Support & Resistance – Transforming A Chart

From Craig Cobb at Trade with Precision: Support and resistance is a flat level, a horizontal line. Boring I hear you say? Yep boring indeed but wow how it can transform my view on a chart! Something as simple as one horizontal line can take my view from yawn to WOHO! With the simple singular […]

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Chart Signals: Bear trap for the Aussie 200, Japanese markets getting overextended

The big rally in JPY and selloff in the Japan 225 appear be nearing extreme levels with the potential for a snap back move with RSI divergences appearing. Australia may also be starting to bounce back following what looks like a potential selling climax. NZD and AUD have been bouncing back taking advantage of a […]

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Chart Signals: Double bottom tests underway

A number of markets including the NDAQ 100, and WTI crude oil are retesting their January lows which could become a key turning point either creating double bottoms or starting new down legs.  Defensive plays like gold and JPY are looking a bit overextended and could be vulnerable to a trading reversal. Indices have been […]

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Chart Signals: Gold and JPY soar while indices break down

We’re seeing a big rotation of capital today out of stocks and back into defensive havens like gold and JPY. JPY is up big not only against USD but also EUR and CAD. Indices, meanwhile are getting hammered, they appear to be close to selling climaxes but we could still see retests of the lows […]

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Chart Signals: Could we see follow-through from Friday’s corrections to start the week?

Friday saw indices come under pressure while currencies reversed some of their big moves of the previous two days as traders elected to get out of positions ahead of the weekend and Chinese holidays. While some markets had been overextended, corrections have brought them back toward their 50-day averages. While many traders appeared to be […]

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When Giants Clash – EUR/JPY

The European Central Bank versus the Bank of Japan – who will win? Both are pursuing a “competitive devaluation” strategy through monetary stimulus, both desperately need the boost a lower currency can deliver to their respective economies. Over the last 7 months, the ECB has the edge, but that may change very soon. The BoJ […]

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Chart Signals: Currencies keep climbing as USD keeps plunging

We’re still getting a lot of follow-through on yesterday’s big USD plunge that released a lot of pressure from other currencies, confirming that a major trend chang appears to be underway. Gold also continues to advance as USD retreats. Index action has been more mixed but bases still appear to be forming in most indices […]

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Chart Signals: Major breakouts with RSI Confirmation for currencies and commodities

The big downturn in USD today has ignited across the board rallies in major currencies, gold and oil, completing bases and signalling new uptrends. Many of these rallies have been confirmed by RSI crossings or retests of the 50 line. Indices, however, have continued to struggle although US indices did pick up later in their […]

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Chart Signals: Indices under accumulation, JPY remains soft while AUD and NZD rally

Indices have shrugged off initial weakness and resumed their advances over the last few hours as RSI momentum turns increasingly upward. AUD and NZD have also been climbing ahead of today’s RBA meeting while JPY remains under pressure reacting to a more dovish Bank of Japan. Asia Pacific Indices Australia 200 continues to climb with […]

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The Bank of Japan Changes the Game

Already elevated market volatilities may increase further this week. After the BoJ’s announcement on Friday there is a different tone to currency, share and commodity markets. A huge week of global data and company reporting in the US and Australia could see significant market moves.  

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