NZDUSD – How Much Lower Will It Go?

  (Click on image for larger view) Looking at the chart above, the NZDUSD has been making dramatic lower lows. As the USD continues to strengthen, more majors are moving in one direction, and this one in particular is moving aggressively. As price is now testing the long term support (~0.664), I’m looking to see…

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Yen Testing Major S&R Level

(Click on image for Larger view) In case you have not noticed, Price of the Japanese Yen is now testing a very interesting level. This Major Resistance level was last tested in July 2007 and price has not been back here since. As Yen continues to weaken, will price (USDJPY) moves higher? My gut feeling…

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USDCAD – Signs of Weakness

(Click on image for larger view) Hi All, Here’s a quick update on what I’m looking at. The above is the USDCAD Daily chart and price has recently testing a long term resistance level (~ 1.28). This level was last tested in early part of 2009. However, there was a clear Support-turn-Resistance pattern in Jan 2004…

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GBPUSD – Bearish Strength Continues

(Click on image for larger view) Hi All, The above is the GBPUSD on a weekly chart. As you can see, price have been falling since July 2014 (see article) and it is still going strong. With the free fall, price was one directional. Price Action became interesting again at the start of 2015 as…

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Gold – No Clear Signals Yet

(Click on image for larger view)  Hi Traders, Above is the Gold on a weekly chart. Looking at the big picture, price has not been showing much direction. While price is moving with lower lows and lower highs, price seems to be narrowing into a wedge pattern. In fact, that’s a clear consolidation pattern. How…

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AUDUSD – Testing Old Support

(Click on image for larger view) Hi Traders, Hope the new year has been treating your well. If not, let’s start by starting afresh today now. The chart above is the AUDUSD weekly chart. As shown above, the market has been on a slow but gradual fall since July 2011. The gradual fall was not…

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NZDUSD – Finding a Long Entry At a Retest?

(Click on image for larger view) Hi Traders, Here’s the latest market update. In fact, I’m testing out this format, so please let me know if you prefer a commentary like this or if you prefer the short and simple commentaries that I’ve done in the past – see older posts. The Big Picture The…

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EURUSD – A Post-Fall Consolidation

Hello Traders, Here’s a quick update on the Euro. Looking at the chart above, price has made a dramatic drop since May 2014 after the break of a wedge pattern (see article). While price looks to continue it’s fall, it also looks somewhat extended – in other words, a correction is due. At the same…

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Gold – What Does It Mean?

  Hello Traders, Hope you are doing well. This is just a quick update on this precious metal. As mentioned on the 31st July (see article), Gold has been consolidating since mid 2013 and it has been testing a long term support level around $1180. Price broke below that level on the 31st Oct –…

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Weekly Commentary: 24th August 2014

Previous weekly commentary: Commentary on 17th August 2014 Hello Traders, The USD index closed around $82.40 this week, quite a surprising move for me but then again, this is a good indication of who is currently taking the lead in the market. The double high test bar proofed to me again that those who were not…

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