Greetings again, Everyone at The NYSE Close!

Well… I think for the first time in the history of The Blog… I really do not have a lot to say!

OK OK… All of you can stop cheering now!… hee hee hee…   

Seriously… the continual Summer “Directionless” Sentiment out on the Larger Time-Cycles are certainly a sign of the Lower Summer Volumes… despite the increased Volatility and “Angular Noisy” Market Behavior.

Of course from The Hill with Bernanke, all The “Fed-Speak” was certainly out on the table for all of us to hear… as Economic Indicators and Data Point Releases get “Lost in Translation” for the Layman listener or viewer on T.V.

Housing and Consumer Sentiment are the “Name of The Game” here, as always, in any type of Economic stabilization and Recovery… so on it goes!

As we move into The Asian-Pacific Sectors, let’s take a look at The USD/JPY Unit as The Nikkei, The Aussie Markets, The Kospi, Hang Seng, etc… get moving along with their Morning.

The Unit could be the Classic Symbol of a Directionless Market!

Post-Time is 23:00 GMT.

On the Daily View, we are locked in a tight Range of about 91.70’s Static Support to the Transitive Rollover Area of Resistance at the 94.80’s. Our Long-Term Downtrend Channel from April is still very valid in “Anchoring” Price and current Momentum is leaning to more Depreciation of the Unit with Yen Strength.

The Hourly provides a little more Clarity as a Horizontal Range is in place. Price looks to Breach the Downside Dynamic Support Line first with a move towards the 93.20’s Support Area in the Immediate-Term… as Risk Aversion gradually comes back to The Markets.

We will see how Price progresses, so please join me for the “Big Blog” Post for Thursday in a few hours!

Greetings once again, Everyone!

We move to The NYSE Open, where Positive Sentiment begins the Day with The Dow and S&P both in Positive Territory. Equities and Indices have been largely Well-Bid throughout the Global Exchanges overnight and into today’s Session Openings.

Gold and Crude Oil are also a Major Component here as The Dollar and Yen retreat into the Shadows concerning most Units “Across The Board”.

Despite lackluster Earnings overall during “Earnings Season”, Goldman Sachs keeps the optimism alive, as well as Alcoa from last week, to give the Equities and Indices some Impetus to see Corrective Behavior that has and will “Carry Over” into The Currency Markets.

The Producer Price Index and Retail Sales come in “Better-Than-Expected” overall, but the “Weight” of Core Retail Sales will always be the “Factor” here, and without Autos and Energy, we really have nothing to “Hang our Hat On” here… hence the “Noisy Whipsaw” Price Action we have seen within the last Hour across The Markets.

(Please feel free to look at my latest Installments for the “Fundamental Forex Foundations” Section of the FXstreet Education Area… PPI, Retail Sales, Business Inventories, and CPI set for Release tomorrow.)

We check in with USD/JPY since these two will often run in Correlation in both Risk Averse and Risk Appetite Climates, except when they are battling with each other!

The Dollar Yen is always a unique Unit, since we can really observe the “Push and Pull” of Price Action since both Units have such similar Characteristics and Qualities. 

Here are The Daily and Hourly Views, so give them a Click for various Levels, and Post-Time is 13:50 GMT.

The Daily keep Price “anchored” with its Long-Term Downtrend Channel, and sees the Lower Channel Line providing clear Dynamic Support moving forward. The Key Area in my personal View, will be if Price can reach the Weekly Fib Variant Confluence of the 94.25/31 Area of Dynamic Resistance, and Beach through to the 97.00 Handle in the Mid-Term.

The Hourly shows our Daily Mid-Term 97.00 Thoughts to be rather “Distant”, as Probabilities rest with Price looking for a “Re-Test” of the 91.75 Channel and Support Lows in this case. If the Area is reached, Price may simply work in this “Tight range” of 91.75 to the 93.50’s Static Resistance Area.

As always, more IntraDay Updates for you as we move along, as we need to check in with The Queen and other Units as we move along.

Please join me soon, and I look forward to it!

Greetings again, Everyone!

We close The NYSE in Positive Territory with The Dow and The S&P… as The Nikkei Futures look Well-Bid to open and continue on with the Global Equity Momentum.

Crude levels out at the massive $60.00 Handle, while Gold pulls back off of $921.65 Dynamic Resistance.

