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74 % forex 15 % cryptocurrency 10 % other
Top Mentioned Symbols
AUDUSD 20% | 8 GBPUSD 17% | 7 ETHBTC 15% | 6 USDJPY 12% | 5
MFXSCharts MFXSCharts ETHBTC, 240, Long ,
ETHBTC: ETHBTC Momentum Picking up
113 0 7
ETHBTC, 240 Long
ETHBTC Momentum Picking up

We underestimated ETHBTC last week when we called for .133/.14. Pair traded all the way to .153, exceeding our measured targets, before pausing for a shallow correction. This is a very good sign: it means momentum is actually picking up. The last leg up far exceeded the prior two, in both price and percentage terms. We've been waiting for a deeper correction ...

MFXSCharts MFXSCharts ETHBTC, 240, Long ,
ETHBTC: ETHBTC to new record highs following wedge break
218 4 9
ETHBTC, 240 Long
ETHBTC to new record highs following wedge break

Ethereum has surged higher against Bitcoin following the wedge break we posted yesterday. ETHBTC traded as high as .122 in early Asia, before finishing the day and week at .1165; up 17.5% on the day, 20.2% for the week, 153.4% so far in Q2 and a whopping 1297% year to date. Break to new record highs opens up the path to the 0.133three - .14 zone where we have a ...

MFXSCharts MFXSCharts ETHBTC, 240, Long ,
ETHBTC: ETHBTC breaks out of wedge consolidation
148 0 6
ETHBTC, 240 Long
ETHBTC breaks out of wedge consolidation

Price action was a little disappointing following the Bullish Engulfing at the start of the week: over the next two days pair retraced all the way back down to the origin point and proceeded to consolidate in a wedge until Friday. On the bright side, the top of the .81 - .865 support zone we highlighted held up nicely and pair now appears to be back on the move, ...

MFXSCharts MFXSCharts ETHBTC, D, Long ,
ETHBTC: ETHBTC Engulfs Out of Former Resistance
146 0 5
ETHBTC, D Long
ETHBTC Engulfs Out of Former Resistance

Ethereum put in a solid up-day to start the week, engulfing Saturday and Friday's bear candles and briefly breaching Thursday's high. Fierce bullish reaction from the former resistance zone suggests buyers are still in control and we are looking for a retest of the highs and continuation over the coming days. Initial resistance is the record daily close at ...

MFXSCharts MFXSCharts ETHBTC, D, Long ,
ETHBTC: Another record close on ETHBTC
139 0 5
ETHBTC, D Long
Another record close on ETHBTC

Ethereum on the charge again after week of sideways against bitcoin. New record close. Up 157% from April lows, 972% year to date. Note moving averages, trend-line gradients steepening ... momentum's picking up. Initial resistance all time high at .0865, followed by .09 handle and psychological 0.1. Remains bullish above Saturday's low in the .065 region (former ...

MFXSCharts MFXSCharts ETHBTC, D, Long ,
ETHBTC: ETHBTC Channel Breakout
172 0 5
ETHBTC, D Long
ETHBTC Channel Breakout

Ethereum continues to appreciate against bitcoin: currently 0.0767, after trading as high as 0.0865 late Monday. Pair is up more than 100% from the April lows and appears to be gaining momentum, having broken out of an ascending channel on Sunday. Former channel resistance is now acting as support and has been tested twice, appears solid. Initial resistance is ...

MFXSCharts MFXSCharts USDJPY, 240, Long ,
USDJPY: Double bottom in play
106 1 6
USDJPY, 240 Long
Double bottom in play

USDJPY hit our initial 112.20 target last week, but strength was short lived and pair proceeded to retrace the vast majority of the move higher from 110. Pair has since found support and a double bottom appears to be in play. We are looking for a move back towards 112.20 over the coming days, with a break above there confirming the double bottom setup and ...

MFXSCharts MFXSCharts USDJPY, 60, Long ,
USDJPY: Inverse head and shoulders breakout
63 0 6
USDJPY, 60 Long
Inverse head and shoulders breakout

USDJPY has broken above the neckline of an inverse head and shoulders pattern and looks set to continue higher. Initial resistance is 111.60, with a break above there targeting 112.20 and 112.80. Immediate support at 111.20, with further support at 110.90 - a break below the latter would invalidate our bullish bias and turn us neutral on this pair.

MFXSCharts MFXSCharts USDJPY, 240, Long ,
USDJPY: USDJPY accumulating below 114.95/115
65 0 3
USDJPY, 240 Long
USDJPY accumulating below 114.95/115

The Dollar is extremely well bid against the Yen as we head into Non-Farm Pay Rolls and may even break higher before the number. We are anticipating an eventual move to 117 - 117.50 over the coming weeks, however, the path higher is far from clear. Initial resistance is 114.95/115, already tested earlier the session. The figure could well go today, but further ...

