Anytime we get above forecast and above 200K employment change and decline in unemployment, we get welcoming sign for the US economy. Risk appetite usually leads to pressure for the USD. Indeed we saw that against the commodity currencies like USD/CAD, AUD/USD and NZD/USD where dollar weakness was apparent…However, we have a different reaction in EUR/USD, GBP/USD, USD/CHF, and USD/JPY…
The AUD/USD rallied from the 1.0525 pivot yesterday, staying in a rising channel (seen in the 4H chart), and advancing back to last week’s high near 1.0683. Failure to break above and a subsequent decline in the US session sets up a range between 1.0525 support and 1.0683 resistance, with central pivot near 1.06. The 1H chart shows the market testing the central pivot…
The AUD/USD is starting the week with a bearish breakout from the triangle formed through the latter half of last week. So far as we enter the US session, the market has retraced 61.8% of last week’s rally at 1.0526. The RSI in the 1H chart shows that the momentum has NOT been persistently bullish and is turning sideways…
The AUD/USD continues to trade in a rising channel. After the FOMC announced extending its low interest rate period throughout 2014, the AUD/USD respected a previously broken declining trendline, and surged past the 1.0565 high. If the initial bounce of broken resistance did not confirm the breakout, this did. The 4H chart shows no stopping at the moment, but in the near-term we might be a bit overbought…
The AUD/USD as indeed broken above the resistance in the last couple of global sessions, but is retreating in the 1/24 Asian session. The daily chart shows that the previous 2 daily candles that represent the breakout have been unimpressive. The RSI reading also failed to break above 70 to reflect bullish momentum. Instead, the market looks to be pondering this bullish move that started early December of 2011…
The AUD/USD has been trading in an upwards channel. As it does, price has pushed above the 200 day simple moving average, and is now also pushing above a projected triangle resistance seen in the daily chart. We are now opening up the 1.0770 pivot as the next resistance/target. That is, if the break does materialize from today’s initial crack at resistance…
The AUD/USD has had a positive year so far and has rallied to a resistance cluster. The daily chart shows that the 1.0433 level is 61.8% retracement of the decline from 1.1079 to 0.9387, after which, it has been trading in a congestion triangle. Aside from 61.8% retracement, the 200 day simple moving average also reside here, along with the projected triangle resistance…
The AUD/USD rallied from 1.0145 to 1.0377 this week, following through a bullish break of a triangle that is seen in the 4H and daily chart. There was a strong throwback after the ECB meeting, but so far this correction to the rally has respected the bullish momentum established this week. (The RSI stayed above 40, and even 50, after tagging 70.)…
The AUD/USD has been trading downwards in a declining channel since finding resistance at 1.0385 on Jan. 3. The 1H chart shows the market now anchoring out of this declining channel after finding support at 1.0144. So far there is a 38.2% retracement, and the market is still trading under the 200 hour simple moving average. This means, the corrective rally has completed the 1st leg…
The AUD/USD indeed formed a double bottom (as seen in the 4H chart) and followed through with a rally to end 2011. This rally also popped up above a triangle seen in the daily chart. As we begin trading in 2012, the market appears to be set for a throwback to test whether this breakout will sustain. The 1H chart shows the market rejected at the upper bollinger band as the RSI also popped up above 70…
RT @MarvellousR8kie @alaidi Thank you very much for the valuable insights. Great seminar. Thks for coming ! #forex
A MUST For Anyone who Trades FX! Free e-book from BK -Don't Trade Like Tony Montana FX http://t.co/WTBAVCeZ .03
$GBPUSD 240-minute swing entry update video walk-thru http://t.co/Gd2ELB55 #forex $$ $GBPUSD Follows-Through as Greenback Slides Towards Psych Level http://t.co/wVNJGzNH #forex $$ Sandy kicking off the seminar, Ill take over at Noon http://t.co/xrZdNmNC #forex $SPX Pretty much replicated $EURUSD shorts on Thurs nite as on Tue; results were the same, peaks at 1.32 back to hit 13080s targets #forex
Thank you kindly! Have a great weekend. @SE1_Trading @LeeGrins @aussietorres @knmtechnology @esanchez81 (cont) http://t.co/mwArOhWy
