Archive for October, 2009

There’s a very good and little-known movie starring Anthony Hopkins. The title: World’s Fastest Indian. It’s about a New Zealand man who made it his life’s goal to break the land speed record on his motorcycle. It’s been called a “feel-good” story. Kind of like this latest rally in risk. more from... »

On the recent four hour yen chart below, traders can see that market has reached the 91.50-91.70 target zone for the second time this week, after the bounce from our Fibonacci support region, discussed on Tuesday. The 38.2% Fibonacci retracement of a blue wave A) distance (daily chart) has been… more from... »

The USD/JPY is contemplating surpassing our 3rd tier downtrend line as U.S. equities selloff and we witness broad-based strength in the Dollar. Britain’s surprisingly negative Prelim GDP figure sent shockwaves throughout the FX community, and the Dollar is benefitting as a result. A combination of positive U.S. Q3 earnings and… more from... »

Most of the Cable’s positive technicals were shattered after Britain’s Prelim GDP number shocked investors by printing negative at -0.4% vs 0.2%E. Investors sent the GBP/USD tumbling on strong volume since all of the positive fundamentals from the past two weeks have now been brought into question. Furthermore, investors are… more from... »

Investors are favoring the Dollar today after Q3 earnings continued to roll in positively, most notably MSFT and AMZN. Furthermore, U.S. Existing Home Sales blew past estimates while Britain’s Prelim GDP printed a shocking -0.4%. Therefore, investors are suddenly favoring the U.S. economy, and are heading towards the Dollar in… more from... »

With an earlier weakness below the 1.5000 level being reversed higher and now trading above that level, threats remain for the continuation of its medium term uptrend towards the 1.5082 level, its Aug 10’08 high and then the 1.5283 level, its May 04’08 low. This upside view will be boosted… more from... »

Bullish price action for the last two weeks on USD/JPY, a daily chart of which is shown, has formed a steep short-term uptrend within the context of a longer-term downtrend channel. Price has also just reached strong resistance in the 92.00 support/resistance region, and additionally, is approaching the approximate upper… more from... »

Cable crashed post dismal GDP data release. The free fall from 1.6793 can possibly be contained near 1.6318-6290. This week, it has risen on the Support of the 8-week MA at 1.6221, that might be tested on a break of the above Support. Rather stay from the pair for a… more from... »

Our lower targets were achieved during yesterday’s highs, but retracements remained weak, indicating that buyers still dominate. Important resistance emerges at 1,5100 area, which is the most possible target. As you can see in the daily chart two different channels are met at these levels and these levels should not… more from... »

With our previous and recent calls for a trade towards and an eventual break of its symmetrical triangle top at 138.02, that level is currently under attack as the time of this analysis. On a decisive break of there, risk will turn to the 138.71 level where its Aug 07’09… more from... »