MFXSCharts MFXSCharts DXY, 240, Long ,
DXY: Dollar bulls attempt bounce from former resistance
19 0 3
DXY, 240 Long
Dollar bulls attempt bounce from former resistance

USD bulls are currently attempting a bounce from former resistance in the 101.05-101.30 zone after French election worries rattled the Euro. The index traded above the 61.8 fib briefly last week, but was rejected at the top of a zone which we had previously deemed inconsequential and finished the week back inside the wedge. Our preference is for a break back ...

MFXSCharts MFXSCharts DXY, 240, Long ,
DXY: Dollar Index gaps into interim resistance
28 0 4
DXY, 240 Long
Dollar Index gaps into interim resistance

The DXY US Dollar Index has gapped into interim resistance following an intense round of FEDspeak seemingly aimed at boosting expectations of a March hike. Chance of a March hike was less than 33% just a few weeks ago, but both voting and non-voting members have embarked on a full blown communications offensive over the past week, pushing expectations up above 60% ...

MFXSCharts MFXSCharts USDCAD, D, Long ,
USDCAD: Looking for a return to the highs
26 0 3
USDCAD, D Long
Looking for a return to the highs

The Loony seems well bid above ascending channel support and we are looking for a move back towards 1.36 over the coming weeks. Pair finished Friday higher, despite a stronger than expected Canadian jobs report and NFP miss. Support is a daily zone stretching from 1.3170 down to 1.3080, with ascending channel support confluence at 1.3147 and counting. A daily ...

MFXSCharts MFXSCharts AUDUSD, D, Short ,
AUDUSD: Dark Cloud Cover at TL resistance
32 0 3
AUDUSD, D Short
Dark Cloud Cover at TL resistance

The Aussie finished Friday lower, printing Dark Cloud Cover on back of stronger than expected annual wage growth in the US. Reversal candle occurred at falling wedge resistance / former support confluence and pair looks set to resume lower. Initial support is the .7296 - .7283 hourly zone, with a break below there confirming the top and targeting the lows above ...

MFXSCharts MFXSCharts USDJPY, 240, Long ,
USDJPY: USDJPY wedge breakout
62 0 5
USDJPY, 240 Long
USDJPY wedge breakout

Dollar Yen has broken out of wedge consolidation in quiet post-Christmas trade and looks set to continue higher. Pair has been trending up at an average of 250 pips per week for the past 7 weeks, but has been stuck in consolidation since setting a new 10 month high on the 15th of December. Today's break above the wedge top opens the path to 118.66, with further ...

MFXSCharts MFXSCharts GBPUSD, 240, Short ,
GBPUSD: Looking to sell strength on cable
28 0 3
GBPUSD, 240 Short
Looking to sell strength on cable

The cable continues to consolidate in the relative calm following the October flash crash. Pair is currently hovering above a minor trend-line, extending off of the October 28 low and may find support here and continue to range over the short term. Over the medium term; we're looking for a move lower, followed by bearish continuation and seeking to position ...

MFXSCharts MFXSCharts AUDUSD, D, Short ,
AUDUSD: AUDUSD enters former support zone
30 0 0
AUDUSD, D Short
AUDUSD enters former support zone

The Aussie broke through long term channel support in mid-November; falling nearly 300 pips in 3 days, before finding support above 73. Pair has since retraced approximately 61.8% of the decline from 7580 and is testing the .7440 - 75 former support zone. We are looking for a turn lower from here and an eventual break below the 5 month low at 7285. Alternatively; ...

MFXSCharts MFXSCharts GBPUSD, 60, Short ,
GBPUSD: Cable consolidates
69 0 4
GBPUSD, 60 Short
Cable consolidates

The Pound was looking very ominous through out last week, but bulls have managed to keep the pair supported thus far, carving a higher low. Pair is currently trading sideways, consolidating between 1.2135 and 1.2325. We expect aggressive selling on any rallies and await significant bearish continuation. A break below 1.2135 would target 1.2090 and the ...

MFXSCharts MFXSCharts AUDUSD, D, Short ,
AUDUSD: AUDUSD into major resistance
21 0 0
AUDUSD, D Short
AUDUSD into major resistance

The Aussie is back in the sell zone after bouncing from channel/zone support confluence on Thursday. We maintain a top is in place and remain bearish, awaiting an eventual break below channel support. Bears will be on the look out for sell signals on the lower timeframes, seeking to push the pair back below 76. Initial support is the .7650 - 76 zone, with a ...

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