The Euro looks to take our earlier Flag Opportunity and finally Clip the 1.4000 Handle to form that “Transitive Rollover” area we were attempting to reach earlier in The Day.

We can now use a L.R. Channel as we work the Counter-Trend here on the Hourly Time -Cycle.

Price Appreciation will continue with Bullish Sentiment on the whole, as long as The Equities Correlation remains Intact.

The Next Focus is on the 1.4040’s Resistance, followed by 1.4072 where if Met and Held… an Hourly Double-Top will be In Place if Price is not breached through to the 1.4100 Handle.

Here is The Hourly Capture so give it a Click for Levels, as always.

Post-Time is 23:40 GMT.

Please join me again for more Updates as we move along, and check in on how The Currency Units are progressing in The Asian-Pacific Sectors!

UPDATE @ 1:30 GMT!

The Euro begins to retrace a bit , but still holds the integrity of The Channel. The 1.3940’s would be the next Area of Focus of Price Behavior continues.

We will check in with another Blog Update after The “Currency Majors Technical Perspective” Report at 6:30 GMT.

The two Major additions to The “Fundamental Forex Foundations” Section are now published… just in time for CPI and PPI in the U.S!… as well as the U.K., since many of these same Principles will apply to other Producer and Consumers in other Economies.

Producer Price Index

Consumer Price Index  (for Wednesday)

Retail Sales and Business Inventories will be published and active ASAP, so I will post those Links as well!

Greetings again, Everyone!

While we are at The NYSE Open with The Dow and S&P opening a bit “Flat” inching up at a Fractional pace… we can still look to The Indices for our Correlations over these last few days of Risk-Averse Behavior.

We may even see some of what I call “Typical Tuesday Corrections” that we have seen over the past several months…where we have significant Depreciation across many Currency Units and Commodities… ( although as we have discussed, The Major Comms are still under a great deal of Heat…)

Testing various Levels across most Markets are still “The Plays of the Day”, and our two Major Yen Crosses are no different.

( Just as an Indication of this thought… we are already down after 30 minutes of The Open… )

So we check in with EUR/JPY and GBP/JPY on The Hourly Views, as it will be interesting to see where we end up later in the Day concerning our Macro-Correlations.

Here are The Captures for a Click with Commentary above, and Post-Time is 14:00 GMT.

While very Short-Term Corrective Appreciation may be seen across most Yen Crosses, we are still in Risk-Aversion Mode, so be sure to watch those Counter-Positions that you may favor. The Yen has been a bit more “Elusive” than The Dollar in this Area.

The EUR/JPY gives us an IntraDay Wedge Pattern to work with here, capped by out Longer-Term Channel Line. The Key in my personal View, will be to see if Price can Breach the Lower Trendline and move South through the 132.40’s. If this is the Case, than it open up the Mid-131’s in The near-Term as we monitor The Indices for Correlation.

The GBP/JPY also presents a little Continuation Wedge-Like Behavior here, where the 154.40’s “Transitive Rollover” will be The “Make or Break” Scenario IntraDay for the next few hours. 

The Weekly 38.2% Fibonaci Confluence with Static Resistance will be a Key Area to Breach out of the current Depreciation., although Price is already Negating our Lower “Wedge” Trendline as the 153.00 Handle becomes attractive in The Immediate-Term.

As always, more Updates to follow as we move around in our still large Macro-Ranges for all of you Longer-Time Cycle Viewers ( like myself ), and as always, check in with the IntraDay Views for our Shorter-Term Friends!

It is once again going to be an interesting Day, so please join me 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, Everyone!

While we await U.S. Durable Goods Data Points, we check in on The USD/CHF and especially the EUR/CHF as Swiss Intervention comes in yet once again at The Massive 1.5000 Handle.

Bullish Views seen earlier in The Euro provides some “Cross-Current” Momentum to slam the Swissy Itself, as the Dollar rolls on at the 1.0650’s Area… as well as the Euro Swissy giving another Deep and Clear Opportunity at the 1.5000 Handle.

As The Central Banks, in general,  work through Transparent Intervention… it is surely an Advantage for Speculation in The Currency Markets, as It is often Publicized and not Covert… as all a Central Entity needs is to move The Exchange Rate where they want it.

