Looking for extremely over-bought or over-sold conditions can be a very profitable exercise in the FX market. Of course there are plenty of false alarms but if you trade […]
GBP and EUR having a short vacation
- Very little movement in either overnight;
- I’ve reduced my long position in GBP/USD as the short-term signals feel slightly bearish to me;
- EUR/JPY rejected 140 pretty unequivocally and this cross could […]
AUD/USD: Trade data today and sentiment remains bearish
- AUD/NZD traded to lows at 1.1002 last night as barrier protection held the first attempt;
- AUD/JPY has come off quite heavily but is still in a medium-term holding pattern above […]
USD/JPY: Headed back towards 100 in short-term
- Trend highs at 103.70 were untested and the market ran out of momentum above 103.00 this time;
- All credible reports suggest that the market is sitting very short of Yen;
- Japanese […]
USD/JPY looking very soft as crosses turn south
- Market is already quite long of USD/JPY according to most reports;
- EUR/JPY turned sharply lower yesterday after touching 140 and now it’s the turn of AUD/JPY to fall;
- More losses likely […]
Cable: Selling a bit more at 1.6410
There has been more positive data out of the UK and this has seen cable move back above 1.6400. There has also been a lot of action in the […]
AUD/JPY: Trade idea for the bearish contrarian
All those contrarians out there, like myself, should keep a close eye on this pair. If the 200-dma can hold again then we should see a fairly sharp sell-off […]
Big day for AUD with retail sales and RBA
- Retail sales for November expected at +0.4% MoM;
- RBA widely expected to leave policy unchanged at last meeting for 2 months;
- AUD/USD support at .9050/60 with stops expected below this level;
- AUD/NZD […]
Might be a good time to book some profits on EUR/AUD, GBP/NZD etc
- Despite a big technical break yesterday, GBP/NZD failed to consolidate these gains and will close back near 2.0000;
- As mentioned below, EUR/USD is threatening to form a significant top near […]
Look for USD strength to continue in coming sessions
- USD/JPY is set on challenging recent trend highs at 103.70;
- Cable looks overbought to me in shortish-term and could be ripe for a retracement;
- EUR/USD has put in an interim top […]
Cable: Target filled at 1.6410
The first of my longer term targets at 1.6410 has been filled. Remember that we’ve come from 1.50 on this rally and momentum will start to wane at some […]
EUR/GBP: Stops triggered below .8290 in early interbank trading
I remember being on the receiving end of some dodgy GBP/DMK stops during early Monday morning trade over 25 years ago, and some things will never change. Some ‘brave […]
AUD/USD: Tending toward a bullish bias intraday
- 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 […]
Levels to watch Monday December 2nd
- 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 […]
Trades to watch for, Friday November 29th
- Stay long cable, this is a no-brainer in my view. I’ve cancelled my take-profit orders this morning and will re-assess;
- GBP/NZD: Big technical levels currently and this pair has potential […]
AUD/USD: Technical contrarian trade
- 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 […]
AUD/USD: Fibo retracement at .9060 providing technical support
- 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.
More […]
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