Breakouts and Fakeouts
AUDJPY AUDJPY has been difficult to trade recently, chopping back in forth since the September jump in the yen. Price retested the level set before the Bank of Japan intervened, and has rocketed up higher since, breaking...
Tag: USDCAD
USDCAD Analysis – October 30, 2010
Being contained by 1.0378 key resistance, USDCAD pulled back from 1.0348 level. Range trading between 0.9979 and 1.0378 is expected next week.
USDCAD Analysis – October 23, 2010
USDCAD failed to break below 0.9930 previous low and rebounded strongly from 0.9979, suggesting that a cycle bottom has been formed on daily chart. Further rally is expected in a couple of weeks and first target would...
Respecting the Moving Averages
EURJPY The beginning of a downtrend appears to be forming in the EURJPY, with the first confirmation of lower highs and lower lows. Prices bounced off the 200 EMA on the 4 hour chart, but are unlikely...
USDCAD Analysis – October 16, 2010
USDCAD’s downward move from 1.0672 extended to as low as 0.9979 level. Deeper decline towards 0.9930 previous low is still possible next week. Resistance is at 1.0235, as long as this level holds, downtrend will continue.
A focus on Commodity Currencies
USDCAD The CAD continues to gain on the USD, just 100 pips away from parity. The pair recently bounced several times off of the 50-period EMA on a weekly chart. Over the past few years, the 50...
USDCAD Analysis – October 9, 2010
Being supported by the trend line from 1.0138 to 1.0107, USDCAD rebounded from 1.0062, suggesting that a cycle bottom is being formed on daily chart, key resistance is at 1.0235, a break above this level will confirm...
Taming Volatility
Oil: The faster the time frame the greater the relative volatility appears to be. On the chart below we use a monthly tenor. A Wedge pattern present itself which suggests that price is readying itself for a...
Pairs Waiting To Break As Dollar Tumbles:
GBPUSD: The GBP hit just south of 1.60 nearly 2 months ago and has not been back there since. The GBP closed Friday at the most recent highs, or near term Resistance at 1.5835.
USDCAD Analysis – October 2, 2010
After a sideways movement in a range between 1.0191 and 1.0378, USDCAD breaks below 1.0191 support, suggesting that the downward move from 1.0672 has resumed. Further decline is expected next week and next target would be at...