Nice and Simple.

The Direct Commentary and Activity speaks for itself!

The 1.5000 Area on Euro Swiss is The Key in these Cases.

Give The Captures a Click for Various Levels of Reference, and Post-Time is 12:45 GMT.

The Swissy needs to hold the New 1.0800 Static Support Area to hold onto the Majority of The Dollar Momentum. If Price Breaches this Area, then clear Corrective Behavior is seen through to 1.0760 in the Immediate-Term.

The Euro Swiss is quite similar, as Durable Goods Orders comes in slight Positive as The Dollar Index creeps north a few Ticks… and the 1.5220’s Dynamic Resistance will either Contain Price, or form a New “Transitive Rollover” Resistance-becoming-Support Area.

Here is The Daily for a clear Illustration on the Swiss Intervention Activity… and one of the “cleanest” Range-Bound Areas I have personally seen in some time. Anchoring Price between the 1.5000 SNB Pegged Level of Support,  and the 1.522Os’s Dynamic Resistance leaves plenty of Opportunity for IntraDay Work for those of you who prefer those Working Perspectives.

As always, more Updates to come with New Homes Sales and our FOMC later today, so please join me Soon!

Greetings again, Everyone!

We enter into The European Session with EuroZone Equity Futures bidding lower on the back of slightly Negative Bourse Movement in the Asian-Pacific Sectors. From the IntraDay Views, we are seeing a bit of “Mixed Sentiment” as The Dollar and The Yen find some Disconnect with Correlations.

Both Risk-Averse Currencies see Strength in most Majors, albeit the Swissy is beginning to show early Signs of Accumulation and Neutrality. This may be signaling Behavior leading to Clear Consolidation… that will “bleed-out” into other Units moving forward.

While The Fiber and Cable show clear Downtrends, the Strength of The Yen is eclipsing The Dollar, as a Sentiment Shift develops due to eventual “Muting” Behavior ahead of The FOMC Decision tomorrow.

The Euro Pound is Illustrative of this current ”Easing Momentum” on The Hourly View, and here is The Capture with Commentary above, so give it a Click as always.

Post-Time is 7:15 GMT.

While the Hourly Uptrend Channel is clearly in View… We can observe Accumulation which will lead into Solid Consolidation if the Dynamic Magenta Range Holds between the .8480-8510 Levels.

Continuation sees the .8530’s Static Resistance Area In View with even a Reach to the .8600 Handle in the near-Term… although out on the Mid-Term Larger Views… the .8250’s still remains Deep Static Support due to the “Heavy” Euro and resilient Pound moving forward.

We will check on The Unit as we move along, and for more Immediate-Term Detail of the varying “Degrees” of Dollar and Yen Strength and the “MIxed Sentiment” we spoke of… please have a look at the  “Currency Majors Technical Perspective” Report  just published.

As always, please join me for several more Updates today, as we move closer and closer into FOMC Territory, while also being Mindful of the 14:00 GMT U.S. Existing Home Sales Data Point as well!

Greetings, Everyone and Welcome to Tuesday!

We closed the U.S. Session with no real “remarkable” Data, Behavior, or Events to speak of ( hence no U.S. Close Post from me … ), and we are simply still working with Risk Aversion on the back of Strengthening Dollar and Yen Tendencies at this point.

The Negativity “bleeding out” from Wall Street is seeing Depreciation in the Yen Crosses, especially, as of this Writing. While the IntraDay Behavior may look “extreme”, we are still adhering to Support and Resistance Levels as most Units see Downtrend Channel Behavior in the Immediate-Term.

We check in with the GBP/JPY again, as well as bring in The USD/CHF to check on the “Dollar Strength” of this Risk-Averse Equation.

Here are the Hourly Views, so give them a Click for Various Levels  with Commentary above, and Post-Time is 1:30 GMT.

The Pound Yen sees Continuation of the Right-Shoulder Depreciation we spoke of in the 15:00 GMT Post yesterday, as the Daily Head and Shoulders Formation continues.

Price is resting on the 38.2% Fib Variant with Dynamic Support at the 155.80’s Area.  A Correction “north”should see the 157.30’s Resistance and if Rejected… Price sees a Bear Flag Hourly Formation from the 159.60’s Highs.

