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alan3cA Updated 

Two of yesterday's downside targets were met as sellers dominated the early part of Thursday. But those new, marginal, 10 month lows were firmly rejected in the 2nd half of the day and modest gains were posted into the close. The proximity of the 13 day line is a concern but the bounce does leave intraday studies positive and so our call for this morning is to Buy...

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Our first downward target for Wednesday was met. But that spike lower did not translate into a retest of this week's low and price action in EURUSD was muted. In fact all trading was confined within the previous day’s range – reflecting investor uncertainty. So although the market remains below the 13 day line and last Thursday’s Marabuzo line, immediate studies...

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Yesterday's report highlighted an underlying positive tone but an absence of buy signals. That proved correct as trading in USDCHF was muted Tuesday. An early decline found fresh demand near Thursday’s Marabuzo line and the 13 day mvg avg. That bounce did not translate into significant upside but it is the weakness of selling interest that ensures our technical...

alan3cA Updated 

The backdrop to EURUSD remains dominated by Thursday’s aggressive decline. Price action yesterday was muted with limited movement in range and net direction. This kept EURUSD under Thursday’s Marabuzo line and the 13 day mvg avg without attracting significant fresh selling interest. This means that today’s signals are weak but given the underlying bearish bias, we...

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A sequence of 4 up days ended yesterday. New 3 week highs were posted in Asia but the latter part of the day saw USDCAD consolidate in a narrow range at overbought extremes. The net result was only minor movement and this price action does not create strong signals for sentiment going into Wednesday. However, the undertone continues to be assessed as positive and...

alan3cA Updated 

In line with yesterday's outlook this week's decline from 22 month highs deepened. An attempt to renew buying it from the 13 day mvg avg was limited by Wednesday’s Marabuzo line. Failure at the crucial point translated into fresh downside that accelerated in the latter part of the day. Intraday signals for sentiment are approaching oversold extremes but while this...

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Yesterday's bullish forecast was confirmed. Following Tuesday’s indecisive price action at oversold extremes, a more significant profit taking rally developed. The resulting improvement, the most positive of this month, took USDCAD to test the 13/100/20 day mvg avg area. That area held despite solid net gains but while that does introduce a strong note of...

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In line with yesterday's bullish call, the rally from last week's low extended. But, as expected, this bounce lacked the momentum to break through, on a closing basis, a Marabuzo line from March 20th or the 13 day mvg avg. Minor net gains were still posted but it is the upside rejection that we look to begin a renewal of the selling pressure that has marked the...

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Our first bullish weekly target was met yesterday as last week's rise extended. CABLE was bought to the most positive levels traded for 8 week and although the speed and scope of recent gains means signals for sentiment are overbought, there is no sign yet of anything other than temporary profit taking. In view of this, Tuesday’s call is a Buy at 1.4225 but...

alan3cA Updated 

Tuesday’s strong move to 2 month highs was aggressively reversed yesterday. Selling pressure was the dominant feature throughout but post FOMC price action saw the decline strongly deepen . This move took USDCHF back to the key 13 day mvg avg – though that point was unbroken on a closing basis but although Asia has not maintained its lows our signals for sentiment...

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Contrary to yesterday's call, 2 days of indecisive price action was followed by a renewal of investor buying interest. The most positive prices for 8 week were posted as the resulting demand took the currency pair towards a test of a 50% correction of the Dec-Feb decline. Overbought extremes are an increasing concern but despite a decline in Asia this morning’s...

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Early gains to new 9 month highs were in line with this week’s bullish outlook. But with USDCAD above 1.3100, and at overbought extremes, profit taking developed. The resulting setback was not a deep one but strong enough to indicate scope for a deeper, though temporary, decline. So, with caution, this morning’s call is a Sell at 1.3085 but leaving room to Sell...

alan3cA Updated 

Yesterday's bullish call, after a break of a key mvg avg area, was justified as a 2nd up day in a row was posted. An intraday setback found fresh demand below the 100 day line with the resulting demand taking EURGBP through .8900. Intraday signals for sentiment are overbought and a reaction is likely. Nonetheless, sentiment is bullish and this morning’s call is a...

alan3cA Updated 

In line with yesterday's, and this week's, bullish bias demand for USDCAD continues. A 3rd up day in a row took the currency pair to the most bullish levels traded for 10 weeks. Signals for sentiment remain at overbought extremes but with the market hugging the upper band of a rising Keltner channel, we look for profit taking to remain temporary. So, this...

alan3cA Updated 

Yesterday's bearish forecast was confirmed as Monday’s upside rejection deepened. In fact our first weekly downside target of 1.3857 was the low of the day. Those lows were firmly rejected – a move that keeps CABLE oscillating around the key 13 day mvg avg. So immediate signals for sentiment cannot be strong but it is the close below the average that keeps our...

alan3cA Updated 

This week's first upside objective was met yesterday as the market used the 100 day mvg avg as a platform to reverse Friday’s setback. Net gains were not extensive and the 200 day average continues to be intact, on a closing basis. But although that introduces a strong note of caution, our technical studies are assessed as positive. So, this morning’s call is to...

alan3cA Updated 

Yesterday's bearish forecast had some success as CABLE was sold to lower levels for a 5th day in a row. But the lows of the day were sharply rejected in the latter stages with a strong positive bounce taking the market to a small net gain and to a retest of the 13 day mvg avg. This broad oscillation around that mvg avg means signals for sentiment cannot be strong...

alan3cA Updated 

This week's positive call has been confirmed with yesterday's move to our 2nd upside target. The most bullish levels for 8 weeks have been reached with the market consolidating above the 100 day mvg avg. Overbought extremes are a concern, as is the proximity of the 200 day line. But our studies are bullish and so, our call for this morning is a Buy from 7am but...