EURUSD – Watching the Wedge

(Click on image above for larger view)  Hi All, Just a quick update on the EURUSD. As we await for the new FOMC meeting minute release later today, I’m keeping a close watch of the wedge pattern on this pair. For those Fib users out there, (as I write this post) price is also testing…

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EURUSD – The Battle Between the Bulls and the Bears

(Click on image for larger view) Hi All, Just a quick update on this pair. I made a commentary over the weekend analysis (see article) giving a short bias for this pair. However, looking at Price Action in the last 2 days, it seems to suggest a different view now. On Monday, price made a…

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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: 27th Oct 2013

Previous weekly commentary: Commentary on 20th Oct 2013 Hello Traders, The USD index made another low this week and it is approaching the $79 mark that I mentioned last week. If price gives me a clean break below $79, that is a good confirmation that the bears are taking control. If not, we might see…

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Weekly Commentary: 20th Oct 2013

Previous weekly commentary: Commentary on 13th October 2013 Hello Traders, The USD index closed lower this week at around $79.70. In fact, the weekly bar made a new low. The bullish run I mentioned last week did not materialise and I expect to see even more bears from here. Nonetheless, I still feel that a…

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Weekly Commentary: 6th Oct 2013

Previous weekly commentary: Commentary on 29th Sept 2013 Hello Traders, The USD index moved lower this week but with little or nearly no conviction. In fact, the Friday bar was a bullish engulfing bar. With such an extended move from the last few weeks, I would expect price to pullback about now. Is the engulfing bar…

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EURUSD & GBPUSD Looking For Shorts?

(Click on image for larger view) Hi All, A quick update on the Euro and Cable. As mentioned in the recent commentary (see article), both of these currency pairs seems to suggest that the bears are just around corner. The EURUSD chart above shows a consolidation followed by a price action false break set up.…

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Weekly Commentary: 29th Sept 2013

Previous weekly commentary: Commentary on 22nd Sept 2013 Hello Traders, The USD index closed around $80.4 as made no real movement this week despite the big drop last week. It looks like the market it looking for some confirmation of some sort. With the end of the Q3 closing on Monday, I would expect some surprise…

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Weekly Commentary: 22nd Sept 2013

Previous weekly commentary: Commentary on 15th September 2013 Hello Traders, The USD index made a massive drop this week. It gapped opened at the start of the week and it just continued to fall for the rest of the week. The index closed around $80.5 and it also made a fresh low since the low of…

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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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