By: Dima Chernovolov I recently subscribed to Autochartist’s latest e-mail feature and received this trade opportunity alert this morning. Autochartist’s latest feature provides traders with a quick morning technical outlook of the markets. As you can see from the following trade opportunity alert for USD/CHF, this currency pair recently broke the lower support trendline…
Falling channel: USD/CHF failed to break above a falling channel resistance during the 6/10 session, and is now testing a recent low at 0.9223 as we wind down the 6/11 session. The RSI shows momentum as shifted, though the moving averages in the 4H chart suggests this swing is so far simply a down swing in a sideways market because the 200 SMA is relatively flat, and there is no bearish alignment with all the moving averages…
Falling trendline: USD/CHF has a short-term falling trendline from the 0.9790 high of 5/29, as seen in the 4H chart. Since a Friday bounce off the 0.9246 support pivot, USD/CHF has formed a relief rally that is cracking the falling trendline. A break and hold above 0.94 should open up a reversion scenario back toward the middle of recent swing, or up to 61.8% retracement…
ABC correction: After a rally since mid-April from 0.9207 to 0.9837, USD/CHF has been in an ABC correction. The 4H chart shows this 3-wave correction with two downswings that are similar in length, but the latter wave “C” is longer. Support factors: This correction has cracked a rising speedline going back to the end of April, beginning of May…
Powerline: A powerline refers to a rising or falling line that is shown as support as well as resistance. The 4H USD/CHF chart shows a rising powerline in May. 5/24 trading pushed USD/CHF below the powerline, reflecting a possible change in trend in this time-frame…
Ascending triangle, bullish biases: USD/CHF has been bullish in May, but since it found resistance around 0.9750 it has been forming an ascending triangle. This congestion pattern reflects a market consolidating with bullish bias. The RSI has held above 40 after tagging 70 and also shows maintenance of bullish momentum…
Channel breakdown: During May so far, USD/CHF has been rallying in a rising channel from 0.9246 up to 0.9435. This week’s decline broke down this rising channel support as seen in the 1H cart as price is now back to the 200-hour SMA. The 200-hour SMA is flat, which reflects a market without trend in the 1H chart. The RSI shows lost of May’s bullish momentum as the reading drops below 40…
By: Dima Chernovolov I recently subscribed to Autochartist’s latest e-mail feature and received this trade opportunity alert this morning. Autochartist’s latest feature provides traders with a quick morning technical outlook of the markets. As you can see from the following trade opportunity alert for USD/CHF, Autochartist recently identified the Triangle chart pattern on the…
By: Dima Chernovolov I recently subscribed to Autochartist’s latest e-mail feature and received this trade opportunity alert this morning. Autochartist’s latest feature provides traders with a quick morning technical outlook of the markets. As you can see from the following trade opportunity alert, USD/CHF recently broke the hourly Triangle chart pattern identified by…
Consolidation breakdown: USD/CHF is pushing to a new low in April after consolidating a bit last week and failing to form a bottom this week. A rally failed to break a recent high at 0.9331 and price also held under the 200-hour SMA. The RSI held under 60 for the most part, reflecting maintenance of bearish momentum. As we get into the 4/16 US session, USD/CHF is cracking the 0.9263 low, signaling bearish continuation in the short-term…
Volume on yen futures was 471K contracts - that is the second highest (after 6/7) on record. Tentative support on $USDCHF; but after that huge swing, I don't take it seriously. http://t.co/BhCgRaaLSx
"The End of Day #Forex Report. A look at the new trading day ahead."( http://t.co/gpwgsWvEC1 ) Biggest pip-based drop for $USDJPY since 5/6/2010: http://t.co/pUgdbhoHEY "#USDTRY off highs as riots on the streets in Istanbul"( http://t.co/kVKcgOsGIY )
And guess what happened after the +4% sell off in USD/JPY in March 2011? = G7 intervention
“@daytradersfx: Well not a bad morning, closed two trades for a total of 138 pips, thanks $EURUSD and $GBPJPY” And one for charity too! Found this really old article I wrote on USD/JPY: Top 10 Largest Moves and How the BoJ Responded http://t.co/lTepJjIoMW If $EURJPY keeps up this pace, I may be jumping in again faster than expected... http://t.co/0VKEIS3Mv7 Biggest one day sell-off in USD/JPY since March 11, 2011 - aftermath of the earthquake & tsunami that hit Japan What does it take to break gold from this wedge... http://t.co/6FWE9xvkM5 "#USDJPY moves below 100 day MA and the price plunges another 50 pips"( http://t.co/n6tuqQcVZJ ) Alright, I need to take another portion of my $USDJPY short off (+385). If it breaks 95 convincingly, I'll re-up. Next level of escalation for the $USDJPY's gradual turn: breaking this trendline at 95: http://t.co/CA9BDM2VU1
$USDJPY Stutter-Step Sell Targets Last Week’s Low - http://t.co/qAOs1KDe3P #forex #USDJPY
And if you don't like what you see, let me know--appreciate the feedback either way. If you like what you see, sign up for my reports via e-mail in PDF format: http://t.co/2AocNzIh9g (I really hate spam, I'm sure you do, too) Fed's June rate decision scheduled for next Wednesday. Keep it in mind as the 'Taper' debate rages on Is today the start of a major Australian Dollar bounce? I think so. Here's why: http://t.co/RGWFdsBLDT Decelerating pattern back into former support as new resistance for $SPY. Watching 1,600: http://t.co/tlRF8QPhYm ...falling demand and higher yield on med-duration debt not a good sign for a Fed contemplating an exit. Treasury sells 3-year paper with a yield of 0.581% (highest since 7/15/2011), bid-to-cover of 2.95 (lowest 12/10/2010). How many times in the past 3 decades has $AUDUSD moved in over 5 straight weeks in one direction: http://t.co/PRbNvwHPoq
RT @Fibarchie: @ForexStopHunter Thanks Dale for the #fxstreet interview. catch it here http://t.co/Wyn8FBQ60Y $es $cl $gbpusd Your Welcome:) This was the $EURJPY chart I was looking at yesterday. Played well, but more places to jump back on http://t.co/ob6OyMTWjz Argument that AUD could weaken on RBA cuts is valid, but look at key interest rates/differentials: http://t.co/OqqsS9mg2u
Who on my stream called AUDUSD down to 9330about 10 days ago to end a trend sequence? Kudos.. Asmussen earlier touched on a critical question most overlook:what if a country didn't meet OMT conditions? Either EZ exit or program revamp
@DRodriguezFX good looks...this feels like one of those that has had so many false bottoms that when the bottom does form-few will trade it Bundesbank Weidmann said that monetary policy is not meant to buy time for fiscal efforts. That has been a key Fed and BoJ effort... That analysis is the brainchild of @JamieSaettele, by the way. He did a great writeup on newspaper/magazine headlines in his book. .@KKerrFX pointed out lack of irony in sensationalist BI headlines, but really I posted that bc "The Australian" said "Plummets" in title. Australian Dollar bounce might be start of bigger recovery. One clue: sensationalist newspaper headlines: http://t.co/IWIIr7gnF5 Ouch. Paulson Gold Fund dropped 13% in May and down 54% since the start of the year - Bberg RT @NicTrades: It's Tuesday. We whacked it down so you could buy it. You are welcome America > Class.. I took a $EURJPY short at 130.75 before I got on my plane yesterday - before it was delayed for hours. Now +200. I'm going to book. Patience kept me with my $USDJPY short. Not back to last week's spike low at 95, but I'm still +300 in the money on the remaining exposure
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