FX Weekly Report

Thank you Trading Metro

Pierre Charlebois — Tue, 19 Jan 2010 16:45:51 +0000

Hi all,

With regret I will no longer be posting the weekly report. All things change and so I must move on. I want to thank Sam and the gang at Trading Metro for the great experience and wish you all good fortune in your trading.

Peace

Pierre

Thank you Trading Metro is a post from the TradingMetro blog, FX Weekly Report. Get a blog like this for free by joining our trading community today. TradingMetro is the forex trading system and forex trading software marketplace for self-directed traders.

Has USD turned towards further strengthening?

Pierre Charlebois — Mon, 18 Jan 2010 03:14:59 +0000

Price action on the Dollar Index has now starting forming a range. The question going forward now will be if the larger trend has trully changed.

USD Index – Is this the start of an upward channel?

EUR/USD – Important support at 143.30 – A break lower could signal increased downside risk

GBP/USD – Still range bound

USD/JPY – Resistance has become support – Very important potential pivot point around .90

USD/CHF - Could also be in a new channel

AUD/USD – Could this pair be forming a double top?

NZD/USD – And has this pair topped or could it double top?

USD/CAD – Is this pair making a double bottom?

EUR/JPY – Range bound…

Has USD turned towards further strengthening? is a post from the TradingMetro blog, FX Weekly Report. Get a blog like this for free by joining our trading community today. TradingMetro is the forex trading system and forex trading software marketplace for self-directed traders.

The Dollar has started the week off loosing ground but…

Pierre Charlebois — Mon, 11 Jan 2010 04:29:36 +0000

The USD strengthening is certainly overdue. It is hard yet to tell if this recent move is more than a correction however the break is strong. I also ask myself if the overall long term weakness in the Dollar is going to continue. So will the Dollar strength be a correction or long term reversal?

USD Index – At this point starting the week with a downward correction might yield to another gain mid week.

EUR/USD – Has the pull back been a correction or the beginning of a new trend?

GBP/USD – Anything is possible with this pair at this puncture

USD/JPY – The trend may be changing but in the short term some more correction is possible.

USD/CHF – I would think that par is a significant barrier

AUD/USD – $0.94 is likely to be very significant for either a break out or reversal

NZD/USD – Like the Aussie this pair should be well observed at a double top?

USD/CAD – Wow… will the Loonie make par again?

EUR/JPY – Still range bound – Slight bias to the upside

The Dollar has started the week off loosing ground but… is a post from the TradingMetro blog, FX Weekly Report. Get a blog like this for free by joining our trading community today. TradingMetro is the forex trading system and forex trading software marketplace for self-directed traders.

3 Weeks of USD strength – Will the year start with more or is there a correction due?

Pierre Charlebois — Mon, 04 Jan 2010 03:16:40 +0000

The USD closed the year with a bang and reversed a 9 month trend. With how steep the trend is, it is reasonable to think the overall trend may have changed. Some correction is due, however with the volatility of late just about anything is possible.

UDS Index – Trend may have changed

EUR/USD – Consolidation or continuation?

GBP/USD – Direction unclear

EUR/JPY – Is the upside over?

AUD/USD – Direction unclear

NZD/USD – Also unclear – Not a strong downtrend

USD/CAD – Also unclear

USD/CHF – Consolidating with upside potential to follow

EUR/JPY – Still range bound

3 Weeks of USD strength – Will the year start with more or is there a correction due? is a post from the TradingMetro blog, FX Weekly Report. Get a blog like this for free by joining our trading community today. TradingMetro is the forex trading system and forex trading software marketplace for self-directed traders.

Will USD strength continue through to next year?

Pierre Charlebois — Mon, 28 Dec 2009 03:57:34 +0000

The move by the USD on the index and against the EURO is impulsive looking. A pull back is due however medium term USD strength is likely to continue.

USD Index – Impulsive looking move up – Re-tracement due.

EUR/USD – Impulsive looking – Are 5 wave down complete? Or is there a thrust left to come prior to a larger retracement?

GBP/USD – Still very corrective looking – Re-tracement possible

USD/JPY – Room for more upside

USD/CHF – Consolidation expected

AUD/USD – Looks like consolidation is due on this pair as well

NZD/USD – Pattern not clear – Upside possible

USD/CAD – Very unclear pattern – CAD has held surprisingly well against the USD

EUR/JPY – Still range bound

Will USD strength continue through to next year? is a post from the TradingMetro blog, FX Weekly Report. Get a blog like this for free by joining our trading community today. TradingMetro is the forex trading system and forex trading software marketplace for self-directed traders.

USD – From Zero to Hero

Pierre Charlebois — Mon, 21 Dec 2009 16:24:24 +0000

The last two weeks the USD has gained extremely well and seems to have signaled an overall trend change. Having said that, the strong move is due for consolidation/correction so use caution this week with thin volume ahead of the Holidays. Have a happy Season all and I will see you in the New Year.

USD Index – Correction due/coming?

EUR/USD – Consolidating?

GBP/USD – Still making a series of corrective looking moves – Direction unclear

USD/CHF – Correction/consolidation due?

