Chart of the Day:
In the decision fallout, price has spiked up to test the GFC low line we have marked on our chart and was rejected quite hard. That level and the gap level that we highlighted yesterday might get some attention near term, but they have to be seen as selling opportunities, surely.
More GBP charts in the Vantage FX Daily Market Update.
Chart of the Day:
Sellers have paused at this support level. Not sure if you should be too keen to catch this falling knife here though. There feels like a lot of momentum behind last week’s Kiwi selling.
Chart of the Day:
A market where everyone is expecting the RBA to cut in August. Waiting for the minutes to spoon feed them that a cut is guaranteed. That was always going to disappoint in some fashion…
So the minutes are released and the spoon feeding dovish rhetoric wasn’t enough to satisfy and he first level of support that price pulled back to (the channel bottom) was bought.
Ah markets!
Chart of the Day:
Again, looking at the technicals on the 4 hour SP500 chart from our Vantage FX MT4 platform, I still can’t make a case for a consistent pullback here either.
Intra-day, price is still in the midst of a strong bullish trend, with momentum still obvious following the break-out to record highs the other week. Price now continues to drift sideways in a bullish flag: A reliable continuation pattern as highlighted in the Education Centre of the website.
This is not yet the safest time to get down onto the train tracks and jump in front of momentum.
Do you trade US indices?
Chart of the Day:
Bulls, be aware that price has rejected off weekly trend line resistance, but as always, I’m viewing this higher time frame line as highly subjective. A few charts I’ve seen around the place have all used different points to draw their trend line so view it as a zone rather than a hard level.
Chart of the Day:
The Yen pairs were all sitting at pretty juicy resistance levels such as this:
Trade EUR/JPY with Vantage FX.
Chart of the Day:
The AUD/USD hourly shows what seems to be a bit of an equilibrium level. Zoom out and you can see that it is basically the midpoint of a range and a visual representation of a market full of traders not willing to position themselves heavily one way or the other.
Hot level. I’m shorting this.
Just a lazy 200 pips lower than when you posted that you were shorting Badem.
Great trading!
Chart of the Day:
“There is no 10 trillion yen stimulus”
USD/JPY Timberrrr!
Something our Analysts have been waiting for in our Daily Market Update. Subscribe today!
Chart of the Day:
FNN report: JP stimulus size to be JPY 27trln
Japan Ministry of Finance say it is not true they are considering 50yr bonds - debunking earlier WSJ story --Rtrs
Headlines whipping USD/JPY around. But…
Chart of the Day:
Another USD/JPY chart which shows what poor central bank communication can do to your charts.
Chart of the Day:
The technical nature of markets even during times of panic never ceases to amaze me:
Which one of you day-traders pulled the trigger here?
Chart of the Day:
Once again, technical selling in USD which was looking for any fundamental excuse to pull the rug out from under the market.
Chart of the Day:
Zooming into the hourly chart, the one level that clearly stands out heading into the release is the above marked spike off which price rallied hard the last time it was tested from above.
Chart to be viewed in the bullish context you can read more about in our RBA preview.
Chart of the Day:
And then the after:
Trading fundamentals isn’t about being right. It’s about managing misplaced market expectations.
Chart of the Day:
The size of the stimulus package was enough for the bears to take control of Cable, with the short term trend line never going to hold following news such as that. Again there still aren’t the levels down here so both technical and fundamental uncertainty make trading GBP pairs tough.
[B]Chart of the Day:[/B]
In an Olympic theme, today we take a look at GOLD!
We’ve been posting about looking to trade the bounce off support in the hope of getting in early for a break-out of the major trend line resistance level.
Price tested it, but resistance held again.
Chart of the Day:
All the past swing lows being respected on the way back up.
Bounce out of the higher time frame red zone, and then the red cross showing short term respect to the level for your potential entry.
Has this one got further upside in it?
See our NZD/USD analysis here.
Chart of the Day:
Price never got below the previous swing low and there were ample opportunities to take a long entry with a reasonably tight stop.
Following the RBNZ rally on a 0.25% rate cut (the new normal it would seem), longs got an extra potential +170 pips on the spike!
