EUR/USD “Recall that a key reversal occurred in January. There is divergence with RSI (monthly and weekly) and the decline from 2008 channels. The described conditions suggest a major bottoming scenario but if a new low is made then pay attention to 1.0200 (channel line).” Not much of anything has changed for EUR/USD on the long term charts. The downward sloping parallel near 1.1150 remains resistance as well as the trigger line for a major ...
-“DXY continues to trade on parallels that are defined by the 2016 support line (from the May low). The yearly opening price is 102.38 and could influence for a reaction. I’d also pay attention to 100.39 (March 2015 high…here we are 2 years later by the way…basically unchanged!) for support. A break through one of these levels ideally offers something to work with from a trend perspective.” Decision time as DXY is trading 100.39! A weekly close below ...
USD/JPY Weekly USD/JPY has turned up within its channel but preference remains for sideways trade. There are a few reasons for wanting to fade strength and buy weakness (range trade), chief among them is the fact that the 13 week average is flat and price levels are well defined. Generally speaking, 115.50-116.00 has been important on both sides of the market since December 2014. As long as price is below the level, the zone is resistance. ...
Gold prices have gotten crushed; moving from a swing-high above $1,250 just a week ago to below $1,210 as of this writing to tally a total move of -3.3% in a single week. To be sure, there is prime motivation for such a theme which is likely why we’ve seen such little respect of support as Gold prices have been on the way down. With a key Fed meeting next week in which the world may get just the 3rd rate hike from the bank in the past 10 years, the table is set for a continuation of USD-strength ...
CAC 40 has blasted to new 2017 highs, as global equities markets continue to rally on new optimism. At this point in Thursday’s trading the CAC 40 is up +0.21%. Top winners for the CAC 40 include Engie SA (+7.81%) and LafarageHolcim (+3.04%). Losers for the day include Essilor International (-1.92%) and Pernod LOreal (-1.02%). Technically, the CAC 40 is now trending higher in both the long and short terms. The Index is currently trading ...
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