Tag: forex currency strength meter indicator

Divergence in euro complex

From a technical perspective last week was not an easy one for the euro with a divergence of sentiment across the complex. Against the USD it found some much needed support at the 1.0825 support level, which provided the springboard for a move up and through the VPOC on the daily chart at the key… Read more »

GBP in focus ahead of Autumn budget

This morning’s highlight comes from Chancellor George Osborne here in the UK with his Autumn Forecast Statement, so expect lots of smoke & mirrors, volatility and opportunity to shake traders out of the market.For the British pound complex on the faster time frames, it’s been a case of some good moves lower against USD, JPY… Read more »

And now we wait for the forex market to open!

Have been reading that carnage is expected and word is EUR/USD has already dropped to 1.1029 – although my MT4 hasn’t started as yet, so we will have to wait & see. Meantime here are some levels for some of the euro pairs : EUR/USD – was already bearish & shorts at CFTC increased last week…. Read more »

Forget the euro, look at the British pound!

In all the brouhaha about Greece and the euro it’s easy to forget what else is going on in the forex market. Sometimes I feel Greece is taking up too much space in traders’ heads at the expense of other markets and currencies. And for a perfect example of what I mean look no further… Read more »

The yen currency matrix in focus as equities fall

The overnight fall in the Nikkei 225 of 1.76% has resulted in an impressive two bar reversal (aka a shooting star) on the daily chart for the USD/JPY – so no surprise to see the pair move lower in this morning’s trading session. What is perhaps more significant is this move in the JPY is… Read more »

EUR/NZD reverses recent trend for the New Zealand dollar

The EUR/NZD has delivered some excellent trading opportunities across all the timeframes this morning to the short side, following the recent heavily bearish sentiment towards the New Zealand dollar which has seen it weaken against all the major currencies. Indeed longer term the NZD is now looking increasingly oversold, so we may see this trend… Read more »

EUR/USD turns bearish moving through the VPOC

The EUR/USD continues to look bearish as it sits on support between 1.0885 & 1.0890 & just below the VPOC the yellow line on the volume point of control indicator. This level has now been breached on good volume and should take the pair to 1.0863. In addition the trend monitor has also transitioned from blue… Read more »

Aussie dollar and the AUD/NZD the ones to watch

Here in UK election day is almost here & we can expect reactions as soon as the exit polls start posting as well as the actual results. Heaven only knows what is going to happen. So far GBP has been fairly well behaved – moving more as a result of USD & EUR. Meanwhile in… Read more »

Bearish tone for GBP/USD continues in early trading

As the markets get under way in London this morning, and with a relatively thin day for fundamental news, the US dollar is once again advancing on the fast time frame charts and providing some excellent intraday scalping opportunities across the currency majors. Both the British pound and the euro have been selling off sharply… Read more »

Another great trade on the EUR/AUD

It’s been another great day’s trading on the EUR/AUD, which has continued the bearish tone from yesterday, following the RBA statement and a decision to keep interest rates on hold for the time being. The 60 minute chart has delivered a consistent trend today with the pair moving through the platform of support in the… Read more »