AUDUSD Weekly/Daily/4hr/Hourly Among the major USD pairs, the AUDUSD has progressed most towards forming a tradable bottom. A triple bottom appears to be forming on the weekly chart, and on the daily chart, the AUDUSD is retesting its descending triangle resistance. Significantly, Thursday’s low was higher than the low formed about two weeks earlier. BullishlyRead More
Tag: GBPUSD
USDX (DX) Tiring at Upchannel Resistance
Euro Philadelphia Index Weekly The Euro index has begun rallying, with the weekly MACD about to positively crossover, and a positive divergence seen between the weekly RSI, Stochastics and price. Longer term, one can spot potential downside risk to 119-120, especially within the context of a monthly chart. Let’s view the EURUSD shorter timeframe chartsRead More
EURUSD Edging Closer to Tradable Bottom
VIX (CFE VX Dec14) Weekly/Daily/4hr/Hourly The VX saw another day of mild downside pressure yesterday, but as with yesterday, has begun rebounding in today’s Asian session. The key July-September support zone (of 15-16 with the December contract) continues holding, and the VIX is now nearing the end of a symmetrical triangle as seen on theRead More
USDX (DX) Testing Upchannel Resistance
VIX (CFE VX Dec14) Weekly/Daily/4hr/Hourly The VX experienced a bit of profittaking Friday, but has begun rebounding in today’s Asian session. The key July-September support zone (of 15-16 with the December contract) is holding, and the VIX is now testing a symmetrical triangle resistance line as seen on the 4hr chart. The 4hr and dailyRead More
Arabica Coffee (KC) Completes Correction Since Mid October
Arabica Coffee (ICE KC Mar15) Weekly/Daily/4hr/Hourly KC convincingly broke out of its bottoming phase yesterday adding more than 2% on the day. Admittedly, I was about a week early in expecting the completion of this bottoming. KC appeared earlier this week to have broken beneath the ascending triangle support line as seen in the weeklyRead More
VIX Holding Support @ Jul-Sep Lows
AUDUSD Weekly/Daily/4hr/Hourly The AUDUSD continued pushing higher yesterday, and now sits just shy of a downtrend line drawn on the daily chart, suggesting resistance at roughly .875. Upchannel resistance within the 4hr chart also suggests a pause around .875. On the weekly chart, AUDUSD increasingly appears as if it might be forming a triple bottom,Read More
Raw Sugar (SB) Rallies Almost 4% and Testing Major Resistance
AUDUSD Weekly/Daily/4hr/Hourly Following an initial dip yesterday, the AUDUSD rallied over a hundred pips to near the middle of the horizontal channel that it has relcaimed (as seen in the daily chart). On the weekly chart, AUDUSD increasingly appears as if it might be forming a triple bottom, with the recent break beneath horizontal channelRead More
Trading Subdued Today w/ US/Canada/France Bank Holiday
AUDUSD Weekly/Daily/4hr/Hourly After a bit of a dip yesterday, the AUDUSD has begun bouncing back in today’s Asian session, and now sits around channel support (as seen on the daily chart). Within the 4hr chart, AUDUSD can be seen testing a downchannel resistance line, and assuming it breaks above it, could be targeting the downtrendRead More
Natural Gas (NG) Gaps Up Again; Consolidation Overdue
I’ve updated the monthly charts that appear on the main homepage, to feature 8 monthly charts that warrant attention. These long-term charts will provide added perspective to many of the setups featured in the daily newsletter. At times, the monthly chart analysis will be at odds with the weekly chart analysis, and should be respectedRead More
Caution Ahead of NFP (Non Farm Payrolls)
There aren’t any high probability trades on my watchlist today ahead of NFP (Non Farm Payrolls). NFP releases at 830am EST, and the trading range of most markets will be relatively tight up until the announcement. Cotton (ICE CT Dec14) Weekly/Daily/4hr/Hourly Post NFP, CT could be worth considering on the long side as it sitsRead More