The Federal Reserve has recently suggested that they were going to cut interest rates, and at this point it isn’t necessarily a question of whether or not they will during the month of July, but by how much and will there be more? With that in mind, it makes sense that the US dollar is starting to get hit against several other currencies around the world. The...
The GBP/USD pair has fallen during the previous week, breaking below the 1.25 handle. That’s an area that of course attracts a lot of attention due to the fact that it is such a large, round, psychologically important figure. The candle stick from last week of course is a hammer, and then show signs of support. If we can break above the top of that hammer, then...
The Euro has been falling against the Japanese yen for some time, which of course is that much of a surprise considering that the ECB is likely to continue with monetary easing. At this point, the Euro has been struggling against many other currencies around the world, but the Japanese yen of course is a safety currency. With all of the things going on right now,...
The Australian dollar continues to fall against the Singapore dollar as we have developed a reasonably reliable downtrend channel. This makes a lot of sense, because the Singapore dollar is quite often used as a bit of a safety currency in Asia, while the Australian dollar is so highly levered to the Chinese mainland. At this point, you can see that the 50 day...
The US dollar has been rallying quite nicely over the last couple of weeks against the Japanese yen after touching just below the ¥107 level. At this point, the market is pressing up against the 50 day EMA which of course is crucial, but beyond that we also have obvious resistance near the ¥108.75 level. With that being the case, it may be a bit counterintuitive...
The US dollar had a very strong session against the South African Rand on Friday after the jobs report came out much hotter than anticipated. In this is more or less a “risk off” move, or perhaps just a sign that people are starting to pay attention to the economies again. This isn’t so much about interest rate differential as it is about the possibility of global...
Over the last 24 hours we have seen a remarkable recovery in the USD/SEK pair, as we bounced from a major confluence of technical indicators. On the daily chart, we had been hovering just above the 200 day EMA for several sessions, but on Monday exploded to the upside. The candle stick was rather large, which of course is extraordinarily bullish, and making for an...
The Euro has initially pulled back during the trading session on Monday to kick off the week but also has turned around to show signs of resiliency again. By finding support near the 1.13 level, we then found ourselves closer to the 1.1350 level. This is a good sign, considering that we are so close to the 200 day EMA, and of course the fact that the 1.1350 level...
The Australian dollar has initially tried to rally during the trading session on Friday but then turned around to show signs of weakness. Beyond that, the market is hanging about the 0.70 level, which of course is a large, round, psychologically significant figure. Because of this, we would expect to see a bit of selling in this general vicinity. The market will...
The US dollar has initially tried to rally during the trading session on Tuesday but then turned around to fall towards the 9.25 SEK level. This is an area that has been important more than once as you can see in the past, but there are also a major confluence of indicators in this general vicinity as well. The market looks very supported in this area, but we are...
The British pound has rallied during the trading session on Monday but gave back a bit of the gains at the 1.28 level early on Monday. This is an area that you can see has offered resistance in the past, so the question now is whether or not we will roll over? Even though there is a potential bottom to the downtrend at the 1.25 level underneath, pulling back at...
Looking at the USD/CHF pair, you can see we have broken down rather significantly over the last several sessions, with a particularly negative candle happening during Thursday. Beyond that, we have recently broken through a major rising wedge, so that of course is a very negative sign. With that in mind, it makes sense if you think about it from a geopolitical and...
The US dollar initially fell against the Japanese yen in a bit of a “risk off” trade to reach down towards the ¥180 level. Ultimately, this is a market that has plenty of support underneath due to not only the ¥108 level, but the 61.8% Fibonacci retracement level as well. As you can see though, the market has fallen significantly only to bounce quite drastically....
The Australian dollar initially tried to rally on Monday but continues to sink against the Singapore dollar. This is essentially a “risk off” trade, as the Singapore dollar is basically the “Swiss franc of Asia.” With that being the case, this shows that risk appetite is struggling, at least when it comes to all things Asian. That’s not a huge surprise,...
The Euro initially tried to rally during the day on Friday, turned right back around to fall, only to find a lot of support underneath at which should be a major support region. Because of this, it’s very likely that we will find some value hunting in this area, as the Euro had recently broken out. When you look at the daily chart, it doesn’t take a lot of...
The Australian dollar fell during trading on Monday, as the crucial 0.70 level has offered resistance yet again. With that in mind, I believe that the market participants will continue to look at this area as massive resistance, and therefore this reaction should not have been a huge surprise. From here, it’s possible we could see a move down to the 0.69 level,...
Without a doubt, one of the most reliable trades has been shorting the British pound for some time. However, we are starting to see a bit of a difference in attitude, as we rallied a bit during the week. The 1.25 level underneath is massive support, and we are continuing to dance around the 61.8% Fibonacci retracement level, an area that should always catch your...
The US dollar initially fell during the trading session on Tuesday, reaching down towards the uptrend line underneath, which is coinciding with the 1.34 level underneath. That’s an area that is significant support in the short term, and of course with the uptrend line crossing through there suggests that the buyers are starting to make a bit of a stand here. The...