I had this chart inside my EURNZD roadmap chart, but decided to publish it to keep track of the moves as they unfold. Time at mode signals an uptrend, I decided to attempt labeling this with EW, but it was a pretty complex exercise, so I will adapt my friend's Nick Coulby's (www.tradingview.com) wave count to my time at mode chart for illustration. There's a nice...
Informational chart only. If we cross the level price sits at confidently, we might retest lower areas, around the 0.63043 mark. I'll update with a shorter timeframe short entry. Currently in the middle of a very strong decline with no pause. Looks to be impulsive behavior after a long term consolidation. The triangle in CCI is wild speculation, but makes me think...
We can expect to buy a retracement and ride it to at least one of the two targets above. Positive carry quickly adds up while you hold the position open, be it in profit or a drawdown, as you wait to hit your target. I'd like to go long here, but need a retracement entry. Patience is a virtue they say...
Gentlemen, the SNB has done it again! As you can see, this isn't the first time their sudden intervention causes a disruptive gap which ruined thousands of people in one day. RIght now, there is a clear uptrend in place, showing new highs every 5 candles, and nice accumulation before sudden bursts of impulsive upwards action. There are hints at the possibility of...
The Swiss franc is lower on the day amid speculation that the Swiss National Bank (SNB) will intervene in the foreign exchange market in order to actively weaken the currency. As you can see by the comparison, gold tracks the Swissy rather closely. Interestingly enough, gold's all-time high of $1,923 ended at about the same time the SNB decided to peg their...
Good question. A pretty weak currency, versus, clearly, the strongest. USDOLLAR is flying high, and the greenback has seen increases in 11 of the last 13 weeks. This is certainly reflected in the EURUSD which is dropping like a stone, and where there may be some time between significant setups, simply because of the speed of the drop. SNB’s stunt resulted in a...
On January 6, I noted how the price action technicals were beginning to favor gold (here). Since, gold has begun to rally with force on both a global growth slowdown and increasing market turmoil. Naysayers will continue to hate gold, but both fundamentals and technicals remain supportive. The surprising (maybe not so much) move by the Swiss National Bank to...
SNB is currently under pressure with the current attack of the 1.20 floor on EUR/CHF. Not maintaining this floor would represent a serious credibility risk for the Swiss central bank. According to recent comments from Danthine and Jordan they will do everything to maintain the floor even using "unconventional measures" (like negative interest rate or ultimately...
Entered EURCHF long at 1.2060 (76.4% of Sep H-L fib level - 1H bars seem to be adhering generally albeit with occasional false breakouts) 1.2050 was previous bid zone - triple bottom from Sep 14 onward Also market seemed to established the floor since Q4 2012 after SNB's 1.20 commitment Target 1.2110/20 area - between top of daily cloud (1.2110) and previous high...
Friends, At this point, markets seem to have leveled off. In fact, USD started to rally, as it gains strength against most other currencies, except against the EURUSD, whose high of 1.38981 has remained unchallenged even after US markets closed. A look at a reverse correlated USDCHF, my predictive analysis and forecasting system remains neutral for the time...