AUD/NZD is way too low, with mid-range values for last 20 years around 1.18/1.20; AUD/JPY is another pair soon set to rally imho with super strong technical support at 90.00; GBP/AUD has just reached it’s first technical target at 1.8500 and another big one is looming (38.2% of entire downmove from 2.60) around 1.8800; AUD/USD

USD/JPY is trading at 5-year highs and the market is all bulled-up for more gains. I’m not joining in as I missed this boat already; USD/CAD is worth watching closely as it seems to have plenty of scope for a big catch-up on the top-side; The GBP has out-performed all currencies overnight after more strong

This morning’s trade has worked out nicely but there is no point in being too greedy ahead of the Fed so I’ve taken 90 pips profit off the table and will look to re-load on dips. I really like 1.6250 now as a potential base

The market is very bullish USD/JPY, and already quite long, but events overnight in the CHF crosses might flow over into the Yen and cause a bit of nervous pre-FOMC position-squaring. Technically we could easily dip to 101.80 without endangering the bull trend and I see the early risk today as being to the

I’ve had a good feel for the GBP in recent months and I’m getting the feeling again that we may soon see another sharp spike higher. There were well reported stops in cable and EUR/GBP but the market seems just about able to muster enough momentum to trigger the stops and then no more. Obviously

Thanks to Milan who just posted this in the chat-room. I’m not 100% on their levels but I love the direction: “MORGAN STANLEY TRADE IDEA OF THE WEEK In the week of the FOMC meeting, we still like being short CAD. As markets continue to price in tapering, we have found CAD to be the

Recent trend has been strong and bears will need to be careful of selling into weakness; FOMC and plenty of UK data this week should ensure that interest remains high; Previous highs at 1.6250 provide support and Friday’s fall stalled at 1.6260; Bulls can try buying at 1.6270 with a very tight stop below 1.6240

Heavy trailing stops are reported below 1.6265 and 1.6240; Market has been buying cable for some months now putting it at risk of a sharp spike lower especially now that the USD is establishing a ‘bid tone’; Overall I’m still bullish on cable (but I’ve taken most of my risk off the table in recent

Most of the big recent moves have been in the crosses but the USD is looking increasingly likely to enjoy an end-of-year surge; EUR, GBP and CHF have made strong gains in recent months and could easily enter a period of consolidation; Most of the USD gains have been coming against the AUD and the

Looks to me as if the market was in base-picking mode for last few days and now we are seeing their confidence tested. The RBNZ didn’t say or do anything unexpected by my reading, but with rate rises in the offing for next year, it’s not hard to put a bullish-NZD spin on things. The

Reuters reported that the EZ is making significant progress in coming up with a plan to tackle ailing banks; EUR/USD consolidated it’s steady gains of recent days and is still targeting trend highs at 1.3830 (see chart). A clean break above there targets 1.40, always important psychologically and a magnet for options market; EUR/GBP regained

Silver is up 50 cents from yesterday morning and the contrarian trade we looked at is looking increasingly relevant. There has been plenty of chatter re large trailing stops through $20.50 and we should see a test of this level at some stage over the next few

USD/JPY: Trying to form a double-top at 103.35 and some heavy profit-taking was reported yesterday in many Yen crosses; USD/CHF: Trying to close below previous lows at .8880; AUD/USD: Short-term technical resistance at .9170 and the 21-dma is always relevant, coming in near .9190 today; EUR/USD: Targeting recent trend highs at 1.3830

GBP/JPY has breached recent daily highs at 169.15 and closed above there; USD/JPY has had an intraday pivot in recent sessions near 103.00 and the close above there makes a test of 103.70 increasingly likely; 1.6410 has been the level I’ve been watching in cable and the close above there makes further impulsive gains increasingly

Despite comments from renowned Fed-watcher Hilsenrath that we may see some tapering sooner rather than later, Silver still managed to rally by 2.5%; I’ve heard some second-hand reports which put Silver shorts at quite severe levels heading into the holiday season; Trailing stops are reportedly large above $20.50. I haven’t been actively trading it recently

AUD/NZD is starting to spend a bit more time below 1.10 suggesting that more losses are possible; EUR/AUD is also consolidating above an important technical level at 1.5030 and more gains are favoured; AUD/JPY is trading sideways still and not following the lead from other JPY pairs; AUD/USD continually runs into solid selling interest during

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 them properly, these signals can be very profitable. Even though I’m a medium term GBP bull, the short-term signals are looking increasingly bearish but as yet

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 hold the key to short-term EUR moves. I can’t see much point in having any major risk on either GBP or EUR at the