Greetings Everyone, and Welcome to Monday!

We begin the Week on a rather Benign Note, as Market Consolidation and Range-Bound Considerations still prevail.

While most Majors begin the Week inside of slightly Bullish IntraDay Channel and Price Behavior, we are already seeing Rejection of many Static and Dynamic Resistance Levels as we Work in the Asian-Pacific Sectors.

Here are the Daily and Hourly Captures of the Unit with Commentary above, so give it a Click, as always.

Post-Time is 1:00 GMT.

As we spoke of briefly in Saturday’s Post… The Units is dealing with some “Conflicting” Technical Factors with the failed Head and Shoulders Daily Formation, along with the Daily Bull Flag Formation.

The Behavior is already seeing Downside-Risk Pressure back down through 1.8940’s Support.

The Hourly is seeing this Price Action with Clarity, as we move through the Lower S.D. Channel Line to the Dynamic 1.3900/10 Support Areas. Working from the Hourly Double-Top Momentum, a Breach through this Level sees the larger Uptrend Line/Static Support Confluence at the 1.3850’s In Sight in the near-Term.

The “Conflict” here is we still need to “Arrive” at the 50% Fib Variant Area @ 1.3600/10 for Technical Flag “Completion”… and on the other Hand… we may still remain in Accumulation unless the 1.3870’s is Breached or the 1.4000 Handle is Violated for any Significant Market Direction in the Near-Term.

As always, please join me around the 6:30/7:00 GMT Hour for the Currency Majors Technical Perspective” Report, as we move in for more Immediate-Term Detail on The Fiber as well as the other Three Majors.

Enjoy the rest of your Sunday, and I will see Everyone in a few Hours!

Greetings, Everyone and a Fine Saturday to You!

Writing-Time is about 9 a.m… so 16:00 GMT.

We end the Trading Week still “Anchored” everywhere by Horizontal Ranges in most Units… Currency and Otherwise… as The Dollar remains weak against Its “Risk Aversion/Appetite Brother,”, The Yen… while remaining largely Rangebound from the Macro-View in most Pairs.

We have large Triangle/Flag/Pennant-Type Formations of Continuation, as Price sees more Deep Breaks on the Horizon soon.

Despite the Speed and “Spotlight” Momentum of The Queen lately… in my Personal View… It is still  the Commodity Currencies that see the strongest “Weight” of The Pendulum Swing against The Dollar.

On the “Other Side of the Fence”… The Yen and even the Euro still have Battles of Strength vs. Weakness to deal with in more of an “evenly matched” Scenario with The Dollar.

The Yen Crosses move along nicely, as the “Degree of Disconnect” in Strength and Weakness is usually distinct and wide… so when they Rally…t hey move with Significance. When they Fall… they Depreciate with Significance as well, hence becoming Solid Units with Volume and Liquidity.

In my View, the Euro is a fine Illustration of the “Financial Gridlock and Pressure” we are still dealing with… as the “Weight” from the Macro-Level is still haunting The Pair.

From the Daily View, we do have a Clear Bull Flag Formation in progress, which signifies Continuation, but also a Break to the Upside with “Full Completion”, in this Case, around the 1.5100 Handle…which is certainly not In Favor at this time.

Downside-Risk sees possible Negative EuroZone Data Points taking Price to the 38.2% Fib Variant of the April Upleg Confluence with Dynamic Support.

The some what “Indecisiveness” of The Euro is indicative of overall Market Sentiment, and I really do not see The FOMC next Week changing any real Views of The Dollar as well in terms of Activity…. so we continue Onward with what The markets define for us to Work with, as always!

Have a fine Day, Everyone and please join me tomorrow for another Sunday Post!

Greetings again, Everyone!

We are about One Hour into the NYSE Open, as Positive Retail Sales and falling Jobless Claims bode well for the Equities and Indices in the Near-Term.

The Dollar Itself remains generally “Mixed” and a bit “Independent” in Movement…as we see Hourly IntraDay Weakness in most Majors but Strength against It “Comrade in Low-Yielding Arms”… The Yen.

Macros here include the general “Fear and Uncertainty” of China’s Perspectives concerning the U.S. Reserves and Treasury Yields… as well as some Rhetoric “In The Air” with The ECB and other EU Entities with a Concern for continued Strength in The Euro moving forward.

While this may be early Signs of “Jawboning”… Dollar Bulls have another Component in their Arsenal here to continue Accumulation and push for Reversals with Dollar and yen Strength as we continue on.

Please be Mindful here… as the Market “Noise” and Volatility may get heavy for those of You who Work on an IntraDay Basis.

Let’s have a look at The Fiber and The Aussie to illustrate how The Dollar is having varying “Degrees” of Strength with Its current ”Mixed Profile”…

Here are the Hourly Views, so give them a Click for Various Levels of Reference and Commentary above.

Post-Time is 14:30 GMT.

