Forex Trades

Today’s highlights: USD/JPY: Friday’s prod below the key prior support zone at 76.31/30/25 hints at extended losses towards next support at 74.80. GBP/USD: Bearish reversal from 1.6619 resistance on Friday hints at a top. Through 1.6422 completes, and implies a correction back to 1.6300 channel support.

At a glance: Inconclusive While risk markets are treading water at or below internal 38.2 % retracement’s without providing new evidence where to head next, market participants are still scratching their heads in terms of how to evaluate the French-German summit or the SNB’s decision not to peg the CHF, but to extend their interventions […]

Today’s highlights: EUR/USD: Upside direction range breakout brings directional clarity back to the market. Risk now through 1.4537/79 to 1.4698/1.4707 resistance zone GBP/USD: Break above 1.6338 pivot exposes the 1.6477/80 range highs. We see risk through here to 1.6541/49 resistance zone whilst above 1.6256 support AUD/USD: Pausing at the 50% Fibonacci retracement level of 1.0505, […]

Today’s highlights: EUR/USD: Another recovery failure ahead of 1.4454 reinforces defensive range theme, with end of week risk through 1.4055/15 support levels to the 200-day MA, 1.3945 USD/JPY: Poised at the historical 76.30/25 lows, now with likely break below aiming at 74.80 initially with risk to 72.55

Next set of data rules it seems… Today the calendar is barren from key stuff, so perhaps room for a breather in which EURCHF & USDJPY may bounce some (but longs in those are only for those thinking catching falling knives are fun)… EURCHF could re-test the mid-1.13s before down, while USDJPY 78.05 must be […]

Today’s highlights: USD/JPY: Again quickly below and back above key wedge support from 2008 hints at a bottom ahead of the 76.25 all time low.  Only though 78.55/75 signals a better basing USD/CHF: Cautious bounce after aggressive extension to our Fibonacci objective at .7845.  A move back above .8048 minimally required to even hint at […]

Today’s highlights: AUD/USD: Surge through the 1.1014 peak and key 1.1035 multi-decade retracement barrier opens up 1.15/16 into Q3 (potentially mid-August).  Interim targets 1.1200, 1.1300 EUR/USD: Probe through 1.4520 keeps focus higher, reinforcing surge through the 2011 topping line. Still aiming through 1.4579, with August target at the key 1.4698/4707 area

Today’s highlights: EUR/USD: Setback from the 2011 topping line, 1.4450 leaves risk of defensive consolidation early this week.  Below 1.4324 today would aim at 1.4139; month-end risk to 1.4015 USD/JPY: Cautious probe and another defence of 78.25 retrace support.  We still look for a rebound back to the range

Today’s highlights: EUR/USD: Surge through 1.4283/98 barriers completes a short-term base for a better recovery tone into month-end.  Prod at 1.4420, but above the topping line, 1.4460, needed for a more bullish tone into August

Today’s highlights: USD/CHF: Reinforcing the bullish “outside” Monday from a record low for a small base. The challenge is now to overcome .8500/27 for a sustainable bottom; we look for this area to cap NZD/USD: Surge to another new multi-decade high through 8501 and wedge top leaves August risk to our Q3 target at .9000

Today’s highlights: EUR/USD: Erosion from 1.4295/98 resistance signals mini-top and risk lower.  Through 1.4036 would open the door down to key 1.3772 support this week