Greetings again, Everyone!

We are about 75 Minutes into The NYSE Open where we see The Dow and S&P 500 holding the slightest of Gains, coming off of some Accumulation that we are also seeing in many of The Major Markets and Currency Units as well.

Counter-Trend Views always enjoy this type of Price Action, where even “early” in the European Session we saw “modest Gains” in The Fiber, The Queen, and some Yen Crosses as “Bounces” came and went after my Writing of the 6:30 GMT “Currency Majors” Tech Report.

The Pacific Dollars and Crosses certainly have not been spared here as well… despite the “relative health” of The RBA and RBNZ as we check in on The Aussie and Aussie Yen… since we have used them as fine Examples of Position Trading Perspectives for months now.

Also… in a geographically related Area,  I was a bit surprised as my Good Friends in China decide to not pick up on the continual “Back and Forth” Rhetoric of the World Reserve Currency Issue. With the Chinese President departing early to deal with the very sensitive Ethnic Issues going on now… we certainly know The Idea of The RMB as The World’s Reserve Currency is rather far from President Jintao’s Mind.

( In addition… in my personal View…there are so many underlying Issues with varying Levels of The Chinese Economy and Political Hierarchy System… that I do not know where to begin… )

A Story for Another Blog Entry!

We take a look now at The Aussie and Aussie Yen on The Dailies where we can see Accumulating Activity… but it is really The Hourly Views where we see The Risk-Averse Damage done.

Give The Captures a Click as always for Various Levels with Commentary above, and Post-Time is 14:45 GMT.

The AUD/USD Daily still holds our Static and Dynamic Magenta Areas of Support and Resistance, although we can see the 200-220 Pip Depreciation over the last two Day here…

On the Hourly, a nice “Wedge” or even a “Descending Triangle” Formation is seeing Price attempt to Clip “north”… as we have mentioned earlier concerning The Majors where this “Noise” is evident in light of The G-8 and attempts at maintaining various Support Areas in most Units so far today.

The Aussie Yen Daily sees similar Price Action, with our Depreciating Correction clearly in View… and finding Superb Confluence with the July 2008 Monthly Downleg Fib Variant @ the 73.86 38.2% Area.

 My “Transitive Rollover” Areas are clear here, as they usually are in the Longer-Term Trending Environments… so it will not surprise me if we see Bullish Builds coming in here off of these Corrections.

In the interest of Full Disclosure here, most of you know these Two Units have been active Position Trades for me for Months now… but as always… I do not want to “bore you to tears” without focusing on The IntraDay Work that many of you enjoy complementing your own Trading Styles… )

Of course, we will check in with The EIA and API Crude Oil Inventories as they emerge, as well as checking on Gold… which we have not looked at in several Sessions!

I will have more Updates to come as always, so please join me!

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 again, Everyone!

We are about 90 Minutes into The NYSE Open, with Equities and The indices largely  “Flat” in early Trading as the Futures Block-Orders still come into The Markets.

Gold and Crude Oil see Depreciation overnight and well as The Dollar and Yen seeing general Strength… but eclipsed for a moment on The Vapid CPI Data Points earlier, as well as the more Recent Current Account Deficit…

( Increasing Deficit?… Really?… What a Shock!…)

OK… pardon my “CVJ Guys” Humor… and for those of you wondering… I sent them away for some Psychological Conditioning in the Deserts here in Arizona…    

We check in with Gold and Crude on the IntraDay Levels, as EIA Crude Inventories Data sees Crude down 3.9M Barrels which is Offset by Gasoline Builds which showed a  massive increase of 3.4M Barrels.

Give the Captures a Click, and Post-Time is 15:10 GMT.

Crude sells off on the Initial Data, as Bearish Momentum already in existence fuels the Behavior.

A Clip of the $70’s Area on the Correction may induce additional selling Pressure… as a Bounce from Dynamic Support around $69.00 is Holding for now.

Gold also looks to Its own Dynamic Support at $927.98/928.00 in The Immediate-Term, as we have even more IntraDay Consolidation here.

Price needs to Clip the $919.00 Area in The Near-Term to really Negate the Consolidation for a solid Bearish View… and the “Ambiguity” and “Noise” of The Dollar right now is not assisting Matters in this Case.

 The Fiber still retains an Anchor with our Uptrending Hourly Channel, as Price is held by the 1.3870’s Resistance.

Depreciation will see a fall through 1.3850’s Near-Term Support, and onto our Daily Head and Shoulders Neckline Static Support at the 1.3800 Handle.

Bullish Sentiment will find Fuel if Price Clips the 1.3896 Dynamic Resistance, as well as the 1.3930’s Static Resistance for Trend Resumption in the Near-Term.

