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: 1st Dec 2013

Previous weekly commentary: Commentary on 24th Nov 2013 Hello Traders, The USD index closed very slightly lower this week – it was another quiet market. Nonetheless, the high test bar on the weekly chart shows more indication that price looks like it’ll move even lower. With the non-farm results coming up this week, I look…

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Weekly Commentary: 24th Nov 2013

Previous weekly commentary: Commentary on 17th Nov 2013 Hello Traders, The USD index closed the week at around $80.70 – another sideway week. Nonetheless, it looks more and more like a mid term correction in the making. It price was to drop further, I would like to see it drop below $79 for a solid…

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Weekly Commentary: 17th Nov 2013

Previous weekly commentary: Commentary on 10th Nov 2013 Hello Traders, The USD index closed the week at around $80.80. This week has been a slightly sideway market and it’s also the first correction since the rally since 25th Oct. With that, I’m going to be in a wait-and-see mindset this week. The following is my watch…

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Weekly Commentary: 10th Nov 2013

Previous weekly commentary: Commentary on 3rd Nov 2013 Hello Traders, The USD index closed the week at around $81.30. As mentioned last week, there was a strong weekly engulfing bar and price continued further north this week. My immediate target is around $82.70 but it could potentially reach $84.80 if price moves higher. The following is…

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GBPUSD – What’s the Bigger Picture?

(Click on image for larger view) Hi All, Here’s a quick update on the Cable. On the 2nd Oct, I highlighted a long term downward channel (shown above) and, on 10th Oct (see article), I even found a potential Head and Shoulder pattern. However, after tracking price for several weeks, I did not get the signal…

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GBPUSD – Head & Shoulder Shows Lower Low

(Click on image for larger view)  Hi All, For those who has not been following my market commentaries, I’ve been keep a close watch of the Cable since 29th Sept (see article) and have been tracking its move ever since. Looking at the 4 hour chart, price made a nice double top at the top…

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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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