DXY - Update Friday 15th, August, 2014

DXY - Update Friday 15th, August, 2014

Daily Chart

• This contradicts my forecast earlier in the week of potential dollar weakness from last weeks price action. Earlier Mid week we did see short lived dollar weakness and capitalized on the move., However as week ends, price is holding quite well in this zone, (broken resistance which now becomes support) and oscillators are giving buy signals
• Therefore perhaps the case builds to upside potential favours

Tips -

Always take note of any economical news event on our provided calender below

EURNZD Position Trade for 2014-2015

EURNZD Position Trade for 2014-2015

Weekly Chart

• After 4 consecutive years of the down trend, last year in 2013 we saw a bullish momentum take place
• Broke out from a bearish wedge formation in 2013
• In 2014, prices has retraced back towards a possible forming upward trendline / near lows of 2012 and 2013
• A bullish bat pattern also signals possible reversal pattern

Daily Chart

• Ascending MACD Oscillator broke through above the 0 line after reacting from the PRZ of the weekly bat pattern

Outlook Trade opportunity

Long at around the most recent upward swing fib 38.2 - 50 level, with stops either at the 2013 low OR the low of 2014


At least aim for a 2:1 Reward to risk

Risk Level - LOW

Tips -

Always take note of any economical news event on our provided calender below