Our sister site, PatternRadar.com, dedicated to chart pattern analysis is now live!

Out staff has added chart paterns to our daily forex analysis.  Visit PatternRadar.com for daily updates on chart patterns!

AUD/USD pulls back to end of day support.

The end-of-day aussie has pulled back to 34ema high support and with this has made a small correction within the uptrend triggering a swing buy.  The support on the pullback extends to the .7068 to .7050 area so another push lower would not necessarily invalidate the correction.

The 60 minute aussie has a momentum set up [...]

Daily USD/JPY Breaking Uptrend Support

The uptrend line support that was waiting at approximately 97.50 broke down and has triggerd what could be a shift in what was a neutral USD/JPY market.  The breakdown does have one large obstacle and that would be the 97.00 major psychological number which is likely to be tested during the early Asian session.  The [...]

USD/CHF Bounces to Bottom of Range

The USD/CHF has sold off to channel support as prices bounce within in the range on the 30 minute chart.  The low risk entry here would be be play the support long with a tight stop places below the 1.1620 level.  If the 1.1600 level breaks it will be because the U.S. Dollar sold off [...]

USD/JPY sent lower on Dow weakness

The down is trading down 100 points this morning as earning seasons worries are starting to permeate the market.  The USD/JPY is reflecting the risk aversion with a move lower as the yen gains against a stronger dollar.  The support of 98.50 could be a low risk entry long for traders watching the intraday double [...]

EUR/USD bounces into downtrend resistance

The 30 minute EUR/USD is boucning into 34EMA low reisistance setting up a swing entry short.  The 1.3000 level overhead should provide good psychological resistance as the near term move lower will likely find support around the 1.2950 area.  If the 1.2940 level breaks down, look for a move to 1.2920.

Playing the Uptrend in the USD/JPY

There are some nice set ups that are trend following plays that could meet the needs of low and higher risk tolerance traders.  Both the daily and 15 minute charts are in uptrend cycles and offering pullbacks swing buys.  The pullback on the triggered as yesterday’s sell-off in the Dow push the yen higher versus [...]

USD/CAD Bounes on Crude Oil $50 Breakdown

Crude oil has been bouncing up and down through the 50dollar level and with today’s pierce it has a coordinating pop on the short term intrday charts like the 15 minute that’s setting up a swing short off 34EMA low resistance.  The short is valid as ling as prices stay below the .2150-.2155 area.  Ideally [...]

Risk Appetite, Wells Fargo, the financials and the USD/JPY

There is a big move in the pre-market Dow this morning as Wells Fargo has beat the street by nearly twice the expected EPS.  The USD/JPY - a barometer for equities risk - is moving higher at the dollar gains on the yen.  The Wells Fargo news is buoying the financials as earnings season is [...]

USD/CAD Selling Off to Intrday Quadruple Bottom

On the back of conflicting data, the loonie has been gaining against the greenback during the Thursday morning session.

The support is waiting at the minor psychological level at 1.2200 with “2200″ support helping buying support as well.  This is a well worn level as prices havw time and again bounced from this area of support [...]