All posts by Nenad Kerkez

USDJPY: Range Bound Trading Continues

Nenad Kerkez

As I already stated a couple of times, USDJPY is range bound with a bit more buying into dips. Presumably it is done by institutional traders as we can see from the chart. Scholastic example of double bottom vs V shaped reversal spike the pair up close to 120.00 level. Interim resistance zone lies at 120.00-10 ( channel top + H3 ) and we could see some selling towards 119.40 which is important support. more…

USDJPY: Bearish Pennant In Progress

Nenad Kerkez

USD has recovered to some extent after bad NFP result mostly by rising of US yields and general USD sentiment. Technically we can spot a huge bearish pennant on H4 chart with a clear range in between. Adding to that we can see that MACD is going sideways and histograms are very small which indicates that the pair is stuck in a range with no momentum. more…

EURGBP Should Proceed Lower

Nenad Kerkez

EURGBP has broken through important trend line and it has made another leg down. The pair I showing bearish movement on H4 timeframe, and there is a possibility of yet another retest of 0.7190 zone. We can see that trend line has been broken effectively becoming an inner trend line which gave the pair additional momentum to the downside. more…

USDCHF Buy Into Dips

Nenad Kerkez

While we are patiently waiting for FOMC meeting we need to know that interest rate differential between US and Switzerland definitely favors the dollar. Having a record unemployment rate at 5.1 % FOMC is a step closer to rate hike and recent Yellen comments suggested that China turmoil had no significant impact on FED’s plans about the hike. more…

EURUSD Is Bullish Above 1.1260

Nenad Kerkez

If you remember my past articles about EURUSD on 25.AUG I warned that 1.1255 is crucial for EURUSD upside. EURUSD dropped mainly because of Chinese equity markets, Shaghai index and EUROSTOXX50 futures especially at London open. Some hawkish comments about possible rate hike also gave boost to USDx which additionally lowered the pair. Yesterday we saw 2 rejections from 1.1260 each for 50+ pips and finally 1.1260 level was broken again. PMI rose to 53.3 from 51.8 and it better then preliminary estimate. more…

GBPUSD Is Bullish Above 1.5620

Nenad Kerkez

GBPUSD has been trading inside an equidistant channel which supports the uptrend zig zag. The price has been making higher highs and higher lows which is showing us a scholastic example of uptrend. At 78.6 fib – deeper retracement there is a strong confluence with equidistant channel lower trend line so the price might get a bounce in the zone ( 1.5670-85 ) and try another push toward 1.5740 and 1.5780. That being said if the price gets H4 close above cam H4 level ( 1.5780 ) it will target 1.5855 the confluence spot of H5 and upper equidistant channel. more…