If Violated, the “loose” Hourly Triple-Bottom Formation may see Price climbing back to those said Highs in the Near-Term.

Flag Continuation sees the 155/154.80’s Clipped to the Downside as Bearish Sentiment continues.

The Swissy sees Bullish Sentiment on the Hourly View in a Clear Uptrend Channel, albeit somewhat “Mixed” with the Ranging Consolidation from the Hourly Double-Bottom Formation.

Fib Variant Confluence Areas are providing Dynamic Support and Resistance, while Bullish Sentiment will remain out of the 1.0760’s-1.0890’s Range if the 1.0920’s Resistance is Seen and Held in the Near-Term.

Please come by for a visit for the 6:30/7:00 GMT “Currency Majors Technical Perspective” Report, for some Immediate-Term Techs on the Four Majors. A Blog Update will follow, as usual, so I hope Everyone will come by as we move into The Day!

Greetings again, Everyone!

We will stay with The Fiber for another Post, as a Key Market Driver for the Unit is due soon with The German IFO Business Climate Sentiment Release @ 8:00 GMT.

The Data acts largely as a Leading Indicator due to Its Sample Size and Correlations with  general EU Conditions.

Current Price Behavior in The Fiber sees the 1.3850’s Static Support holding the Pair, as Price breached the 1.3900 Area. Any Continuation to the Downside with a Breach of the Larger Uptrend Line that we had mentioned in our Previous Post will be decidedly Bearish.

Price will then have in Its Sight the 38.2%  Corrective Area of the Daily April 22nd Upleg to act as Dynamic Support in the near-Term.

Here is the Hourly View, so give the Capture a Click for Levels of Reference.

Post-Time is 7:00 GMT.

The recently-published “Currency Majors Technical Perspective” Report  is available for additional Detail on an Immediate-Term View with The Euro, as well as the other Majors.

As we see these little “Breaks” through The Majors, we will continue to monitor the Depth of their reach, as we move along throughout the Day with more Updates, as always!

I hope Everyone will join me Soon!

Greetings, Everyone and Welcome to Friday!

We have had an Event-Filled and Volatile Week of Work this Week… especially if you Working Style is on the IntraDay Levels!

While in the very-near Immediate-Term, we should see, and are seeing,  some Dollar and Yen Strength as Prices move to break various minor Levels of Consolidation and Mixed Sentiment… we can step out a little bit and see Corrective Retracements now setting up for potential Bullish Builds to come back into The Markets over the next few Sessions.

The Yen Itself looks to a little more Weakness of Late than Its “Partner” in Risk-Aversion and Appetite…The Dollar.

We still look to these Two Currencies on their own Individual Merit as a “Bellwether” for out Strength Vs. Weakness Ideas, and the varying “Degrees” that we may see…

We check in with one Yen Cross as a Measurement of this Idea, so here we have the AUD/JPY on the Daily, Weekly, and Hourly Views.

This Cross is rather Illustrative of current Yen Weakness with the heavy U.S. Treasury Bonds selling off yesterday, and the subsequent weakening of The Dollar off of Support Areas, with The Yen weakening as “Collateral Damage” in this case.

Give The Captures a Click for Levels preceded by Commentary, as always… and Post-Time is 8:15 GMT.

The Aussie Yen still finds Buoyancy with Its Long-Term Uptrend Channel from January on the Daily View, as Price is “Anchored” quite nicely through the entire Macro-Upleg.

( I must say this Unit has been a Position Trader’s Dream… as has The Aussie Dollar… for those of you out there who subscribe to these Longer-Term Views… 

On the Larger Weekly level… we can say  this entire Upleg is simply a “Wide” Flag coming out of a Bear Flag Formation, as the “Textbook Case” is evident with a Hold at Major 50% Fib Variant/Static Resistance that we currently see.

The Hourly View sees the IntraDay Range rather clearly… as Price looks to Clip the 78.20’s Dynamic Resistance Level to see the 79.50’s Static Resistance, and 50% Weekly Downleg Fib Variant Areas.

Please have a look at The “Currency Majors Technical Perspective” Report  recently published for some Immediate-Term Views on where all of the still-continuing Macro-Consolidation and Ranges may be taking us leading into The Weekend!

Of course… I will have several more Updates for You as we move along in the Trading Day, so please come back for a Visit!