FaithMight

Tag: $FOREX

  • NZDUSD TO FALL

    NZDUSD TO FALL

    The kiwi has not been doing so well since the beginning of the year. The opening price of NZDUSD in 2024 was 0.63293, and the lowest price this year is 0.58503, in April 2024. The Kiwi’s downtrend had begun in February 2021 at a major resistance level at 0.74759. On the weekly chart, a hammer has been formed at the support level at 0.58503, which has led to a rally from the week of April 15. The current price of the kiwi is at 0.59821.

    The correction in the price of the kiwi has made price rally to the recent high at 0.60495. The USD is beginning to gain against the NZD. Since February 2023 until now, the price of Kiwi has been moving between 0.57784 at the support level to the resistance level at 0.64218. We might see the price of the kiwi fall to 0.59080 in the coming days, as the bulls are beginning to lose momentum.

    Some of these ideas are in our clients’ portfolios. To understand if this one can work for you or for help to invest your own wealth, talk to our advisors at FM Capital Group. Would you like more information on how to get currency in your portfolio? Schedule a meeting with us here

  • UNCHARTED Podcast: Episode 4

    CRYPTOCURRENCY: An overview of the Crypto market
    CRYPTOCURRENCY: Analysis of Bitcoin & Ethereum

    In this podcast episode, we did a general review of markets. First, we extensively discussed Cryptocurrencies. We looked into Bitcoin and Ethereum and the recent stagnation. We also did a forecast of the direction that these major Cryptos may move in the coming months. We touched on Solana and the impact Bitcoin has on all cryptocurrencies. Here’s a forecast on Bitcoin we made some months back.

    CURRENCIES: The Impressive Run of the US Dollar and how Risk-Aversion is contributing to it
    CURRENCIES: Depreciation of world currencies and their reliance on the USD
    CURRENCIES: US Dollar as a Safe Haven, GBPUSD, & NZDUSD
    CURRENCIES: Possible causes for USD rise and Inflation
    CURRENCIES: US Economic Strength and quarter-over-quarter GDP growth
    CURRENCIES: Recession Fears & USDJPY

    We also took a dive into the world of Currencies, specifically the United States Dollar. The Dollar has been dominating the world of currencies. Despite inflation rates being sky high, the Dollar seems to be doing relatively well when compared with other major currencies. We also discussed the Central Banks and their reactions to the inflation their respective countries face.

    COMMODITIES: An overview of Gold & Silver
    COMMODITIES: USD vs Gold, which is the Safe Haven of Choice?

    We closed this episode on Commodities. During times of crisis, it is expected that people will hedge their funds in Precious Metals but this isn’t what we are seeing. Investors are hedging their funds in USD and investors from emerging markets also see USD as a safe haven as opposed to Gold and Silver.

    Some of these ideas are in our clients’ portfolios. To understand if this one can work for you or for help to invest your own wealth, talk to our advisors at FM Capital Group. Would you like more information on how to get stocks in your portfolio? Schedule a meeting with us here.

  • Overbought Positions, Yet USDJPY Price Remains Bullish

    A major Bullish trend began in March 2018. About 800 pips have moved in favour of the USD pushing the $USDJY higher. The USD remains quite strong in 2018. There has been a major break in the uptrend in May, price only moved downwards from 111.149 to 108.412 before the uptrend continued to new highs at 114.488.

    Price action disobeyed the rules of RSI: price has shown overbought positions three times between May and October, and each time the upward movement continued. Could this be the monetary policies made this year, that has favoured the USD? Price is around 112.631 hoping to touch 114.30, which is on the upper band line. Price might begin a downtrend soon but it may touch the upper Bollinger band line before a trace of downtrend. Ichimoku on the daily chart shows no trace of downtrend. We might be expecting 200 pips movement upward.

  • AUDUSD To Gain More Pips Despite A Long Term Downtrend

    It has been a long term downtrend for the $AUDUSD since the beginning of the year. The downtrend is characterized with several lower highs and lower lows. In the last two months, the upward and downward movement of $AUDUSD have been between 300 pips. Price movement tends downwards maintaining the lower part of the Bollinger bands. The USD without argument this year has gained so much against the AUD.

    The RSI has not touched the overbought position since January. Since then, price keeps moving downward without ever reaching the overbought or oversold regions. A breakout occurred off the trendlines and price is yet to touch the Bollinger band middle line. It is about 200 pips reaching this point. The future of Ichimoku shows a long downtrend and no trace of a reversal. The last time $AUDUSD maintained a bullish trend was between December 2017 and January 2018. Ever since a reversal occurred, price of $AUDUSD has been on a downtrend.

  • Price Obeys USDCAD Bullish Movement At Resistance

    The $USDCAD direction has an upward zigzag movement throughout this year. Price has been retesting on the resistance level several times this year. For the most part of 2018, price has been bullish. The USD obviously has been taming the strength of the CAD for some time. The highest price movement of $USDCAD this year has been at level 1.33419. The last time price touched this point was in June 2017. A bearish signal shows through the breakout in the trendlines, which tend to move downwards.

    The Bollinger bands still holds price in the upper region of the bands. A reversal might happen anytime soon, which will make the CAD to gain more leading to a new trend downwards. Since RSI shows no trace of price being overbought, price has been able to touch the upper part of the band before touching the middle band line. Since a breakout occurred from the trendlines, price is meant to touch the lower band line in the coming weeks. As I expect bearish movement to start, this is dependent on sellers of the $USDCAD currency pair. The price of $USDCAD might reach 1.2840.

    Given that price is still 500 pips away from there, this breakout to the downside could also be a fakeout.