As always, I will have more Updates for you as we move on with our Volatile Day, and an interesting Note here…

We have a spmewhat rare “Quadruple Witching Week” !…  Equity Options, Index Options, Futures, and Futures Options all facing Expiry as the Second Quarter comes to a Close. Institutional Motives will look to Settle their Books and do plenty of Re-Positioning… so this is certainly something to be Mindful of as we move along!

Please join me for another Visit soon!

Greetings, Everyone and Welcome to Wednesday!

Our “Traditional” Commodity Day here on The Blog… with EIA Crude Inventories… always gives us a nice chance to look outside of our Currency World and into a little InterMarket Analysis.

( Those of you who have been with me for a while know how essential  I think InterMarket Analysis and Concepts are…     

The Equities losing a bit of Steam on Tuesday is bleeding out” as of Writing-Time into Asia as we speak… and The Correlations with Gold and Crude are largely “In Line”, and following along.

Despite the “Buoyancy” we saw in Gold Tuesday… We see potential for further Weakness moving forward, as Gold still has not been able to maintain Its $990 Highs from a couple weeks back.

We are still largely Bullish in The Mid-Term and Price Action supports this View with the Macro-Uptrend… current Price Behavior looks toward the $900 Handle with Probability.

The $940.50’s Area is acting as larger Static Resistance in the Immediate-Term…and a Clean Clip of the $970’s Area is needed for overall Trend Resumption in my personal View.

Here is the Daily, so give it a Click for various Levels… and Post-Time is early evening for me at 1:00 GMT.

Crude Oil is seeing more “General” Strength than Gold is…as Gold is co tied yup in “Inflationary Sentiment Concerns”.

Crude has some Buoyancy from The Euro as well… as relatively decent Economic Data Points over the last month, in general, have provided increased Confidence in EuroZone Consumption… as well as in The U.S., where the Summer Driving Season is upon us fueled by Driving as a “cheaper” form of Transportation for Holidays in this Economic Climate.

Crude is in Consolidation on the IntraDay Perspective, but is clearly “Anchored” in Its Uptrend S.D. Channel out on the Daily Time-Cycle. While Crude is becoming Overbought with various Oscillators such as RSI… any Corrections seen will be most likely to bring in Bullish Builds as Price moves ever-closer to the “Coveted” $80 Level for OPEC.

We get back to Currencies with The Majors at 6:30/7:0 GMT for the “Currency Majors Technical Perspective” Report, so please join me then for some Immediate-Term Details on “The Four Siblings”!

As always… an Update to follow, so please come by for a visit as we prepare for the London/EuroZone Activity!

Greetings Again, Everyone!

The Risk-Averse Dollar and Yen are now moving into Accumulation to Consolidation from the IntraDay Perspective, as Exchange Rates begin to slow and ease.

We move straight into The EUR/JPY from The Yen Perspective… and The AUD/USD from The Dollar Perspective.

Give the Hourly Views a Click as always… with Commentary above, and Post-Time is 7:00 GMT.

The Euro Yen finds a Bounce into Consolidation at the 132.60’s Static Support Area, as Price looks to the Immediate-Term Resistance at the 134.00 Handle. A Breach of the Support Level sees the 131.70’s and 131.40’s Support Areas in the Near-Term… while and Upside Beach sees the 135.00 Handle to Hold the Correction.

The Aussie sees Consolidation generally caught between the .7900 Handle and the .8000 Handle with even a “tighter” 50-Pip Range to .7950 as well. Price needs to clear the .8090 Resistance Area to regain Bullish Sentiment in the Near-Term… other Bearish Views look to Depreciate Price through the .7820’s and onto the .7750’s in the Near-Term.

For further Detail on how The Majors are working in these Consolidative Zones, here is the just-published “Currency Majors Technical Perspective” Report, and as always… I will certainly have more Updates as we move along!

Greetings again, Everyone!

We do not have too much change in Market Sentiment and Activity today as the Dollar Index looks toward the 82.50’s Level… and The Queen and The Fiber look towards New IntraDay Dynamic Support Levels as well…

Let’s get right to it, so here are The Hourlies of both Units, so give The Captures a Click as we have Commentary above…

Post-Time is 16:20 GMT.

The Queen looks towards the 1.6240’s Support Level and may simply Breach the Area for a View of the 1.6210’s/1.6200 Handle.

Further Continuation can see the 1.600’s Area in the Mid-Term as Corrective Sentiment continues.

Upside Resistance sees the 1.6670’s towards 1.6800 if we see some Bullish Builds come in at the Support Areas.