USD/JPY – Could be a break-out

AUD/USD – Down trend looks weak

NZD/USD – Not a convincing trend here either

USD/CAD – Stuck in a range – Anything can happen

EUR/JPY – Surprisingly quiet – But the short term trend points up

USD – From Zero to Hero is a post from the TradingMetro blog, FX Weekly Report. Get a blog like this for free by joining our trading community today. TradingMetro is the forex trading system and forex trading software marketplace for self-directed traders.

USD strengthening – Will this continue?

Pierre Charlebois — Mon, 14 Dec 2009 02:30:58 +0000

The shape of the top on the EUR/USD is unorthodox and not typical. However the move down at this point is strong and impulsive. The next few weeks should be volatile and provide longer term direction.

USD Index – The move up is typical of a reversal – Let’s observer where and how a re-trace happens.

EUR/USD – Top is unorthodox but the drop is strong

GBP/USD – Trend-line is broken

USD/JPY – Trading in a very large channel

USD/CHF – Re-trace coming due

AUD/USD – Hard to call a top here

NZD/USD – Also in limbo

USD/CAD – Very narrow range – Which way will it break?

EUR/JPY – Still in long term range

USD strengthening – Will this continue? is a post from the TradingMetro blog, FX Weekly Report. Get a blog like this for free by joining our trading community today. TradingMetro is the forex trading system and forex trading software marketplace for self-directed traders.

Volatility hits 6 month high in many Forex pairs – What does this signal?

Pierre Charlebois — Sun, 06 Dec 2009 22:38:47 +0000

Friday’s moves in many Forex exchange rates as well as other key markets, is signaling just how much anxiety is pent up in traders who are now hanging on every new news item being released.

Technically this indicates a break out or reversal is taking place or is about to. Seeing where we are on the Dollar index and in particular the EUR/USD the balance of the year will prove to be interesting to say the least. I dare say, many a trader and investor will look back on this time as one of the most interesting if not bizarre times in the markets.

USD index – Will the break-out be real this time? How much pull-back might be seen?

EUR/USD – The current structure still qualifies as an ending diagonal but the size of the drop can not be ignored. Is there a final top left to come or is this the beginning of a drop. The Price is truly at cross-roads.

I’ve supplied two opposing potential counts on the shorter term.

GBP/USD – This pair did not drop as much as the EUR/USD but the candle pattern suggests a bearish potential.

USD/JPY – The reversal was overdue – The question now is where will the retrace come?

USD/CHF – Will the break-out hold? The move is not yet truly constructive

AUD/USD – This pair is also still in a range

NSD/USD – This pair is not yet quite constructive on the downside either. Range may still hold

USD/CAD – Another range bound pair

EUR/JPY – Is there yet a new top to come?

Volatility hits 6 month high in many Forex pairs – What does this signal? is a post from the TradingMetro blog, FX Weekly Report. Get a blog like this for free by joining our trading community today. TradingMetro is the forex trading system and forex trading software marketplace for self-directed traders.

Volatility remains high as the US Dollar continues to try and reverse its fortunes

Pierre Charlebois — Mon, 30 Nov 2009 02:01:14 +0000

This week saw a sudden turn back towards Dollar strength and a brief flight to safety amid the news out of the middle east regarding Dubai’s financial debacle.

It demonstrates how fragile the overall picture is of the world economy. Knowing this, the question is; what event might cause further reaction by investors and traders to run to safety in the USD.

From a technical perspective a common way a long term trend would end is in an Ending Diagonal (wedge). I have included a potential ‘Elliott Wave’ count on EUR/USD as one possibility of such a hampering.

Of course these counts on shorter term charts are always quite subjective so anything is still possible.

USD Index – Trend-line still holding…

EUR/USD – Is there an ending diagonal forming?

GBP/USD – Top may hold

USD/JPY – Is a bottom forming?

USD/CHF – Reflects the Index

AUD/USD – Channel support broken

NZD/USD – Is there a new channel forming?

USD/CAD – Range narrowing; which way will the break-out be?

EUR/JPY – Will the reversal be significant?

Volatility remains high as the US Dollar continues to try and reverse its fortunes is a post from the TradingMetro blog, FX Weekly Report. Get a blog like this for free by joining our trading community today. TradingMetro is the forex trading system and forex trading software marketplace for self-directed traders.

Dollar could be reaching the Rubicon

Pierre Charlebois — Sun, 22 Nov 2009 02:38:26 +0000

Looking at the Dollar Index, there is evidence that the long term trend is breaking down as the price action is now on the opposite side of the line. There is always a chance the price action could trail down further using the line as support, however this usually signals a limited move.

USD Index – There is now a trend-line that could act as resistance. A move above 77.00 would bolster the bullish case.

EUR/USD – Could be breaking – This week will be interesting

GBP/USD – My view here is I expect some downside but I wonder if it will be limited

USD/JPY – Will this pair ever bottom? There is a current support. Will it hold?

USD/CHF – Looks a lot like the Index or the EUR/USD upside down

AUD/USD – Broke trend line but did not close below it. Let’s see what happens following the retrace

NZD/USD – This pair has broken through it’s long term trend-line. A break below .7080 could bring acceleration

USD/CAD – Seems to be working higher. The 1.09 area is the next resistance point

EUR/JPY – Until the long term range is broken not much can be observed here

Dollar could be reaching the Rubicon is a post from the TradingMetro blog, FX Weekly Report. Get a blog like this for free by joining our trading community today. TradingMetro is the forex trading system and forex trading software marketplace for self-directed traders.