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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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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Weekly Commentary: 10th August 2014

Previous weekly commentary: Commentary on 3rd August 2014 Hello Traders, The USD closed the week around $81.40 again. Looking at price action, the nice high test pin bar gives me comfort that price is about to retrace. Of course, this can be a pullback or before more higher or it can be a longer term…

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Weekly Commentary: 27th July 2014

Previous weekly commentary: Commentary on 20th July 2014 Hello Traders, The USD closed the week around $81.10, this is definitely a new high compared to last week and this looks like a more and more convincing new up trend too. On top of that, this is a new higher high compare to high in early…

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Weekly Commentary: 13th July 2014

Previous weekly commentary: Commentary on 6th July 2014 Hello Traders, The USD index closed the week around $80.20 and this week seems like a correction market. Having said that, when looking at the bigger picture, I need to remember that price is till pretty choppy and, in line with my commentary last week, until I…

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Weekly Commentary: 29th June 2014

Previous weekly commentary: Commentary on 22nd June 2014 Hello Traders, The USD index is finally moving lower. As mentioned last week, the market is testing the $81 resistance but the move lower is a healthy sign. My guess is that it will test the $79 level and if it breaks below it, the dollar will…

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Weekly Commentary: 8th June 2014

Previous weekly commentary: Commentary on 1st June 2014 Hello Traders, The market is full of surprises and you get a mixed of signals once in awhile. Looking at the USD index, even though I thought that price was about to move higher, price gave me different signal. Nonetheless, the bigger picture still holds and price…

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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: 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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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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