DRodriguezFX

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Joined DRodriguezFX
Markets Allocation
58 % forex 42 % other
Top Mentioned Symbols
EURUSD 23% | 4 USDOLLAR 23% | 4 XAUUSD 11% | 2 USDJPY 11% | 2
DRodriguezFX DRodriguezFX USDJPY, W, Short ,
USDJPY: USDJPY to fall further as it trades sharply below 52-week SMA
581 3 14
USDJPY, W Short
USDJPY to fall further as it trades sharply below 52-week SMA

The tide has turned on USD/JPY as the pair trades sharply below its 52-week Moving Average. Said moving average has been a strong marker of trends in the USD/JPY for the past two decades, and staying below the 52W SMA keeps our focus lower.

DRodriguezFX DRodriguezFX XAUUSD, D, Short ,
XAUUSD: Gold coiling up for major breakdown
1474 14 6
XAUUSD, D Short
Gold coiling up for major breakdown

Gold is testing a key trendline as it's remained in 'neutral' territory for its longest stretch since 2010. A breakdown targets a much larger decline and a resumption in the multi-year downtrend.

DRodriguezFX DRodriguezFX USDOLLAR, 60, Short ,
USDOLLAR: USDOLLAR rejects former support-turned-resistance
196 0 6
USDOLLAR, 60 Short
USDOLLAR rejects former support-turned-resistance

Dollar seems to be on pace for further losses. There's a lot of noise surrounding Greece, but my favored USD-shorts remain the Euro, Sterling, and Japanese Yen (as per yesterday's report: http://www.dailyfx.com/forex/technical/ssi/table/2015/06/18/ssi_table_story.html?CMP=SFS-70160000000NbT3AAK

DRodriguezFX DRodriguezFX USDOLLAR, 60, Short ,
USDOLLAR: Dollar Index continues to look lower as it hits channel lows
60 0 2
USDOLLAR, 60 Short
Dollar Index continues to look lower as it hits channel lows

A break below 11790 doesn't offer much in the way of meaningful support until 11740, May lows near 11630.

DRodriguezFX DRodriguezFX EURUSD, D,
EURUSD: Euro Implied Volatility Underlines Clear Risk of Big Moves
139 0 4
EURUSD, D
Euro Implied Volatility Underlines Clear Risk of Big Moves

This chart highlights the implied volatility range from Euro/US Dollar FX Options pricing ahead of critical European Finance Ministers meeting as well as the highly-anticipated US Federal Open Market Committee interest rate decision. Data source: Bloomberg Professional Service Calculations: David Rodriguez of DailyFX.com

DRodriguezFX DRodriguezFX USDOLLAR, 60, Short ,
USDOLLAR: Risks remain to downside for Dow Jones FXCM Dollar Index
259 0 5
USDOLLAR, 60 Short
Risks remain to downside for Dow Jones FXCM Dollar Index

As an update of the pattern highlighted last week, the Dollar finished below key Fib support and trades just above the 50% Fibonacci retracement of its May-June advance.

DRodriguezFX DRodriguezFX AUDUSD, 60, Short ,
AUDUSD: Remain bearish AUDUSD below $0.7800
418 0 3
AUDUSD, 60 Short
Remain bearish AUDUSD below $0.7800

The Australian Dollar has bounced, but $0.7800 remains significant volume-based resistance (https://twitter.com/DRodriguezFX/status/608641706720899072/photo/1 ) as well as a key Fibonacci level and previous reaction-high. Our bias remains bearish below.

DRodriguezFX DRodriguezFX USDOLLAR, 60,
USDOLLAR: DJ FXCM US Dollar Index (USDOLLAR) Testing key near-term support
159 0 1
USDOLLAR, 60
DJ FXCM US Dollar Index (USDOLLAR) Testing key near-term support

The technical picture looks constructive on the USDOLLAR, but how it reacts at former reaction highs/congestion near 11950 will likely determine short-term direction. Thus far it continues to hold, and staying above keeps our eyes on the 12,000 mark.

DRodriguezFX DRodriguezFX USDJPY, D, Long ,
USDJPY: USDJPY Moves in fits and starts
436 0 3
USDJPY, D Long
USDJPY Moves in fits and starts

The USDJPY looks to be finally breaking out of its range. I wrote about my trade preferences here: http://www.dailyfx.com/forex/analyst_picks/todays_picks/david_rodriguez/2015/05/27/forex-trading-US-Dollar-versus-Japanese-Yen.html . Put simply, when the USDJPY goes it really goes. Given the overall uptrend I think it's reasonable to expect a test of 125.70 at ...

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