As an unintentional extension to an earlier post (Dollar Down, Everything Else Up), I want to use this post to highlight the appreciation of gold in particular, against the Dollar. After a brief decline following the credit crisis, Gold has resumed its upward path. It has appreciated 15% year-over-year, and recently cracked ,000/oz for... »
Last week’s developments showed further evidence that investors are moving away from risky assets as Fed is starting to pave the way for exit from stimulus measures. Stock staged a sharp reversal post FOMC with S&P closed the week at 1044, much lower than the intraday week high of 1080…. more from... »
EUR/USD edged higher to 1.4842 last week before treating sharply. The case of reversal continued to build up with bearish divergence condition in 4 hours MACD but there is not confirmation yet with 1.4611 support intact. Nevertheless, while another rise cannot be ruled out, we’d continue to expect further loss… more from... »
USD/JPY’s fall from 97.77 resumed after recovery from 90.12 was limited at 92.52 and dived to as low as 89.51. Initial bias remains on the downside this week. Sustained break of lower channel support (now at 89.50) will pave the way for further decline to retest 87.12 low. On the… more from... »
After initial recovery, GBP/USD’s fall resumed and dived sharply to as low as 1.5915 last week. The strong break of 1.6111 support confirmed the medium term reversal pattern and GBP/USD should have topped out at 1.7043. Initial bias remains on the downside this week for 100% projection of 1.7043 to… more from... »
USD/CHF dipped further to 1.0185 last week but recovered since then. The case of reversal continues to build up with bullish convergence conditions in 4 hours MACD but there is not confirmation yet with 1.0388 resistance intact. Initial bias remains on the downside this week. Break of 1.0388 will indicate… more from... »
AUD/USD edged higher to 0.8787 last week but failed to sustain gain there and settled back into recent range. The case for reversal is building bearish divergence conditions in 4 hours MACD and RSI, but there is not confirmation yet with 0.8589 support intact. Nevertheless, while another rise cannot be… more from... »
After initial setback, USD/CAD’s rebound from 1.0590 resumed and reached as high as 1.0981 last week. The development affirms the case that USD/CAD has bottomed out at 1.0590. Initial bias remains on the upside this week and further rally should be seen to 1.1101 resistance first. On the downside, below… more from... »
EUR/GBP’s strong rally continued last week and extended to as high as 0.9217 so far. Initial bias remains on the upside and further rise should be seen to 61.8% retracement of 0.9799 to 0.8399 at 0.9264 next. Break will then target 0.9494 resistance. On the downside, below 0.9144 minor support… more from... »
EUR/CHF’s fall from 1.5364 resumed last week and dropped to as low as 1.5079, breaking 100% projection of 1.5380 to 1.5108 from 1.5364 at 1.5092. Further decline cannot be ruled out but after all, price actions from 1.5380 are treated as corrective in nature. Hence, downside should be contained above… more from... »