Forex Market Commentary 64
Looking back at the EURUSD again, it’s one of the ‘hot charts’ at the moment with this awesome downtrend momentum we’ve got going on the daily chart. Most of the other markets have stalled in terms of movement, always focusing on the moving pairs. The Inside Day we pointed out at the start of the week […]
We’ve been talking about the price action on the big US stock index – the S&P. The S&P has been in a serious uptrend, it’s something traders should be watching with a close eye. Last week we did see the market fall down from fresh highs back into long term support. The weekly chart […]
Last session we seen most of the major currencies weaken while the yen gained some strength. No outstanding price action that stands out on any of the currency pairs. The Silver chart is on the hot seat today, producing a bearish signal off a swing level. We call it a swing level because it’s a level […]
The pound has just been through a nice steady up trend which pushed the pound above and beyond the $1.7000 level that it hasn’t seen in years. Now it seems the GBPUSD has made a turn toward the downside after price stalled during the last few weeks of trading. Right now the daily chart shows the […]
The S&P bulls have had a very good run the last few months, producing a very nice stable up trend. Recently the market has lost it’s upward momentum and appears to be ‘running out of steam’. The mean value has flattened out and is showing characteristics of a neutral market. The market is clearly having […]
A bearish rejection candle has formed as the EURCAD market rejected moves higher into a proven resistance level on the daily time frame last session. The level rejected was a previous swing high, and the candle closed lower than it’s open price given the setup that extra bit of bearish attitude.A breakout entry might be the most prudent […]
The EURAUD cross pair has been churning sideways for some time now, and has been printing meaningless, confusing price action. The last few daily candles have printed some price action that suggests the market is ready to move lower from here. We’re seeing lots of upper wicks on the daily candles as price reacts with […]
The AUDUSD daily chart has been experiencing some high churning sideways action during the last few weeks of trading. Although the market looks very congested at the moment there does look like an emerging chart pattern here. The situation is simple, the market is having trouble moving past an overhead resistance level. All attempted […]
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- Graham Blackmore said You need to use a broker who has New York close ca...
- alec said i placed your sugestion scenario on audchf, but my...
- Gareth Carter said Great article. I would also recommend that traders...