alan3cA

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Yesterday's bullish call was confirmed as investors bought EURUSD to higher levels for a 2nd day in a row. Most importantly this move took the currency pair back above the key 13 day mvg avg, and last Wednesday’s Marabuzo line. The scope of the move from Friday’s low means signals for sentiment are overbought. This may lead to a reactive move, especially after...

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Trading in CABLE Monday was muted. A range of 80-pips kept the currency pair tightly inside Friday’s parameters. This indecisive ‘Inside’ day clearly shows some uncertainty but it is the lack of a positive rebound that emphasises that the undertone remain negative after last week's completion of a Bearish Evening Star pattern. With this in the background, this...

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The setback from January’s 19 month highs deepened last week. Sold at lower levels for a 2nd week in succession selling pressure accelerated. Losses of more than 3 ½ big figures was the most negative since October. Importantly this decline also took the currency through the 13 day mvg avg, with rallies in the latter part of the week finding sellers at that point....

alan3cA Updated 

Sterling generally was volatile in the latter part of Thursday and CABLE was no exception. Bought at similar levels to the 2 previous days became aggressive with the market rising by more than 2 big figures. But the highs were almost equally powerfully rejected as fresh sellers emerged above the 13 day line. This left prices with only modest net movement but it is...

alan3cA Updated 

Yesterday's report highlighted a lack of clear direction for investor sentiment but also the support of a Marabuzo line created Jan 24th. These conflicting signals were emphasised by price action that kept EURUSD in a narrow range and, for a 2nd day in a row, limited net movement. Despite the underlying positive Keltner channel, immediate studies cannot be strong...

alan3cA

Trading was volatile in EURUSD Tuesday. An early positive reaction to 2 days of strong selling saw a bounce from the 13 day mvg avg that lacked the momentum to test Monday’s highs. But a renewal of selling interest was unable to maintain levels below the 13 day mvg avg and a Marabuzo line created Jan 24th. The result was limited net movement and a stalling around...

alan3cA Updated 

Conflicting signals at the end of last week meant that this week’s outlook was neutral. That situation was resolved with, after an Asian dip, a renewal of investor demand. This took USDCAD more than 1 ¼ big figures higher – to new 4 week highs. The scope of the move means intraday signals for sentiment are overbought, especially after further upside in Asia, but...

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In line with yesterday's bullish call, an initial setback attracted fresh investor demand. The result was gains of more than a big figure, a 3rd up day in a row and the most positive closing price of 2018. Once again, overbought extremes are a cause for concern, but currently setbacks are bought, although the depth can be difficult to determine. So, this morning’s...

alan3cA Updated 

Despite being bought higher initially Tuesday, a sequence of 3 up days ended. Fresh selling interest emerged above the 13/200 day mvg avg area with the resulting decline leading to the production of a Bearish Outside Day – a negative formation that point to a renewal of selling pressure. So this morning’s call is a Sell at .8770 but leaving room to also Sell at...

alan3cA Updated 

Against a background of negative weekly signals for sentiment, early price action Monday saw a positive reaction to last week's losses. But that profit taking rally was a minor one and , with sellers reasserting, net movement on the day was minor. This, despite some Asian demand, keeps the technical focus on the downside and so this morning’s call is a Sell at...

alan3cA Updated 

This week’s initial tentative buying dip scenario changed to more aggressive investor demand yesterday. Gains of more than a big figure drove EURUSD to new 3 year highs and to the top of a rising Keltner channel. After 5 consecutive up weeks, further gains mean that signals for sentiment are over-stretched especially after Asia kept this move going. This...

alan3cA Updated 

Yesterday's bearish, and sell rally, forecast had some success. Early trading attempted to resurrect last week's upside but levels above the 13 day mvg avg again, for a 3rd day in a row, found fresh selling. So although net movement was minimal, the capping of demand near that average line keeps immediate technical studies negative. So this morning’s call is a...

alan3cA Updated 

As expected Friday’s minor profit taking was entirely reversed as buyers returned to CABLE Monday. Our first weekly target was met as new 19 month highs were posted. These strong gains of almost 1 ½ big figures mean signals for sentiment are overbought but with prices tracking the Keltner channel higher we continue to look for profit taking to be temporary and...

alan3cA Updated 

Mixed signals for EURUSD currently. Wednesday’s strong profit taking decline was not extended yesterday but the resulting renewal of demand was limited. Net gains reversed only half of the previous day’s net fall and, despite the backdrop of a rising channel, this means that immediate studies are more difficult to analyse. Nonetheless, Asian gains have indicated a...

alan3cA

A renewal of Asian selling yesterday confirmed our bearish call. But the resulting downside lacked the momentum to break below the overnight low and, towards the end of the day, more significant profit taking resulted. Net gains were not extensive, but enough to end a sequence of 5 down days and although Asia has seen modest downside, our studies are left...

alan3cA Updated 

Against a background of bullish weekly signals for sentiment, CABLE continues to track the upper band of a rising daily Keltner channel. There was limited movement in this currency pair Tuesday but it is the buying of a modest profit taking dip that emphasises the underlying tone. Therefore, this morning’s call is Bullish fat 1.3765 but leaving room to also buy a...

alan3cA Updated 

Our first weekly downside target was met Monday as last week's decline deepened. A 4th down day in a row resulted, correcting more than 62% of the Sep-Nov rise. The scope of these moves mean intraday studies are overstretched but with USDCHF tracking the daily Keltner channel lower, rallies are expected to be temporary. In light of this, but with a good deal of...

alan3cA Updated 

Two consecutive daily closes below the 13 day mvg avg did not have the negative impact assessed. Instead, fuelled by the ECB, buying above 1.1900 this time translated into a strong improvement of more than 1 ¼ big figures – taking EURUSD comfortably above the 13 day mvg avg. Despite volatility concerns, we look for this upside to extend and so this morning’s call...