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Published on Sep 14, 2016
The
EUR/USD pair continues to bang around in the 1.1250 region, which is
essentially the middle of the larger overall consolidation area. Because
of this, I still don’t have any real interest in trading this market,
and therefore will be sitting on the sidelines. However, I would point
out that the 1.1150 level below is massively supportive, while the
1.1350 level above is massively resistive. If we can break out of this
area, that would be a very nice opportunity to take a trade. In between
this area though, I simply think that is going to be far too choppy to
waste any real money on a trade. With this, I am on the sidelines at the
moment.
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USD/JPY and NZD/USD Forecast September 15, 2016
Published on Sep 14, 2016
Initially,
the USD/JPY pair rose during the course of the day on Wednesday, but
turn right back around to form a shooting star. The shooting star of
course is a very negative candle, so I feel that the market will
probably grind its way a little bit lower from here. However, I do
recognize is somewhere near the 101 level there is a very strong support
level, and most certainly down at the 100 level below there. I think if
you are going to sell this pair, and I would be the first to say that
I’m not going to, you have to take your profits fairly quickly. On the
other hand, if we break above the top of the shooting star that would be
very positive sign as we would reach towards the 105 level at that
point.
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