- Prime brokers reports suggest to me that the speculative market is largely short as they wait in anticipation of further selling of the AUD from the big real-money funds;
- Technical […]
- EUR/GBP is edging below previous daily lows near .8290 and the bear trend is picking up some momentum;
- EUR/JPY is opening right on important technical resistance at 139.20. We had […]
The 61.8% of the big fall from 169 comes in above 140.50 and that’s the next obvious technical target.
- Monthly highs near current levels, 139.10/20;
- 61.8% retracement of big move from 169 comes in near 140.50.
- The recent fall has stalled thus far at a 76.4% retracement level near .9060;
- The short-term charts are trying to form a basing pattern.
I’m not overly convinced by […]
- End-of-month flows expected to be AUD/USD positive;
- Fibo support at .9060 (see chart) providing technical support;
- Flows in the crosses are overwhelmingly AUD negative with possible exception of AUD/JPY.
There is some resistance on the hourly chart around .9200 and I would expect to find some trailing stops above .9205. The big level to watch in my view […]
- Cable has failed to break above 1.6260 and is threatening to retrace inside its consolidation range (see chart). Short-term cable bears have an obvious strategy to sell […]
- Talk of a barrier at 101.50 which will be well defended;
- July highs at 101.55 directly above there;
- We can expect to see plenty of stops above 101.65/70;
- GBP/JPY still looks like […]
- Another speech from the RBA deputy-Governor later tonight so we can expect more verbal intervention;
- Crosses like GBP/AUD have made significant bullish breaks and more AUD weakness is likely;
- Real-money funds […]
Obviously talking my book here as usual but all the signs remain bullish for the GBP in my biased view. GBP/JPY and GBP/AUD have made strong technical breaks and […]
The daily chart is showing support levels near .9225 and although we’ve seen a marginal break, we must wait and see whether the bears are able to […]
Huge level looming large for GBP/JPY at 163.00 (see chart). Normally these levels hold on the first test but watch out if it breaks.
Modest up-trend still in control but we could see a pullback towards 81.00 after resistance levels at 84.00 held firm again (see chart).
With NZD/USD showing a potential […]
- It’s Monday morning so we may get some silly moves but the fact that it hasn’t happened yet suggests that there are sell orders ahead of any stops;
- Technical resistance […]
I have no idea where USD/JPY is headed in the shortish-term. The market is quite long yet it looks comfortable with the position so we may indeed see further […]