX a follow and come get involved!
EUR/NZD Daily:
Chart of the Day:
As for the Kiwi, this was my main scenario that I have been looking for this week:
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Chart of the Day:
On NFP Friday, it’s smart to do an overview of both the US Dollar as well as the S&P 500. But having done the S&P a couple of times this week already, lets mix it up a little and take a look at trading Gold.
GOLD Weekly:
Chart of the Day:
Lastly for your Monday morning, Republican presidential front-runner Donald Trump has spoken to the Washington Post and predicted that the United States is on course for a “very massive recession”.
“I think we’re sitting on an economic bubble. A financial bubble.”
Although the comments were as vague as you’d expect from a politician, unemployment and ‘overvalued’ stocks were cited by the big man.
“It’s a terrible time right now to invest in the stock market.”
S&P500 Weekly:
Chart of the Day:
These Aussie feature blogs seem to always have AUD/JPY as my go to ‘alternate’ currency pair and the trend continues today. The trend is your friend, as they do say!
AUD/JPY Daily:
Chart of the Day:
Yesterday we featured AUD/JPY and once again it was the higher time frame resistance level that won out over short term support. I encourage you to go back over your charts and look at the amount of times you have the choice between trading a short term level against what the larger time frame charts are telling you, and to see what would have happened. Higher time frames are king!
In today’s chart of the day, lets just look at how we can go about trading this Yen strength that we’ve spoken about throughout the blog.
USD/JPY 15 Minute:
Chart of the Day:
The FOMC Minutes also coincided with the 110 level in USD/JPY failing.
USD/JPY 15 Minute:
Chart of the Day:
One for the Commodities traders on our book with a look at Oil.
OIL Daily:
Chart of the Day:
Threat of stimulus from Japanese PM Abe is helping USD/JPY kick out of the zone marked in today’s Daily Market Update:
Plenty more charts in the Vantage FX Daily Market Update!
Chart of the Day:
The mother of all bull markets.
The intra-day chart shows just well the price action respected the technicals on the breakout.
Check out all today’s SP500 chart analysis in the Vantage FX Daily Market Update