The Fiber, while showing current Dollar Weakness, is still locked in a Larger Range now between the Dynamic Support and Resistance Fib Variant Areas of 1.3916 and 1.4122 in the Immediate-Term. 

Our “Transitive Rollover” of Resistance-Becoming-Support is still very Valid and has been for several Days now… this is Indicative of The overall Range-Bound Tendencies we are in.

The Aussie Hold an almost Opposing View…a the “Degree” of Dollar Weakness is full of much more Momentum and a more “Obstacle-Filled” Environment as The Aussie has The Commodity Metals Complex behind it, China’s Trade Interests, and Positive Carry to keep The Currency Buoyant in the Near to Mid-Term.

Please join me again as we move forward throughout the Day… as more Updates are surely on the way for You!

Greetings Again, Everyone!

We see plenty of Weight providing Pressure to the Euro as we Bounce off of Daily Dynamic Support @ the 1.3900 Handle. We remain caught in the IntraDay Range, as German Borrowing Issues weigh on the Unit, as well as subtle Corrections in Crude Oil and Consolidation in Gold.

While the Macro-Views of Commodities are surely due for Bullish Appreciation in the Longer-Term… in the Immediate-Term, we are still working within IntraDay Accumulation Ranges.

The Dollar Strength is Isolated in this case, as It dominates the Support-and-Resistance Range of the Euro… but is Eclipsed by a Breath of Fresh Air with The Queen in appreciating to the 1.600 Handle and trying to maintain “The Air Up There”.

As GM seemingly becomes and Afterthought as each Moment goes by, and as more Housing Data is due for the U.S., we certainly have Catalysts for The Dollar to play Its “Rotation Game” back and forth a bit more from Risk Aversion to Appetite… as we have spoken of over the last few Blog Updates.

Let’s check in with The Fiber and The Queen on the Hourly Views… as we can still see the Clear Delineation of Support-and-Resistance Ranges throughout.

Give the Captures a Click for Commentary, and Post-Time is 13:20 GMT… about 10 Minutes Ahead of the NYSE Open, where Equity Futures are Bidding just a bit Higher as of now…

Of course… I will be back with you soon, as the Oil Inventories emerge, as well as the Existing Home Sales looking to have an Impact on The Dollar for our Concerns here… So please feel free to stop by, as always!

Greetings once again, Sport Fans!

Thanks for joining us, as we catch up with the heated Battle for the English Channel!… the ongoing Saga of the Euro vs. the Pound!

The Queen is looking exhausted in the latest Round of Action… as Six Weeks of Weakness have definitely taken their Toll !

While She rallies against the Dollar in the Swim Meets of late, She simply cannot get over the top with her Arch-Nemesis… The Euro !

Price still remains Active and Anchored by the Daily L.R. Channel… as the Euro looks to keep forging ahead with the Finish Line of .8720 Dynamic Support clearly in Sight.

The Queen may have built up some Semblance of Energy that She may tap into, though… as the .8900 Handle of Resistance is in Sight for Her Finish Line as well!

Here is the Daily and Hourly Views for an Up-Close View of the Action!… so give the Captures a Click, and Post-Time for today’s Match is 16:00 GMT.

Always Fun and Enjoyable for me to do this Pair for you with the Animated “Storyline” !…         ;-)

Of course… We will check in with all the Market Action in a few hours towards the NYSE Close or immediately after!

It will be interesting to see of the current Risk Appetite Climate continues into the Asian-Pacific Sectors as we move forward!

 Hello Everyone, and Welcome to Friday!

With the Weekend approaching, and the Weather warming up for Summer in the States… We are coming upon the “Traditional” Summer Driving Season as our Memorial Day Weekend nears.

In our current Climate of Economic Uncertainty, we naturally think of Petroleum Prices spiking as Driving Demand increases over the Summer Months.

( Here in Phoenix this is not a Concern, as we drive for 17 Feet and begin to Melt anyway… considering the “Pizza Oven” this Place is in the Summers… hee hee hee…   

With the current Rhetoric of Energy Demand and Production, we can observe our “Normal” Inverse Correlation of Crude Oil and the Dollar Canadian Unit… despite the Unwinding of Correlative behavior concerning the “Low Yielding Safe-Haven Behavior” of the Dollar in recent months.

Here are both Daily Views in the Mid-Term… and as long as OPEC keeps tightening Production… The Loonie will continue to Strengthen and follow Its Daily Bear Flag Formation, and Crude Oil will continue Its Appreciation towards the $75 Area.

Give the Captures a Click for Commentary, and Post-Time is 1:15 GMT.

With the “Distant” Affect the Asian-Pacific Sectors tend to have on either of these Units… we will need to drill down on the Hourly Views around the 8:00 GMT Update right after I submit the “Currency Majors Technical Perspective” Report at 7:00 GMT.

Please join me and i hope to see you in a few Hours!

Welcome to Thursday, Everyone!

