Weekly Commentary: 25th Aug 2013

Previous weekly commentary: Commentary on 18th August 2013 Hi Readers, As mentioned last week, the USD index continued to be in choppy water. The battle continues as the bears continue to lose ground and the bulls slowly pushes the bears away. Also, looking at the technical set up, $81 is still holding well and the…

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GBPUSD – A Textbook Rising Wedge?

(Click on image for larger view) Hello Traders, A quick update on the cable. As I write, I see a rising wedge in the making (on the 4 hr chart). I understand that the market is random and there’s no guarantee that price will definitely to short. However, I like it when I see price…

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Weekly Commentary: 4th August 2013

Previous weekly commentary: Commentary on 28th August 2013 Hi Readers, As mentioned last week, the USD index finally made a pull back since it’s decent on 10th July. The pull back can be a short term correction or it could be longer term upward trend continuation. To be honest, no one really knows what the market…

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EURUSD & GBPUSD – More Bearish Signs

(Click on image for larger view) Hi All, Quick update on GBPUSD. Looking at the 4 Hour chart above, price broke out of a rising wedge yesterday. Price also broke below the neckline (~1.53) which is an additional signal that the bears are back. An ideal short entry would be when price retest the neckline.…

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Weekly Commentary: 21th July 2013

Previous weekly commentary: Commentary on 14th July 2013 Hi Readers, The USD index moved slightly south this week which is part of the correction which started last week. Looking at price action at the moment, it looks like price will continue lower. The start of the week will be important to show if the bears…

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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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GBPUSD – Cable Respects Simple Technical?

(Click on image for larger view) Hi All, Just a quick update of what I’m looking at. As mentioned on 16th June (above), I was looking for a long set up for this currency pair based on a recent Resistant level that is now potentially turning into a Support – around 1.56. (Click on image…

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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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GBPUSD – Price Respects the Patterns

(Click on image for larger view) Hi All, This is just a quick update on GBPUSD. As mentioned on 30th May (see article) and 2nd June (see article), the price pattern gave a bullish signal – a double bottom which broke the neckline, followed by a pull back and a retest of the neckline. In the…

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Weekly Commentary: 2nd June 2013

Previous weekly commentary: Commentary on 26th May 2013 Hi Readers, USD Index broke out of consolidation and it is looking to continue south in the near term. Price looks like it is in correction mode as it has been in a healthy uptrend since early March. With Non-Farm Payroll this coming Friday, I look forward…

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