All Blog Posts Tagged 'fx' (209)

USDCAD - Tracking positive Keltner channel towards 1.1674/95

An aggressive sell-off in late trading proved temporary yesterday with the bounce taking prices back near to opening levels. This rally keeps USDCAD close to the upper band of a rising Keltner channel and although an almost unchanged close reflects uncertainty intraday momentum and strength indicators are positive targeting 1.1655, 1.1674 and 1.1695.…

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Added by Alan Collins on December 18, 2014 at 6:59am — 1 Comment

USDCHF - Key average caps - Bearish Engulfing background targets .9595

There was limited net movement yesterday in USDCHF with both initial highs and subsequent lows rejected. But the failure to rally through the key 13 day moving average coupled with last week's Bearish Engulfing pattern keeps sentiment negative with potential to .9618 and .9595.…

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Added by Alan Collins on December 16, 2014 at 6:56am — 1 Comment

USDCAD - Keltner channels to lead USDCAD higher this week

The previous week's rejection of the lows extended last week. 4 of the last 5 days posted positive performances with the 13 day moving average supporting. This latest upside took USDCAD to the top of both daily & weekly Keltner channels, momentum is bullish and strength indicators positive and so although signals for sentiment are overbought there is no sign yet of anything other than temporary and limited profit taking and we look for gains to develop further with potential to 1.1628…

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Added by Alan Collins on December 15, 2014 at 7:34am — 1 Comment

EURGBP - Capped by key Average - .7832 targeted

Overturning the preceding week's improvement selling interest returned to EURGBP last week. 3 week lows were posted last Wednesday but almost half of the initial downside was regained the following day. This volatility means signals for sentiment cannot be clear but with the market consolidating below the 13 day moving average and the daily Ichimoku Cloud the focus is on the downside targeting .7832 and .7799.…

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Added by Alan Collins on December 8, 2014 at 8:17am — No Comments

EURUSD - Key average caps - 1.2332 targeted

Against a background of bearish signals for sentiment for this week, the capping of the topside at the 13 day moving average proved important. Using that point as a cap, yesterday saw renewed selling pressure. Steady downside resulted and even though last week's low went untested and prices are approaching oversold extremes, the decline leaves sentiment negative targeting 1.2332 and 1.2289.…

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Added by Alan Collins on December 3, 2014 at 6:59am — 1 Comment

EURGBP - Capped by average and Marabuzo line

This week's price action has been caught within a narrow range. Around the 13 day moving average and the daily Ichimoku Cloud this is a consolidation after last week's powerful decline. A lack of follow through in either direction means that immediate signals for sentiment are not strong but it is the upside failure that means 3cA intraday studies are negative with potential to .7907 and .7897.…

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Added by Alan Collins on November 28, 2014 at 6:59am — No Comments

GBPUSD - Through key average - Immediate potential to 1.5849

Demand for sterling continued the rise from this month’s low yesterday. In fact, the upside accelerated – producing the most bullish performance of the month. These gains also took CABLE back above the 13 day moving average for the first time in November. Latter, and overnight, trading has seen consolidation but sentiment remains positive with potential to 1.5849 or even 1.5872.…

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Added by Alan Collins on November 27, 2014 at 6:59am — No Comments

USDCAD- Setback to deepen this week

The bulk of last week's trading was around the 13 day moving average as the pullback from 5 year highs consolidated. However after the week's top was rejected on Thursday, more significant selling pressure developed to take USDCAD clearly below the 13 day line and to test the top of the daily Ichimoku Cloud. An early reaction to this move is expected but with sentiment now negative with potential through 1.1192 to 1.1143.…

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Added by Alan Collins on November 24, 2014 at 7:38am — No Comments

GBPUSD - Channel remains negative, targeting 1.5573

There was limited movement in GBPUSD yesterday - producing an 'Inside' day that reflects a degree of investor indecision. But for a 2nd day in a row, the upside was rejected and this, coupled with a declining Keltner channel and 13 day moving average keeps immediate sentiment negative with potential through 1.5599 to 1.5573.…

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Added by Alan Collins on November 19, 2014 at 6:59am — No Comments

GBPCHF - Temporary bounce has further to run

With signals cautious near the 200 day average rate, Monday’s trading saw sentiment improve by just over ½ Big Fig on the day. The buying has also come from close to the lows posted in June, Sep & Oct, but so far it hasn’t offered a bullish reversal pattern, or has it ended a sequence of lower daily highs. With this in mind, the outlook for Tuesday is just cautiously and temporarily bullish with potential through 1.5105 to 1.5150.…

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Added by Alan Collins on November 18, 2014 at 7:27am — No Comments

EURUSD - Further profit taking expected. 1.2686 targeted this week

Trading in EURUSD last week was trendless with direction changed on each of the first 4 days.This ended sharply on Friday with the week's lows tested and a powerful turn in sentiment that took prices to week's high.This ended a sequence of 3 down weeks and although this rally is tentative signals indicate scope for the bounce to extend temporarily in the coming days targeting 1.2623 and 1.2686.…

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Added by Alan Collins on November 17, 2014 at 8:38am — No Comments

EURUSD Capped by key Average, downside targets 1.2394.

