There is a 50% retracement level and an hourly high coming in at the same level.
- Trend-line and a 61.8% retracement level converge near 1.4870 (see chart);
- If buying this dip, keep stops fairly tight as it is risk-off Friday and some stock-markets are […]
- EUR/USD is testing trend-line and 61.8% support at 1.3510/15; a clean break would indicate increased momentum.
- EUR/JPY is testing support near 140.40, a clean break would suggest a topping formation […]
- Asian real money sellers capped the pair on Friday near .8820;
- Sentiment remains bearish as the market plays it as a ‘Chinese credit bubble’ proxy;
- Technical target at .8570, a 50% […]
- One constant for me is the fact that EUR/GBP is headed lower;
- I’m continuing to trade the downward channel (see chart);
- Sell rallies towards .8400 looking for .8100.
- EUR/AUD is back at longer term median levels near 1.55 (although the daily up-trend remains in place);
- EUR/GBP is headed back sub-.80 in coming months (imho of course);
- EUR/JPY as mentioned […]
- Possible topping formation ahead of 143.00 (see chart);
- Needs break and hold below 140.40 to confirm;
- Shorts favoured with stops above 143.25.
The macro speculative market is piling into AUD/USD shorts, with .8500 seen now as a foregone conclusion and some starting to talk now of levels below .80 cents.
Initial resistance […]
- The professional speculative market is quite short of AUD already as a proxy for the ‘China credit bubble’ trade;
- The daily chart is trying to form a springboard with rising […]
- USD/JPY: Technical resistance at 104.50 and sizeable sell orders at 104.60/65.
- USD/CAD: Barriers at 1.0975 and 1.1000.
- USD/CHF: Stops below .8980.
- EUR/JPY: Strong technical resistance near 143.20.
I don’t have a position in USD/JPY at the moment and therefore my opinion should carry less weight but for what it’s worth, it feels to me that we […]
- 4-hr chart shows the bull trend still in play but the MAs losing momentum (see chart);
- Major support should develop now near 1.6250 whilst 1.6600 will attract profit […]
Selling the NZD/USD was obviously not a good idea and the break above previous hourly highs at .8320 now opens the way for further gains, although there is still […]
Any hopes the bears might have had of a topping formation have been dashed with the break above 142.90.
- The market can stay irrational longer than you can stay solvent!
- There seems to be no let-up in the market demand for NZD;
- Next technical resistance of note in NZD/USD is […]
- Markets remaining very illiquid during holiday period and stop-loss orders make easy pickings;
- Next technical support in USD/JPY is at the short-term bullish trendline near 104.15/20;
- Previous highs below there at […]
- The GBP was hit across the board after not-so-impressive economic data;
- EUR/GBP looks to be in a bear trend channel with current parameters at .8200/.8425;
- GBP/JPY is in a steep bull […]
- Profit taking in illiquid markets in the Yen crosses was the main feature in overnight trade;
- GBP/JPY and CHF/JPY were the hardest hit;
- The trends in the crosses remains very strong […]