The September Japanese Yen turned its main trend to down on the daily chart when the market broke through the last main bottom at 1.2547. This triggered an acceleration to the downside with traders setting their sights on the...
Read MoreTechnically, the September Swiss Franc is trading on the weakside of the retracement zone formed by the June 1 bottom at 1.0280 and the June 15 top at 1.0902. This zone is 1.0591 to 1.0618. It may act as near-term resistance,...
Read MoreThe U.S. Dollar rose sharply on Thursday as traders shed riskier assets for the safety of the Greenback. Fears of a global economic slowdown because of weakness in China,Germanyand the U.S.helped put the pressure on the Swiss...
Read MoreThe U.S. Dollar is extending gains against the September Japanese Yen this morning after weak U.S. economic data pressured riskier assets. Heavy selling in the global equity markets is sending traders into the safety of the...
Read MoreThe weekly August Natural Gas futures chart indicates that the market is moving closer to turning the main trend to up. This is something that natural gas hasn’t experienced since last summer. The weekly swing chart...
Read MoreAfter confirming the weekly closing price reversal top at 1.0446, the USD CAD is now on track to complete a 50% retracement of the rally from .9799 to 1.0446. This price level is 1.0122. Additionally, an uptrending Gann angle...
Read MoreOn Tuesday, the Nearby Euro futures contract took back its gains lost earlier in the week, giving it a solid gain for the week. As we approach the mid-point for the week, the Euro appears to be poised for further upside action...
Read MoreFollowing Monday’s closing price reversal top, a pattern that usually indicates the start of a 2 to 3 day sell-off, the GBP USD reversed course to the upside, setting up a near-term test of a major retracement zone. Based...
Read MoreI believe that in order to analyze a financial market properly, one has to look at the charts using a top-down approach. This means starting with the monthly chart and working down into the weekly and daily charts. Using this...
Read MoreThe September Euro rallied overnight after initial Greek election results seemed to indicate a win by the pro-bailout, pro-Euro party. The euphoria died quickly however as the air was let out of the rally balloon as traders...
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