ForexYell

ForexYell

KRWJPY Breaks Ichimoku Support on LT Charts on South Korean exports in August plunging nearly 15% from a year ago

ForexYell

USDBRL has found itself back at all-time highs as China’s weakness is most clearly seen in this region in Brazil. Mondays in the month oil run or ‘OPEC rally’ propped up a few LATAMFX currencies against the US dollar most notably the Colombian peso, which dropped significantly on light liquidity as oil rose nearly 25% and a three day span alongside with USDMXN,...

ForexYell

EURZAR is Up Nearly 6% in the Last Week

ForexYell

SPX500 Makes a Run Below the 12-Month / 52-Week Moving Average

ForexYell

Oil popping to a 1-month high has traders in awe. Amazingly, we're nearly 30% off the lows from 'Black Monday'. However, we're nearing resistance. at $49.70, the 55 day moving average. This makes the September Opening Range all the more interesting as the subsequent break out should give us further discussion for setting up a bias. Please note this is month end...

ForexYell

Polarity Points are key in markets as support turns into resistance. They are simple and effective ways to see when market sentiment is changing

ForexYell

USDJPY at Short-Term Resistance, if it is Overcome, new highs may soon be ahead.

ForexYell

The direct implications from CNY devaluation as other EMs calculate and see both the impact of a depreciation from a large competitor and the potential underlying demand weakness that it reflects. The interplay of China concerns, commodity weakness and EM imbalances had already intensified the weakening trend in EM FX over the past month. The CNY devaluation,...

ForexYell

USDMXN opened lower and looking to show exhaution in the near-term moving from 17.20 to a low near 16.90. MXN may outperform further, which says little given it's recent loss if Banxico’s willingness to intervene in FX if founded. It's best to watch Oil for longer-term direction. there is support intraday in the 16.85 area.

ForexYell

USDZAR lower by 1.3% on China Move. Coming into all time high at 13.84 from 2001

ForexYell

We could be on the cusp of a downturn in housing if the XHB ETF is any indication. We're turning lower off the 78.6% Fib from the 2006 High. A Break below 28 would favor a deeper / more painful move is ahead.

ForexYell

Bias: Bearish AUDJPY Toward Weekly S2 Point to Establish Long Exposure: At Market Target 1: 90.40 weekly S1 Pivot Target 2: 89.20 Confluence of Weekly S2 Pivot & TL Support Invalidation Level: 92.75 Weekly R2 Pivot and Last Week’s High Fundamentals: The commodity story continues to paint an ugly picture for the Australian dollar. Institutions recently have cut...

ForexYell

EURAUD could make a push to new highs for Summer of 2015 as EUR crosses are breaking out across the board and AUD is down heavily on the CNH devaluation. RBA cuts are getting priced in again and EUR has consistently held support. Even of the strongest trends, EURGBP looks to breaking from a falling wedge, which is a bullish development. Impulsive push higher...

ForexYell

Bias: Bearish Toward Channel Low & Fibonacci Target of 0.6932 Point to Establish Short Exposure: Close below last week's low of 0.7234 Invalidation Level: Channel Resistance & July 21 High of 0.7450 Target: 0.6932 Commodities remain under pressure and many economies directly related to Australian's economic health continue to show depreciation. Fundamentally,...

ForexYell

Bias: Bullish Toward Channel Top Near 127 Point to Establish Long Exposure: Into Ichimoku Cloud in the 122.18-123.06 region Invalidation Level: Channel Low & 100-dma 121.55 Target: 127+ The JPY has strengthened vs. the USD ~0.5% on the weekly open after China's Shanghai Index dropped 8.6% to open the week. However, the risk-off sentiment seems to be...

ForexYell

EURUSD potentially posted a double top near 1.1450 in May and June. As per FXCM real volume, the secondary top happened on relatively weak volume to the first top. We are approaching the double top neckline at 1.0819. Traders will be watching a close below there which would put an end to the corrective series of higher highs and higher lows seen since March and...

ForexYell

A move above psychological resistance in the 1.3000 area would confirm upside towards overall targets are near the 1.3065 multi-year highs. Further out, A 1.618 Fibonacci Extension opens up a move towards 1.3465. From a sentiment point of view, The ratio of long to short positions in the USDCAD at FXCM stands at -2.96 as 25% of traders are long. Yesterday the...

ForexYell

Simple techs favor EURUSD momentum carrying the pair lower. EURUSD has fallen below the 200 hma, 10 & 21 dma as well as daily RSI remains bearish. Additionally, price has been sideways since March 13th after a one-way market went on hold. Additionally, 3-month implied volatility on EURUSD looks like it could be breaking out higher. This is similar to a move...