Tag Archives: Greece

Tuesday Charts That Matter

Good morning. The euro keeps climbing higher, flirting with $1.300 on Greek optimism. Bernanke’s speech is today’s notable event

EURUSD

As seen on the chart below, there are no important barriers up to around 1.3130 which is the recent top.

Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to buy dips at 1.2950, target at 1.3050+

EURUSD daily 11-27-2012

EURUSD daily 11-27-2012

GBPUSD

Cable is still trading within the downward channel but is now testing resistance formed by the downward trendline connecting recents highs. So the question is whether the channel will remain intact or not. A daily close above the resistance is what I’m looking for before considering a bullish position

Market sentiment: intraday – bullish, short-term – bearish
Potential trade strategy: to buy after a potential daily close above 1.6050-1.6100, target at 1.6250 Continue reading

Midweek Charts to Watch

Good morning. EUR declined overnight on disappointing Greek aid-talk results.

EURUSD

EUR found temporary support between the two fib lines highlighted in the hourly chart below. However, it’s probably a safer trading plan to look for selling opportunities on rally to $1.2800

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell on pullback to 1.2800, stop above 1.2850, target below 1.2700

EURUSD hourly 11-21-2012

EURUSD hourly 11-21-2012

EURJPY

There’s a good chance that the EUR will keep climbing above 103.50-104 due to yen’s weakness across the board these days.

Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to buy at 104.00, target at 106 Continue reading

Charts to Start the Week 7/23/12

Good morning. Euro continues its collapse, reaching a 11-year low against the Japanese yen and is trading near $1.200 against the dollar at time of writing. Current selling catalysts are the renewed talks of Greece eurozone exit and Spain worries.

Important events this week: Bernanke’s Speech, German IFO, New Home Sales, US Initial Jobless Claims, US GDP – see the Economic Calendar for details

[polldaddy poll=6409651]

EURUSD

Market sentiment: intraday – bearish, short-term – bearish

Potential trade strategy: to sell on pullback to 1.2150/70, initial stop above 1.2200, target at and below 1.200

EURUSD 4hrs 7-23-2012

EURUSD 4hrs 7-23-2012

GBPUSD

Cable is following EUR and other risk-sensitive pairs lower and support at 1.5530 is on the radar screen. If price pulls back from here, selling is likely to be triggered around 1.5620

Market sentiment: intraday – bearish, short-term – bearish

Potential trade strategy: to sell on pullback to 1.5620, target at 1.5530 Continue reading

Charts to Start the Week 6/18/12

Problems are only opportunities with thorns on them. ~ Hugh Miller

Good morning. I’ve just returned from a 1-week trip in Montenegro, so that’s why I didn’t update the site since 8th of June. But now I’m back on track.

USD Index

Support around 82 has been breached and next one to keep an eye on is around 81, formed by a top of March and May’s short-lived correction. Ongoing risk rally should favour further downside for the dollar, so a test of 81 is in the cards

USD Index Daily 6-18-2012

USD Index Daily 6-18-2012

S&P500

Recovery continues and 1340 barrier is being breached. Next important resistance is seen at 1400, but there’s also 1360 on the way upwards Continue reading

Charts to Start the Week 5/21/12

Nobody can be so amusingly arrogant as a young man who has just discovered an old idea and thinks it is his own. ~ Sydney J. Harris

Good morning. The dollar tested last year’s top as euro continues to tumble amid Greece exit worries. Euro’s recovery on Friday seems rather corrective and sellers are probably waiting in line at 1.2900 and around 1.300, which are better selling levels.

USD Index

The dollar index reached a high above last year’s top, testing January’s resistance – as seen below.

USD Index Weekly 5-21-2012

USD Index Weekly 5-21-2012

Support zone starts between 80 and 80.50.

USD Index Daily 5-21-2012

USD Index Daily 5-21-2012

S&P500

Next important support to keep an eye on, formed by 2012’s opening price, is best seen on the weekly chart

SPX Chart Weekly 5-21-2012

SPX Chart Weekly 5-21-2012

EURUSD

Friday’s reversal candle formed around support zone suggests that a recovery is due, but there’s much selling pressure just around the corner, so rallies are likely to be sold

EURUSD Chart Daily 5-21-2012

EURUSD Chart Daily 5-21-2012

4hrs chart becomes slightly bullish but corrections are normal after strong declines

EURUSD Chart 4hrs 5-21-2012

EURUSD Chart 4hrs 5-21-2012

AUDNZD

waiting for an exit out of consolidation range between 1.2790 and 1.2850 was worth it – as AUD rallied up to 1.3040 very fast after the breakout

AUDNZD Chart Daily 5-21-2012

AUDNZD Chart Daily 5-21-2012

USDCHF

Here is another nice breakout, highlighted a week ago. Perhaps correction will continue, targeting support at .9300, but overall sentiment remains bullish

