Over 20 years in trading
After Yellen speach, the US dollar bulls are flying high today. This is highest level from August 31. with 121.72 for now. This level is strong previous resistance in the last two months, 61.8 fibo return is on test, daily MA100 at 121.79 as well. If the bulls manage this level, this could become a new stong support and the
Read moreWell, the EUR/USD fall is not surprise any more and on every comment, whether is from Draghi or Yellen, the pair is falling sharp. Today, the bears have reached the stong support at 1.0800/50, with low of the day at 1.0844 for now. Could we call this level support any more? Hardly. If this levels breaks, the next station could
Read moreAfter the break of daily MA100, the road to 1080 is open for the sellers. Previous up trendline at 1116 is the next target, 1100 after. This is the 5th red day in row for the precious metal and it looks like there is no sign of the recovery, the sellers are to serious and this looks ugly now, the
Read moreStrong technical resistances hold the pair on the way to recovery and the pair is returned to the downside again. 1.0890/900 is the target for the bears now, 1.0800/50 the next one. There is minnor support here at 1.0960/70, this could hold for a while. After each attempt to go higher, the sellers would take over and return the pair down, exacly
Read moreUS dollar strenght is melting gold slowly and gold is falling for days, heading towards daily MA100. That level could be a possible turning point for gold at 1135/38, if this momentaly support at 1150/53 breaks. There is several trend lines all over the chart and it’s always interesting for me to analyse and to trade gold, my favorite. On the way up,
Read moreSanta Draghi and Santa Yellen have promised a lot for December in the last couple of days, and of course that the EUR/USD felt it immediately, but the December is far away. Well, let’s put that promises aside and see what we have technicaly now, after this preaty huge fall. The buyers have waited above the strong 1.0800/50 support and hold the free
Read moreFED’s meeting coming up today at 18:00 h (GMT). Interest rate decision (official 0,25%) and monetary policy statement, without press conference. I wrote about all the previous FOMC meetings in this year and the possibility to raise interest rates and I must repeat that, I can’t see that will going to happen in this year. There is to many dovish members of the FOMC,
Read moreThe outer side of the previous strong support trend line want let go and the pair can’t pass true to reach daily MA’s 200 and 100 at resistance area 1.1115/35 for now. The pair has covered 23.6 of the ‘Draghi’s talk’ but this seams to be the sellers teritory now and it will be interested to see how will bulls respond
Read moreThe US dollar has strengthened against the Japanese yen for 7 days in a row, but the sellers were ready at the 121.40/60 again. In the last two days the pair has retreet bellow daily MA200 and reach 120.40, the level near the support at 120.20. This is the 9th week in which the pair is consolidating between levels 118.00 and
Read moreStrong week for the US dollar, the best in the last 5 months. At first, strong weekly trendline stop the fall and pushed the usd in the middle of October from 93.80/94.00, after wich the stong return was inevitable in the previous week after Mr.Draghi. In the previous week the index has broke all resistance areas easy in only two days and reach
Read moreIt’s obvious that Mr.Draghi is using all ‘weapons’ against the euro strengthening. Can he win this battle against strong tehnical levels only with talk? At my weekly chart You can see that the level 1.1400/50 is the ‘red zone’ and alert for him to act and he did each time. The bulls have tryed and succeeded to reach the uper line of the
Read moreMr.Draghi knows how to crush the euro lower, he is well known by his dovish stance and talk. This time during the press conference was the unwriten rule, when Draghi talks, short euro is sure thing. I wrote that today before the press and here we go, down for 200 pips until now. The pair broke trendline easy, daily MA100 and it
Read moreIn the last two weeks ‘the market talks’ about possible QE extension, but I don’t expect that will happen today. Mr.Draghi have said that, the QE program is giving expected results so far and based on that, there is no need for extension on my oppinion. Could we expect a rate cut? I don’t see that either as a possible
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