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…

Continue Reading →

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…

Continue Reading →

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…

Continue Reading →

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…

Continue Reading →

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…

Continue Reading →

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…

Continue Reading →

Weekly Commentary: 13th Apr 2014

Previous weekly commentary: Commentary on 6th Apr 2014 The USD Index tanked this week. This was a good reminder because that’s part of trading and you don’t get it right all the time. Looking at the weekly chart, price dropped with momentum, giving me an engulfing bar and closing back around $79.50. Will price drop…

Continue Reading →

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…

Continue Reading →

Weekly Commentary: 16th Feb 2014

Previous weekly commentary: Commentary on 9th Feb 2014 Hello Traders, The USD Index moved lower this week closing the week at $80.20. As mentioned last week, price seems to be ranging within an ascending triangle. However price looks like it’s testing the lower trend line. If price continues to move lower in the coming week, then…

Continue Reading →

USDJPY – A Yen Breakout?

(Click on image for larger view) Hi All, A quick update on the USDJPY. As you can see from above, the Yen has made significant highs since Q3 2011. While the trend is been bullish in the longer term, Yen made some corrections recently. (Click on image for larger view) Drilling down to a smaller…

Continue Reading →

Page 1 of 4