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January 9, 2017

AUD/USD Technical Analysis: Down Trend Set to Resume?

Talking Points:

AUD/USD Technical Strategy: Short at 0.7327 Aussie Dollar forms bearish candle pattern, hinting down trend resuming Short trade triggered, targeting initial support layer comes in below 0.73

The Australian Dollar put in a bearish Dark Cloud Cover candlestick pattern after testing falling trend line resistance, hinting it may be readying to resume its down trend. Last week’s brisk recovery was cut short in the wake of December’s US employment data.

From here, a daily close below the 14.6% Fibonacci expansion at 0.7266 opens the door for a test of the 23.6% level at 0.7211. Resistance is in the 0.7357-96 area (January 5 [...]

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January 5, 2017

FTSE 100: Persistent Rise Impressive, but Dip Risk Growing

What’s inside:

The FTSE 100 continues its persistent rise into record territory Risk/reward not great for new longs, but shorting isn’t viewed as a great option either Pullback/consolidation phase will do the market some good

The FTSE 100 continues to walk itself further into record territory after recently breaking out above the April 2015 all-time closing high and October 2016 intraday high. The trend since the 12/2 low has been extremely persistent, with the FTSE having risen 17 out of the last 20 sessions. The only real opportunities to enter the market from the long-side have come on shallow intra-day declines.

As far resistance goes, there are obviously no price [...]

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January 5, 2017

AUD/USD Technical Analysis: Aussie Jumps Most in 4 Months

Talking Points:

AUD/USD Technical Strategy: Flat Aussie Dollar posts largest daily gain in four months vs. US counterpart Profit taken on short exposure, waiting to re-enter after upswing fizzles

The Australian Dollar is mounting a spirited recovery against its US counterpart, with prices posting the largest daily advance in four months. The dominant trend continues to favor weakness however while the series of lower highs and lows set from early November remains unbroken.

Near-term resistance is at 0.7306, the 23.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the 0.7367-96 area (trend line, 38.2% [...]

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December 29, 2016

USD/JPY Technical Analysis: Swing Chart Showing Pull Back Developing

Talking Points:

USD/JPY Technical Strategy: breakdown below H4 Ichimoku Cloud is ST worrisome for Bulls Macro factors continue to support uptrend and institutions may provide new USD/JPY bids Yen Gains On Upbeat Bank of Japan Summary

Our last piece highlighted the surprising outright political focus that Japan’s Chief Cabinet Secretary Yoshihide Suga gave to the JPY, which seemed to renew the Currency War rhetoric. A currency war develops when governments and central banks target currency levels for economic gain or a comparative advantage to other economies.

USD/JPY has been nearly vertical since the outcome of the US Presidential election aligned so cleanly with the [...]

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