By Jonah S. Ford A nice technical breakout was spotted by Autochartist in the silver market early in Tuesday’s trading session. Following a prolonged move higher inside of a textbook Channel Up chart pattern, the price of the nearby silver futures turned lower to breach the trend line support and trigger the sell signal. As…
The EUR/USD bounced off the 1.3077 support but failed to reach new highs yesterday, and instead slid during the 1/31 European – US session. The decline was sharp, and it broke the 1.3077 pivot as well as the rising channel, now testing the 1.3050 pivot. Note this was resistance for the Jan 23-25 consolidation, and also the 200 hour simple moving average…
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 AUD/USD rallied from the 1.0525 pivot yesterday, staying in a rising channel (seen in the 4H chart), and advancing back to last week’s high near 1.0683. Failure to break above and a subsequent decline in the US session sets up a range between 1.0525 support and 1.0683 resistance, with central pivot near 1.06. The 1H chart shows the market testing the central pivot…
The GBP/USD respected the 1.5660 even though it cracked it at first. The RSI reading in the 1H chart also came back above 60, after failing to sustain a break below 40. The bullish bias and momentum was held, and the market rallied above the range high at about 1.5737, and even cracked the 1.5770 resistance pivot, which is seen more clearly in the daily chart…
The 1H EUR/JPY chart shows a market anchoring out of a declining channel after finding support at 99.98. Considering that the market had been bullish before the channel started from 102.20, we can say the market has completed an ABC correction and is either in a bullish continuation, or in a wave X that connects more corrective patterns…
The EUR/GBP is declining in the short-term falling from a wedge pattern resistance since Friday. The week started respecting the 1H 200 simple moving average as seen in the hourly chart, but is now cracking it heading into the 1/31 US trading session as well as making a new low for this week. A swing projection targets 0.8325 in the very short-term term (in the US session)…
The NZD/USD had a very choppy day during the 1/30 US session, at the end of which there was a quick spike to the downside and an immediate recovery. In the 1H chart, this shows up as a double bottom. As we enter the 1/31 Asian session, the market rallies above this bottom and is looking to continue the uptrend. The short-term resistance is at 0.8248, last week’s high…
By: Dima Chernovolov CHF/JPY has recently completed the Triangle chart pattern identified by Autochartist on the 4-hour charts. The overall Quality of this chart pattern is measured at the 4 bar level which reflects the following values of the individual contributing Quality indicators: low Initial Trend (rated at the 2 bar level), below-average Uniformity (4…
The EUR/USD fell from 1.3233 to start the week, back to important levels that acted as support last week. Now this 1.0370-1.0380 support area is also reinforced by a rising channel support, which means the break below it will be even more significant. Also the difference between this test and last week’s is that the 1H RSI last week respected 40, and kept the bullish momentum, where today…
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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