Weekly Commentary: 25th May 2014

Previous weekly commentary: Commentary on 18th May 2014 Hello Traders, This week the USD Index closed higher at around $80.40. This is inline with what I’m looking for and, as mentioned last week (see article), price needs to break and close above $80.80 as that will give me a new higher high in price action. The…

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EURUSD – A False Break or Not?

  (Click on image for larger view) Hi All, Just a quick update on the EURUSD. Since my commentary on the 11th (see article), the Inside False Break pattern has materialised but the pattern is only an early sign and not a confirmation of a reversal. Mistakes are not worth it Looking at price action…

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Weekly Commentary: 18th May 2014

Previous weekly commentary: Commentary on 11th May 2014 Hello Traders, This week the USD Index closed higher at around $80.10. To be honest, I would prefer to see another weekly bullish trend bar but you don’t always get what you want.  As always, I need to see another higher high for a more convincing bullish…

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Gold – What’s on the Mind of Traders?

  (Click on image for larger view)  Hi All, As mentioned on 20th Mar (see article), it was established that price is sitting in the middle between a strong Resistance (~1430) and a strong Support (~1180). As I write this post, that remains true. Also, since my last commentary on Gold (see article), price failed to…

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Weekly Commentary: 11th May 2014

Previous weekly commentary: Commentary on 4th May 2014 Hello Traders, It was an interesting week. As mentioned in previous weeks, I was looking for price to test the $79 level. While the USD Index did touch the $79 mark, it tested the level and bounced off it. It was a big turn around on Thursday…

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USDCAD – A Reversal In the Making?

(Click on image for larger view) Hi All, Since my last commentary on the 6th April (see article), price has been unfolding itself and it looks like a reversal pattern in the making. Why do I say that? Well, looking at the chart above, price has been on an uptrend since Sept 2012. While my long…

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Weekly Commentary: 4th May 2014

Previous weekly commentary: Commentary on 27th Apr 2014 Hello Traders, The USD Index started moving south at the start of the week and it made a big drop on Wednesday. Friday made some interesting development (thanks to non-farm data) as the day closed with a major high test pin bar. With that, price started to…

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GBPUSD – A Start of a Downfall?

(Click on image for larger view) Hi All, A quick update on GBPUSD. As I mentioned over the weekend (see article), the Cable has been quite annoying due to it’s recent aimless nature. As it is, price is testing a major resistance level and has been consolidating for awhile now. In fact, I managed to draw…

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Weekly Commentary: 27th Apr 2014

Previous weekly commentary: Commentary on 20th Apr 2014 Hello Traders, The USD Index continues with its uncertainties. As much as I want to see more movements in the USD, there isn’t much going on. The only consolation I have is that many of the majors have decoupled – to a certain extend of course. With…

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Gold – Patience Trumps Gold Anytime

(Click on image for larger view) Hi Traders, Since my last commentary on 20th March (see article), price broke out of the price channel, tested another soft support level (~1724) and managed to bounced off it. Looking at the precious metal again, it’s now back to test that level since that last bounce. Because the soft…

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