There were a few good calls and a few not-so-good yesterday. The spike up to 1.4151 EURUSD yesterday didn’t quite reach the 1.4177 minimum target but then I’m not quite convinced that we saw the ultimate high yet… It has done just about enough to satisfy the upside target – as has USDCHF bouncing from [...] [...more]
DAILY FORECAST FOR AUDUSD Bias: The downside should be limited to 0.7982-00 today The 0.8141-66 resistance worked perfectly and I suspect we have seen the top here. However, there is a risk of what could be a deep pullback. The current losses may well have potential down to the 0.7982-00 area but cautiously I feel [...] [...more]
EURUSD did jump above resistance line at 1.4111, trend is positive now. Bulls needs to keep candles above resistance, otherwise bears will enter into the market with a danger for bulls. Buying opportunities are on the table. 1.4100 price level has become very important for both sides, bulls and bears. TA.EURUSD 2009-06-30 TA.pdf [...more]
2009-06-30: Rally in Equities Pushes Investors to Riskier AssetsAn extremely bullish day for the equity markets pushed investors back to riskier higher yielding assets and away from the safe haven USD and JPY causing them to plummet against their riskier counterparts. The rally in equities along with a weak Dollar has also helped push Oil [...] [...more]
2009-06-30: Crude Oil Surges Past $72 a BarrelThe price of Crude Oil surged passed $72 a barrel yesterday, rising an astonishing $4 to $72.68. This was fueled by 3 dominant factors. Firstly, there was yet another rebel attack in Nigeria, forcing the Shell Oil Company to close one of its refineries yesterday. Additionally, there was [...] [...more]
2009-06-30: Rally in Equities Pushes Investors to Riskier AssetsAn extremely bullish day for the equity markets pushed investors back to riskier higher yielding assets and away from the safe haven USD and JPY causing them to plummet against their riskier counterparts. The rally in equities along with a weak Dollar has also helped push Oil [...] [...more]
The failure for the Dollar to make any significant gains yesterday is beginning to wear down the general expectations I have been holding and does therefore begin to force me into considering alternatives. I remain with the conflict that I see between a break towards the 1.4177-1.4212 area in EURUSD which will almost certainly imply [...] [...more]
DAILY FORECAST FOR GBPUSD Bias: I suspect we’ll see losses today towards 1.6277-1.6313 While the risk of a stronger rally to 1.6850 is possible I feel this will not come in one move. Thus the 1.6662-80 area should probably cap today for a correction lower. Thus watch for bearish reversal patterns. I feel that this [...] [...more]
2009-06-29: Oil Prices Still Failing to Stay above $70No matter how much downward pressure there appears to be on the value of the US Dollar, the price of Crude Oil still seems to have difficulty finding support above $70 a barrel. Dropping from over $71 to as low as $69 last Friday, the price of [...] [...more]
2009-06-29: Dollar Rises on Reserve Currency DebateAfter falling broadly late last week, the U.S dollar regained some ground on Monday as the market is watching cautiously to see if China will keep making comments on the reserve currency. China’s central bank did not mention the Dollar by name on Friday but said it was a [...] [...more]
