My Posts
Australian Dollar Tests Resistance Line
LATEST TRADING VIDEO: Euro Concentration ANNOUNCEMENTS: -Join me, DailyFX analysts and instructors at the FXCM Forex Trading Expo May 2-4 in Las Vegas! -check out the NEW DailyFX pivot point table Euro / US Dollar The rally from 13266 was in 3 waves and has now been completely retraced. As small as the advance was relative to the preceding 5 wave decline from the 2009 high, it does fit as a 2nd... [Read more]
Opportunity to Fade British Pound Strength
LATEST TRADING VIDEO: Super Bearish Equities ANNOUNCEMENTS: -Join me, DailyFX analysts and instructors at the FXCM Forex Trading Expo May 2-4 in Las Vegas! -check out the NEW DailyFX pivot point table Euro / US Dollar Failing to exceed 13700, the EURUSD has now retraced its entire advance from the ‘bailout’ rally gap open last Monday. By definition, the pair is still in a correction until... [Read more]
Dollar Yen Tests Middle of Former Range at 9250
LATEST TRADING VIDEO: Weekend Special – GBP and equities ANNOUNCEMENTS: -Join me, DailyFX analysts and instructors at the FXCM Forex Trading Expo May 2-4 in Las Vegas! -check out the NEW DailyFX pivot point table Euro / US Dollar Failing to exceed 13700, the EURUSD has now retraced its entire advance from the ‘bailout’ rally gap open. By definition, the pair is still in a correction... [Read more]
Euro May Correct Further against US Dollar
LATEST TRADING VIDEO: Closer EURUSD Look ANNOUNCEMENTS: -Join me, DailyFX analysts and instructors at the FXCM Forex Trading Expo May 3-4 in Las Vegas! -check out the NEW DailyFX pivot point table Euro / US Dollar Failure to extend lower warns that a larger correction is underway in the EURUSD towards 13820-14030 as either a 2nd or B wave. Near term structure is unclear (which probably means in... [Read more]
Dollar Mixed as Aussie Soars
LATEST TRADING VIDEO: short term charts ANNOUNCEMENTS: -Join me, DailyFX analysts and instructors at the FXCM Forex Trading Expo May 3-4 in Las Vegas! -check out the NEW DailyFX pivot point table Euro / US Dollar I maintain that the EURUSD is headed lower in either larger wave 5 or wave 3 of 3. Risk should be kept to 13573 and 13380-13405 is resistance. I view 13000 as the next level that could... [Read more]
Euro at 10 Month Low…and Headed Lower
LATEST TRADING VIDEO: short term charts ANNOUNCEMENTS: -Join me, DailyFX analysts and instructors at the FXCM Forex Trading Expo May 3-4 in Las Vegas! -check out the NEW DailyFX pivot point table Euro / US Dollar I wrote yesterday that “a small 2nd wave may be complete at last night’s high at 13573. A move above would expose 13650.” We can say with confidence that the high is in place... [Read more]
Sell the Euro on Near Term Rallies
LATEST TRADING VIDEO: short the EURUSD ANNOUNCEMENTS: -Join me, DailyFX analysts and instructors at the FXCM Forex Trading Expo May 3-4 in Las Vegas! -check out the NEW DailyFX pivot point table Euro / US Dollar The 4th wave correction in the EURUSD is likely complete. The top is close to parallel channel resistance as well as the 38.2% retracement of the decline from 14583 (common end points for... [Read more]
Australian Dollar Nearing Trendline; Watch 9265
Euro / US Dollar Favor a test of 13850, which is former support as well as the 38.2% of the decline from 14583. A daily close above the parallel channel line would expose 14030, which is the next level of former support and the 50% retracement. Short term support is at 13720 and only a decline below 13640 would suggest that the downtrend is back underway. British Pound / US Dollar The GBPUSD... [Read more]
Australian Dollar Continues to Firm
Euro / US Dollar A larger EURUSD rally, probably a 4th wave, may be underway towards 13870-14030. 4th waves are often choppy, usually flats or triangles. An impulsive rally from 13433 and corrective decline from 13738 may be complete. I cautiously favor the upside against 13530. British Pound / US Dollar After meeting resistance from former support / the 38.2% of the decline from 15825 / channel... [Read more]
British Pound Testing Potentially Strong Resistance
Euro / US Dollar A larger EURUSD rally, probably a 4th wave, may be underway towards 13870-14030. 4th waves are often choppy, usually flats or triangles. An impulsive rally from 13433 and corrective decline from 13738 may be complete. This is bullish but I am uncomfortable with long positions at this point with equities testing key resistance levels (another view is presented with the USDCHF). British... [Read more]
