Currently we are at 0.9733 on the 1.270 fibo.  We are looking for a continuation down to the 1.618 Fibo support @ 0.9665. Market has a tendency to square up on Friday so be aware of that in the mix.  The current average daily trading range (ATR) is 87 pips.…

Currently we are at 1.2910 reacting to the Announcements.  We are looking for a small retracement to the 0.500 Fibo @ 1.2936 and then on to the 1.2800 number.  The retracement could end up a pullback to the S4 @ 1.3011 so keep that in mind. The current average daily trading range (ATR) is 105 pips.…

Cable is at a horizontal level with continuation divergence and looks like it could move to the upside, before we see price stall and create a head and shoulders pattern.

I'm short…

Currently we are at 0.9914.  We are close to our  S6 target (0.9889) and looking for a small retracement on the bounce and then a continuation to the (psychological) support @ 0.9800.  The current average daily trading range (ATR) is 87 pips.…

GBPUSD reversed sharply lower in the last few days with a daily close price beneath the lower side of a corrective channel which is an important sign for a completed rally since mid-March. In fact, decline from 1.5590 is looking sharp so we think it represents an impulsive formation which occurs in the direction of a primary trend. As such, we think GBPUSD will continue to weaken in days maybe even weeks ahead. Break of wave B) key level at 1.5195 will be next important evidence for a larger…

Currently we are at 0.8274.  We are looking for a sideways move and then a break to the confluence of the S5 and 2.618 Fibo @0.8200-8214 area.  The current average daily trading range (ATR) is 88 pips.…

Currently we are at 1.2995.  IF we can break this support, we are looking for a continuation to the support @ 1.2892 and then the S5  support  @ 1.2868. The current average daily trading range (ATR) is 110 pips.…

Currently we are at 83.61.  We are looking for a break above the  R3 @ 83.71 and then a continuation up to the R4 resistance @ 84.60. The current average daily trading range (ATR) is 139 pips.…

Currently we are at 129.79..  We are looking for a bull flag breakout above 130.00  to the 3^rd wave resistance (R5)  @ 130.82  then a continuation up to the resistance @ 131.15.    The current average daily trading range (ATR) is 193 pips.…

Currently we are at 1.2908. We are looking for a retracement and  then a continuation up to the Wave 1 R6 Resistance @ 1.2975 then the R4 Resistance later @ 1.2967. We are bullish.    The current average daily trading range (ATR) is 106 pips.…

The AUD once again fell across the board after the RBA cut its benchmark rate by 0.25% to 2.75%. This was not officially expected, but speculators were already looking lower ahead of the decision based on latest poor economic data in Australia. Technicals were also pointing for weaker AUD and once again they were right, fundamentals just a catalyst. AUDUSD is looking bearish now on the intra-day basis with possible extension down to 1.0150 as day progresses, but 1.0220/50 must not be…

Currently we are at 1.0236..  We are looking for a breakdown to the  lower trend wall at around 1.0176 and then a small retracement for a continuation to theS5 support  @ 1.0116.  The current average daily trading range (ATR) is 76 pips.…

AUDUSD reversed perfectly lower from 1.0380/1.0400 resistance region that we have been focusing on last week with our members. Notice that market made a very sharp fall from that level, clearly in impulsive fashion through the lower line of a corrective channel that has been tested as a resistance on Friday after the NFP report. We believe that was just a sharp corrective retracement, labeled as wave (ii) that is part of incomplete bearish cycles. With that said, we think that AUDUSD will…

Currently we are at 1.2760  and the C part of an A-B-C should get underway after NFP  .  A couple of different scenarios.  1:  a bounce @ 1.2750  for a double top @ 1.2850.  2: A break of the uptrend line would trigger shorts to at least the .214 Fibo support @ 1.2626. The average daily true range (ATR) for the pair currently is 103 pips.…

Currently we are at 83.36  and the long awaited bounce has occurred  .  We are looking for a break of the wedge and then a move above the 83.65 would target  the R5 @ 84.32.  After that a continuation up to the 0.214 fibo  @ 85.16.  The current average daily trading range (ATR) is 158  pips.…

AUDUSD reversed perfectly lower from 1.0380/1.0400 resistance region that I have been focusing on few days back. Notice that market made a very sharp fall from that level, clearly in impulsive fashion through the lower line of a corrective channel yesterday. Thats a very nice signal for a continuation of a larger trend which is clearly bearish on AUDUSD from early April high. Ideally, pair is now moving into a third wave that could extend even down to 1.0100. Any near-term bounce should…

Currently we are at 97.12  and the long awaited breakout has occurred .  We are looking for a small retracement back to the 618 Fibo@ 97.47 then a continuation first  to the top  @ 96.83 and then the S5 Support @ 96.18. The current average daily trading range (ATR) is 120 pips.…

EURUSD moved sharply higher yesterday and closed well above 1.3127 swing high as well as above upper base channel line. Thats a very important evidence for further EURUSD gains, this time through 1.3200 followed by a 1.3300. In the very near term, we expect to see 1.3220 where prices may slow down in black wave 4. Meanwhile traders should keep an eye on 1.3052 level as long it will hold, market is bullish.…

Currently we are at 1.0106  and testing a break of the bottom.  A break here would target the S4 and Support @ 1.0050 area.   We are could get a bounce and retracement to  the S3 @ 1.0152  then a continuation down. We are bearish.    The current average daily trading range (ATR) is 53 pips.…

Currently we are at 1.0343  and the long awaited breakout has occurred  .  We are looking for a small retracement at the R3 @ 1.0366  then a continuation up to the resistance @ 1.0460.  The pullback may show this to only be a correction for a continued down move so watch that. The current average daily trading range (ATR) is 92 pips.…