Something Interesting in Financial Video March 2015 - page 5
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Forum on trading, automated trading systems and testing trading strategies
Press review
newdigital, 2015.03.28 18:34
NASDAQ forecast for the week of March 30, 2015, Technical Analysis
The NASDAQ as you can see fell during the course of the week, testing the 4800 level. That being the case, the market looks as if it is ready to try to find support in this general vicinity, but at this moment in time we feel that the market isn’t quite ready to be bought yet. We may have to find the signals off shorter-term charts, but ultimately we believe that breaking above the 5000 level is necessary in order to start going long with any type of significant confidence off of this chart.
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newdigital, 2015.03.28 18:38
Gold forecast for the week of March 30, 2015, Technical Analysis
Gold markets as you can see rose during the course of the week, testing the $1220 level. That being the case, the market pullback and formed a little bit of a shooting star like candle. If we can break down below the $1180 level, we feel that the market will then test the $1140 level. Ultimately, we have to wonder whether or not the $1140 level is a bit of a double bottom waiting to happen, so we don’t necessarily think that the markets going to break down below there. Ultimately, if we break the top of the shooting star, we should then go to the $1300 level given enough time.
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newdigital, 2015.03.28 18:41
USD/JPY forecast for the week of March 30, 2015, Technical Analysis
The USD/JPY pair fell during the course of the week, testing the 118 level at one point. That being the case, the market did find buyers though, and we did bounce enough to form a little bit of a hammer. We believe that if we can get above the 120 level, we would be buyers and recognize that the market should continue to go to the 122 level, and then possibly the 125 level after that. Even if we break down below the bottom of the range for the week, we feel that the market has plenty of support all the way down to the 115 level.
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newdigital, 2015.03.28 18:44
USD/CAD forecast for the week of March 30, 2015, Technical Analysis
The USD/CAD pair fell initially during the course of the week, but found enough support at the 1.24 level to turn things back around and form a hammer. The hammer of course suggests that the markets going to go much higher, and if we can break the top of that hammer we are buyers as the market should then go to the 1.28 level, followed by an attempt on the 1.30 level. We have no interest in selling, and even if we break below the bottom of the hammer, we think there’s going to be plenty of support down at the 1.20 handle as well.
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newdigital, 2015.03.28 18:46
NZD/USD forecast for the week of March 30, 2015, Technical Analysis
The NZD/USD pair tried to break out during the course of the week, but turned back around at the 0.76 level. With that, the New Zealand dollar should continue to go lower given enough time and we believe that a move below the 0.75 level since this market looking for the 0.72 level. Ultimately, we believe that the New Zealand dollar will continue to suffer at the hands of the US dollar, and a softer than expected commodity markets. Because of this, we believe that this market will in fact break down, and it will more than likely break down below the recent lows and head to the 0.70 level as well. We think that rallies continue to offer selling opportunities as well, as we see a significant amount of resistance above.
The area above the shooting star shows all kinds of resistance, and as a result we think that it’s not until we get well above the 0.80 level that we can even remotely think about buying. If we do see that, this market should continue to go much higher and at that point in time we feel that it would be a bit of a trend change going forward.
Remember that the Royal Bank of New Zealand has recently stated that the level that they are comfortable with in this particular market as the 0.68 level, as it is now considered to be “fair value.” Ultimately, there will always be the threat of the Royal Bank of New Zealand getting involved in the market yet again, selling off the Kiwi dollar like it did a couple of months ago.
Because of this, we feel that the New Zealand dollar will continue to have a bit of a black cloud above it, and with that we have no interest whatsoever in buying. We believe that both short-term and long-term traders will continue to apply pressure to the Kiwi dollar going forward, and therefore we expect quite a bit of selling opportunities over the course of the next several weeks.
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newdigital, 2015.03.28 18:48
GBP/USD forecast for the week of March 30, 2015, Technical Analysis
The GBP/USD pair went back and forth during the course of the week, testing the 1.48 level on the bottom, and the 1.50 level on the top. We believe that this market will eventually break down though, so a move below the 1.48 level is the signal that we need to see in order to start selling yet again. At that point in time, we feel that the market will then go down to the 1.45 handle, and then perhaps the 1.40 level. We have no interest in buying at all.
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newdigital, 2015.03.28 18:51
EUR/USD forecast for the week of March 30, 2015, Technical Analysis
The EUR/USD pair tried to rally during the course of the week, but as you can see struggled at the 1.10 handle. This is an area that continues offer resistance, and the fact that we pulled back to form a shooting star of course is a very negative sign. If we can break down below the bottom of the shooting star, we feel that the market then heads to the 1.05 handle. Below there, we go to the parity level, but we are not quite ready to do that yet and we feel that the return trip is about to start this week.