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 USD/CAD has found short-term support at 0.9980 after breaking below parity. Looking at the 1H chart, we see that the rally is taking a second leg (or 3rd wave up), so it is possible that this is a C wave in an ABC correction. The downtrend seen in the 1H chart has been choppy, but it has been trading in a declining channel and staying under the 200H simple moving average…
The 4H USD/CAD continues it’s decline below triangle support and below a support area around 1.0070. In the 1/27 Asian-European session, it is confirming the bearish outlook after a brief pullback in the previous US Session. The RSI shows persistent bearish momentum since breaking below the triangle, as the reading has tagged 30 but failed to break above 60…
The USD/CAD 4H chart shows a failed pullback in the early part of the US session that was followed by an almost engulfing candlestick to the downside. This sets up a lower high, while corresponding RSI high is the same as the previous. This condition is known as a negative reversal. A swing projection is a conventional target for this signal, and it looks at 1.0030 level…
The USD/CAD indeed broke a triangle support seen in the daily chart. We also see a couple of indecisive days (shown be the type of candlesticks formed), until the start of this week, where a strong, engulfing type of candle is confirming the downside breakout. We also see that after a bit of congestion of the 8, 21, 55 and 100- day simple moving averages…
The USD/CAD failed on Friday to push through triangle resistance, and has since dropped to triangle support. With the market so close to the apex as seen in the daily chart, a break is imminent. Note the RSI reading in the daily chart is still above 40. A break below 40 means a break of bullish momentunm established last September. Really, it means a turn to bearish bias after a few months of congestion…
The 4H USD/CAD shows the market set up a double bottom between the 61.8% and 78.6% retracement of the 1.0075-1.0318 swing. In the 1/13 US trading session, the market followed through to the upside. Candlesticks show strength in price action. The RSI shows maintenance and return of the bullish momentum established in the previous swing as it failed to break below 40 and is pushing above 60…
The 4H USD/CAD chart shows a market picking up bullish momentum as the RSI reading pushed above 70. In the near-term, this is overbought suggesting some throwback. But going forward it does show bullish momentum. Price broke 1.03, which also cracked an inner triangle resistance as well as the support level for mid-December double top…
The USD/CAD ailed to break below triangle support after cracking it to start the new year. The 4H chart shows a market that has bearish overall momentum. But price action is breaking above a projected trendline, and the RSI is also about to test 60, above which we can say there is a lost of bearish momentum. The 1H chart shows the market now trading at 61.8% retracement of the latest downswing…
The USD/CAD has been trading in a triangle. There is an inner bound support and an outer bound one. Right before the new year, the market bounced sharply off the inner support but failed to sustain the rally above the 200 4H simple moving average, and failed to push the RSI back above 60. As we get into the 1/3/2012 US session, the market has broken the inner triangle support, and is cracking the outer one…
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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