Hi guys, both the short term and long term barometers are tightly bunched near the 50 level. Expect some big moves. If not today, then beginning of next week.
The AUD continues to sell off, but the cycle (higher highs and higher lows) suggests a rally soon. Keep an eye on key price levels.
This is not investment advice, just my opinion(s). Please trade...
Hi guys, I wanted to take a look at the EUR on a large time frame and I was surprised at what I found. I figure I would look at the other currencies and post my results.
Here is a look at Macro on the Market Barometer. Keep in mind that we are looking at very large time frames, but... the long term trend predictions tend to be very accurate. I broke down each...
Hi guys, the short term market barometer has some nice divergence and should provide some trade set-ups soon. The AUD and JPY are over-sold and ready for a 'short term' consolidation. The EUR and USD are both should strength, however, the EUR recently pushed above 80, so we may see a short term consolidation before the next push up.
The CHF, GBP, CAD and NZD are...
Hi guys, the long term market barometer is showing another possible push to the down side for the USD. Both long term down trending resistance and short term up trending resistance held during the last consolidation. This suggests more weakness and another push down near 20.
I'll update if the USD reverses above either resistance level.
This is not investment...
Hi guys, after yesterday's FED USD dump, we have a few currencies to watch. However, most of the currencies are still hanging out around the 50 level (short term top chart, long term bottom chart).
USD - not surprisingly, we are seeing more selling beginning to build. Yesterday's push was massive, but it's not over. Expect more selling today, followed by a...
Hi guys, the Market Barometer has been in consolidation mode after the big EUR push and NZD sell off. All currencies are bunched at the 50 level and ready for a big move. The AUD is the first out of the box and seems to be gaining strength. I would expect a strong AUD over the next few trading sessions. As for the rest; it is unknown, but I'll post as soon as they...
Hi guys, the GBP and NZD are basically doing the same thing, so I lumped them together. The NZD has a more dynamic range, but that's about it. Both are in a down trending wedge and ready for a breakout. If you noticed, most of the currencies are getting to the end of a pattern and ready for a larger breakout. This doesn't happen very often (1 or 2 time per month...
Hi guys, if you've been trading the AUD roller coaster, then you've probably got a few new gray hairs, lol... The AUD has been on a wild tare ranging from the extreme lows to extreme highs and it is not finished. Unfortunately, we are currently sitting in the middle of the range, so no clear bias. Since we recently hit an extreme high, my prediction is continued...
Hi guys, this might be the most important currency to update. The EUR has been ranging inside an upward channel for a couple of weeks. The EUR recently punched below support and is pushing down. The EUR bears will be happy. We should see continued EUR weakness for the next couple of weeks. The EURUSD will be a mess to trade (because both sides are bearish). With...
Hi guys, the CHF has a nice setup. After the recent push long, the CHF is sitting at down trending resistance and it just make another small push up. Watch key price level for the CHF pairs. Weakness is more likely for the CHF (which makes sense because Gold is weaker right now). If the CHF breaks above the down trending resistance, it will rocket, so keep tight...
Hi guys, the USD is building to the end of a huge wedge. We have more downside room at the moment. There is equal pressure short/long (unity). We have to wait for a break outside the wedge before we can guess a longer term direction. For now (short term), the bias should remain short.
This is not investment advice, just my opinion(s). Please trade...
Hi guys, it is helpful to turn off the other currencies and drill down a bit. The CAD is building for a push to the upside. We should see an over extended push up soon. NFP may tweak the time line a bit, but the push will happen. Look for a good place to short the EURCAD.
This is not investment advice, just my opinion(s). Please trade accordingly.
Trade safe and...
Hi guys, here is my weekly macro update for the barometer. This is a daily time frame, so we are looking at macro level currency trends. We want to use lower intervals to time our trade entries, but the macro view helps us understand what to expect over the following week(s).
AUD - the AUD formed a double top in Feb, then broke down below support and is below the...
Hi guys, the USD is finally turning on the long term barometer (bottom chart). I would expect USD weakness over the next few trading sessions.
The JPY is weak, but getting close to being over-sold. The short term barometer is about to register a double bottom. Expect some of the JPY pairs to consolidate soon, then push back in the direction of the trends (i.e....
Hi guys, most of the currencies on the long term barometer (bottom chart) have consolidated near 50 and ready for a push. Typically, the moves away from (bounces) or through the 50 level are pretty big. The AUD just made a move 'through' the 50 level and it looks like the JPY might be next. We'll see.
The GBP was over sold and is in the process of a consolidation...
Hi guys, this is a daily chart view of the market barometer. I'll try and post one of these each week. We don't always get a lot of useful info from the daily barometer, but today we do. The JPY is extending up. Remember, this is a 'daily' time frame (think slow motion). The JPY has a LOT of room to run to the upside before it would be considered over extended....
Hi guys, the NZD is headed neared over-bought. Not sure why, but it is. Kind of a random move for this currency, so I figured I would post an update.
What does this mean? Nothing long term. The NZD has a ton of room to run long term (bottom chart), but the NZD will bounce soon on the short term. Wait for the pull back, then enter if you are buy the NZD.
This is...
Hi guys, the short term barometer (top chart) has an 'unnatural' pattern. I've see this before. After a quick push like this, the market usually snaps back in the other direct. These pushes are usually quick with very little consolidation. Just like now.
On the long term (lower chart): the EUR and AUD are over extended in opposite directions. The EUR is...
