Greetings once again, Everyone!

The USD/CAD and Crude Oil work through a rather “active” Day… considering the somewhat-”Tepid” movements of most Majors across The Markets.

Crude rallies back on an IntraDay View as The Loonie Pair follows suit in “normal” Inverse Correlation.

Here are The Hourly Views, so give them a Click for Levels.

Commentary is above, as always and Post-Time is 14:40 GMT.

Price clears our Ascending Triangle Formation on The Loonie, despite the slight Dollar Correction earlier… and Crude Oil now looks to Clip the $71.00 Handle of Static Resistance.

Continuation sees the $71.30’s, which will also bode well for the Canadian Dollar in the Immediate-Term.

Bearish Sentiment will not be seen with any real Significance unless the $66.50’s are Clearly Breached to the Downside.

The Loonie comes off of what may see as a Head and Shoulders Formation that so far has “failed” on the 4-Hour View.

In any case, a Breach of the Uptrend Line here sees the “Would-Be Neckline” Support @ the 1.1450’s/20’s Area… irregardless if you “accept” The Pattern or not.

Continuation of the Dollar-Reversal to Weakness sees the “Basing” Areas of the 1.1300/1.1280’s in the Near-Term.

As always, please join me for more Updates as we move along!

I hope to See Everyone Soon!

Greetings again, Everyone!

Dollar and Yen Strength slowly grind away at most Majors and Crosses, despite The Majors still being largely Range-Bound and in Consolidation from the IntraDay Views.

The Asian Equity Markets are down as The Nikkei closes down 225 Points, and The Euro remains under Pressure ahead of The ECB on Thursday. This may begin to “even-out” with a bit of Appreciation, as most Institutional Views will favor a “Neutral” Sentiment going into the Meeting and Decision.

Here are the Hourly Views of The EUR/JPY and another look at where we are on The Euro from our last Update at 2:00 GMT.

Give The Captures a Click for various Levels, and Post-Time is 7:15 GMT.

The Euro Yen sees an Hourly “loose” Triple-Top Formation here, as Price looks towards the 132.60 Area of Daily Static Support with The Yen Appreciation, as Price breaches Immediate-Term 133.50’s Dynamic Support.

Clearance there sees the 131.40’s with Clear Bearish Sentiment In favor at this point… with a solid Violation above the 135.00 Handle Resistance to see any Bullish Sentiment resume.

The Euro sees out Magenta Dynamic Support Line that we spoke of last Update with Precision, so Rejecting or Respecting the Level is something to be Mindful of going forward, as it is a “New’ Support Area.

A Clip sees the 1.3950’s and potentially the 1.3880’s in the Near-Term…while Bullish Sentiment will only be Seen with Conviction if Price can Clear the 1.4118/20 Resistance, and remain above the Area.

We will see how “Deep” The “slight” Risk-Aversion that we are seeing progresses, as we bring in several more Updates throughout the Day!

Please check the just-published  “Currency Majors Technical Perspective” Report  for more Immediate-Term Details on The Majors. and please join me soon for another Update!

Greetings, Everyone and Welcome to Monday!

We have a somewhat-”rushed” Week with the U.S. 4th of July Independence Day on Saturday, which brings ADP, NFP, Jobless Claims and such a day earlier than usual as U.S. Markets will be closed for The Holiday.

The ECB holds the Majority of Focus this Week outside of the U.S. Data, where Inflationary Concerns still “haunt” The ECB, and their “Independent Stance” in general in relation to other Global Central Banks.

Dollar Strength sees some Daylight to begin the Week, as Crude Oil and Gold open lower.

Let’s check in with The EUR/USD, so here is the Hourly with Commentary above.

Give it a Click for Levels of Reference, and Post-Time is 2:10 GMT.

The Fiber sees Consolidation on the Hourly View ( nothing new here… since I have written and you have read this Word 4 million times in the past few weeks… hee hee… ).

Price simply cannot maintain and Hold above the 1.4100 Handle, as a fall into Accumulation @ the 1.4050’s  leads us into the “Confluence” Area of the 1.400 Handle with Dynamic Magenta 1.3980’s/1.400’s Support Area.

The 1.3880’s “Box” sees the next area of Support, where Bullish Sentiment is largely lost In Favor of Bearish Sentiment with a Clean Break.

