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 [...]

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 [...]

Equities rallied hard just as expected.. Nice move in SPG . I did a trade with options as well as stocks on this but I’ll just mention the stock trade since the option trade didn’t really work out. I bought 200 shares @ $50.90 in my IRA with a stop at $50.12 relatively low risk trade [...]