Need to launch changes on DailyFX so US traders can watch videos. May take a few days. Meantime US viewers can go here: http://t.co/z54gnUQY Weekend Video (now available to US viewers): AUDUSD and Dow Clear Resistance Post NFPs, EURUSD Anchored http://t.co/eDfHlafs And, there were no fireworks in US crude positioning this past week. But then again, oil held congestion http://t.co/XOKxCq4l We had a notable jump in the net long interest in gold this past week. Feeding into the metal's upswing. http://t.co/9Q5FNffe We've noted the divergence between S&P 500 price and volume. Add to that net speculative positioning. http://t.co/PHLpdOMi We talk about the short-cover potential in EURUSD, but what about the unwinding of this big $AUDUSD long buildup. http://t.co/uHep6hbe In the meantime, here is the $EURUSD versus the net speculative Euro interest. A lot more room for covering here.. http://t.co/d7P0JHsa
weekly http://t.co/FjE1lFRL i WILL be online sunday night during the super bowl after I smoke my ribs on the grill #forex Yet another Friday where $EURUSD is rallying into the close on spec that Greek deal will be done. The US Dollar Index fell far behind this recent build up in net speculative positioning in dollars. http://t.co/vMcNiXT7 Here's the Dow Jones Industrial Average and its respective volume lull as well. http://t.co/e2X4CbFK Too much to expect a multi-month high close on the $S&P 500 to garner greater turnover. http://t.co/vnF8MqmY
Co-chairs of Greek Creditors Committee flying into Athens this w/e - either tough decisions need to be made or a deal is ready to be closed Best performing currency pair today is CADJPY +1.11%, Worst performing is EUR/CAD -0.60% RT @kathylienfx: @Fxflow Congrats on cracking above 8k// thanks K Flow Rules! :) crosses http://t.co/sTJIEdld better opportunities here (still) than in usd imo Awesome Timetable on Greece courtesy of WSJ. Print it out or save the link http://t.co/RnUs2EYX ...great quote from Sebastien Galy at Soc Gen in that article, “The SNB’s hand is being forced and it will likely be fairly brutal.” According to a good FT article on SNB political pressure for solid intervention, the options market is pricing in a 30% chance of 1.20 break EUR net short positions down 8 percent - confirming that shorts were "squeezed" over the past week That's a hearty drop in net dollar long interest from the COT figures. Good indicator for establishing a time frame for dollar's tumble.
This is the stand out figure IMO RT @djfxtrader: Net Yen Long Position $9.3 Billion Increases 30%,according to analysis of CFTC data #forex Here's the risk-trend alternative to the cable channel: $AUDUSD blowing through the potential triple top at 1.0750 http://t.co/q4EgQK8n
#FF The young ones in FX @Hew_Dat @stephensimonis @Lawrence_Fayman @josephrichman @Rebelgt09 @jaredboydfx You can't use rate expectations for the BoE, so here is $GBPUSD versus the UK-US 10yr yield differential. http://t.co/0pq2FBfE We're talking the spread of a crisis state from Greece to Portugal, but Portuguese CDS have pulled back recently. http://t.co/KQ85ZFYl Fed ZIRP 'less' ZIRPy -time for ECB/BoE/BOJ/SNB to play catchup (mkt weighing adj in rate diffs w/risk app)..balance sheets ready to implode
@JamieSaettele thanks buddy!..yep 161.8% projection of wave 3 vs 1 - kiddie stuff :-) Can u believe I will ACTUALLY be watching the Superbowl Sun? Usually I'm at a rest bc its the BEST day of the yr to get those had reserv!
Do now that we're all on LinkedIn, what happens? Do we all get raises? Or do we all hire each other? An hour an change left for the official NY trading session. Looks like we will hold onto these breaks for next week. You can definitely tell those officials that are irked by the 2014 FOMC hold call. Bullard says it was wrong to link it to a specific time. Our clients at Aspen have 1.0820 limits to take profits in AUDUSD to go flat for +225 pip trade. Feds Bullard says Fed may have to raise rates before 2014 and strong data weakens case for QE. He is a non voter on FOMC
The blog owner requires users to be logged in to be able to vote for this post.
Alternatively, if you do not have an account yet you can create one here.
Powered by Vote It Up
Information and opinions contained on this page are for educational purposes only and do not constitute trading recommendations.
Trading OTC Forex on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange or futures you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange and futures trading, and seek advice from an independent financial advisor if you have any doubts.