It is early in The Asian-Pacific Sectors, and early in the Week… so we check back in with plenty of Updates for you!

In the Interim, please join me at the 6:30 GMT Hour for our European Session Installment of the “Currency Majors Technical Perspective” Report, and see how we have progressed so far!

See Everyone Soon!

Greetings Everyone, and A Fine Sunday to All!

Writing-Time is 7:30 a.m… so 14:30 GMT.

We move away from all of the quasi-political Rhetoric, as all of you know I can only do those Thoughts in small doses… this is not a Political Blog and being largely “Apolitical” myself… there are about 12 million other Venues for Political Views.  

Since it is about 4000 Degrees here in Phoenix already, thoughts of the Water and Surfing come to mind… so let’s have a look at our “Unit of Surfdom”, The Aussie!

We have seen significant Correction and Volatility on The Unit is the Near and Immediate-Terms, despite the fact that out on the Larger-Views, The Pair is Range-Bound and locked in Consolidation.

On The Daily View, we see a Clear Range between the .7780’s and the .8260’s as Price remains “trapped” at the Mid-Point as of this Writing.

A Climb or Fall to either Level will see corresponding Bearish or Bullish Builds as long as each Area Holds with relative Ease.

The Key will be the Observance of how Price BEHAVES at either Level… does It shoot right through?… or will it hover around with little Momentum Propulsion?…

The Hourly View sees the potentially Corrective “Cluster” Area that may be Seen for Bullish Builds… as Price currently consolidates and “Adheres” to the Transitive Rollover Area of the .8070’s Dynamic Support.

A Clean Break of the .7020’s/40’s could see the .7800 Handle with relative Precision, just as a Break of the Inner-Uptrend Line may see Bearish Builds enter if the .8120 Resistance Holds and Price falls for The Hourly Double-Top.

So while the Waves are “choppy” with Consolidation… A Clean Correction holding at the Mid-.79’s and a Clean Clip of .8120 could see a nice Wave for Surfing towards the Sydney Beaches at the .8300’s !

Have a fine Sunday, Everyone… and please join me later for The Sydney Open as we work into another interesting Week with NFP on the Way, The ECB, as well as the shortened- U.S. Holiday Week!

See You Soon!

Greetings, Everyone and Happy Saturday!

Writing-Time is 6:30 a.m. for me… so it is 13:30 GMT.

( It still amazes me how I have mastered World-Time Factors… considering my State of Arizona does not observe Daylight Savings Time. The World moves around Us and We sit still… melting in this Pizza Oven of Heat!… hee hee… )

My apologies for the lack of Update at the NY Close yesterday, so I will make it up to all of you right now!

Ready?

Here it is:

1) Range Bound

2) Consolidation

3) Dollar on The Immediate-Term Chopping Block

OK excuse my sarcasm here… because as is usually the case… when we have the “larger” Macro-Events such as GDP or a Central Bank Meeting and Decision… the Waters do tend to calm a bit out on the Larger Time -Cycles.

We wait with somewhat “Calm” Seas until the approaching Storms bring a Tsunami… or a little 3-Foot Wave that you cannot Surf on.

The Swiss National Bank Intervention, and corresponding Behavior in The Swissy and The Euro Swiss dominated any FMOC Activity and other Data Points in my personal View… which does bring up an interesting point!

Always Expect The Unexpected!

While the majority of Focus for ALL  Financial Markets was on The Fed… the previous Rhetoric and Actions of The SNB were overlooked as a “Precedence of Intervention”, if you will.

In many Instances, Central Banks will “intervene” more than once as the Monitor and Adjust Monetary Policy that suits their Needs.

The SNB certainly was not using C.I.A. ”Covert Black Ops” here… their Intentions were clear back in March, as well as “subtle Hints” over further Activity simply by the Clear and Symmetrical Range the EUR/CHF worked in over the following few months.

Here is The Daily View as Illustration… where if The Swissy continues Its Corrective Behavior… a Massive Double-Top here will be clearly moving towards Completion in the Mid-Term.

Central Banks will usually not simply act once and leave the Process alone, as we mentioned.

The RBA is now-notorious for Its “failed attempts” at previous Interventions of The Aussie Dollar that went largely ignored in recent years… and of course, we cannot forget about the “Masters of Failed Intervention”, The Bank of Japan!

