Quote of the day:“If I had to live my life again, I’d make the same mistakes, only sooner.” ~ Tallulah Bankhead Good morning. The week starts with euro pushing on intraday support formed by the median retrace value of Friday’s rally, at 1.4350 – see hourly chart below. I reiterate my view that it’s probably best Read More
Charting the Week Ahead 8/21/11
Let’s see what this week brings and whether there might be some interesting trade setups developing I’ll start with the EURUSD, which is the most popular currency pair. As you can see, the pair is still into a relatively narrow range since topping at $1.49. But why? and here is the answer: Riiight! Notice how Read More
Friday Links 8/19/11
Even though I’m quite busy these days, I still find time to read interesting stuff or watch great pictures: Guest Macro Commentary: Is Germany Playing Chicken With Ben Bernanke? (ZeroHedge) Central Bank Policy, Euro Bonds, and QE3 (Financial Sense) “Lehman-Like” Credit Crunch Hits EU; ECB Will Not Disclose Affected Banks; Euro-Style Anxiety Spreads to U.S. (Mish’s GETA) Technicals point Read More
Dollar Recovers, Risk Pairs Drop as Stocks are in Free Fall Again
Quote of the day: “How much easier it is to be critical than to be correct.” ~ Benjamin Disraeli Good morning. Dollar, yen recovered and gold keeps setting more record highs as the world’s stock markets tumbled yesterday on growing economic concerns and more bad news from the eurozone. Let’s take a look at some charts Read More
- Continue reading: Dollar Recovers, Risk Pairs Drop as Stocks are in Free Fall Again
All Eyes on CHF Today
Quote of the day: “Lack of money is no obstacle. Lack of an idea is an obstacle.” ~ Ken Hakuta Good morning. The euro pulled back yesterday against the US dollar and some of its major counterparts such as the Japanese yen after Sarkozy – Merkel talk. Equity markets also fell after Sarkozy said that increasing the Read More
EURUSD Still in Range, AUD and CHF Pairs Are More Interesting
Quote of the day: “Doing a thing well is often a waste of time.” ~ Robert Byrne Good morning. It’s been a good Monday for the euro and risk sensitive instruments as the recovery continued – EURUSD reaching a daily high near $1.4500 before pulling back, AUDUSD breaking resistance – former support – at 1.0450 and Read More
- Continue reading: EURUSD Still in Range, AUD and CHF Pairs Are More Interesting
Couple of Charts to Start the Week 8/15/11
Quote of the day:“Do not wait for extraordinary circumstances to do good; try to use ordinary situations.” ~ Jean Paul Richter Good morning. Equity markets continued the recovery on Friday, therefore AUD crosses are trading higher – AUDUSD testing resistance into former support zone. The Swiss franc continues to retreat against most counterparts not showing notable Read More
- Continue reading: Couple of Charts to Start the Week 8/15/11
Swiss Franc Retreats; Euro Under Pressure
Quote of the day: “Real stupidity beats artificial intelligence every time.” ~ Terry Pratchett Good morning. Global markets recovered yesterday and the risk sensitive currencies followed, but the best performers were the CHF crosses, such as EURCHF which rallied over 6 big figures after SNB’s Jordan said that they are considering a temporary peg of Read More
- Continue reading: Swiss Franc Retreats; Euro Under Pressure
Markets Recovering, Swiss Franc Out of Control
Quote of the day: “Society, my dear, is like salt water, good to swim in but hard to swallow.” ~ Arthur Stringer Good morning. Some huge moves have taken place yesterday especially in CHF pairs – EURCHF collapsing to as low as 1.0065 – a few pips away from parity, from earlier top at 1.0800. Read More
- Continue reading: Markets Recovering, Swiss Franc Out of Control
Markets Taking a Breath Ahead of FOMC
Quote of the day:“Nothing is more admirable than the fortitude with which millionaires tolerate the disadvantages of their wealth.” - Rex Stout Good morning. Unless you’ve been on a holiday until.. now!? and you didn’t have TV, Internet, newspapers or people talking around – you can’t really have escaped the fact that the global markets are Read More
Charts of Interest: Falling Markets 8/08/11
Hello. Stocks and many currencies are in free-fall, Gold – that thing Bernanke called “not money” – is changing hands at over $1,700 as the markets are, again, out of control. Here are some charts you should keep an eye on: S&P 500 – As you can see in the chart below, we are retesting support Read More
- Continue reading: Charts of Interest: Falling Markets 8/08/11
Dollar Recovering on Equities, Commodities Sell-Off; Yen Strengthening as Intervention Effects Fade Out
Quote of the day:“Work saves us from three great evils: boredom, vice and need.” – Voltaire Good morning. As said many times before – history has a nasty way of repeating itself: so the BoJ intervention has failed once again and the Yen is strengthening across the board amid speculation fact that the global growth is Read More
JPY Weakening on BoJ Intervention
Quote of the day: “You will find that the State is the kind of organization which, though it does big things badly, does small things badly, too.” ~ John Kenneth Galbraith Good morning. If you just opened the charting platforms, you may want to check the JPY pairs as there’ve been some wild moves overnight: Read More
Euro Extending Losses; SNB Intervention Just Around the Corner
Quote of the day:“Nobody ever did, or ever will, escape the consequences of his choices.” ~ Alfred A. Montapert Good morning. EURUSD is approaching the 3-months support zone as risk-off trade intensifies across the board – CHF and JPY extending gains all over the place, Gold reaching new record highs while writing these lines, AUDJPY breaking Read More
