Feb 22, 2012

There is a break above the 80 handle and the USD/JPY continues to rally sharply since bouncing off 76.00. The daily chart shows a very bullish market the RSI pushes above 70 and 80. Although there it suggests near-term overbought condition, it also suggests strength in the break from...

Feb 22, 2012

For the EUR/GBP, the 0.84 handle represents a key resistance for price action since mid Dec 2011. The 2/22 European market pushed the pair above this resistance, making new 2012 highs and breaking out of a consolidation pattern. The 4H chart shows the strength of the breakout candle and...

Feb 22, 2012

After a counter-trend breakout signaling possible bullish continuation, the GBP/USD failed to reach the Feb. high near 1.5925. Instead, it topped off at 1.5878, and slid sharply in the 2/22 European session start. In the 4H chart, you can see this slide breaking below 61.8% retracement and pivot of...

Feb 22, 2012

Cable has dropped sharply breaking below its Support at 1.5750 and is now trading just above 1.5700. Immediate Support is seen at 1.5691 (100-DMA) which if broken can take the pair further down towards 1.5650-30. Important to note is that 1.5640 is a signifincant Support level on the monthly...

Feb 22, 2012

Still in the minor aside pattern below 1.3295 peaks and my outlook continues to be bullish while trading takes place above 1.3170 support, for a break through 1.3321, en route to 1.3450. A violation of the 1.3170 support will clearly state, that the prolonged consolidation below 1.3321 is still...

Feb 22, 2012

On Tuesday Dollar/Yen increased insignificantly with 30 pips. The currency couple appreciated from 79.55 to 79.87 yesterday, not matching the very negative Interbank sentiment at bellow -62%, closing the day at 79.72. This morning the Dollar resumed rising against the Yen, climbing to 80.29. On the 1 hour chart...