Weekly Commentary: 23rd Mar 2014

Previous weekly commentary: Commentary on 16th Mar 2014 After a few weeks of waiting, the USD Index decided to move north instead. The week closed at $80.30 forming a nice weekly engulfing bar. Is this the start of a bullish run? No idea. While my short term bias is bullish, my next resistance level is around…

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Weekly Commentary: 9th Mar 2014

Previous weekly commentary: Commentary on Hello Traders, The USD Index closed at $79.71 which is near the close from previous week. In line with my commentary last week, I’m looking to see some Price Action against the next major support level is around $79. If price goes below that with conviction, that’s also a signal…

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Weekly Commentary: 8th Dec 2013

Previous weekly commentary: Commentary on 1st Dec 2013 Hello Traders, As expected from last week’s update, the USD index closed lower this week at around $80.30. With such price action, this should give me comfort that the next target will be around $79. Price action has now set some direction for me and with December…

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Weekly Commentary: 3rd Nov 2013

Previous weekly commentary: Commentary on 27th Oct 2013 Hello Traders, The USD index closed the week at around $81. As mentioned last week, I was looking for a break below $79. However, price went north instead and it made a very clear bullish statement – a strong weekly engulfing bar. While it is testing June…

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Weekly Commentary: 13th Oct 2013

Previous weekly commentary: Commentary on 6th October 2013 Hello Traders, The USD index closed higher this week at around 80.5. As mentioned last week, I was expecting a price pullback. Price bounce off the $80 mark and it seems to suggest a potential longer term bullish run. Unfortunately, nothing is ever certain in the financial…

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Weekly Commentary: 1st Sept 2013

Previous weekly commentary: Commentary on 25th August 2013 The USD index was rather slow at the start of the week but the bulls showed that they were back since the middle of the week. While it’s too early too confirm (especially with the small pin bar on Friday), the bulls look like they could stay.…

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Weekly Commentary: 28th July 2013

Previous weekly commentary: Commentary on 21th July 2013 Hi Readers, The USD index moved lower this week and has been falling since 10th July. Looking at price right now, the bulls seem to be slowly crawling back into the market – as you can see a wedge growing slowly and steadily. With the 10th July as…

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Weekly Commentary: 7th July 2013

Previous weekly commentary: Commentary on 30th June 2013 Hi Readers, As mentioned last week, I was expecting the USD index to hit the next level of resistance, and it did. On Friday, price closed at $84.70. With that, my longer term bias for the USD is bullish. I would expect price to correct itself at…

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NZDUSD – Kiwi in Potential Elliot Wave?

(Click on image for larger view) Hi All, As you know, I love to trade price patterns and the Elliot Wave patterns is one of them. Having said that, I am not an E Wave expert and I do not trade on this pattern in isolation. In other words, I always use it in confluence…

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Weekly Commentary: 16th June 2013

Previous weekly commentary: Commentary on 9th June 2013 Hi Readers, USD Index continued its journey south with strong conviction, showings signs that the bears are back. The week closed at 80.80, breaking the support level around $81.40 (mentioned last week). Looking at price right now, my bias is short but I’m also aware that price might…

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