Category: Forex
USD at an important cross-road
USD Index – Is testing strong resistance, but we we break above here (close above on a weekly basis) the next target will be at 91.61, which is the Inverted Shoulder/Head/Shoulder target. On the way up we should expect strong resistance at 88.75 …
Forex News – US housing starts and industrial production rise in April
The dollar jumped against the yen after data showed U.S. housing starts rose more than [...]
Apple looking at a 34% decline…
With the courtesy of Peter L. BrandtIf Jess Livermore had ever seen the upper chart of Apple he would not hesitate to sell it short at this point (see his note “Test before selling short” in the upper right corner of his chart). The break below Li…
Forex Market Review – Euro falls below $1.27; pound falls on dovish BOE
Euro bearishness continues amid political uncertainty in Greece after the country called new elections, sending [...]
Forex News – BOE Governor King news conference
The following are highlights of Bank of England Governor Mervyn King’s comments at a news [...]
Forex Asia Review – Greece continues to pressure euro
Euro continues to be pressured by the political uncertainty in Greece and the increasing possibility [...]
EURUSD Daily Forecast: May 16
EURUSD Forecast
The EURUSD continued its strong bearish momentum yesterday, bottomed at 1.2721 and closed at 1.2723. There are no changes in my technical outlook. The bias remains bearish in nearest term testing 1.2625 region. Immediate resistance is s…
Daily Forecast for Crosses: May 16
EURJPY Forecast
The EURJPY was indecisive yesterday. There are no changes in my technical outlook. The bias remains bearish in nearest term especially if price able to make another clear break below 102.20 testing 101.00 – 101.50 support area. Immedi…
GBPUSD Daily Forecast: May 16
GBPUSD Forecast
The GBPUSD had a significant bearish momentum yesterday, fell below 1.6000 and slipped below the trend line support as you can see on my daily chart below. This fact is a serious threat to the bullish scenario and might create a beari…
USDJPY Daily Forecast: May 16
USDJPY Forecast
The USDJPY had a bullish momentum yesterday, topped at 80.32 and hit 80.43 earlier today. The bias is bullish in nearest term testing 80.60 – 81.00 before testing 81.80. Immediate support is seen around 80.00. A clear break back below…
