The GBP/USD pair continues to climb. It has broken out of an expanding triangle, signalling a probable move higher, to an eventual target at 1.5470, however, the monthly pivot as well as the 50-day MA at the current highs are capping gains, and this could make further upside more difficult. We wo...
The USD/JPY pair has risen strongly and broken above the previous highs, reaching a 4-year new all-time high this morning after gaping up over the weekend. The gap is probably of the 'breakaway' variety since it marks a breakout from the consolidation and is a strong sign of a bullish continuation.
https://lh6.googleusercontent.com/-izppJVCBX7I/UV67qiWnV0I/AAAAAAAAD8I/OSr5mfObMNY/s460/GBPUSD05.png The GBP/USD pair has rallied up to major resistance at the 1.5250 level. A decisive break above the this level – or slightly above in the 1.5260s - would constitute a strong bullish sign and lead
https://lh6.googleusercontent.com/-5Jlw3XwI-n8/UUl7q2jaDoI/AAAAAAAADz4/n6iZNwzwyIw/s434/EURUSD20.png Eurodollar fell back into its down-sloping channel yesterday and dribbled lower, breaking below the 1.2880 level to reach new lows of 1.2845. It now seems probable it will fall to the next downside
https://lh5.googleusercontent.com/-HWP7rQyomTU/UUg7Klzw-hI/AAAAAAAADyY/KhHYE9Aj5AY/s460/EURUSD19.png The EUR/USD pair recovered yesterday after gaping down at first. It broke back outside its down-trending channel but has stalled after making some progress. This morning's activity has been bearish
https://lh6.googleusercontent.com/-HRmSwpTH7Hk/UUcCqTjD_uI/AAAAAAAADx4/8cqyLrYqI_U/s460/USDJPY18.png The pair gapped down this morning, eventually finding support at the monthly pivot at 94.40. Whilst it has since recovered and climbed back up to the 95.00 long-term support and resistance level it
https://lh6.googleusercontent.com/--HHgpcSMNpw/UUMD7hksgiI/AAAAAAAADw8/UAKF9ZbEBzA/s512/EURUSD15.png The EUR/USD pair has broken out of its down-sloping channel and moved higher. A cluster of resistance stands above it at 1.3110 including the 100-day MA but if it manages to break through that then
https://lh4.googleusercontent.com/-hjPzmPqAQ00/UUGfXWqOyQI/AAAAAAAADvs/7rEvLe_14yE/s434/EURUSD14.png Eurodollar sold off yesterday reaffirming the short-term down-trend as it continues making lower lows and lower highs. It also retracted back into its descending channel after temporarily breaking o
https://lh4.googleusercontent.com/-s2JIg5T27Os/UUBkNaPqJOI/AAAAAAAADus/4BbC-d19tQI/s408/GBPUSD13.png Although cable has been in a strong down-trend it has now met an initial target calculated from the breach of the lower border of the triangle at 1.4930, and It is possible we may see a rebound from
https://lh5.googleusercontent.com/-F08YOuCniac/UT7_YhJUpRI/AAAAAAAADsA/RF3BLt5xACE/w497-h373/EURUSD12.png Eurodollar is in a sideways consolidation with support in the 1.29s. The target for the head and shoulders top has pretty much been met so it is possible a reversal could develop, with a defi
https://lh5.googleusercontent.com/-g88WAvcCFJk/UT2uDk2VKGI/AAAAAAAADqk/RhufYVWQLtk/w472-h428-o-k/EURUSD11.png After the heavy sell-off yesterday, eurodollar has bounced off support at 1.2975 and recovered this morning, and it will probably continue a little higher until it reaches the top of the c
The USD/JPY has resumed its up-trend and broken out of the range that it has been consolidating in for the past few weeks. The rally currently looks unstoppable and it will probably continue higher, at least to the monthly pivot at 96.25 but probably higher to the 98.15 target, generated by extr...
https://lh5.googleusercontent.com/-IH5UhQ_81zQ/UThgIYhzvhI/AAAAAAAADn0/snQKPyNgXLU/s408/EURUSD07.png The EUR/USD pair is recovering this morning after a big sell-off yesterday which brought it back down to the 1.2960 lows. It will probably now rise up to resistance from the top of the range at 1.30
https://lh3.googleusercontent.com/-okVgG9rvt_w/UTcpUWYWAyI/AAAAAAAADnU/6G3xJr9cNSo/s415/USDJPY06.png The USD/JPY pair is still broadly consolidating within a range. The medium-term trend is up and the consolidation will probably break higher eventually and begin a new leg up. This morning it has r
https://lh5.googleusercontent.com/-3OkC1EGZ3dU/UTXAvKQPhGI/AAAAAAAADlI/1H7JOffC2lI/w456-h413-o-k/EURUSD05.png The EUR/USD pair has rebounded. If it breaks above the key 1.3100 level then it will probably reach the top of the channel at 1.3150 where the 100-day MA is also situated nearby. There are
https://lh4.googleusercontent.com/-1hgdmsBBOGc/UTR7Db02qoI/AAAAAAAADkI/X-T36kTbSgg/w472-h428-p-o-k/EURUSD04b.png Eurodollar continues falling in a steady down-trend. It will probably fall further until it reaches the next target down at 1.2900 taken from the head and shoulders pattern at the highs.
https://lh5.googleusercontent.com/-4RRyqXxWdwk/UTB69qf6C1I/AAAAAAAADis/c0d86qhXi04/w472-h428-o-k/EURUSD01.png Eurodollar is consolidating in a range. Yesterday it reached 1.3160 before falling back down and it will probably fall further, given today's bearish start, with the 1.3018 lows now in focu
https://lh5.googleusercontent.com/-ZQ6LkviU-f8/US8-NE9xOhI/AAAAAAAADiI/ZZ6yQmrYlF0/w456-h413-o-k/USDJPY28.png The USD/JPY stalled in its down-trend after the big down-day on Monday. It has now recovered slightly and reached resistance from the previous range lows. There may be a falling 3-methods
https://lh4.googleusercontent.com/-2m2gf2GNuYQ/US3Qx0u7FPI/AAAAAAAADgc/PERvwtT9Xvw/w456-h413-o-k/EURUSD27.png The EUR/USD's decline has stalled at support at the 1.3000 level where it is currently consolidating. It will probably resume its descent given the short-term trend is down and continue low