Each day last week saw net losses produced in GBPUSD but that setback from 4 year highs has proved temporary.
So at 3cAnalysis we’re looking for higher levels in the coming days with expected intraday dips being bought with potential…Continue
Recent consolidation ended last week with a move that emphasised the importance of buying at a 50% pullback point. Increasing demand resulted in the most powerful weekly gains since Jun and with the highest levels since 2009. The speed of the upside means signals are overbought and prone to profit taking but with prices hugging the top of both weekly and daily Keltner channels, and the 13 day avg supportive there is potential for 1.6878 and 1.7043…Continue
Added by Alan Collins on February 17, 2014 at 8:23am — No Comments
"Strategy Desk Comment
Added by Daologic on February 14, 2014 at 1:56pm — No Comments
Expected selling pressure last week was confirmed as the rejection of levels near the 50% correction point (1.1236, 2009-11 fall) was shown important. Although the 13 day m.a, and a Marabuzo line from Jan 22nd, held the downside for the bulk of the week, Fri’s selling confirmed a more negative tone. In fact, last week's performance was the most bearish since September and formed a Bearish Engulfing pattern on weekly candle charts.
So, although some volatility must be…Continue
Added by Alan Collins on February 10, 2014 at 7:28am — No Comments
This year has begun with a volatility evidenced by last week's decline – a move that reversed the preceding week's direction for a 7th consecutive time. However while this price action means sentiment is more difficult to assess, this latest decline took EURUSD to 2 month lows, reversed the prior week’s entire rise and closed below the Ichimoku Cloud, the 13 day and 100 day mvg avgs.
So we look for the downside to remain the focus with potential while below 1.3609 to 1.3400 and…Continue
Added by Alan Collins on February 3, 2014 at 8:23am — No Comments
" EURUSD: Slightly net sold in aggregate, despite hedge funds changing tactics and turning buyers for a change.
USDJPY: Net sold overall, mainly by hedge funds and asset managers. The private client community provided some half-hearted upside interest.
USDCHF: Gentle net buying pressure seen from a broad mix of investor segments.
EURCHF: Modestly net bought overall. Asset managers, corporates and private clients joined forces to gently buy the cross, while hedge funds were…
Added by Daologic on January 28, 2014 at 11:18am — No Comments
For the 3rd day in succession there was limited net movement in USDCAD Monday. This keeps the currency pair consolidating near the top of what is still a positively trending Keltner channel. More importantly last Wed’s Marabuzo line was untested and the lows were firmly rejected. This keeps underlying sentiment as positive and so we look for gradual gains to continue with potential to 1.1137 and 1.1174.…Continue
Initial selling last week took EURGBP to the lowest levels traded for a year. However, those lows were aggressively reversed as profit taking developed at an important 62% correction of the 2012-13 rise.
The resulting bounce regained all, and more, of the early downside, posted a Bullish Hammer pattern on weekly charts and close above the 13 day moving average. Sentiment is, therefore, left positive and we look for the topside to extend this week with potential through .8349 to…Continue
Added by Alan Collins on January 27, 2014 at 7:17am — No Comments
Unable to extend Tuesday's setback from 9 week highs, renewed demand was seen yesterday. While the net upside was limited prices are supported by the Ichimoku Cloud and the 13 day moving average.