- Continue reading: Euro Extending Losses; SNB Intervention Just Around the Corner
Euro Continues to Fall; Some Charts That Matter Today
Quote of the day: “When you have only two pennies left in the world, buy a loaf of bread with one, and a lily with the other.” ~ Chinese Proverb Hello. Things are looking bad for the euro once again as the debt contagion spreads to Italy and the markets resumed the decline, all important Read More
- Continue reading: Euro Continues to Fall; Some Charts That Matter Today
EURUSD: Third Monthly Close Near 1.44
Quote of the day:“The only cure for grief is action.” - George Henry Lewes Good morning. 1.44 is again under pressure as the euro recovered on Friday and the monthly close near 1.44, thus forming a long tailed / continuation candle (see chart below) suggesting that there’s more upside to be seen. Next resistance levels are Read More
Friday Links 7/29/11
What to read today: Which Is in Worse Shape, U.S. or Europe? (NY Times) Japanese Yen And Its Implication For US Dollar (Business Insider) Trojan Asteroid Discovered Stalking Earth (Discovery News) This Country Defaulted Long Ago (Financial Sense) Goldman Sachs Traders Quitting The Bank In Droves (Business Insider) Team Obama Fiddles While Debt Ceiling Fires Burn (naked capitalism) Gold’s not as stretched as Read More
Euro Losing More Ground; Few Charts To End The Week
Quote of the day:“Every society clings to a myth by which it lives. Ours is the myth of economic growth. It’s totally at odds with our scientific knowledge of the finite resource base and the fragile ecology on which we all depend for survival.” – Tim Jackson Good morning. Another day, another round of euro Read More
- Continue reading: Euro Losing More Ground; Few Charts To End The Week
Dollar Recovering Towards Sell Zone, Euro Under Renewed Pressure
Quote of the day:“Everybody gets so much information all day long that they lose their common sense.” - Gertrude Stein Good morning. The dollar is taking a breath – recovering some ground across the board, especially against the euro, its major counterpart. Gold pulled back after reaching a fresh high yesterday and the equity markets closed Read More
- Continue reading: Dollar Recovering Towards Sell Zone, Euro Under Renewed Pressure
Dollar Down on Debt Ceiling Fears
Quote of the day:“Do not condemn the judgement of another because it differs from your own. You may both be wrong.” - Dandemis Good morning. The dollar losses more ground across the board on debt-ceiling fears, before the debt limit vote, as the market is pricing in the risk of downgrading the U.S. credit rating. Basically Read More
Tuesday Links 7/26/11
Good stuff to read today: The Kabuki theatre of America’s Debt Ceiling (Telegraph Blogs) Goldman On The Various Deficit Reduction/Debt Ceiling Plans And Immediate Next Steps (ZeroHedge) The US debt ceiling: What if the talks fail? (The Economist) The extraordinary experiment of a chimp raised as a human child (Mail Online) Norway attacks: Anders Behring Breivik appears insane, says Read More
EURUSD Breaking Above Trendline Resistance
Quote of the day:“Strong reasons make strong actions.” - William Shakespeare Good morning. The consolidation near resistance at 1.4400 is over and the euro continues to climb higher towards 1.46-1.47 resistance zone, as pointed out in my post yesterday. The rally is caused by a weaker dollar, as the greenback is in free-fall mode against the Read More
- Continue reading: EURUSD Breaking Above Trendline Resistance
EURUSD Holding Near Trendline Resistance
Quote of the day:“Insist on yourself; never imitate… Every great man is unique.” - Ralph Waldo Emerson Greetings. The euro is still in consolidation mode after last week’s rally but remains bullish on short-term basis as support into the 1.4320-1.4350 range holds. The said support is backed b a more important barrier near 1.4250, so if Read More
- Continue reading: EURUSD Holding Near Trendline Resistance
Euro Set for More Gains on European Debt Optimism
Quote of the day: “Think like a man of action, act like a man of thought” - Henri Bergson Good day all. The euro is up across the board as European leaders eased the terms of loans for countries in trouble and expanded the aid for Greece. In case you missed it – yesterday I shared Read More
- Continue reading: Euro Set for More Gains on European Debt Optimism
Euro Recovers on Debt Optimism Before EU Summit
Quote of the day: “Absolute faith corrupts as absolutely as absolute power.” - Eric Hoffer Good morning. Big day ahead for the euro and the pair gains before the summit, testing offers around $1.4260 after Germany and France reached an agreement on Greek debt. Last week’s top is currently tested and it seems that the euro Read More
- Continue reading: Euro Recovers on Debt Optimism Before EU Summit
EURUSD Holds Above Support Zone Before Eurpean Summit Day
Quote of the day:“Lack of money is the root of all evil.” - George Bernard Shaw Good morning. The euro holds well Monday’s lows and current signals are mixed, both daily and weekly charts suggesting that more upside is likely, but there are some big warning signs on both charts – mainly around 1.4000/50 where a Read More
- Continue reading: EURUSD Holds Above Support Zone Before Eurpean Summit Day
EURUSD Recovering Some Ground, Still Far Away From the “Safe Zone”
Quote of the day:“As every thread of gold is valuable, so is every moment of time. ” – John Mason Good morning. We had a correction up to 1.4135 after the euro found support yesterday into the 1.4000-1.4050 support zone, but price is currently retreating off the session highs – trading at 1.4075 right now. Read More
- Continue reading: EURUSD Recovering Some Ground, Still Far Away From the “Safe Zone”
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