What happened with USDCAD?
Canadian Dollar (CAD) Spikes as Bank of Canada (BoC) Tapers QE
Yesterday the market zigged today it zags, NZD and Gold are rising together if that means anything
It was just bait for the whales
So was today a zig or a zag, I have lost track , in any case, I am sitting on the sideline until this market makes up its mind
A lot of contradiction in this table, swiss and US opposite ends, EUR and GBP on opposite ends but the commdolls are together in the middle.
Exactly. Currently, a market not to be trusted…
Three unusual things stand out for me in long-term forex analysis right now.
Firstly, I’m getting different results from Dennis’s methods when I look at 50EMA slopes. The point s not which is right and which is wrong - normally the two approaches agree. So what I’m saying is the divergence is significant and a signal for caution.
Secondly, most pairs are moving counter their long-term trends. This has been the pattern for several weeks.
Thirdly, I see sibling currencies moving in opposite directions. So CAD is extremely bullish, scoring 7-0, while USD scores 0-7. AUD is down at 3-4, while NZD is 6-1. CHF is 2-5, while EUR is 5-2.
Correction, misread my own spreadsheet - the forex charts showing with-trend price movement over the prior 2 weeks was 41% and 39% respectively, the week just finished it was again 41%.
CHF held on to #1 all week but it is not making us any money as CHFUSD and CHFGBP are barely in the green and CHFCAD is still negative
Strong day across the board for Yen pairs , but looking at AUDJPY, we have seen strong days before but where is the follow-through
Finally, some follow-through today, EURJPY is breaking out
Same story, Top Trade USDCHF is still moving sideways
What do you mean zig zag?
one day up, next day down,
possible bearish Head and Shoulder top in AUDUSD, Key level in 0.76, we break that then lookout below
Strong week for the CAD, so is CADJPY a new Top Trade or a continuation of the March entry, I will leave that up to you but I will use the March entry for my tracking
all green in early Monday trading, but these early moves never seem to hold, lets revisit this list in 12 hours and see how many are still green