The EURUSD has trended lower since January when it reached 1.2350.
It looked like the 1.1950 support area would hold in February, but the bounce eventually failed, and the EURUSD broke below 1.1950 in early March.
Since that time, the EURUSD has been a tricky market to analyze.
It’s been even worse to trade, unless you managed to catch the latest downtrendContinue Reading
Ethereum (ETH) spent most of the last five weeks consolidating.
Although we saw the crypto gain 50% between late February and mid-March, it was part of a larger consolidation pattern.
However, that sideways action broke on Wednesday.
I talked about this at length on Twitter as the market was retesting the $1,870 resistance area.Continue Reading
I’ve discussed the significance of $1,680 for XAUUSD since March 2nd.
Gold bounced from the $1,680 area in March, but the bullish momentum faded last week.
However, today’s rebound from support looks much more convincing, at least so far.
Notice how Thursday’s rally has engulfed Wednesday’s selloff.Continue Reading
Last week I discussed a potential USDJPY long opportunity.
The pair was testing the 2015 trend line near 109.30, and given the bullish momentum, looked ready to break higher.
Last week’s 109.68 close appears to have done just that.
Today’s session tested the 109.30 area as support and is holding above that area for now.Continue Reading
The USDJPY looks ready to break above 109.30.
I talked about the potential for a bullish breakout last week.
The pair has been hovering just below the 2015 trend line, which usually suggests an imminent break higher.
Furthermore, the USDJPY has been on a tear since late-January.Continue Reading