The 4H USD/CHF chart shows a market that has found support at 0.9114 twice and is forming a double bottom. A completed double bottom coincides with an upside break to the declining trendline seen in the 4H chart. The latest 4H candle is very convincing for a bullish correction to the decline from 0.9593…
The USD/CHF’s intraday pullback attempts during the week have been brief and have been followed by very convincing bearish continuation action seen in the 4H chart as it falls in a declining channel. Price action has been dominantly bearish as well. The market may be approaching oversold conditions both reflected by the RSI reading falling below 30, and price action trading near the lower bollinger band…
The USD/CHF has stalled after breaking below 0.93, and found support at the 0.9240 pivot established 12/21/2011. Before looking at further decline, the market looks like it has completed a bear run, and may be ready for a bull cycle before deciding whether to extend the short-term bearish trend or not. Note that there is a bullish divergence…
The 0.93 pivot acted as a very brief support before this week’s opening price action pushed below it, suggesting an established top and therefore a short to medium term corrective decline. Looking at the daily chart, we see some retracement targets for the 0.7065 to 0.9593 swing. The 23.6% retracement is near the 0.90 psychological support…
Instead of advancing and extending the bullish mode USD/CHF has been in since July of 2011, the pair has found resistance at 0.9593 (right below 0.96). The daily chart shows a bearish divergence and the decline following through. Now, the RSI is heading back to 40, a break below which would suggest a loss of bullish momentum the pair has established since pushing above 70 in Sept. 2011…
USD/CHF has been in a 3-wave correction decline this week, and in the 1/12 US trading session has satisfied and extended beyond the C=A wave projection. It is now trading just above the 61.8% retracement level (of the 0.9305 to 0.9594 swing) at 0.9150. If a pullback respects the 0.9465 level, 200 hour simple moving average and previous pivot…
USD/CHF finally finds resistane at 0.96.The 1H chart shows the market with extended bearish divergence as it traded near the upper bollinger band (3 standard deviations from 200SMA). At the start of this week, the market is starting a corrective mode. So far the first leg is back to 0.95 a minor support pivot. The RSI is at 40, a break below which suggests further corrective decline…
USD/CHF failed to break below 0.93 and the 200 4H simple moving average, which would have opened up some bearish targets. Instead the market rallied above a couple of projected trendlines, and the RSI is now kissing 70 in the 1/5 US trading session. This might be a sign of some near-term correction, but the bullish momentum has been re-established, and a test of the 0.9546 high might follow a throwback…
The USD/CHF failed to maintain the bullish momentum established in the last update where the 4H RSI reading pushed to 70. However, the reading fell below 40, and is now kissing 30 showing we are still in at least a sideways market if not a bearish correction. The 4H chart shows the market trading near the 200 4H simple moving average. The market has been trading above this MA since early Nov 2011…
The 12/28 US session is giving the markets a jolt after several days of quiet holiday trading. The USD/CHF rallied sharply above its recent consolidation action and could be signaling a bullish continuation. The 1H chart is showing strong bullish momentum, although in the near-term, we might be a bit overbought based on RSI reading and price trading at the upper bollinger band (3 standard deviations from the 200H SMA)…
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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