The GBP/JPY failed to follow through bearish signals and instead found support at 117.26 for so far just a short-term rally. However it has run a bit overbought as price trades near the upper bollinger band (3 standard deviations from the 200 hour simple moving average). Also, there is a bearish divergence with the RSI. Overall market action can also be seen as a double top attempt…
By: Dima Chernovolov GBP/JPY has recently completed the Uniform Falling Wedge chart pattern identified by Autochartist on the 4-hour charts. The overall Quality of this chart pattern is measured at the 7 bar level as a result of the sharp Initial Trend (whose strength is rated at the near maximum 9 bar level), substantial Uniformity…
The 1H GBP/USD chart shows a market that is breaking out below a flag pattern. The market has been bearish in the short-term trading under the 200 hour simple moving average, with the RSI dipping below 30 and now failing to sustain a break above 60. A return below 40 suggests a return of the bearish momentum. Respect of a declining resistance also shows lack of bullish intent to extend the flag pattern…
The 4H GBP/JPY chart shows a market attempting to bottom in the short-term for a bullish correction, although price action does not suggest so yet. There is a bullish divergence with the RSI, but a correction should break a pivot near 119.20 before looking for the next pivot near 120.50. The bearish outlook remains, unless there is a push above the 200 4H SMA and the 121.04…
By: Dima Chernovolov GBP/JPY has recently completed the Uniform Triangle chart pattern identified by Autochartist on the daily charts. The overall Quality of this chart pattern is rated at the 7 bar level as a result of the high Initial Trend and Uniformity (both rated at the near maximum 8 bar level) as well as…
The 4H GBP/JPY chart shows a market that is breaking into a bullish mode. After failure to break below 61.8% retracement, price action rallied sharply above a projected channel resistance and the 200 4H simple moving average. There was also a strong push above the 200SMA after stalling there for a brief period. The RSI reading managed to stay above 40 after tagging 70…
The GBP/JPY failed to follow through with the break below the 61.8% retracement (of the 119.36-122.65 swing, Nov. 24-Dec. 2) consolidated in a sideways market. The support is not very clear but is seen around 120.50. The resistance has been flat at about 121.14. Now the market is testing as resistance for the 3rd time since tagging 61.8%, but this time the 200 hour simple moving average has caught up…
The 4H GBP/JPY chart shows a market that is falling below the 61.8% retracement of the corrective swing from 119.37 to 122.65, where the 200 period simple moving average held as resistance. Although the RSI pushed above 70 to establish short-term bullish momentum, it is now falling below 40 reflecting a loss of that. In the very short-term the next important support level is probably back at the 119.37 low…
The Bank of England meeting to decide on interest rate policy is on tap for Thursday, 12/8 at 7:00AM EST (12:00GMT). As we start the 12/7 US session, there is bit of a spike upwards for the sterling. The 1H GBP/USD chart is seen to maintain bullish momentum (RSI held above 40 tagging 70 again). Price action stayed mostly above the 200 hour simple moving average and…
The GBP/JPY was at an important resistance in the 122.30-122.50 area, and fell on 12/2 after failing to break above. The 4H chart below shows that this is 23.6% retracement and 200 period simple moving average. In the 1H chart however, the market is trading above the 200H SMA. However, the bullish momentum is killed after the RSI broke below 40…
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
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