After lowering the stop on my short EURGBP (0.8830) trade from 0.8889, the 50-Day SMA, to 0.8718, the 20-Day SMA, we saw the pair retrace the previous week’s decline and reach a high of 0.8795 during the overnight trade, and I am currently flat on the...
USDCAD has rebounded from familiar resistance-turned-support at 1.0415 and is trying to build momentum for a push back above a falling trend line established from the swing high in mid-August, a boundary that has acted as both a significant upside and...
I’m 0 for 2 in my last two trades (AUDUSD and NZDUSD shorts), having attempted to bet on a turndown in risk sentiment and rise in the US Dollar. I think these rallies have a ways to go still before I can more assuredly bet on losses, and as such...
These are updates to the AUDUSD and USDCAD trades. The AUDUSD has reversed from the area of its former 4th wave (common topping area) and the 61.8% retracement of the prior decline. I am bearish against 9044 and expect the decline to accelerate. Risk...
On Thursday, the United States 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”. Among some...
The British pound has taken some unseemly fundamental blows over the past week. Today, the December deficit ballooned. Add to that yesterday’s 13-year high in the level of unemployment and BoE Governor King’s adamant believe that inflation...
Continue to favor the downside in the GBPUSD. The consolidation since 1.5533 appears to be corrective (although it was not a triangle as I had previously thought). Still, the corrective pattern may be wave iv of 3 within the 5 wave decline from 1.6464. ...
Keeping up with the GBPJPY recommendation from the previous day, the pair lost ground throughout the U.S. trade after rising to a high of 143.65 and closed just barely above the 20-Day SMA at 143.02. As a result, I stayed on the sidelines to wait for...
I sold GBPUSD at 1.5765. Prices briefly rebounded from near-term support at the bottom of a falling channel established from the swing high in mid-November but appear to have failed on a re-test of major support-turned-resistance at 1.58. I will remain...
While it is difficult to determine from a short-term perspective at one point things will stall out, it is also quite clear that the market is now by some major cyclical longer-term lows with daily, weekly and monthly studies all now warning of a major...
