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EUR/AUD: Buy Shallow Dips after Break to New 18-Month Highs

Thu, 23 May 2013 01:54:52 +0000

The EUR/AUD has surged higher over the past 24 hours, reaching its highest price since November 2011 earlier today. This breakout clears the road for further gains over the rest of the week, but the prudent traders may prefer to wait for a pullback to enter the recent uptrend at value.

Commentary from Brad Gareiss and Matt Weller, Technical Analysts, GFT
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UPDATE: GBP/JPY Sell Off Resistance at 4-Year Highs

Wed, 22 May 2013 01:50:59 +0000

With a potentially high impact BOJ meeting taking place after today’s North American trade, we are looking to move the stop loss on our open GBP/JPY short down to 155.75 (above previous-support-turned-resistance from earlier this week) to lock in profits ahead of the statement and press conference. We will leave the original target unadjusted at 155.10, though more conservative traders may want to consider closing the trade out at current market rates to avoid the event risk altogether.

Commentary from Brad Gareiss and Matt Weller, Technical Analysts, GFT
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USD/CAD Set to Bounce from Bullish Trend Line

Tue, 21 May 2013 01:40:48 +0000

The USD/CAD is approaching a clear area of support that may present a low risk buying opportunity soon. Rates have been rallying within a clear bullish channel over the past two weeks, and the current pullback leaves the pair just above the lower end of the channel and previous-resistance-turned-support near the Monthly R1 Pivot at 1.0220 (a development we hinted at in this morning’s Candlestick Daily report). No trade opportunity is guaranteed to work, but the convergence of technical support levels around 1.0220 point to a higher-probability buy opportunity.

Commentary from Brad Gareiss and Matt Weller, Technical Analysts, GFT
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FOREX-Yen bounces off lows, eyes on BOJ and Bernanke

Mon, 20 May 2013 01:33:43 +0000

* Yen jumps on report Japanese govt may be happy with current level

Reuters: US Dollar Report
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USDCAD Bearish Harami Hourly Chart

Sat, 18 May 2013 01:30:35 +0000

Resistance: well above forecasted values Support: 1.0275 minor/1.0241 minor/1.0217 moderate USDCAD is in a bullish market though prices look overextended. Hourly charts show a low level bearish reversal candlestick pattern Bearish Harami. Given where prices are now the preferred course of action is to remain sidelined and skip on the trade. Any attempt at a correction would likely be limited to 1.0275.

FXstreet.com: Technical: Forex Signals
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NZDUSD Three Inside Up Hourly Chart

Fri, 17 May 2013 01:23:57 +0000

Resistance: 0.8188 strong / 0.8237 moderate / 0.8320 minor Support: 0.8104 moderate / 0.8055 minor / 0.7972 minor NZDUSD has a bearish bias though Hourly charts has formed a bullish reversal pattern Three Inside Up. With a strong resistance at 0.8188, the Pivot Point, just ahead of the pattern the preferred course of action is to wait for a push past 0.8188 before buying. Immediate target is 0.8237 then on to 0.8320. Stops should be placed below the patterns low.

FXstreet.com: Technical: Forex Signals
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Counter-Trend Buy as NZD/USD Showing Early Signs of Bottom

Thu, 16 May 2013 01:21:50 +0000

While the U.S. Dollar hit a new significant high against most major currency pairs yesterday, the NZD/USD remained auspiciously above support at the 2013 lows in the upper-.8100s. Out of all the major currencies, the Kiwi has shown the most relative strength this week, suggesting it could be the best candidate to watch for a bounce if the dollar rally takes a breather. With a clear stop loss level under this week’s low at .8170, there is a relatively low-risk opportunity to buy near current market rates.

Commentary from Brad Gareiss and Matt Weller, Technical Analysts, GFT
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EUR/CHF Soaring, 2-Year Highs in Sight

Wed, 15 May 2013 01:30:21 +0000

Though the rally in the U.S. Dollar has stolen all the headlines of late, the EUR/CHF surge of the past few weeks has been relatively under-the-radar. The pair has rallied nearly 300 pips since the start of the month, and based on the recent price action, bulls may be gunning for the 2-year high at 1.2570 next.

Commentary from Brad Gareiss and Matt Weller, Technical Analysts, GFT
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AUD/NZD: Near-Term Pattern Suggests Top Likely Around 1.2100

Tue, 14 May 2013 01:23:31 +0000

The AUD/NZD is ticking up toward the 1.2100 round handle for the first time in a week. This level marks the convergence of the 61.8% retracement of last week’s large drop (XA) and the 127.2% extension of today’s Asian session pullback (BC), creating a clear Bearish Gartley Pattern. If rates manage to rally up to 1.2100 (or secondary pattern completion at 1.2120), a reversal is more likely and a sell opportunity will emerge.

Commentary from Brad Gareiss and Matt Weller, Technical Analysts, GFT
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FOREX- Dollar tops 102 yen after G7, highest in 4-1/2 years

Mon, 13 May 2013 01:07:57 +0000

TOKYO, May 13 (Reuters) – The yen resumed its slide on Monday against the dollar and euro after Japan escaped direct criticism of its aggressive monetary easing programme at the Group of seven…

Reuters: US Dollar Report
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