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GBP crosses technicals

Posted on - May 9, 2014 10:08 am (Australia/Sydney) |
GBP/JPY sitting right on daily trend-line support; EUR/GBP sitting right above very important technical support.

NZD/USD: Next technical resistance at .8647

Posted on - April 24, 2014 11:55 am (Australia/Sydney) |
There is a 50% retracement level and an hourly high coming in  at the same level.

GBP/CHF: Looking to buy near strong technical support at 1.4870

Posted on - January 24, 2014 7:09 am (Australia/Sydney) |
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 looking very shaky.

EUR testing important support levels

Posted on - January 20, 2014 12:08 pm (Australia/Sydney) |
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 in place.

AUD/USD still looking heavy

Posted on - January 20, 2014 7:59 am (Australia/Sydney) |
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% retracement of the big rally from .6050.

EUR/GBP: Continue to trade the downward channel

Posted on - January 17, 2014 8:17 am (Australia/Sydney) |
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/USD: Short side favoured as crosses look bearish

Posted on - January 17, 2014 7:37 am (Australia/Sydney) |
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 below, trying to form a topping formation below 143.00; EUR/USD weekly technicals suggest to me that we are more likely to move lower. I […]

EUR/JPY topping formation looking more plausible

Posted on - January 17, 2014 6:58 am (Australia/Sydney) |
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.

AUD/USD: Initial resistance at .8820, look for stronger levels near .8870

Posted on - January 16, 2014 3:04 pm (Australia/Sydney) |
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 is at previous lows of .8820/25 and a break above there will run into further headwinds near the .8870 breakdown level from earlier today. Sorry, […]

AUD/USD: Favour playing from long side today

Posted on - January 16, 2014 7:37 am (Australia/Sydney) |
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 daily lows (see chart); If this base holds again, we could easily see a bounce back up above .9050 as shorts get jittery; Keep stops […]

Levels to watch during European trade

Posted on - January 15, 2014 4:56 pm (Australia/Sydney) |
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.

USD/JPY: Still feels like we could get a silly spike to 110+

Posted on - January 15, 2014 12:00 pm (Australia/Sydney) |
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 may get a sharp spike sometime very soon. This will probably take out technical resistance at 105.50 but my trade of the year is still to […]

Cable: Bull trend in place but expect more sideways in short-term

Posted on - January 15, 2014 11:46 am (Australia/Sydney) |
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 takers in an already-long market; Sentiment remains GBP-positive and I still expect to see increased GBP strength on crosses like EUR/GBP.

NZD/USD: Settling above previous hourly highs

Posted on - January 13, 2014 2:30 pm (Australia/Sydney) |
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 a daily high at .8335 to be taken out before the bulls can rest easier.

EUR/JPY: Topping pattern negated with break above 142.90

Posted on - January 8, 2014 4:28 pm (Australia/Sydney) |
Any hopes the bears might have had of a topping formation have been dashed with the break above 142.90.

AUD/NZD testing trend lows again near 1.0750

Posted on - January 8, 2014 7:42 am (Australia/Sydney) |
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 at .8335 (see chart).

USD/JPY: Stops triggered in thin markets; technical support at 104.15/20

Posted on - January 3, 2014 1:36 pm (Australia/Sydney) |
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 103.80/90 should provide even stronger support levels.

Cable: Looking for buying opportunities near 1.6400

Posted on - January 3, 2014 7:45 am (Australia/Sydney) |
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 trend but pull-backs will also be steep; I remain very bullish on cable but as always it’s a matter of timing the entry levels […]
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