Don’t Be Pigeon Holed

From Craig Cobb at Trade with Precision: With over 9000 products to trade through CMC Markets it can be a little overwhelming to decide on what exactly you are going to trade. Often people will stick to one market like ASX stocks or FX, some people even just trade one single product such as gold […]

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Chart Signals – Wed, August 5

Asia Pacific indices Australia 200 is bumping up against 5,720 where a breakout would complete an ascending triangle and signal a new upleg that could test 5,790 Fibonacci resistance. Support in the 5,655 to 5,670 area at a Fibonacci cluster. Japan 225 has rallied up off of 20,430 support rising toward 20,540 but it still […]

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Chart Signals – Weds, July 29

Asia Pacific indices Australia 200 continues to climb up off a higher low near 5,500, clearing 5,600 and driving on toward 5,625 with next potential resistance at a Fibonacci cluster in the 5,655 to 5,670 zone then 5,720. RSI back above 50 confirms momentum turning upward. Japan 225 is bouncing around between 20,000 and 20,500 […]

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Chart Signals – Tuesday, July 28

Asia Pacific indices Australia 200 is trading near 5,555 as it bounces around in a channel between 5,400 and 5,725. RSI bouncing around 50 confirms sideways momentum. Initial support and resistance near 5,540 and 5,570. Japan 225 has fallen to within striking distance of 20,000 and 19,925 a 23% retracement and channel bottom while resistance […]

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Sell an “M” Reversal in USD

Conventional wisdom is that the USD will continue to strengthen as the first Fed rate hike approaches. However: Markets rarely go anywhere in a straight line The US Dollar index is up 4% over the last 5 weeks, and more than 20% since February 2014 Some of the most profitable technical trades go against the […]

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Chart Signals – Friday, July 24

Asia Pacific indices Australia 200 continues to retreat within its 5,400 to 5,700 trading channel falling toward the midpoint and Fibonacci support near 5,555 with its next downside tests after that near 5,500 then 5,445. RSI testing 50 where a break would confirm the downturn. Japan 225 is holding steady near 20,600 but with resistance […]

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Chart Signals – Thursday, July 23

Asia Pacific indices Australia 200 continues to fall away from 5,700 having taken out 5,655 support and dropping toward 5,600 while RSI suggests a downturn pending within a broader sideways channel. Next potential support on a breakdown near 5,555 then 5,500. Japan 225 found some support near 20,530 and has bounced back up toward 20,690 […]

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Counter-intuitive Kiwi

The US Fed will raise interest rates at some time this year, right? The RBNZ will cut rates tomorrow. Right? US economic growth is accelerating, and NZ decelerating. So NZD/USD still has a lot further to fall? Not necessarily. One reason to take a contrarian approach to trading is the potential for superior reward to […]

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Chart Signals – Weds, July 22

Asia Pacific indices Australia 200 has slipped back under 5,700 after encountering resistance near 5,725 but remains above a Fibonacci support cluster in the 5,655 to 5,670 zone. RSI suggests upward momentum levelling off for now. Japan 225 has rolled down from 20,860 toward 20,680 setting a lower high in the process. RSI also rolling […]

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Chart Signals – Tuesday, 21 July

Asia Pacific indices Australia 200 is breaking out today, clearing 5,700 to complete a base and signal an upturn with next potential resistance near 5,790 a Fibonacci level. RSI above 50 and rising confirms upward momentum accelerating. Japan 225 continues to drive back up toward the top of its 19,925 to 20,980 trading channel, currently […]

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