The current lack of follow through in either direction was emphasised yesterday as price action countered the previous days for a 5th consecutive day. But although the gains were enough to regain Wed’s decline, the key 13 day moving average was again untested and it is that factor, coupled with Asian selling, that leaves sentiment negative targeting 1.2419 and 1.2394.…

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Added by Alan Collins on November 14, 2014 at 7:11am — No Comments

USDCHF - Key Average supports further upside

For a 3rd day in a row selling interest stalled at the key 13 day moving average. That point is acting as a platform but without yet translating into significant demand – only minor net gains resulting yesterday. This means that intraday signals for sentiment cannot be strong but with momentum and strength indicators (RSI) also mildly positive we look for buying interest to build with potential to .9701 and .9726.…

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Added by Alan Collins on November 13, 2014 at 7:00am — No Comments

EURGBP remains capped. Retest of last week'slows targeted

The Oct 31st Marabuzo line and the 13 day moving average continue to dominate EURGBP. That point has capped all rallies this month and although this has yet to be translated into a renewal of significant selling pressure, underlying sentiment is assessed as negative. So, allowing for further, narrow, volatility, we look for last week's .7798/99 lows to be retested.…

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Added by Alan Collins on November 12, 2014 at 7:00am — No Comments

GBPUSD - Marabuzo Line caps. Selling resumed

The market attempted to extend Friday’s profit taking yesterday. However, this demand was limited – failing, and reversing, above a Marabuzo line created by Thursday’s net decline. Resulting losses were minor but it is the upside rejection, coupled with a declining Keltner channel, that is likely to influence today’s sentiment with potential to 1.5791 and towards 1.5757.…

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Added by Alan Collins on November 11, 2014 at 7:02am — No Comments

USDCAD - Despite setback, Sentiment is Positive

Initial demand took USDCAD to the most positive levels traded for 5 years last week. Although last week ended with some sharp profit taking, a 2nd positive weekly performance in a row, bullish daily & weekly Keltner channels and the support of the 13 day moving average keep the focus on the topside with targets of 1.1400 and 1.1468.…

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Added by Alan Collins on November 10, 2014 at 8:17am — No Comments

EURGBP - Negative - dominated by Marabuzo lines

For a 3rd day in a row, yesterday saw demand falter and reverse at a Marabuzo line created last Friday. That level currently coincides with the 13 day moving average so the resistance is magnified. Yesterday's upside rejection came from a lower open and so the result was an almost unchanged close. But despite the indecision that normally highlights, and a failure to hold below .7800,the weakness of the bounce means sentiment is left negative targeting .7798/99 and .7782.…

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Added by Alan Collins on November 7, 2014 at 7:06am — No Comments

GBPUSD - Powerful rejection of the lows leaves sentiment positive

Initial powerful selling yesterday took GBPUSD to the most negative levels traded for 12 months. But that downside was almost equally aggressively reversed to leave prices only marginally lower from open to close. Overall in fact, there has been only minor movement over the last 5 days. Although this means that sentiment is not strong, yesterday's bounce sets the tone for intraday signals with a move above the key 13 day moving average increasing positive momentum. Our targets are 1.6024 and…

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Added by Alan Collins on November 6, 2014 at 7:03am — No Comments

EURGBP - Hugging Negative Channel/Capped by Average

After 7 days of indecisive range trading (capped by the 13 day mvg avg) Friday saw fresh selling of EURGBP. This renewed the underlying bearish tone reflected by the aggressive downside seen over the last 6 months.

Although this week has begun with consolidation, profit taking remains weak and we look for the topside to be constrained by a Marabuzo line created by Friday's decline and the 13 day line.

Downside targets are projected as .7770 and .7726.…

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Added by Alan Collins on November 4, 2014 at 1:05pm — No Comments

EURGBP - Gradual recovery to extend this week.

The rally from last month’s 2 year low extended last week. This 2nd up week in succession was a tentative move dominated by Monday’s gains and uncomfortable above .7900. In fact the last 5 trading days have oscillated around the important 13 day moving average. Although this clearly highlights a degree of uncertainty, and Friday’s close was marginally below the average line, 3cA studies are left mildly positive with potential through .7900 to .7932.…

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Added by Alan Collins on October 13, 2014 at 6:56am — No Comments

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