ForexAnalytixPipczar

ForexAnalytixPipczar

If we break 1.0670 the USD index could see the 109.17 level. We are currently at 88% retrace and 161% ext.

ForexAnalytixPipczar

Last week's "Chart of the Day" highlighted the JPY futures (6J) as they were breaking down through wedge support. This has taken place, and now intervention talk is louder than ever. As this has happened, the risk for intervention has indeed increased and with the CHFJPY, it may pose a better risk/reward for fresh short positions (or long JPY). The Swiss National...

ForexAnalytixPipczar

The 6J is the Chicago Mercantile Exchange contract for the JPY futures. We have been in a bearish wedge and probing pretty key support. Our listeners of our daily show have asked our team how close we would be to intervention from the Ministry of Finance (MOF), or intervention rhetoric from the Bank of Japan in recent weeks. Our team has explained almost daily...

ForexAnalytixPipczar

The EURGBP is setting up for a good reversal as we have an inverted head and shoulder pattern technical setup. But what makes this setup so appealing at the moment is the market is very bearish the Eurozone and more bullish (relatively) the UK economy (as a whole). Rightfully so as the Eurozone faces a lot of growth issues and disinflationary pressure, while the...

ForexAnalytixPipczar

In this week's "Week Ahead" video I discussed the markets being "stretched" and were at risk of a pullback. Today we are seeing nearly a 1% pullback, but in a bull market as we are in, that is nothing to be concerned with. At least today. However, I wanted to outline the key levels any bull should be focused on, because if these levels outlined start to bear, we...

ForexAnalytixPipczar

Tomorrow we will have a lot of information and data given to the market. Everything from the QRA (quarterly refunding announcement) from the Treasury to know what the allocation (or mix) of supply will be for the market between bills/notes/bonds. Then we will have private jobs data from the ADP. Following that we will have the ECI (employment Cost Index), then a...

ForexAnalytixPipczar

EURUSD is at the 50% retracement and megaphone pattern support with corporate month end flows dominating the North American trading session. Don't be surprised should the EURUSD find it's footing following the European close.

ForexAnalytixPipczar

I don't think anyone can deny that we have broken out in the S&P500. Once we took out the highs last Friday, we have been rallying the whole week. However, we are now within points of a key resistance.  The 4920 level on the Tradingview CFD is 20 points away from the key 161% Golden Fibonacci extension (if you are using the ES contracts we are roughly 30-40...

ForexAnalytixPipczar

The false breakout in early December 2023, is leading to silver underperforming gold, but more importantly, at risk of a further breakdown. Long term, the silver market looks to be developing a long term triangle consolidation. And the false breakout could lead to a triangle support test near the 21.25 level. A break of the 22.50 intermediate support would open...

ForexAnalytixPipczar

The Kiwi was one of the pairs that ran higher at the end of 2023 as US Dollar selling flows hit the market as liquidity dried up. As 2024 has kicked off, we have seen a quick reversal lower to support ahead of the Non-Farm Payrolls report due out tomorrow. The risk is that the pair has 1. Created a false upside breakout of a channel during this period. 2. Has...

ForexAnalytixPipczar

Following the "inaction" of the BOJ overnight, the EURJPY and other XXXJPY pairs ramped higher. Many pairs hit resistance levels, including the EURJPY. The EURJPY completed and equal leg move to the 158.50's and with the underside of the broken channel being tested and the 50% retracement of the drop from 2023 highs within a stone's throw, the risk/reward is for...

ForexAnalytixPipczar

The German DAX has been riding high (new all time highs) due to the expectations that the ECB (European Central Bank) would be providing some needed rate cuts in the near future to the ailing German economy and the Eurozone. The DAX, as a result, has rallied to all time highs in recent weeks. Following the ECB meeting the DAX is now seeing a technical bearish...

ForexAnalytixPipczar

No matter how much China is trying to support its markets, whether it is monetary or fiscal stimulus measures in recent months, the equity markets have been very weak. Today's EDGE chart of the Day is the China A50 is a stock market index by FTSE which illustrates how weak some of the top A share stocks are in the Shanghai and Shenzhen exchanges are. We are...

ForexAnalytixPipczar

Last week we had Gold XAUUSD as our chart of the day and it ended up surpassing all expectations past the 161% extension above the 2060 level and even to new all time highs. However, that rally was short lived after the open as all short stops have been done (executed). Now, the risk is the gold market has completed an Ab=CD equal leg move and the risk is a close...

ForexAnalytixPipczar

Gold has made a strong rebound from the 200dma earlier this month. The 200dma also resided at the 38% retracement of the October range which acted as major support. Because the retracement was so shallow, while the gold market trades above 2010 (bulls probably are watching the 2K level specifically) the risk is for a move higher towards the 127% extension at 2035,...

ForexAnalytixPipczar

Even though the ZN 10yr notes look like they want to reverse higher (lower yields) we can't forget how bearish this long term trend is. While below 109'05 the bears remain in control

ForexAnalytixPipczar

We have been anticipating a reversal of the EURUSD at the longer term 61.8% Fibonacci retracement level at the 1.0960's level on the Week Ahead video and in recent daily FACE shows. This rejection of the 61.8% retracement was pronounced this week, however, the next could days will be critical for this reversal to take place. Tomorrow, although a US holiday, will...

ForexAnalytixPipczar

The US Dollar index is at major technical support. We are trading around the 38% retracement of the July 2023 lows to the October 2023 highs. The recent pullback Also is at the previous descending channel trend line (see 2023 price move until September). Also, just below price is the 50% retracement, 200dma and potentially bull flag pattern support.  Even though...