A big bearish setup we spotted in EURNZD back in January appears to be now in play. An anticipated Head and Shoulders reversal did not complete but since transformed. However the key feature which is a resistance going back to 2005 remains intact. A trendline break and bearish expansion sends a signal.
A quick look at AUDUSD chart which is now sitting on a significant potential support and with RBA cash rate and statement in mere minutes. Additionally I share an article on Chinese on-the-ground reaction to tariff on US pork imports.
A look at NZDUSD transformation from Head and Shoulders pattern into a Descending Triangle. Importantly the pair is still on track to a high probability reversal.
4-charts. Dot Plot shows FOMC meeting participants’ assessment of monetary policy. Rate hike odds implied from Fed Fund Futures trading.
Straight forward analysis on daily chart appears to offer a clearly low-risk-high-reward proposition to short the DXY. Further analysis offers a different observation altogether. 4 charts that might confound you or paint you a DXY direction that will jump out convincingly.
Screencaps of rate hike probabilities as well as FOMC Dot Plot taken off CME FedWatch Tool. In addition, a list of 3 meeting outcomes that could qualify as a shock to the market i.e. high impact news.
This post follows up two previous observations. A high probability reversal setup spotted in AUDJPY on 25 January 2018 and a similar setup spotted in NZDUSD last week 15 March 2018. AUDJPY is confirmed and moving along nicely while NZDUSD is perched at the edge of confirmation.