A fresh 25-Year low now puts the monthly RSI below 30, and at current levels, a major upside correction is sure to unfold. Shorter-term and medium-term technical studies also confirm the need for a bounce, which at a minimum should produce a 10 big figure...
I initially sold EURUSD at 1.4881. Prices have moved beyond my latest revised profit target, continuing to edge along the bottom of a falling channel established from the swing high in early December. Positive RSI divergence remains, leaving the possibility...
After taking profit on the EURGBP short from the previous week, the pair bounced back to reach a high of 0.8838 during the overnight trade, but the lack of momentum to hold above the 200-Day SMA at 0.8822 continues to favor a bearish outlook for the pair....
I have gone into this week with a mix of pairs that are highly liquid and maintain a considerable correlation to underlying risk trends. Taking stock of the larger fundamental trends I am considering, first there is the general direction that sentiment...
Last week, the Federal Reserve Board announced that “in light of continued improvement in financial market conditions it had unanimously approved several modifications to the terms of its discount window lending programs”, including raising the discount...
I mentioned the possibility last week that the discount rate decline was a terminal thrust from a triangle and that suspicion has been proved correct as the entire decline from 13660 has been retraced. The rally from 13443 may be the beginning of a...
Markets have become incredibly uninteresting in the past day or so, sticking to choppy ranges across the board. There’s no sense in me trying to fabricate a trading opportunity when I see none, and as such I’ll stand aside until we see some...
A break back above the 20-Day SMA at 90.04 inspired a long USDJPY trade which has been profitable as dollar support was generated by the Fed raising the discount rate. A failed attempt to break above the 200-Day SMA has led me to take some profits, as...
Technical Catalyst: A string of nine consecutive negative closes (Fibonacci sequence) has now been compromised with a doji close on Thursday, and this could very well be suggestive of the early formation of a long awaited and much needed base. Daily...
