GBP/USD has recently completed the high Clarity Triangle chart pattern identified by Autochartist on the 4-hour charts. The overall Quality of this chart pattern is measured at the 5 bar level as a result of the low Initial Trend (one bar), significant Uniformity (7 bars) and higher Clarity (8 bars).
Daily Forex Update: GBP/USD
May - 9 - 2012
AUD/JPY – Too Far, Too Fast?
May - 9 - 2012
In this week’s edition of FX QUANT LAB, one of the major ‘risk’ proxies came across our radar – AUD/JPY. As a review, these models were built in an effort determine where many of the FX pairs should be trading, thus we continuously monitor currencies which we have deemed to
The Daily Wave Analysis
May - 9 - 2012
Meanwhile the price moves in line with expectations. Presumably, impulse formation c of (y) of [ii] is completed. If this assumption is correct, we can expect a downward price movement in line with the wave formation i of (i).
Risk aversion continues to reign, and the USD continue to gain across the board, especially against the commodity currencies. The Euro also is pressured by the uncertainty of the Greek election and the relationship between new French president Hollande and German Chancellor Merkel. (Sarkozy has been agreeable to the German-led
EUR/USD Opens up 1.2870 as Spanish Yields Surge
May - 9 - 2012
The EUR/USD chart in the 1H time-frame shows a market with persistent bearish momentum. The RSI reading has held below 60 and has been able to tag 30. Price action continues to make lower highs and lows. The 5/9 European session saw equities fall, and Spanish yields surged, with 10-year
EURUSD: Weakens, Eyes Key Support Levels
May - 9 - 2012
EURUSD: With EUR on the verge of reversing its Monday gains, the risk is now building up towards the 1.2930/00 levels. Below here will open the door for a run at the 1.2879 level, its Jan 23′2011 low. As long as the 1.3387 level remains as resistance this view remains
USD/JPY – Below 79.50, 78.30 is Next Key Support
May - 9 - 2012
The USD/JPY continues to be bearish and is now cracking the 79.50 pivot. This was a resistance pivot on Oct. 31, 2011, and not really a support factor other than that. Instead, the 79.12, 61.8% retracement level might provide some support. However, the next key level of support is near
The USD/CAD has been putting on strength after finding support at 0.98. The rally has been strong pushing above parity, and nearing the 1.0050 consolidation resistance as we head into the 5/9 US trading session. There are no signs the market is stopping yet, but it will be interesting to