Overview: Fan Yang CMT, Chief Technical Strategist will discuss ways to assess the market via candlestick analysis. This is a refresher for those already familiar with the topic, but also an introduction to those who are new to candlestick analysis…
The AUD/USD has been consolidating this week after sharp declines since the beginning of September. The wave count anticipated earlier in the week may be materializing as we see our first pullback towards parity in a leading triangle pattern. The 1H chart shows the AUD/USD then make an abc correction that was supported near the 0.97 level…
The Non-Farm Payroll, which comes out the first Friday of each month looks at the jobs growth in the previous month from the private sector. August posted a flat 0, failing forecast of 74K. July’s was also revised down from 117K to 85K. The poor data invites risk aversion and higher prospect of QE3. USD crosses were schizophrenic. CAD-weakness held tighter, but eventually pared. CHF strength also pared…
The Swissie continues to shed strength, and in an aggressive manner. We saw consolidation and congestion patterns break at the end of last week, and price action is following through to start this week. Let’s take a look at the breakouts in the USD/CHF, EUR/CHF, GBP/CHF and CHF/JPY charts…
The Philly Fed Index, which is an indicator of manufacturing in the Philly fed jurisdiction (includes Washington DC and Maryland), and is a proxy for overall manufacturing in the US, came in -30.7 for August, with expectation of 4.0, an improvement from 3.2 in July. Below expectation would be an understatement, and the market is probably going to have a hard time digesting this…
The USD/CHF is at record lows, and we have to use the weekly chart to see long term wave ratio analysis in order to check some targets.Here we see that taking the swing from the November 2005 high to the March 2008 low, and projecting from November 2008 pivot, 150% expansion is just above 0.6800…
In the last video update of the S&P 500, the market was in a ranging mode, with some bullish action. However, it was noted that after an ABC correction, a rally could be a bull trap for another ABC, or another corrective structure. So far this past couple of week’s price action has shown that the extended correction scenario has materialized, and even giving initial signs for a bearish reversal…
The Swiss Franc has been a favorite during risk-off trading, where the market wants to find safe haven. We have seen the EUR/CHF, GBP/CHF, and USD/CHF all make record lows in July. As we enter the last week of the month, we take a look at this month’s these Swiss-Franc-Crosses as they have come back from the record lows for some consolidation or correction…
Ahead of the EU Summit in Brussles, Angela Merkel tried to lower expectations after the Greek finance minister Evangelos Venizelos was quoted that “reaching a solution is attainable”. The market is buying into some of that optimism as it lifts the euro across the board. Let’s take a look at the setups in the EUR/USD, EUR/GBP, EUR/JPY, and EUR/CHF charts to assess the technical situation before this important risk event…
Financial markets jumped on the fact that Bernanke talked up the need for further stimulus measures in the US. This was a USD-negative statement, and also pushed up commodity currencies like Aussie (AUD), Kiwi (NZD) and the Loonie (CAD). Let’s take a look at the technical development in these currencies against the greenback…
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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