USDCHF Chart Daily 5-21-2012

USDCHF Chart Daily 5-21-2012

EURAUD

In case of pullback, 1.2890/00 is where to expect support

EURAUD Chart Daily 5-21-2012

EURAUD Chart Daily 5-21-2012

USDCAD

Strong resistance around 1.0030 was finally breached, and next barrier is seen at 1.0300. Interim support is formed around 1.0100

USDCAD Chart Daily 5-21-2012

USDCAD Chart Daily 5-21-2012

GBPUSD

Cable followed EUR and declined well below short-term support levels at 1.6050 and 1.5950 – which is a key interim resistance now

GBPUSD Chart Daily 5-21-2012

GBPUSD Chart Daily 5-21-2012

have a great day

Charts to Start the Week 5/14/12

Whatever begins, also ends. ~ Seneca

Good morning. Euro opened lower today as fear of Greece leaving euro-zone grows. Dollar trades higher against most counterparts and the dollar index is testing March’s top, as seen below

USD Index

USD Index Daily 5-14-2012

USD Index Daily 5-14-2012

 S&P500

There’s no sign of relief yet and I, for one, remain bearish until price returs above 1.375/80. Selling into rallies is still a good plan Continue reading

Sunday Satire: The Financial World Through the Eyes of an Artist

Here’s more of williambanzai7’s work. In case you missed the 1st compilation, check it here: Tuesday’s Satire: The Financial World Through the Eyes of an Artist

You can find a lot more of William’s work on his site or his Flickr page, and also follow him on Twitter or Facebook.

Enjoy

Too big to fail

Too Big to Fail

Too Big to Fail

The Ponzi’s about to set sail
They call her the “Too Big To Fail”
If it starts to sink
Ben’s there in a wink
And shouts out the order to “bail”

The Limerick King

Captain Jamie Madoff

Captain Jamie Madoff

Captain Jamie Madoff

Al-Ponzi most wanted list Continue reading

EUR: 1.30 Support Under Pressure in Risk-Off Trade Following Election Results

Many of life’s failures are people who did not realize how close they were to success when they gave up. ~ Thomas Edison

Good morning. All eyes are again on Greece, where political leaders are meeting again to form a new government. Current sell-off is also caused by the French election. With the euro down around $1.300 and struggling to hold, there’s a good chance that sellers are targeting more downside and potential pullbacks to the upside should provide more selling opportunities. Let’s see what are some of the interesting charts today

USD Index

Yesterday’s gap is not a clear breakout but filling the gap is normal, so the correction towards 79.50 should be over now. Next interim resistance is around 80 and a break above that level would result in EURUSD declining below 1.300

USD Index Daily 5-8-2012

USD Index Daily 5-8-2012

S&P500

The bottom formed by April’s lows is under pressure around 1360 as US markets decline after French and Greek elections stoke uncertainty in Europe. Bulls better wait on the sideline and only watch, because the decline doesn’t seem to be over yet Continue reading

Charts to Start the Week 3/12/12

We fail far more often by timidity than by over daring. ~ David Gayson

Good morning. The euro declined on Friday’s post NFP market reaction and Greek debt swap. Greece is again in focus as eurozone finance ministers meet today to discuss Greece’s second bailout final approval. Other important events on this week’s economic calendar are: BoJ Interest Rate Decision, German Zew, US Retail Sales, US Interest Rate Decision/FOMC, US Initial Jobless Claims. Here are some charts to start the week:

USD Index

Resistance at 80 is again under pressure after Friday’s quick rebound. A potential breakdown would coincide with EURUSD falling below $1.3050-1.3100.

USD Index Chart Daily 3-12-2012

USD Index Chart Daily 3-12-2012

EURUSD

last week’s rally to 1.3300 was corrective and downside is back in focus. Support at 1.3100 holds for now, but I think it’s a good idea to sell on weakness – if it breaks in the coming sessions. Upside pullbacks should find resistance around former support 1.3200 Continue reading

Mid-Week Charts to Watch

Most of the basic truths of life sound absurd at first hearing. ~ Elizabeth Goudge

Good morning. The yen continued to recover as Greece worries boost safety demand, while the dollar is up against most counterparts as EUR, metals and other risk pairs such as AUDUSD declined.

Starting today I will use tradingview.com for dollar index charts mainly. I will publish a review of this charting platform in the coming days.

USD Index

It’s time to focus on this resistance area around 80 where the dollar sold-off in February. This region coincides to EURUSD’s 1.300-1.3050 where next short-term support is seen

USD Index Chart 3-7-2012

USD Index Chart 3-7-2012

EURUSD

First intraday resistance is formed by yesterday’s bottom at 1.3185, so it’s probably a good idea to expect sellers to do their stuff if EUR recovers. I remain bearish, expecting intraday rallies to be sold Continue reading