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Nima Azadi
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Nima Azadi has been engaging in financial markets for over 10 years. His experiences vary from investing and trading in the Tehran Stock Exchange (TSE) and Foreign Exchange Markets to mentoring and consulting on the technical aspects of financial analysis. He is frequently quoted in the Iranian... More
My book:
Duel with the Trend
  • Trading Strategy Of The Week - 9/16/2013 To 9/20/2013 0 comments
    Sep 16, 2013 12:45 AM | about stocks: FXA, FXC, FXE


    In the upper band of our moving channel and after hitting the Second Monthly Resistance, we are observing a negative divergence in MACD which implies the presence of overexcited bulls. A point worth of notice is the decreased slope of the smaller regression channel which shows weakness of the bullish camp.

    Like the last week, shorting the Aussie is not recommended as long as the 0.9180 support is not broken to the downside. Initiating new long positions can be truly agonizing.

    (click to enlarge)


    We have two regression channels: a small and rising regression channel of mild slop and a bigger descending channel of steep slope. This situation implies a rise in short term and then resumption of the downtrend in the medium term. The ZLR formation in MACD can bring fresh selling pressure.

    (click to enlarge)


    We have two rising regression channels. If price consolidates at the current levels, an HD formation in MACD can push the pair up to the upper band of the channels in this week. The slow pace of decline negates any bearish scenario for this week.

    (click to enlarge)


    EURO is in an area wherein the upper band of our moving channel converges with the First Monthly Resistance Pivot. It seems that the buying pressure is still high and as long as the price is above the Central Monthly Pivot, shorting the EURO is risky. We will wait to see signs of weakness in the bullish camp.

    (click to enlarge)

    Stocks: FXA, FXC, FXE
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