Tag Archives: Nenad Kerkez

GBP/NZD Close To The Top Of The Equidistant Channel

Nenad Kerkez

The GBP/NZD has formed a bearish equidistant channel, but recent news gave the push in bullish momentum and the price might reverse. The zone to watch is 0.7560-80 (Channel top, ATR high, EMA89, D H4). Traders should watch for any reversal or continuation patterns within the POC zones. A bullish continuation pattern within the zone might push the price further towards the D H5 at 0.7653 while a bearish reversal pattern could drop the price towards D H3 and L3 – 0.7490 and 0.7370. The GBP/NZD is a very volatile pair and because the price is already at its extremes we might see a short term rejection from the POC soon and that could provide some short term trading opportunities. more…

AUD/USD Slow Zig-Zag Towards 0.7580

Nenad Kerkez

As we could see on yesterday’s Live Trading webinar, straight after our live trading session, the AUD/USD has rejected and made pips in the bearish direction. That was a counter trade opportunity we had, but today the AUD/USD might proceed with the trend. The POC zone is 0.7510-20 (D L4, ATR pivot, bullish order block, EMA89) and if we see a retracement, the pair might reject from the POC zone targeting H3 and H4 camarilla pivots. 1 hour candle close above 1.7568 might target 1.7586 and further 0.7617 on a stronger momentum push. Have in mind that the ATR (range) of the pair is small, only 57 pips so 0.7580 zone is looking more realistic should the bullish momentum prevail. more…

USD/JPY Bearish X-Cross Within 111.20 Zone

Nenad Kerkez

The USD/JPY has been dropping lately, but it has been more of a slow grind than momentum surge. During this slow grind, the price has established a POC zone within 111.15-30 (D H4, 38.2, inner trend line, EMA89, ATR Pivot). X-Cross ™ represents the cross of a trendline with an important pivot point or fib level. In this example we have both fib level and a camarilla pivot, so my assumption is that the X cross is strong. Rejections should aim for 110.65. Break of 110.65 aims for 110.36 and 110.17. more…

AUD/USD Bullish Wicks Mark New Wave Of Buyers

Nenad Kerkez

The AUD has been rebounding of late, with stronger Employment numbers for the month and a reduction in the Unemployment Rate to 5.7% as it approaches full employment. Interestingly, the MI Inflation target is 4% for the next 12 months, which may signal rate hikes in the near future. USD weakness continues, and the USD Index looks destined a bit lower, with lower manufacturing numbers, but with all other indicators relatively stable, the concerns lie with whether Trump can now deliver on his Tax cut promises for the next boost to the US economy. more…

USD/CAD Contracting Triangle In Uptrend

Nenad Kerkez

The USD/CAD has formed a contracting triangle in the uptrend, signalling for a potential retracement. At this point traders should pay attention to two possible breakout points. A breakout to the upside could happen at the break of 1.3742 level (D H3 and Upper triangle trend line) while a breakout to the downside could happen if 1.3695 breaks (D L3 and Lower triangle trend line). The point where trend lines cross camarilla pivot point is called an X Cross. Target for the upside breakout is 1.3800 while the target for the downside breakout is 1.3635. more…

EUR/GBP Rounding Bottom Uptrend Continuation

Nenad Kerkez

The EUR/GBP has formed a rounding bottom shaped pattern at the support and is rejecting from W H3 camarilla pivot. 0.8435-50 is POC zone (D L3, ATR pivot, EMA 89, 50.0, trend line) and rejection from POC could target 0.8510. Have in mind that if target is reached, the pair could possibly spike to 0.8550 during next few days. This bullish scenario is negated if the pair drops and stays below 0.8400, rounded bottom low. more…

EUR/JPY Huge Marubozu After French Elections

Nenad Kerkez

The EUR/JPY had formed a huge marubozu candle (purple highlight) on 4h time frame after it was announced that Emmanuel Macron won the first round of the French presidential elections. If you followed my Price Action Trading School, than you should know that marubozu candle appears during high momentum in the market. Equities and EUR/USD went bullish, especially CAC40 as I predicted and analysed in the blog post before the elections. more…

GBP/USD Bullish Cup With Handle Formation

Nenad Kerkez

The GBP/USD has formed a cup with handle pattern on H1 timeframe, suggesting further upside. W H4 camarilla is acting as support as the price broke above it, and it forms a clear handle at the brim of a cup. 1.2480 might spike the price to the upside, targeting D H3 H4 and H5 levels respectively, -1.2516, 1.2538, and 1.2580. If the price breaks below the handle, look for possible POC (D L3, double bottom, ATR pivot) 1.2425-45 rejection. more…

USD/JPY De-Risking Ahead Of Trump-Xi Meeting

Nenad Kerkez

As shown on Live Trading Session yesterday, the USD/JPY fell as expected due by overnight sell off in equities. Equities dropped due to de-risking ahead of Trump-Xi meeting, so we might see another bearish rejection on retracement. The POC 110.80-95 ( D H3, EMA89, ATR Pivot, trend line) could reject the price towards 110.18. Break below it should target 109.77 – the strongest daily support. more…