Chart Signals – Thursday, Aug 28

Asia Pacific indices Australia 200 has levelled off in the 5,600 to 5,685 range. RSI suggests upward momentum fading and it could be vulnerable to a regional correction. A retest of the 5,555 breakout point appears possible in a pullback. Japan 225 continues to roll over, with the index and the RSI drifting back from […]

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EURJPY triangle in the making

Friday’s bid tone in the Yen has continued in the Asian session today. EURJPY may be forming a short term triangle that could provide a useful set up if Yen buying continues.

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Gold outlook – triangle hunch

Traders often drive their short to medium term strategies off the outlook (or trend) provided by the longer term chart. Here’s a hunch about the gold outlook based on the weekly chart

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Sell GBP/JPY Cluster Signal

Many traders have a favourite indicator or signal. Others try to remain agnostic, choosing the most appropriate signal for market conditions. However, many traders agree that several indicators pointing in the same direction is a stronger trade signal.   A potential triangle break, through the “big figure” of 170.00, would likely see the MACD cross […]

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Trading Alert – AUD and Commodity Currencies

The calming of market concerns over the re-unification of Crimea with Russia is benefiting risk assets generally, and commodity currencies in particular. The AUD and NZD strengthened overnight. While CAD has been weakening against the USD, and NOK is towards the middle of a trading range, the overnight moves put AUD and NZD near one […]

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Market Update and USDJPY chart setup

Last week I looked at a possible “abc”  correction setup emerging in USDJPY. This didn’t happen. Instead we might be developing a useful USDJPY chart setup in the form of a triangle pattern

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Looking for something to buy? – Check eBay

If you’re a natural bull, smarting at the all the bears and gold bugs coming out of the wood work over recent days, eBay might be a chart for the watch list

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German 30 – 3rd strike and it’s out?

The DAX looks interestingly placed tonight as it shapes up to another test of resistance before the IFO business survey indices

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Buy dollar strength

Weakness in USD/JPY appears to go against the fundamentals. The US Federal Reserve is nearing the end of its stimulus program while the Bank of Japan contemplates increasing its injection of funds. Less Dollars and more Yen should equal a higher USD/JPY, right?

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Right here – Sell EUR/USD

European data remains weak, despite strength in share markets. European Central Bank monetary policy is likely to remain “accommodative” for a long time to come. In the US, strong economic numbers, a solid start to company reporting season and Fed commentary all point to the end of stimulus efforts. This should mean a weaker EUR […]

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