Oh how the mighty have fallen.. The Euro once again does not fail to disappoint. Currency and Equity markets are almost caught up. This coming week will be critical.
The descending triangle on $EUR/USD broke down nicely and had a bearish close this week below the 1.20 level. I closed my short position @ 1.1977 and looking for a little more of a breakdown to possibly at 1.193 for a decent bounce point to at least 1.233. However there is no denying the possibility for a break down to 1.18-1.16 in the near future. $GBP/USD seems to have firm support at 1.425 and has been trading sideways for a few weeks. $AUD/USD double top playing out with a triangle on the daily which can possible take you down to 0.76 in the near term.
Look for a little Yen strength early on this week
-
Forex Technical Analysis – Jan 30th 2010
31 January 2010 9:40 AM | View CommentsForex has bee pretty awesome lately. Currencies have been trading ahead of the equity markets leading the way down for a correction. EUR/USD finally hit my target at 1.3880. No real solid Support here going to see if it can break down another 200 pips to 1.37-1.36. Another note to bring point [...]
Read More -
Weekend Technical Analysis – Forex – July 25
24 July 2009 4:50 PM | View CommentsTriangles in EUR/USD and GBP/USD are still intact somewhat. Both are still within the larger Rising Wedges *Yellow dashes. Every break above 1.4230 was sold into every time though managed to get above 1.4250 (which is a pretty good resistance level) multiple times. Cable (GBP/USD) is up against stiffer resistance and looks to want to [...]
Read More -
Weekend Technical Analysis July 4th 2009 – Forex
04 July 2009 10:04 AM | View CommentsThis was one crazy week in all markets. To recap Monday morning we had ramp job in Crude due to a Short Squeeze. Apparently a “Rouge Trader” was short 9000 QM Futures contracts lol. It was an obvious short squeeze because at the time crude was ripping, currencies were just sitting there [...]
Read More -
Weekend Technical Analysis – Equities June 1st 2010
30 May 2010 6:20 AM | View CommentsWelcome back Mr. Volatility and thank you for sticking around this time! Buzz Words for May: contagion /kənˈteɪdʒən/ [kuhn-tey-juhn] – noun 1. the communication of disease by direct or indirect contact. 2. a disease so communicated. 3. the medium by which a contagious disease is transmitted. 4. harmful or undesirable contact or influence. 5. the ready transmission or spread as of an [...]
Read More -
Weekend Technical Analysis – Forex – August 2nd
02 August 2009 9:19 AM | View CommentsDollar was sold off sharply on Friday sold the Dollar after the government reported a lower than estimated decline in 2nd Quarter GDP. Today’s number suggests that the U.S. economy is closer to a recovery. This triggered greater demand for higher risk, higher yielding assets. Month-end flows look to be the one of the driving [...]
Read More