In addition the 'golden' cross of the 13 & 100 day averages confirms a trending market with potential for the upside to retest this week's .9156 top and even towards .9192 in the coming days.…
Added by Alan Collins on January 23, 2014 at 6:59am — No Comments
Yesterday saw a reaction to Fri’s powerful decline as profit taking developed above this month’s lows. However the rally was severely limited – unable to regain even half of the preceding day’s decline. With that point and the 13 day m.a likely to continue capping, sentiment is mildly negative with potential for .8217 and .8198.…
Added by Alan Collins on January 21, 2014 at 7:00am — No Comments
This week’s signals for temporary gains have been confirmed with Monday’s strong 1 Big Fig gain and new 4 week high at .9087. The end to a sequence of higher daily lows generated a short position on Tuesday and with no sign that the deterioration is ending there is potential for .8865/75 area.…Continue
Added by Alan Collins on January 15, 2014 at 7:41am — No Comments
Buying interest reasserted last week. This resulted in a 3rd up week from the last 4 and maintained the positive tone reflected by a rising Keltner channel. The preceding week’s entire losses were regained after initial downside, and a strong setback Friday, attracted demand below the 13 day moving average. The volatility means that sentiment cannot be assessed as strong but our call is Cautiously Bullish with potential to 1.6566 and 1.6603.…Continue
Added by Alan Collins on January 13, 2014 at 8:42am — No Comments
Trading in CABLE was volatile yesterday, but within a narrow range. Price action was defined though by the fact that setbacks remained limited and a 2nd positive daily performance in a row resulted – confirming the market back above the key 13 day moving average.
Gains are gradual and signals cannot be strong until last Thursday’s Marabuzo line is broken but sentiment is positive and there is potential to 1.6510/28.…Continue
Added by Alan Collins on January 10, 2014 at 6:58am — No Comments
Against a back of bullish sentiment for this week, continued demand took USDCHF through the 100 day moving average – the 1st time since Sep. A 4th up day from the last 5 days means that the currency pair is trading at the highest levels for 6 weeks. Of course, the speed of gains leaves sentiment overbought but with profit taking remaining limited and CHF weakness in the background,further upside is assessed as likely with potential targets at .9136, .9165 and…Continue
Added by Alan Collins on January 9, 2014 at 7:25am — No Comments
Against a background of bullish sentiment for this week, demand resulted in a 4th up day from the last 5 Mon. This maintained the positive momentum from this month’s 11 month low. Signals are approaching overbought extremes but with prices now tight to the top of a bullish Keltner channel and testing the 100 day mvg avg, the underlying tone remains positive. targeting .8455, .8463 and .8481.…Continue
Added by Alan Collins on December 17, 2013 at 7:01am — No Comments
A 4th negative weekly performance in a row was posted last week. Signals for sentiment are overstretched but there are 3 main reasons why we still favour the downside;
In addition EURCHF is traded at 2 month lows with last week's decline the most negative since February.
Added by Alan Collins on December 9, 2013 at 7:21am — No Comments
In my personal view, any trader which want to be succesfull must have the right tools. Even if you are a talented trader, without the right tools you will not succeed. Trading is like any other high performance activity be it sport or job. A talented tennisman can not succeed if does not have the right tennisracket. A Formula 1 pilot can not succeed without a performant car even if he is a very talented and hard working pilot.
The first tool of a trader is the chart. You need to have…Continue
Monday's decline based at a Marabuzo line created on November 26 and the key 13-day moving average. These points proved their relevance yesterday, acting as a platform for a return of investor demand.
Although signals for sentiment can only be strong on a move beyond last week's high, we currently look for setbacks to attract buyers and so for the underlying positive tone to persist targeting a move to 1.3622 and 1.3645…
Added by Alan Collins on December 4, 2013 at 9:47am — No Comments
Initial selling was extremely limited last week and found fresh buyers at a Marabuzo line created Nov 21st. The resumption of demand yielded a 4th positive week in succession and the highest levels traded this year.
Signals for sentiment are at oversold extremes and so potential is clear for profit taking but with both the weekly and daily Keltner channels bullish and momentum positive, we look for setbacks to be temporary.
Potential targets this week include 1.6417 and…Continue
Added by Alan Collins on December 2, 2013 at 7:59am — No Comments
Wed’s strong rejection of the 13 day moving average deepened yesterday. But although a 2nd down day in a row was posted, selling pressure slowed however and was unable to test this month’s base, or the key 50% correction point.
Rallies remain temporary but the bounce from above .8300, and modest Asian demand, means intraday sentiment is assessed as positive with potential for a bounce to .8352/70 area.…Continue
Added by Alan Collins on November 29, 2013 at 7:20am — No Comments