Overhead resistance needs to be taken out now. Indicators show losing momentum. Still I would be happy to bring the euro home for the weekend than the dollar.
Read more →The fundamental arguments are compelling. The technical picture irresistable. Bulls have their say. Bears polish their claws. One thing the candlesticks tell us: both sides are willing to stay on the sidelines until a clearer picture emerge.
Read more →The Aussie is now at a confluence of resistance levels at around 9530: The previous support line broken now turn resistance 61.8 retracement of swing high-low 30-ma on the daily chart Price shows immediate reaction. Some work might need to be done.
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Read more →Together with the previous high at 102.00, we might see some resistance before price is able to clear. FX is steeped in the use of Fibonacci levels. The A-B-C reveral pattern of higher-low is also a 50% retracement level.
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Read more →Things may be falling into place for a key decision to be made. We got the USDJPY at a 38.2 retracement (106.67) of the weekly high-low which is likely to act as a strong resistance. In the meantime, EURUSD is supported by the 61.8 retracement (1.5566) of the daily high-low while gold
Read more →Well we got a number of big things last night: the Employment Situation for the US was out and then Oil reached nearly USD140 per barrel. It is fascinating that currency pairs prove that they abide by technical studies so closely. The USDJPY almost hit the 38.2% retracement
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