Forex Charts

Main event seems to be weaker commodities with precious metals continuing taking a hit after the key day reversals Tuesday (CAD looks especially vulnerable, see triangle in yday TA), Dollar steady, Euro steady unless EURGBP which has a case for a continued surge,

At a glance: Faint hope rising The fact that the leading German equity index (DAX) couldn’t be impressed by another very bad ZEW number yesterday shows an increasing resilience and highlights the oversold market conditions for risk on a bigger scale. Given that the S&P 500 additionally managed to close above an internal 38.2 % […]

At a glance: With equity markets pushing higher, high beta currencies outperformed yesterday but still within the confines of the recent ranges. Again, with the two-sided action and current themes still intact, additional range action seems likely to persist seemingly into Friday’s event risk.

At a glance: Smile because it could be worse… Market participants were wondering yesterday, why risk markets are selling off that hard as there was no obvious reason to argue for such a massive sell-off. This argument is obviously strictly following the idea that markets have to be reasonable at all times and neglects the […]

The S&P 500’s percentage gains/losses from late 2002 to 2008 are strikingly similar to the magnitudes traced since the index’s 2009 low. As such, we are closely monitoring the lows of last week near 1100, which also coincide with retracement support; a break below this level would suggest that another wave of risk reduction is […]

Risk sentiment is still sour to say the least… In this environment the euro is hurt (against JPY, GBP & CHF) and in a stalemate tug-of-war against the dollar… Though scandies and EMs underperform in the “flight back home with what you got abroad”… Bonds keep scoring and stocks look ugly… OMX likely moving into […]

While many markets try to stabilise, commodities are finding a small bid. Crude oil has posted higher lows consistently since basing last week and base metals are holding up, with the laggard of the complex, aluminium posting a key reversal day amid bullish momentum divergence.