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Cerebro1
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I am currently working as a Market Analyst at the Trinidad and Tobago Unit Trust Corporation. I was previously responsible for the TTUTC Universal Retirement Fund. I am a graduate from the University of the West Indies with a Bsc. in Actuarial Science. I am currently completing the CMT... More
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  • GBPNZD Intraday Analysis

    GBPNZD broke the downward trend line with pivots 1.94484 on 11th April 1:15 am and 1.93763 on 14 April 8:30 am. Although it was recently done on a long green candle, bearish divergence on the Commodity Channel Index suggests that the break in the downward trend line is short lived. It is recommended that traders take a short position on GBPNZD at market (1.93345) with a stop at 1.93763 and targeting 1.92743, a 1.48 reward risk ratio.

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    Tags: GBPNZD
    Apr 15 6:17 AM | Link | Comment!
  • NZDJPY Intraday Analysis

    After exhibiting a 5 wave impulse move beginning 10th April 1:45 am at 89.247 with an evening star formation and ending on 11th April 1:15 am with a hammer at 87.656, NZDJPY appears to be ending a 3 wave corrective wave. The price is currently trading near resistance and also near the 50% Fibonacci retracement of the previous impulse wave (around 88.45).

    Estimates suggest that these 2 patterns are the beginning of a 5-wave impulse pattern of 1 larger degree of a 3-wave zigzag pattern of 1 larger degree. As such a target of 87.86 can be set based on these estimates as wave A = wave C or wave 3 is not the shortest wave. Also given the bearish divergence on the RSIs as well as the Commodity Channel Index is at overbought levels it can be recommended to place a short on NZDJPY at current levels (around 88.31), with a stop at 88.50. With a target of 87.86, this gives a reward-risk ratio of 2.44.

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    Tags: NZDJPY
    Apr 14 11:29 AM | Link | Comment!
  • GBPJPY Intraday Analysis

    GBPJPY seems to be facing another set of level of resistance. After facing resistance at the 171 price level, GBPJPY corrected lower, to the 169.53 price level, a 0.86% decline. From there GBPJPY attempted to break above the 50% Fibonacci retracement of the previous decline and failed. GBPJPY then retested the support zone, which held. GBPJPY is again attempting to retest this resistance level.

    Given the Fibonacci retracement, the price resistance as well as the current level of the Commodity Channel Index, expectations are for the 170.25 price level to and GBPJPY to retest the 169.6 level. Traders should use this opportunity to short GBPJPY at 170.25 with a stop at 170.65 ( a little above 76.4% Fibonacci retracement level) and a target of 169.54, a reward risk ratio of 1.83

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    Tags: GBPJPY
    Apr 14 9:04 AM | Link | Comment!
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