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Technical Analysis

AUDUSD Weekly MACD Green Line Flattening


The AUDUSD consolidated yesterday after soaring more than 70 pips Wednesday, and appears close to resuming its rally.  Significantly, the current green weekly candle has decisively broken above a 3 month downchannel resistance (on the weekly chart), making last week's break below upchannel support (on the weekly chart) increasingly appearing to be a false sell signal.  The weekly and daily RSI, Stochastics and MACD are bottomish or rallying.  I am long at .7672 as of today, targeting the red zone for early next week.  The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I set my stops tighter).

AUDUSD Weekly/Daily/4hr



Click here for today's technical analysis on Litecoin (LTCUSD), Ripple (XRPUSD)

 

Tradable Patterns was launched to demonstrate that the patterns recurring in liquid futures and spot FX markets can be analyzed to enhance trading performance. Tradable Patterns’ daily newsletter provides technical analysis on a subset of three CME/ICE/Eurex futures (commodities, equity indices, and interest rates), spot FX and cryptocurrency markets, which it considers worth monitoring for the day/week for trend reversal or continuation. For less experienced traders, tutorials and workshops are offered online and throughout Southeast Asia.

 

This article is from Tradable Patterns and is being posted with Tradable Patterns’ permission. The views expressed in this article are solely those of the author and/or Tradable Patterns and IB is not endorsing or recommending any investment or trading discussed in the article. This material is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

 


 


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Technical Analysis

AUDUSD Breaks 3 Month Downchannel Resistance


The AUDUSD soared more than 70 pips yesterday leading into and following the FOMC and highly anticipated Fed 25 bps rate hike.  Significantly, yesterday's rally together with the previous 2 green daily candles have formed a powerful green weekly candle that has broken above a 3 month downchannel resistance (on the weekly chart).  Last week's break below upchannel support (on the weekly chart) is increasingly appearing to be a false sell signal, particularly as the weekly MACD green line begins flattening.  The weekly and daily RSI, Stochastics and MACD are bottomish or rallying.  I am flat after profitably closing a long yesterday and am looking to re-enter long in the green zone (of the daily chart), targeting the red zone for early next week.  The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I set my stops tighter).
 
AUDUSD Weekly/Daily/4hr
 
 
 
Click here for today's technical analysis on GBPUSD, AUDJPY
 

Tradable Patterns was launched to demonstrate that the patterns recurring in liquid futures and spot FX markets can be analyzed to enhance trading performance. Tradable Patterns’ daily newsletter provides technical analysis on a subset of three CME/ICE/Eurex futures (commodities, equity indices, and interest rates), spot FX and cryptocurrency markets, which it considers worth monitoring for the day/week for trend reversal or continuation. For less experienced traders, tutorials and workshops are offered online and throughout Southeast Asia.

 

This article is from Tradable Patterns and is being posted with Tradable Patterns’ permission. The views expressed in this article are solely those of the author and/or Tradable Patterns and IB is not endorsing or recommending any investment or trading discussed in the article. This material is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

 

 


15708




Technical Analysis

USDCAD Consolidating Ahead of FOMC/Rate Decision


The USDCAD consolidated again yesterday just below the October and November high, and is expected to continue today within a tight range as the market begins anticipating the FOMC at 2pm EST and its rate decision.  Significantly, the USDCAD appears to be in the late stages of an Inverse Head & Shoulders (on the weekly chart), and is particularly bullish longer term with the neckline (that began July) tilting upwards.  This neckline coincides roughly with the psychologically key 1.3 whole figure level, along with what could be downchannel resistance (on the weekly chart).  As a result, resistance at 1.3 will be stiff, and will likely hold for the balance of the year.  The weekly and daily RSI and Stochastics are tiring, suggesting bulls will be cautious today ahead of the FOMC especially after strong gains since September.  I am looking to go long in the green zone (of the daily chart) following the FOMC, targeting the red zone ahead of Friday.  The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I set my stops tighter).
 
