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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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: 3rd August 2014

Previous weekly commentary: Commentary on 27th July 2014 Hello Traders, The USD index closed the week around $81.40. More importantly, the high of the week was around $81.70 before it closed lower. Remember the $81.50 resistance that I was looking for? While there is no clear sign that the price has broken that level, it’s…

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Weekly Commentary: 20th July 2014

Previous weekly commentary: Commentary on 13th July 2014 Hello Traders, Since the sideway market last week, the USD index had been crawling higher and closed the week around $80.60 and it was generally a sideway market – which isn’t much compared to last week. For a good confirmation of an uptrend, I need to see…

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Weekly Commentary: 6th July 2014

Previous weekly commentary: Commentary on 29th June 2014 Hello Traders, The USD index made a change in direction in the middle of the week. I wonder if this is a pullback or a reversal. Half year just ended and we have official started H2. Looking at the weekly picture again, the market seems like it’s…

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Weekly Commentary: 15th June 2014

Previous weekly commentary: Commentary on 8th June 2014 Hello Traders, As mentioned last week, I was expecting a more interesting week but that didn’t happen as the USD index did not move much. The market often surprises us but my view remains the same – based on market psychology, the more price consolidates, the more…

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Weekly Commentary: 1st June 2014

Previous weekly commentary: Commentary on 25th May 2014 Hello Traders, This USD Index closed around $80.40. As mentioned last week, I need price to break above the $80.80 price level for a more bullish bias. Looking at the weekly bar, price action gave us a doji bar, and that is a good indication that price…

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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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GBPUSD – Bulls Are Still Winning

(Click on image for larger view) Hi All, Quick update on Cable. As mentioned over the weekend (see article), I was waiting for a confirmation of a double top – which did not happen. The pair was also testing a long term resistance level again and I was waiting for clues in the market to…

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