Weekend Technical Analysis – July 18th

Triangles 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 [...]

Forex 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 [...]

EUR/USD made a major push this week and broke through 1.50 but was unable to close above there. Main support is still 1.4850 area for now but a daily close above 1.50 should bring euro bulls to the table. GBP/USD made a huge move which looked to me to be profit taking and/or [...]

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 [...]

Dollar 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 [...]