USDCAD Weekly/Daily/4hr
 
 
 
Click here for today's technical analysis on BTCUSD, ETHUSD
 

Tradable Patterns was launched to demonstrate that the patterns recurring in liquid futures and spot FX markets can be analyzed to enhance trading performance. Tradable Patterns’ daily newsletter provides technical analysis on a subset of three CME/ICE/Eurex futures (commodities, equity indices, and interest rates), spot FX and cryptocurrency markets, which it considers worth monitoring for the day/week for trend reversal or continuation. For less experienced traders, tutorials and workshops are offered online and throughout Southeast Asia.

 

This article is from Tradable Patterns and is being posted with Tradable Patterns’ permission. The views expressed in this article are solely those of the author and/or Tradable Patterns and IB is not endorsing or recommending any investment or trading discussed in the article. This material is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

 

 


15692




Technical Analysis

USDCAD Weekly Chart Inverse Head & Shoulders Trying to Complete


The USDCAD consolidated again yesterday just below the October and November high, and is expected to continue today within a tight range as the market begins anticipating the FOMC Wednesday at 2pm EST and its rate decision.  Significantly, the USDCAD appears to be in the late stages of an Inverse Head & Shoulders (on the weekly chart), and is particularly bullish longer term with the neckline (that began July) tilting upwards.  This neckline coincides roughly with the psychologically key 1.3 whole figure level, along with what could be downchannel resistance (on the weekly chart).  As a result, resistance at 1.3 will be stiff, and will likely hold for the balance of the year.  The weekly and daily RSI, Stochastics and MACD are bottomish, rallying or consolidating recent gains.  I am looking to go long in the green zone (of the daily chart) targeting the red zone ahead of the FOMC.  The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I set my stops tighter).

USDCAD Weekly/Daily/4hr


Click here for today's technical analysis on USDCHF, AUDJPY


Tradable Patterns was launched to demonstrate that the patterns recurring in liquid futures and spot FX markets can be analyzed to enhance trading performance. Tradable Patterns’ daily newsletter provides technical analysis on a subset of three CME/ICE/Eurex futures (commodities, equity indices, and interest rates), spot FX and cryptocurrency markets, which it considers worth monitoring for the day/week for trend reversal or continuation. For less experienced traders, tutorials and workshops are offered online and throughout Southeast Asia.
 
This article is from Tradable Patterns and is being posted with Tradable Patterns’ permission. The views expressed in this article are solely those of the author and/or Tradable Patterns and IB is not endorsing or recommending any investment or trading discussed in the article. This material is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.


15672




Technical Analysis

AUDJPY Trying to Reclaim Weekly Chart Ascending Wedge Support


The AUDJPY bounced Friday and continues trying to form a short-term bottom after 3 months of sliding lower.  Bears will take delight that it's broken below ascending wedge support (on the weekly chart).  What often happens though is following such a key support break, a market will want to rally back above support (typically for at least several days) before forming a lower high and caving to lower lows.  With the Australian dollar strengthening and the Yen showing more weakness to start the week, the AUDJPY is a candidate today for more upside.  As RBA governor Lowe speaks Tues at 515pm EST, any bullish move today/tomorrow will likely stall by the time of his comments.  Except for the weekly MACD whose green line still slopes down, the weekly and daily RSI, Stochastics and MACD are bottomish, rallying or consolidating recent gains.  I am looking to go long in the green zone (of the daily chart) targeting the red zone for Wednesday.  The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I set my stops tighter).
 
AUDJPY Weekly/Daily/4hr
 
 
Click here for today's technical analysis on AUDUSD, GBPJPY
 

Tradable Patterns was launched to demonstrate that the patterns recurring in liquid futures and spot FX markets can be analyzed to enhance trading performance. Tradable Patterns’ daily newsletter provides technical analysis on a subset of three CME/ICE/Eurex futures (commodities, equity indices, and interest rates), spot FX and cryptocurrency markets, which it considers worth monitoring for the day/week for trend reversal or continuation. For less experienced traders, tutorials and workshops are offered online and throughout Southeast Asia.

 

This article is from Tradable Patterns and is being posted with Tradable Patterns’ permission. The views expressed in this article are solely those of the author and/or Tradable Patterns and IB is not endorsing or recommending any investment or trading discussed in the article. This material is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

 

 
 

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