Forex Trades
FX Daily Crosses
Today’s highlights: * EURGBP: The break of trend support now at .7955 keeps the bias lower to .7790 ahead of .7755/40. * EURJPY: The focus turns to trend support at 95.90. Capitulation through here would see bearish forces mount for 94.92 ahead of 94.11.
USD/CHF IDEA
Looking for EURUSD lower ideas? -> Buy USDCHF upside? USDCHF risk reversal is under EURUSD -> and you’re getting to own the ‘SNB raise floor’ option
The inevitable short squeeze we had to have
The humble short squeeze that started out quietly yesterday continued in earnest overnight as consolidation remains the name of the game and the self fulfilling prophecy of a Christmas rally remains firm on traders’ minds. I don’t believe in either a change of circumstance or this rally that everyone is looking for. It is of […]
Technical Analysis – FX Daily Majors
Today’s highlights: EURUSD: Cautious Monday, but prod at 1.3363 this morning reinforces bearish “outside” Friday for defensive digestion tone. Only below 1.3258 though, sets a more bearish stance GBPUSD: “Inside” Monday hesitancy holds above minor support at 1.5583/77 and whilst even above 1.5526 the bias remains up through 1.5781 to 1.5869/89
Technical Analysis – FX Daily Majors
Today’s highlights: EURUSD: A quiet inside session Thursday, but the bias remains higher. Above 1.3532 would aim at 1.3615. AUDUSD: The crosshairs remain on the 1.0335/47 barrier. We favour an upside break through here to test the 200-day moving average at 1.0414.
Technical Analysis – FX Daily Majors
Today’s highlights: EURUSD: Thanksgiving pause, but an absent bounce and further activity below 1.3382/45 support aims through interim 1.3242 level to the H2 low, 1.3146 into month-end GBPUSD: Straight through minor 1.5543/25 support to prod the final retrace of the October recovery and our November target, 1.5464; month-end risk is to the 1.5272 low.
Technical Analysis – FX Daily Majors
Today’s highlights: EURUSD: Mini-base effort negated through 1.3422, with bear extension threat signalled by surrender of 1.3382/45 support. Risk now back to the H2 low, 1.3146, and key retrace support 1.3050 into month-end (to 1.3242 today)
Technical Analysis – FX Daily Majors
Today’s highlights: NZDUSD: Breach of the .7469 October low to a new 7-month trough leaves the risk this week to key intermediate-term retrace foundation at .7433 and the November threat to critical long-term cycle support at .7335
Technical Analysis – FX Daily Majors
Today’s highlights: EURUSD: Indecisive bottoming effort ahead of 1.3382/45 support with probe through 1.3557/74. Above 1.3644 needed, however, for a firmer base to aim for 1.3815 GBPUSD: Back eyeing the 1.5719/17 support area with threat of bear extension next 1.5632/14, with the November target closer to 1.5464
Technical Analysis – FX Daily Majors
Today’s highlights: EURUSD: Another lower high and low to a new setback low leaves risk lower through 1.3382/45 retrace/chart support, with growing month end threat to 1.3146/1.3050 USDCHF: A gradual advance with successive higher highs since the bullish ‘outside’ Monday defence of .8922 support.This still aims through the .9317 peak to .9400
Bearish on EUR/USD? Buy USD/CHF topside to leverage it
In the weeks and months since the SNB established the floor in EUR/CHF at 1.20, the cross has slowly moved higher.
Technical Analysis – FX Daily Majors
Today’s highlights: EURUSD: Despite bounce this morning another new setback low reinforces bear risk through 1.3382/45 retrace/chart support potentially to 1.3146/1.3050 into month-end USDCHF: Grinding higher since defence of .8922 chart support to maintain the positive tone from the bullish ‘outside’ Monday.Still aiming at the .9317 peak; risk to .9400