The only Central Bank of The G8 tied directly to their own Government give the BoJ much less “Independence”, so they tend to “over-compensate” by consistent “Jawboning” of The Yen and Rhetoric of their overall Economic health.

As I have always said personally…The BoJ jawbones their Currency out the Front Door… while loading the Export Ships out the Back Door… loving every minute of it!

Perhaps a bit facetious on my part… but you see my Point.  

We can even use this Analogy of “Failed Mis-Guided Unexpected” Rhetoric with Ben Bernanke in “The Chair” with his Testimony.

With the Oversight Committee’s “Hell-Bent-For-Leather” Focus on the BoA/Merrill Deal in December… I would like to move through all of the “He-said-We-Said” and pose a some simple Questions/Thoughts:

Why all of the emphasis on how this Deal played out and “Fighting in the Sandbox” Rhetoric of Bernanke’s alleged Cover-Up and this and that?… all for the 55 Billion in TARP Funds?

Where is the Rhetoric and Front-Page News for the 180 Billion to AIG ???… Remember them ???

So let’s focus instead on the “politically correct” recent Legislation of highly-debateable Energy Bill… and let the 235 Billion here just remain “In Limbo” as this Administration buries Itself in Its Continual Struggle with “Too Many Pans on the Fire”.

Have a fine Day, and please join me tomorrow!

Greetings again, Everyone!

We see U.S. Futures bidding lower and set for a lower Open in about 15 minutes, as the People’s Bank of China reiterates, yet again, a “Call” and Statement for concern on The U.S. Dollar Continuance as the World’s Reserve Currency.

This type of “Jawboning” Verbal Intervention is never good for The Buck… and China is notorious for manipulating and pegging their own Currency… both “directly” and “indirectly”… such as in this case.

The PBoC would favor more Currency Diversification overall… with a preference at this point towards The Euro and slightly away from The Dollar.

Also increasing Risk Appetite at this point is the PCE Numbers of increasing Spending due to The Stimulus, as well as a  ”Reversal” of The Swissy moving higher and literally eradicating the recent Interventions of The Swiss National Bank.

Here are The Fiber and The Swissy on the Hourly Views, so give The Captures a Click for various Levels.

( Post-Time is now about an hour after The NYSE Open at 14:30 GMT. )

The Fiber looks to Bounce from the 1.4050’s Dynamic Support “Transitive Rollover” Area, as Dollar Weakness continues on the Near-Term.  As we spoke of last evening… the 1.41 30’s is the next Area of resistance to be Seen on Price Appreciation.

The Swissy sees Strength and is “hovering” at the 1.0860’s Confluence Support with the 23.6% Weekly April Fib Variant. Continuation with the Adherence to the Downtrend Line should see a Clip below the 1.0820’s.

Please join me again for more Updates to come, as always!

See You Soon!

Greetings again, Everyone!

With another Nigerian Attack, Crude Oil holds on to Its Bullish Sentiment from Asian-Pacific Bourse Strength, as we all underlying Euro Strength and Gold Sentiment as well. The EU Futures a bidding up as we head into The Open… with the EUR/USD now finding new Support at the 1.4000 handle in Confluence with the 23.6% Fib Variant April Upleg.

Here are The Captures with Commentary above, so give them a Click as always.

Post-Time is 6:40 GMT.

Price reaches the Dynamic Support “Transitive Rollover” from the new 1.4000 Handle-Support on The Fiber, as another “Re-Test” and Breach of the Area will see Appreciation towards the 1.4130’s Daily Static Resistance in the Near-Term.

A Downside-Clip sees rather “shallow” Correction in the Immediate-Term to the Magenta-Dynamic Support Level at the 1.3980’s 5-Hour Consolidation Area.

Crude Clips our Hourly Ascending Triangle Formation, where Contact with the 72.70’s Daily Static Resistance is not out of the question here in the Near-Term.

Also clipping the “loose” Ascending Triangle Formation here, Gold Price looks towards the $960’s Static Resistance Area in the near-Term if Appreciation continues with correlating Dollar IntraDay Weakness.

Immediate-Term Detail can be seen with the just-published  “Currency Majors Technical Perspective” Report, and I will have several more Updates for you as we move throughout our Final Trading Day of the Week!

