Forex Charts
Global Technical Watch – Quick Charts (Sep 26)
The S&P 500 pulled back into the sessions close yesterday, keeping a bid in US rates markets. While the S&P is still holding above its previous 2012 highs formed in April, the persistent downtrend in US yields is more concerning as 10yr yields approach resistance near 1.62/63%.
USDJPY – where is support?
USDJPY has taken out most reasonable retracement levels as the BoJ’s latest easing move has failed to trigger a sell-off in the JPY. Now we’re entering the danger zone for verbal intervention or worse from Japan.
Global Technical Watch – Quick Charts (Sep 25)
The break lower in crude oil last week is weighing on the market, likely keeping US breakeven rates capped. While WTI crude turned lower from the psychological hurdle near $100,
Global Technical Watch – Quick Charts (Sep 24)
Gold left some bearish divergences (weakening momentum) on the last price move higher towards 1790, which is strong resistance at the 2012 peak.
EURUSD correction targets
With 1.3000 giving way in the Asian session on poor data out of China, we have to look at where EURUSD might find support in the coming days.
Global Technical Watch – Quick Charts (Sep 20)
The break lower in crude oil warns of further near-term weakness. In FX, this turns our attention to the CAD, where net speculative positioning has built up to historical highs.
AUDUSD in an interesting pivot zone
The technicals for AUDUSD are deliciously complicated, though the current pivot zone is an interesting area for bears to test their case as it’s fairly straightforward to see where they will be proven wrong.
Global Technical Watch – Quick Charts (Sep 19)
Following a strong run higher earlier in September, the S&P 500 is taking a breather. The lower volume on the pullback is a healthy bullish sign, as is gold’s orderly, stair-step move higher on intraday charts.
Global Technical Watch – Quick Charts (Sep 18)
The Asia dollar index broke higher, still following the path of gold as noted earlier this month in the Emerging Markets Technical Strategy – ADXY trying for gold.
EURCAD – a thousand more pips of upside on further squeeze?
Last week we warned of the risk (to the upside) from positioning in EURCAD almost regardless of the outcome of the critical event risks. Friday’s blow-out rally could be just the beginning.
AUDUSD nearing big resistance lines ahead of FOMC trigger
As we await the FOMC outcome much later today, it’s worth zooming out and looking at the bigger technical picture in the likes of AUDUSD, which tends to be a big mover on QE/risk appetite themes.
Global Technical Watch – Quick Charts (Sep 13)
Commodity currencies are gaining ground, and NZD/USD, in particular, is respecting cloud support on both daily and weekly charts. The risks are for further gains, with the next hurdle to overcome at 0.8240.