Latest From The Blog
Market conditions were always going to start thinning out today ahead of the long weekend and the first victim has been the stops above 1.6825 in cable. I would not be buying any cable breaks in these thin conditions but it should give the GBP crosses an added boost across the
I had a really good run lower on this pair from .8540 to .8200 and even managed to turn long once the 61.8% Fibo at .8150 held firm. But everything is screaming at me now that we are due for a big move lower in this cross. If EUR/USD can
For an old 'cross' trader like myself, yesterday was a very interesting day with the NZD leading the way during Asian trade, the GBP taking over during European trade and finally the CAD to the fore during the North American session. Day traders could certainly not complain about the lack
- GBP/NZD has just broken technical resistance near 1.9520;
- Cable looks set to break above important resistance at 1.6825;
- The GBP looks generally strong on all crosses;
- The NZD looks generally weak on all crosses with AUD/NZD having made a strong bullish break today.
- Unemployment rate now under 7.0%;
- Very important technical resistance in cable at 1.6825;
- Clean break will have market set on testing 1.7000;
- EUR/GBP testing recent lows and also looks set to test very important support at .8150.
We have taken out one large resistance level already near 1.0890 as NZ CPI and this morning's dairy auction weighed on the Kiwi. The next big technical level in the Anzac cross is an important daily high at 1.0940 and there are sure to be stops above there. I would not recommend
I don't see much point in getting involved in USD/JPY at the moment. There is major support coming in near 101.25/50 with stops below there whilst resistance will be strong at 102.25/50 with stops above there. I'm sticking with my modest bearish bias in the short-term but we need to be