Despite a better than expected German ZEW Economic Sentiment figure yesterday, the euro took moderate losses over the course of the day, after hitting four-month highs against the USD and JPY earlier in the week.
Market review for 17.09.12: The Australian dollar fell amid escalating tensions between Japan and China.
The EUR/JPY pair is showing a complete H&S pattern at the highs on the hourly chart with lessening volume on the right shoulder. A move below the neckline at 102.50 would initiate a stronger bearish push lower...
We had the doji at the highs yesterday and a down-day so far today – it seems possible this could be the start of a deeper correction lower, an Elliot wave 4 perhaps, which would be expected...
The USD/JPY pair rose during the session on Monday as the rally continued. We approached the 79 handle again, but failed at the end of the session to close above it. We do think that this market...
The USD/CAD pair rose during the session on Monday as the market took a bit of a breather. We have recently broken down below the 0.98 handle, and as such that area should be resistance now.
The GBP/USD pair formed a shooting star the end of the session on Monday as we approach the 1.63 handle. This was the target from the ascending triangle breakout that we saw a month ago, and it...
The EUR/USD pair had a very volatile session on Monday, but a fairly tight range. It looks like the 1.31 level is going to be somewhat resistant, but let’s be honest here: this pair is way overextended.
The AUD/USD pair fell during the session on Monday, even getting below the 1.05 level. We are currently at the top of the market range, and it should be noted that the shooting star that formed on...
Commtiment of Traders (COT) Report. The aggregate net short positions in the USD soared to 94,712 contracts, up from a nominal short of only 453 contracts in the previous week. Again, the big increase of USD shorts...
