Stocks and Dollars

The past week ended with a string of better-than-expected data releases from key major economies, suggesting the global recovery may avoid a more worrisome downturn. Mostly better than expected PMI’s from Europe, UK, China and the US were supplemented on Friday by a much stronger US employment report than was

Anytime we get above forecast and above 200K employment change and decline in unemployment, we get welcoming sign for the US economy. Risk appetite usually leads to pressure for the USD. Indeed we saw that against the commodity currencies like USD/CAD, AUD/USD and NZD/USD where dollar weakness was apparent right

With yesterday’s test of 1.3090 support area the consolidation pattern below 1.3218 can be considered as complete and my outlook is bullish, for a break through 1.3192, towards 1.3230, en route to 1.3360.

On Thursday Dollar/Yen continued trading within even narrower 10 pip range. The currency couple appreciated from 76.04 to 76.25 yesterday, matching the neutral Interbank sentiment at over +1%, closing the day at 76.20. This morning the Dollar is trading quietly against the Yen, and within yesterday’s range for now. On

The near-term price action remains in sideways mode, narrowing the range and forming an hourly triangle, after repeated upside rejections at 1.3200 zone, also daily Ichimoku cloud base. Array of supports lie at 1.3120, triangle support; 1.3084, yesterday’s low and the most significant 1.3025/00, range floor daily 20 day

The EURUSD was indecisive yesterday. Price has been moving sideways this week but overall still in a bullish phase after bounced from 1.2625 and broke above the trend line resistance (white) as you can see on my h4 chart below. The bias is neutral in nearest term. Immediate support is

EURUSD trading was mixed Thursday with the initial dip bought but the subsequent rally rejected, resulting in little net change for the day. But price action from Friday’s high of 1.3235 to Wednesday’s low of 1.3026, has formed a consolidating expanding wedge. This formation has a bias to break to

The potential bearish classical pattern discussed earlier remains valid while the pair is gradually approaching its neckline as seen on the provided graph. SMA 50-colored in red- becomes closer and is valued at 1.3110 where a break of which will weaken the neckline of the pattern. MACD traditional is definitely