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...
I am waiting to short the AUDJPY and CADJPY. Both are testing resistance lines and are closing in on their 61.8% retracements of the prior declines. The AUDJPY Fibo level is 8240 and the CADJPY level is 8750. I will await evidence of weakness before...
This Wednesday, the EURUSD lost some ground after the Eurogroup failed to produce any concrete actions in regards to Greece’s debt crisis. The Eurogroup is an assembly of the finance ministers of the European Union, from countries who have adopted the...
Last week, the braoder markets were showing a measured improvement that translated into a slow retracement of the yen’s tumble beginning in early January. However, this week, the drift has started to build momentum as fundamental concerns temper...
Keeping up with the EURGBP short trade from the previous week, I moved down the stop from 0.8889, the 50-Day SMA, to cost as price action held below the 20-Day SMA by the close of the U.S. session, but I ended up moving the stop further to the 20-Day...
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...
In the past few months, there has been a remarkably improvement in investor’s sentiment regarding the USDJPY exchange rate. Back in November of 2008, USDJPY call options with 1-month to maturity were being bid nearly 10 percent lower than similar puts...
I maintain a longer term bullish bias against 1.0223. Support should be strong at 1.0415, which is former resistance and the 61.8% retracement. Long term traders can establish longs against the January low but short term traders should await clarification...
It is difficult to get an accurate read on the euro. This morning, risk appetite has recovered a little from its recently depressed levels; but this does not mean that conditions have improved meaningfully in the background. Particularly for the euro,...
I sold USDJPY at 90.14. Prices are testing above near-term resistance at the top of a falling channel that has been guiding the pair lower from the swing high in January. I will monitor prices for a daily close above this juncture, as this would expose...