Please Join Me Again Soon!

Greetings, Everyone, and Welcome to Friday!

While The Nikkei and other Asian-Pacific Bourses move into Positive Territory on the back of the U.S. Equity Close, we are still working with Ranges and Continuation as a whole… as evident by the various Technical Patterns that we see around The Markets with Flag, Triangles, Wedges, and the like.

While we have had plenty of Volatility and IntraDay Opportunity as we have discussed… we still look out and consider the Larger Ranges we are in… also a Topic we have visited many times here on The Blog!

We have a look at The EUR/GBP in this Case for a fine Illustration of this type of Behavior… 

Give The Captures a Click with Commentary above, and Post-Time is 1:15 GMT.

The Euro Pound is historically our “Consolidation Ranging King” in this case… except for the last couple of years… so we have a look at The Unit on The Daily View, as it works through an Hourly Symmetrical Triangle within a clear Macro-Downtrend Channel.

 The Hourly Views sees the Symmetrical Triangle clearly Intact… as Price looking to be “In Concert” with the overall Downtrend from March is Highly-Probable in this case.

A Break to at least the 61.8% Weekly Fib Variant of the October ‘08 Weekly Uptrend @ the .8500 Handle in the Immediate-Term. Continuation will see the .8400 Area of “Basing” Support in the Near-Term.

Please join me, as always, for the final “Currency Majors Technical Perspective” Report of the Week at 6:30 GMT as we move into The European Session.

Of course, many Blog Updates to follow as well… as we see where our last Day of Trading takes us!

Please Join Me!

Greetings again at The NYSE Close, Everyone!

We saw The Equities and Bonds pick up steam for a Rally, as Treasury Auctions bode well for another Bullish Day overall.

In the same Fashion that we look out in the Macro-Views with Currencies and see large Bull and Bear Flags… we can also see the same on The Indices as well.

The “Bear market Rallies” still appear Valid on the Longer-Views… as The S&P 500 looks rather “Heavy” and we may see perhaps the 880’s/870’s in the Near-Term.

This will prove to be Dollar Positive, as The Dollar Index works a Tight Range of 79 to 82 or so… as we contemplate Bullish Weakness… or simply are cognizant of the Fact that at these Levels… Bullish Builds may come back in to resume Trends and further weaken The Dollar and The Yen.

As always… We have Two Scenarios here to be Mindful of!…

The Aussie provide a fine Illustration of a Unit that behaved “In Concert” with prevailing Trends of late on the IntraDay View.

Give the Capture a Click for the “slight Bullish” Behavior… while still being “caught” in a significant 160-Pip Range of accumulating Consolidation.

The Dynamic Trendlines provide Support as Price moves above the .8000 Handle again… and looks to Maintain the Area as a New “Transitive Rollover” Area.

The Asian-Pacific Bourses picking up on The Equity and Index Work of New York may use the opportunity to  push The Unit lower, put Strength back into The Dollarm, and see the50% Fib Variant Confluence here with the Dynamic .7930’s Support.

As always…please join me again as we move into tomorrow in a few hours for Friday’s Blog!

See You Then!

Greetings once again, Everyone!

We check in with Crude Oil and The Loonie, as their “Inverse” Correlation is “Unwound” as we move ahead.

Here are The Captures for Levels of Reference, so give them a Click… Post-Time is 16:25 GMT.

Crude looks to Clip the $70.30’s Dynamic Resistance Area, as Price “anchors” along the Bullish Trendline as It works through an Ascending Triangle Formation.

A Clip brings the $72.00 Handle into View…while Rejection sees a Violation of The Triangle and a visit to the $66.50’s Support.

The Loonie follows a similar Ascending Triangle Formation… when an “expected’ Correlation would be Canadian Dollar Strength moving towards the 1.1400 Handle of Support by this point… relatively speaking.

Price may simply continue to remain “Unwound”, as The Lonnie Accumulates here from the 1.1520’s “Transitive Rollover” Area.

As always… please join me again in this somewhat “Tepid” Day… as we may see some Covering soon after Big Ben escapes “The Electric Chair” on The Hill… with those Genius Financial Luminaries that we call Congress.

We see solid Crude Strength… and at the same time… Solid Dollar Strength in the USD/CAD Unit.