With the Equities Sectors and the Dow and S&P Indices taking hold of Correlating Relations again, we have seen Risk-Averse Behavior rather consistently this week… despite Corrective Price Swings in most Major Units and their Crosses.

The Yen was provided propelled Momentum from recently poor Exports beginning to see increased Outflow Activity… meaning some Recessionary aspects in Japan may be easing in the Near-Term.

We know where the Beloved Queen was heading from our last Update yesterday… and it would not surprise me if her Majesty has “Special Plans” for Alistair Darling… considering the massive Borrowing of 269 Billion Pounds and Tax Increases for the U.K. Citizenry.

( Hee Hee… just being sarcastic… although my good Premium Friend and Trader, “Ray”, may devise a Plan anyway…    

In all seriousness… we can use a few of our “Yen Travelers”… the Yen Crosses… to observe some of this Price Action as these three Units are finding interesting “potential” Set-Ups for  Immediate-Term Views.

Price Behavior is deeply similar on all three Daily Views of the EUR/JPY, AUD/JPY, and the NZD/JPY… so give the Captures a Click for Commentary.

Post-Time is early evening for me at 2: 15 GMT.

As always… I will be back with you for an Update as we move into the Asian/London Overlap to see if we are any closer to these Opportunities coming to Fruition… so let’s meet again after the “Currency Majors Technical Perspective” Report around 7:00 GMT to see where we are!

( P.S. - The Update Time is 8:05 GMT, and we have no significant development with our Triangle Formations on these Units… so we will check in later in the Session as European Volume comes into View… )

Greetings, Everyone and a Good Friday to All!

Re-Positioning has already begun from Thursday with High Volatility and Low Volume already being seen with the Breaks and Violations of Key Levels from an IntraDay Perspective.

Be mindful of the fact that the “Sentiment” behind this activity may be a bit reclusive… or simply may be Holiday Profit-Taking.

Remember… coloring the Easter Eggs for your children is not cheap… so the Big Boys needed to take profits off the table early for their Easter Egg Hunts in the Hamptons this weekend!… hee hee hee     

I have somethng a bit different for you this evening since we have such “Quiet” Market Action as the Market Volume has already dropped off significantly with the Easter Holiday Weekend.

Here are twoLinks to Reports I completed this afternoon/evening for FXstreet, as both cover Technical and Fundamental Market Aspects for a somewhat “complete” View of our current climate this evening ( my time here in Phoenix…).

Writing-Time is 1:30 GMT.

Here is the Homepage Link to the Market Summary…

http://www.fxstreet.com/news/forex-news/article.aspx?StoryId=d4a5862a-6e4b-4814-afbf-ab10d2b36d18

… and here is the 1:00 GMT Currency Majors Technical Perspective Report.

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2009-04-10.html

I will be back with you at around 7:00 GMT for an Update of this Report, although…we may have an Abbreviation with such Quiet Market Behavior!

Greetings Again, and as promised… a brief Update after these two Central Bank Decisions!

We are seeing similar Sentiment here with both Units on the Hourly Views… as the “loose Potential” of IntraDay Flag Formations is upon us.

The Bank of Japan held Rates as expected, and the Reserve Bank of Australia Cut by only .25% bps which should have been a bit “surprising” to the Markets considering “Rhetoric” of a .50 bps Cut….but alas… it was largely “Priced-In” and ignored nonetheless.

Here are the Hourlies for some reference, so give them a Click, and Post-Time is 8:00 GMT.

We will float around at our next Update and check in with some other Units for a “Fresh Perspective”, so I will see you soon!

Welcome to Thursday!

With such deep volatility and activity all week… we check in once again with the Euro and the Swissy!

The Risk Appetite Climate has “re-coupled” them on an IntraDay basis, and we see their “Inverse” Correlation largely back intact….. and I emphasize “largely”… as it is pretty “noisy” in terms of Directionality.

In the Macro-View… we do have the Swiss National Bank’s Interest Rate Decision tomorrow… that may certainly bring some volatility to the Unit.

In about 7 hours time… the Consensus is for a .25 bps Cut from .50% to .25%, and this is, indeed… largely “Priced-In” to the Markets.

In my personal view … even a hold or more significant Cut above Consensus will not be a catastrophic Market Mover.

But why, CVJ?… Why would it not have an Impact?… What… are you a Market God now?… A Genius?… hee hee hee…” , the CVJ Fan Club Guys say with deep sarcasm.

No, Boys… I certainly am not. It is simply that the SNB “accidentally” released the Decision a day early !!!” , I say with the joy of putting the Boys in their place.    

That’s right. Early.

But… it is not “Officially” confirmed, and will not be until the SNB confirms it a few hours from now.

In any event… the .25% bps Cut is “in the cards”, as we say.

Let’s check the Captures, and here are the Hourlies of both with Commentary so give them a Click.

Post-Time tonight is 2:30 GMT.

( We will continue on with our Units we have been looking at all week, as I felt one large Post would simply be too cumbersome…. so my apologies there… )