Cable: Stops triggered above 1.6825 in thin trading conditions

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 […]

By |April 17th, 2014 12:36pm (th14174UTC14 UTC3604UTC)|fxww, GBP crosses|0 Comments

EUR/GBP: Fresh shorts in play

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 […]

By |April 17th, 2014 8:24am (th14174UTC14 UTC2404UTC)|fxww, GBP crosses|2 Comments

Plenty of action still in the crosses

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 […]

By |April 17th, 2014 8:05am (th14174UTC14 UTC0504UTC)|fxww|0 Comments

GBP/NZD worth considering a long trade on bullish break of 1.9520.

  • 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 […]
By |April 16th, 2014 8:05pm (th14164UTC14 UTC0504UTC)|AUD,NZD, fxww, GBP crosses|0 Comments

GBP: Testing important resistance levels after very decent UK jobs data

  • 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 […]
By |April 16th, 2014 7:34pm (th14164UTC14 UTC3404UTC)|fxww, GBP crosses|0 Comments

AUD/NZD: Targeting technical resistance at 1.0940

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 […]

By |April 16th, 2014 4:51pm (th14164UTC14 UTC5104UTC)|AUD,NZD, fxww|0 Comments

USD/JPY: Still hovering above important support levels

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 […]

By |April 16th, 2014 8:24am (th14164UTC14 UTC2404UTC)|fxww, USD/JPY|0 Comments

NZD/JPY: Still worth considering this short-trade strategy

It’s too close to Easter for me and I’m happy to stay on the sidelines but the risk-off players out there can still consider this trade especially given that […]

By |April 16th, 2014 8:12am (th14164UTC14 UTC1204UTC)|AUD,NZD, fxww|0 Comments

AUD/USD: More downside risk as long weekend beckons

Like I said yesterday morning, the short-term AUD market smells a bit long heading into the long Easter weekend and we will see profit taking emerge at […]

By |April 16th, 2014 7:42am (th14164UTC14 UTC4204UTC)|AUD,NZD, fxww|0 Comments

Cable: Market targeting stops below 1.6680

As many have pointed out to me since my last post, the double-top on the daily chart will lead to existing longs raising their trailing stops just to lock […]

By |April 15th, 2014 6:37pm (th14154UTC14 UTC3704UTC)|fxww, GBP crosses|0 Comments

GBP: I’m turning very bullish again

Please don’t ask me for 5 exact reasons, but the overall price action especially on the crosses suggests to me that we are set for considerably more GBP strength. […]

By |April 15th, 2014 8:28am (th14154UTC14 UTC2804UTC)|fxww, GBP crosses|1 Comment

NZD/JPY: Bearish entry level for ‘risk-off’ players

If you are of the opinion that we may get some risk-off sentiment ahead of the long Easter break, then you might consider an entry level near a 61.8% […]

By |April 15th, 2014 8:21am (th14154UTC14 UTC2104UTC)|AUD,NZD, fxww, JPY crosses|0 Comments

AUD/USD: Still looking bit overbought ahead of RBA minutes

Hate to rub it in :) but the place to buy AUD/USD was at .9025 a few weeks ago and not to be chasing it higher towards […]

By |April 15th, 2014 8:11am (th14154UTC14 UTC1104UTC)|AUD,NZD, fxww|0 Comments

EUR: Why is Draghi now becoming more worried about a higher EUR

If Mario is trying to talk down the EUR, does that mean that he thinks it’s going higher?

I don’t think I’d be selling the EUR on this […]

By |April 14th, 2014 3:09pm (th14144UTC14 UTC0904UTC)|EUR crosses, fxww|1 Comment

USD/JPY: Still prefer the short-term sell-rally strategy

The market remains bullish USD/JPY and it also remains long and susceptible to short-term clean-outs on the downside. The bulls have drawn a line in the sand near 101.25 […]

By |April 14th, 2014 2:57pm (th14144UTC14 UTC5704UTC)|fxww, USD/JPY|0 Comments

Look to Yen crosses for intraday trading opportunities

It will be a short week with many traders taking it easy ahead of a long Easter break. I wouldn’t be looking for any big medium-term trading opportunities, I […]

By |April 14th, 2014 10:04am (th14144UTC14 UTC0404UTC)|fxww, JPY crosses|0 Comments

Latest on IMM positioning from Citi FX Wire

IMM positions

By |April 14th, 2014 7:50am (th14144UTC14 UTC5004UTC)|fxww|0 Comments

EUR opens lower after Draghi comments

Comments from ECB chief Draghi that a stronger EUR would trigger looser ECB policy have seen the EUR/USD open lower in early interbank trade. It’s currently trading at 1.3840.

Elsewhere […]

By |April 14th, 2014 7:40am (th14144UTC14 UTC4004UTC)|fxww|0 Comments