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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GBPUSD – W for Double Bottom

(Click on image for larger view) Hi All, A quick update on GBPUSD, looking at the daily engulfing bar from yesterday (29th May) made me interested in this pair. So I thought I zoomed in a little to have a peep at the 4 hour chart and guess what I found? A nice W shape…

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Weekly Commentary: 19th May 2013

Previous weekly commentary: Commentary on 12th May 2013 Hi Readers, The USD index closed the week with a significant high but it is also testing the high from July 2012. The coming week will be important to see if the bulls can sustain this momentum. If not, price could reverse south as it currently looks…

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Weekly Commentary: 12th May 2013

Previous weekly commentary: Commentary on 5th May 2013 Hi Readers, The USD index is now officially in a range market. Of course, price could continue north and start trending again. In line with my commentary last week, there is no convincing price action yet and, hence, I now hold a neutral view. The start of…

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Weekly Commentary: 28th Apr 2013

Previous weekly commentary: Commentary on 21st April 2013 Hi Readers, The USD index continues its indecision. As mentioned last week, I wanted a break above the $83.50 resistance level but I did not get it. At this point in time, I do not have clear indication of where price is heading to. With that, I…

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Euro & Cable – Price Action Says “Stay Out”

Hi All, This is just a quick update on EURUSD and GBPUSD. (Click on image for larger view)  Price Action on the EURUSD chart above shows me a bunch of signals. However, when I take a step back, all I see is a mess. On my market update video posted on 9th April (watch video),…

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Weekly Commentary: 21st Apr 2013

Previous weekly commentary: Commentary on 14th Apr 2013 Hi Readers, The USD index made a surprised turn around this week. Looking Price Action, you would have seen a long trend bar on Wednesday followed by a decent false break bar on Friday showing further confirmation of momentum. This happened on the USD index as well as…

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Weekly Commentary: 24th Mar 2013

Previous weekly commentary: Commentary on 17th Mar 2013 Hi Readers, The USD index has been pretty bullish since early February. Nonetheless, price seems a little over extended at the moment. On top of that, it looks like it made a double top recently (14th and 19th March) around the $83 price level. With that, my near…

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GBPUSD: Cable Continues to Sink?

(Click on image for larger view) Hi All, This is just a quick update on GBPUSD. As price breaks below the 1.523 Support level, I’m looking forward to see how it will react to the next Support level around 1.478. If it breaks that support, the next longer term support will be around 1.425. In…

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GBPUSD – Will Cable Reverse into Range?

(Click on image for larger view) Hi All, Just a quick post on GBPUSD as this price approaches some strong barrier ahead of it. Looking at the chart above, there is a Support zone between 1.523-1.529 (Purple box). If price bounces off the support, then, price remains intact in this larger range-bound market. Let’s see…

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