Just read an article on ZeroHedge reviewing performance of stocks, currencies and other assets for 2017: The Dollar was a bloodbath this year – the biggest loss for the greenback since 2003… Well, if that’s a bloodbath (see the chart below, USD top right – click to enlarge), I am quite Bullish on USD for 2018 (even though it […]

This is a very interesting rejection that could lead to CAD reversal. And of course, as AUD, NZD and CAD have been leading the recent Bullish surge, it could in turn cause correction in these other currencies… …speaking of which, AUD certainly looks a little bit overextended… However, judging by the Weekly chart, I would […]

Quoting Scotiabank: AUD positioning is a little more perplexing; the modest net long in the market that has persisted since mid-year has turned into a large and relatively significant net short. Week on week, this is the largest positioning shift against the AUD since the carry trade rout of 2007. There is little obvious fundamental […]

Price has been rejected from the lows, but if it shows weakness trying to break through the current price congestion, this is a good Short opportunity. After strong rejection from the lows last week, and weaker Bearish correction, my bet is that Price is going to test the Daily highs again. It is a struggling […]

Only waiting for a weak pullback, preferably between 2 yellow levels on H4… Very tricky rejection, but Bearish trend remains intact. There is a good chance of spending some time between the two yellow SR levels. Rejection from the resistance will signal a Sell entry. My trade from 3 weeks ago just got closed in […]

That happened faster than expected. Let’s see how the price acts at this lower support and if any weaker pullback is offered to establish a short entry. That short idea did not work out very well and the trend is now officially reversed. Still trading in a bigger range on Weekly, but there is enough […]

As we approach the bottom boundary of this 2 months long range, I am watching closely for a breakout. EG might be preparing a Weekly trend reversal. Price failed to reach the lower support, and trend remains down, albeit very slow one. On H4 price is being rejected from the most recent swing high – […]

While trend is clearly Bullish on Daily, the prior Bearish wave on Weekly is still causing some concerns. Price is approaching an important resistance, and Bears showed some strength in the last 5 weeks, breaking Bullish TL. As Price trades near the recent high, I am watching for a potential breakout failure. Recent Bullish strength […]

GJ is slowly correcting lower, and as it breaks the recent low many stops will be triggered. Given the context of weak correction after an explosive Bullish move 2 months earlier, a rejection of this coming break is very likely. Note too that we are in a weak pullback after a strong break above major […]