FX Commentary from Michael Hewson

One week on from EU commissioner Olli Rehn’s promise that a Greek debt deal was in the final hours of finalisation, and markets are still awaiting confirmation of that fact. It now appears we will have to wait until next Monday 6th February after yesterday’s announcement of an EU finance ministers meeting in Brussels.

This meeting will attempt to agree a new bailout, the size of the haircut applied to private bond holders, as well as new reforms the Greek government needs to undertake, which it is hoped finally draw a line under this long running saga.

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Short Setup for Adobe Systems Possible – M Reversal

Hi everyone,

to close out the week I have found a setup on Adobe which I think is quite interesting. As any followers of my posts would know, this type of setup is one that I talk about quite regularly but I think it is well worth spending the time to look for.

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Euro Aussie – Trend Channel

Hi everyone,

This set up reached its first objective last night, triggering the trailing stop I discussed in my previous post. I’ve outlined how this strategy played out on the chart below to assist those readers who have been following it

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VIX and the Non Farm Payrolls

Hi everyone,

I don’t know if it’s just me, but most months I find myself thinking that markets are poised at a significant tipping point leading into the US non farm payrolls figure and today seems to be no exception

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Live Online Education

Starting next week, CMC’s Head of Education and Analysis, David Land, is sharing his technical trading skills in a series of lunchtime online events. If you’d like to pick up some techniques to improve your trading, or brush up on existing skills from the comfort

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Bollinger Band and Moving Average Set Up

Hi everyone,

I thought this chart looks a good example of a situation that can develop into a worthwhile set up for traders who use Bollinger Bands

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Risk Diverges – Warning

Overnight action in markets presents a problem that needs resolving – shares and risk currencies rose strongly, but oil fell below key support levels – and appears to be

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Shorting setup on Bradken (BKN AU)

Similar to a post I put up last week for Television Broadcasts in Hong Kong , this setup is based on a fairly simple resistance level but I like the look of it because of the number of times this level has been tested – sometimes called an inflection point. You will see quite a few of these as you scan the market but it’s always nice to see a little bit more in terms of evidence and I think you will see what I mean when you take a look at the chart below:

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FX Commentary from Michael Hewson

Please find today’s FX comment from Michael Hewson market analyst at CMC Markets

The North/South divide in the Euro zone could not have been more apparent yesterday with the release of the latest unemployment figures, with German unemployment falling to post unification lows of 6.7%, while unemployment in Holland and Austria is under 5%.

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Euro:Aussie – update on trend channel strategy

Hi everyone,

The release of China’s better than expected Flash PMI figure has seen the Aussie Dollar rally. The PMI index is a gauge of manufacturing conditions and so a better than anticipated figure is supportive for Australian commodity exports.

This has pushed EURAUD through support at the bottom of the trend channel I posted yesterday. For readers following this set up, I’ve outlined an approach to extended profit objectives and moving stop loss levels on the chart below.

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