The Euro tried to rally during the trading session on Tuesday, as the 50 day EMA causes a lot of resistance, and it now looks as if it’s going to hold this market to the downside. The shooting star of course is a negative sign, and it looks likely that we are probably going to continue to show downward pressure given enough time. Beyond that, the crude oil markets...
The US dollar has risen again against the Swedish krona, testing the 9.9 level during the day. We are well above the 50 day EMA, and now threatening to make a fresh, new high again. Ultimately, this means that the market will probably go looking towards the 10 SEK level, an area that will of course attract a lot of attention as it is such a large, round,...
The Australian dollar has rallied for the last couple of days, initially forming a hammer at the bottom of the recent trading range on Wednesday. By reaching higher again on Friday after the jobs number, it appears that the market is going to eventually find resistance above though, as the 0.68 level has offered quite a bit of selling pressure. With that in mind,...
The British pound initially tried to rally during the trading session on Tuesday but then broke down from the ¥133.27 level. At this point, the market looks as if it is running toward the downtrend, and at this point the overall monetary flow continues to reach towards safety. This was really kicked off as the ISM numbers in the United States came out weaker than...
The Euro broke down significantly during the training session on Monday as the week has opened dollar positive. By breaking below the 1.09 level, it looks as if the US dollar will continue to strengthen overall, much to the chagrin of buyers of the Euro. That being said, there are a whole plethora of reasons for the Euro continuing to go lower, not the least of...
The Euro has had a strong session on Friday, breaking above the top of the shooting star from the Thursday session and testing the 200 day EMA. At this point, what’s particularly telling about this session is that the market seems to be quite comfortable at this level, unlike previous sessions that it has pulled back from. With that being the case it’s very likely...
As the British Prime Minister Boris Johnson was handed a defeat in court, allowing the UK parliament to get back to work, the British pound got a bit of a pop higher during intraday trading on Tuesday. Having said that, the market has given back quite a bit of those gains, and a sign of real weakness when it comes to the British pound longer term. The British...
The New Zealand dollar rallied slightly during the trading session on Monday in an attempt to recover a bit of the losses. We have seen this pair become really parabolic in both directions lately, so a bit of a “dead cat bounce” could possibly be coming down the road. If it does, the 50 day EMA should start to offer resistance above, but just as that is potential...
The New Zealand dollar has fallen again during the trading session on Friday against the Japanese yen, as we are more than likely going to continue to reach towards the lows recently seen. The 50 day EMA offered resistance before we got the massive gap lower to kick off the week, turned around to fill that gap, and have been falling ever since. This suggests that...
The Euro rallied a bit against the Japanese yen early on Tuesday to fill the gap from the weekend open. This is quite common in the Forex market, and quite often will attract selling once we get to the top of that gap. Ultimately though, if we can break above the ¥120 level it’s likely that the market could continue to go a bit higher. Looking at the 50 day EMA...
The British pound has pulled back a bit during the trading session on Monday as there was a flight to safety in the Forex markets, lifting the US dollar against most currencies. Beyond that though, the British pound had been a bit overextended as we reached towards the psychologically important 1.25 level. The market had been parabolic for a while and quite...
The Euro has rallied significantly during the trading session on both Thursday and Friday, reaching towards the crucial 50% Fibonacci retracement level against the Canadian dollar. It is at roughly 1.4720, but above there we have a significant amount of noise based upon order flow lately, and of course the 1.4750 level. The 50 day EMA is in the vicinity as well,...
The New Zealand dollar has rallied over the last couple of weeks, forming a “V bottom.” That being said, we have also seen a lot of exhaustion over the last couple of days, and it now appears that we are likely to break down due to the fact that the 0.6450 level has been so difficult to overcome. The shooting star from the Monday session is a hint that we are...
The New Zealand dollar tried to rally during the early hours on Monday but has struggled against the Canadian dollar. This makes quite a bit of sense considering that we are in such a massive downtrend, but ultimately another thing to pay attention to is that the oil markets are trying to break out. With that in mind, it makes sense that the Canadian dollar is...
The US dollar has been stymied at the ¥107 level again, as traders have been chasing stock performance. Remember, this pair tends to move right along with the risk appetite of equities traders, specifically the S&P 500. As the S&P 500 looks like it’s trying to break out, we could get a substantial move, but it’s not until we clear the last couple of highs that one...
The Japanese yen has been one of the better performing currencies around the Forex world for some time as we continue to see a lot of tensions between the United States and China flare up. With the addition of tariffs again this past weekend, it makes sense that more people were running from the relative safety of the Yen. Beyond that, we have the Hong Kong...
The Euro has had another poor week, breaking down towards the 1.10 EUR level against the greenback. This is an area that should offer quite a bit of support, but at this point there’s nothing on this chart that suggests that we are going to change the attitude of this pair. But frankly, there’s no reason to think that we will, because the fundamentals do not...
The Australian dollar has gone back and forth in a 50 pip range for two weeks. Unfortunately for most traders, they look at this as a very difficult market to trade but quite frankly if you are willing to grind down towards a 15 minute chart, it gives you the ability to pick up quite a bit of profits. If you are short-term trader, we have a clearly defined box to...