NZDUSD – How Much Lower Will It Go?

  (Click on image for larger view) Looking at the chart above, the NZDUSD has been making dramatic lower lows. As the USD continues to strengthen, more majors are moving in one direction, and this one in particular is moving aggressively. As price is now testing the long term support (~0.664), I’m looking to see…

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NZDUSD – Finding a Long Entry At a Retest?

(Click on image for larger view) Hi Traders, Here’s the latest market update. In fact, I’m testing out this format, so please let me know if you prefer a commentary like this or if you prefer the short and simple commentaries that I’ve done in the past – see older posts. The Big Picture The…

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Weekly Commentary: 17th August 2014

Previous weekly commentary: Commentary on 10th August 2014 Hello Traders, This week was pretty much a quiet week as the USD index closed around $81.40 for the third week. I suspect this is going to be another case of having the calm before the storm. Looking at price action, price gave us an inside bar.…

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Weekly Commentary: 20th July 2014

Previous weekly commentary: Commentary on 13th July 2014 Hello Traders, Since the sideway market last week, the USD index had been crawling higher and closed the week around $80.60 and it was generally a sideway market – which isn’t much compared to last week. For a good confirmation of an uptrend, I need to see…

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Weekly Commentary: 29th June 2014

Previous weekly commentary: Commentary on 22nd June 2014 Hello Traders, The USD index is finally moving lower. As mentioned last week, the market is testing the $81 resistance but the move lower is a healthy sign. My guess is that it will test the $79 level and if it breaks below it, the dollar will…

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Weekly Commentary: 8th June 2014

Previous weekly commentary: Commentary on 1st June 2014 Hello Traders, The market is full of surprises and you get a mixed of signals once in awhile. Looking at the USD index, even though I thought that price was about to move higher, price gave me different signal. Nonetheless, the bigger picture still holds and price…

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Weekly Commentary: 1st June 2014

Previous weekly commentary: Commentary on 25th May 2014 Hello Traders, This USD Index closed around $80.40. As mentioned last week, I need price to break above the $80.80 price level for a more bullish bias. Looking at the weekly bar, price action gave us a doji bar, and that is a good indication that price…

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Weekly Commentary: 11th May 2014

Previous weekly commentary: Commentary on 4th May 2014 Hello Traders, It was an interesting week. As mentioned in previous weeks, I was looking for price to test the $79 level. While the USD Index did touch the $79 mark, it tested the level and bounced off it. It was a big turn around on Thursday…

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Weekly Commentary: 27th Apr 2014

Previous weekly commentary: Commentary on 20th Apr 2014 Hello Traders, The USD Index continues with its uncertainties. As much as I want to see more movements in the USD, there isn’t much going on. The only consolation I have is that many of the majors have decoupled – to a certain extend of course. With…

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Weekly Commentary: 13th Apr 2014

Previous weekly commentary: Commentary on 6th Apr 2014 The USD Index tanked this week. This was a good reminder because that’s part of trading and you don’t get it right all the time. Looking at the weekly chart, price dropped with momentum, giving me an engulfing bar and closing back around $79.50. Will price drop…

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