Stocks and Dollars

AUD/USD’s rise from 0.9387 accelerated to as high as 1.0752 last week and closed strongly. Initial bias remains on the upside this week and break of 1.0764 will target a test on 1.1079 high. On the downside, below 1.0564 minor support will turn bias neutral and bring consolidations But

USD/CAD’s fall from 1.0656 continued last week and reached as low as 0.9891, just inch above 61.8% retracement of 0.9406 to 1.0656 at 0.9884. Initial bias remains on the downside this week and break of 0.9884 would send USD/CAD through 0.9725 support. On the upside, above 0.9976 minor resistance will

GBP/JPY continued to stay in tight range of 119.98/122.63 last week and outlook remains changed. Above 122.63 will extend the corrective rise from 116.83 but we’d expect strong resistance from 125.48/68 cluster resistance (61.8% retracement of 130.83 to 116.83 at 125.48, 38.2% retracement of 140.02 to 116..83 at 125.68) to

EUR/JPY’s rebound from 100.74 resumed last week and reached as high as 108.13 so far. The break of the near term falling channel argue that stronger rally is underway. We’ll stay cautiously bullish in near term as long as 104.74 support holds. Current rise should target 38.2% retracement of 123.31

EUR/GBP’s rebound from 0.8529 resumed last week and reached as high as 0.8830, just ahead of 61.8% of 0.8529 to 0.8796 from 0.8669 at 0.8834, before forming a temporary top there. Initial bias is neutral this week and we’d expect some sideway trading first. Note that another rise will remain

Good news from Europe and the U.S. spur stocks, as October’s market surge reverses much of the wipeout in the year’s third quarter.

EUR/CHF continued to crawl lower last week as expected. We’d maintain the view that a short term top is formed at 1.2472 after hitting medium term falling trend line resistance. Hence, the cross should continue to spiral down back to 1.20/21 level. Nevertheless, a break above 1.2332 minor resistance should

Stocks tend to be most volatile around earnings season, when a good or bad report can make or break it. However, a good or even great earnings report doesn’t necessarily translate into a huge pop for a …