Best to be cautious ahead of today’s FOMC announcement at 2pm EST. There’ll likely be minimal market movement leading up to the FOMC, and it may pay to just take the day off trading (for those who trade intraday), and prepare for the opportunities that await post FOMC. Cotton (ICE CT Dec14) Weekly/Daily/4hr/Hourly CT providedRead More
This week’s big news event will be the FOMC on Wednesday with the expectation that the Fed’s QE finally coming to an end. Given that US corporate earnings have largely been better than expected, it is highly unlikely that the Fed change its mind on ending QE this month as had previously been suggested. EitherRead More
British Pound Philadelphia Index Weekly The British Pound index continues bottoming on the weekly chart, and should be close to resuming its upside after several days of consolidating. The MACD black line continues moderating in its negative slope, while the RSI and Stochastics climb slowly out of oversold territory. Let’s take a look at theRead More
Cotton (ICE CT Dec14) Weekly/Daily/4hr/Hourly After yesterday’s late session rally, CT appears like it’s just about finished consolidating, and ready to form a higher low (as seen in the daily chart). On the 4hr chart, CT’s approaching downchannel resistance, but given the rising (or about to be rising) RSI, Stochastics and MACD across the weekly,Read More
AUDUSD Weekly/Daily/4hr/Hourly The AUDUSD pushed higher yesterday and now appears to be on the verge of breaking a symmetrical triangle as seen in the 4hr chart. In the daily chart, AUDUSD is edging towards channel resistance around .8875. The weekly, daily and 4hr RSI, Stochastics and MACD are all bullishly sloping up or about toRead More
AUDUSD Weekly/Daily/4hr/Hourly The AUDUSD continues consolidating nicely around a prior major bottom (as seen in the weekly chart). The .8625 to .8875 sideways channel it currently sits within will likely resolve to the upside in the next session or so as the weekly, daily and 4hr RSI, Stochastics and MACD are all bullishly sloping upRead More
