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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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…

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GBPUSD – A Short Confirmation Required

(Click on image for larger view) Hi All, A quick update on the GBPUSD. I have been talking about the range (box) for awhile now and, on the weekend (see article), I mentioned that price did break out of the range. I was looking for a potential retest of the bottom of the box –…

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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: 16th Mar 2014

Previous weekly commentary: Commentary on 9th Mar 2014 The USD Index closed at $79.50 which is another slow but downward crawl. In line with my commentary in the last 2 weeks, more confirmation is required around the major support level ~ $79. Will we get it this week? Who knows… The following is my watch list…

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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…

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Weekly Commentary: 9th Feb 2014

Previous weekly commentary: Commentary on 2nd Feb 2014 Hello Traders, The ascending triangle continues to on the USD index. Looking at the USD index now, price seems to be moving towards the lower trend line of the triangle again. Will it break the trend line? Or will the triangle stay intact? Let’s see what we’ll…

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Euro & Cable Breaking Soon?

(Click on image for larger view) Hi All, Just a quick update, since the start of the new year, the market has been moving sideways for awhile. Interestingly, this is pretty obvious on the EURUSD and GBPUSD dual. As shown above, the EURUSD looks like it is forming an ascending triangle. As mentioned on 19th…

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Weekly Commentary: 26th Jan 2014

Previous weekly commentary: Commentary on 19th Jan 2014 Hello Traders, The USD index is a bit of a mess at the moment. I did not get the $81.50 break that I wanted and, since that not happen, I can only conclude that we’re going through some choppy weather. I’ll be watching with care. The following…

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Weekly Commentary: 5th Jan 2014

Hello Traders, Wishing you a Happy New Year. This is my first market commentary for the year and let’s work towards finding more profitable trades in 2014. Let’s start the commentary with the USD index. This week, price showed signs of bullish continuation after the weekly engulfing bar at the end of Oct 2013. Price…

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