Back below 200 hour MA Adam just posted on the weakness in the price of oil . The USDCAD followed that retreat with a move higher today. That rally has seen the price of USDCAD retrace to the 50% of the move down from the June 28 - post Brexit - high. That level comes in at 1...
Congestion area broken and traders exit in a hurry The congestion in the EURUSD at the 1.1113-20 level worked for a bounce to 1.1134, but then the support gave way and traders exited/sold into to break (get me OUT) The fall has now taken the price to - and through the 1...
Tests the September 1985 low. The GBPUSD has moved to new session lows and continues the fall to new multi decade lows. The pair is currently testing the September 1985 swing low at the 1.3045 level (the low comes in at 1.30413...
Lots of technical congestion ahead Like a major artery where different roads come together, the EURUSD has one such area being approached. The 100 and 200 hour MAs at 1.1113-20 and the low for the day at 1.1119 come together. Just north of that intersection is a trend line connecting lows (at 1...
Not to be confused with the BREXIT day low The USDJPY traded at a low of 101.38 on June 27th. That was the Monday after the BREXIT result on June 24th. That was the low from last week as well. The 50% of the move up from the low comes in at 101.20 area (I am using a low on Brexit day of 99...
USD/CAD fell on July 1 and July 4 holidays USD/CAD is trading almost precisely where it closed the day on June 30. It's taken a 110 pip, one-way rally to get there but all that's happened is that the pair has unwound declines on July 1 (a holiday in Canada) and July 4 (a holiday in the USA...
The Australian dollar enjoyed a post-Brexit recovery and managed to top the 0.75 level. While AUD/USD keeps holding on to this ground, the gains may have stopped for now...
The ISM Non-Manufacturing PMI (Purchasing Managers’ Index) is based on a survey of purchasing managers in the manufacturing sector. Respondents are surveyed for their view of the economy and business conditions in the US...
Signs that the Brexit is already taking its toll are accumulating. A mix of surveys, news reports and a political turmoil is taking over. GBP/USD is falling once again, over 100 pips and back to the 1.31 handle. The low so far is 1.3162, above the 1...
EURUSD Daily Analysis EURUSD (1.113): EURUSD is seen pulling back after edging higher yesterday. Having cleared 1.110, the current pullback could be limited to 1.110 to establish support. In such an event, EURUSD could potentially be forming a base at 1.110 for the eventual test to 1...
The fallout from Brexit is far from over. Bank of America Merrill Lynch sees further falls and explains: Here is their view, courtesy of eFXnews: Rarely in UK political history has there been a situation where there has been a concurrent leadership contest in the two largest parties in Parliament...
EUR/USD is struggling with Brexit and there is more potential to the downside. And that’s not the only reason. Here is their view, courtesy of eFXnews: We are lowering our 3m EURUSD forecast to 1.05 from 1...
UK Services PMI is based on a survey of purchasing managers in the services sector. Respondents are surveyed for their view of the economy and business conditions in the UK. A reading which is higher than the market forecast is bullish for the pound...
Takes out lower trend line on hourly chart. Timber The GBPUSD just took out the lower trend line which held briefly at 1.3090 area, and we are seeing further selling as traders throw in the towel. With the price trading at lowest levels since 1985, there is not a whole lot to hang onto...
1. They keep faith in their abilities during times of drawdown. Despite what less experienced traders may think about professional traders, everyone has losing streaks at some point in time...
Same old same old from the RBA leaves the aussie with some work to do No apple carts tipped over by the RBA this month, as expected. AUSUSD has found itself stuck between 0.7500 and 0.7545. AUDUSD 15m chart That lower bound extends down to the low at 0.7494 so if 0...
Then we start to see the first pattern is called the engulfing and a very powerful pattern of slow but better support and resistance can also be time you are trading on lower frame such as 15 minutes and 5 if not the 5 min up always with our filter that would be our support and resistance if you...