The Fiber still deals with Its underlying “Weight”, as Price now sees a slight Bounce from the 1.3770’s Support/Confluence Area with the 61.8% Daily March Upleg Fib Variant.

Downside-Risk sees the 1.3650’s 38.2% Fib variant as Dynamic “Transitive Rollover” Support in the Near-Term.

Of course… more Updates to follow, so I hope to see all of You soon!

Greetings again, Everyone!

Our earlier Thoughts on our last Post come to fruition as The Asian Bourses come off while The Dollar and Yen continue their Macro-Corrections… even though most Units are still considered to be in rather large Range-Bound Areas.

The GBP/JPY continues Its Correction, as the Hourly reveals Key Levels to Clip for Bullish Builds to enter back into the overall Trending Environment.

As The Yen gains Correctional Strength, Contact with the Ellipsed Area at the 158.40’s Dynamic Support, along with the Key Level of the Weekly 50% Fib Variant of the October Downleg, will be a Crucial Area for Bulls to be Mindful of for Attractive Rates.

Here is the Hourly Capture so give it a Click, and Post-Time is 7:10 GMT.

Please have a look at the just-published “Currency Majors Technical Perspective” Report  for some Immediate-Term Detail on The Majors, as we monitor how Deep these Corrections continue to progress.

As always, I will have plenty of Updates as we move along, so please join me throughout The Day!

Greetings once again, Everyone!

As we move throughout The U.S. Session… The Dollar and Yen are seeing consistent Volatility as they Work within their Larger Respective Ranges.

Gold and Oil can still be Valid “Indicators” of Sentiment here… as their Corrections signify Weaker Commodity Price for these Two Units today… and does NOT mean a Stronger “Fair Value” for The Dollar Itself… in my personal View.

While these Corrections may certainly continue and bode well for The Dollar Bulls… to see any real significant inherent Strength… The Dollar needs to Clip Key Levels of Resistance on Corrections with most Currency Units.

Of Course… We can view this Several Ways….

The Dollar Bulls will already be in Positions here on Counter-Trend Sentiment… or they will be waiting for Breaks of Key Levels to continue on and participate in further Counter ( Dollar and Yen) Strength.

On the “Other Side of The Fence”, Traders who favor Trend Work will look for Key Retracement and Corrective Areas to Hold for more Bullish Builds to resume The Underlying Trends and participate in this Fashion.

Now… whatever “Type” of Trader you find yourself to be… The “Universal Key” in my personal View… is to have Patience and WAIT for Key levels to be either Respected or Rejected as we move forward.

Let’s have a look at The USD/JPY and The AUD/USD on the Hourly IntraDay Basis, as we “measure the Depth” of the Ranges and Corrections.

Give the Captures a Click for Levels of Reference and Commentary above… and Post-Time is 15:40 GMT.

The Hourly Dollar Yen sees Clear Range-Bound Consolidation…although Dollar Strength is in an Uptrend Hourly Channel.

Continuation sees The Unit looking for the Highs at the 101.00 Handle in the Mid-Term if the underlying Momentum can be maintained.

The Aussie shows the Clear Corrective Sentiment we have been speaking of… which is similar in most of the Stronger-Beta-Units such as The Queen and even The Kiwi.

As always… I will be back with you for a few more Updates to end our Trading Week!

Please Stay Tuned!

Greetings again, Everyone!

We arrive at The U.S. NYSE Close… where Equities were largely “Flat” today as is The Dow and S&P… despite coming off of their Lows from earlier in The Session.

Crude Oil remains the “Macro-Star” of the Day… with Gold right behind as these Commodities and their Correlations do contribute and are one Factor in The Macro-Dollar Weakness as well.

The Macro-Consolidation seen on the Daily Dow View is indicative of most Consolidative Activity on Currency Units as well.

We did see some Corrective Strength in The Dollar and Yen as we spoke of in our previous Blog Update… and as expected… The Corrections were “Shallow” at Best up this Point.

Let’s check the Consolidation on The Dow Daily, and also have a look at The Dollar-Correction Extent by looking at The Queen on the Hourly.

Give the Captures a Click for Reference Levels, and Post-Time is the “Doldrum Times” at about 20:30 GMT.

The Queen is certainly indicative of Correctional Activity beginning… and I emphasize that my Thoughts on “Shallow” Corrections are a Reference only up to this Point in Time… as Deeper Dollar and Yen Strength may certainly continue in The Near-Term.

We can see this “Potential” on The Hourly View… as Price may See and be held “In The Box” of my Magenta Support and Resistance Lines here, as 1.6170’s Daily Static Support is certainly a possibility!

As always, I will be back with you in just a little while for Thursday’s “Big Blog” Post, so please join me soon!

Greetings again, Everyone!

While overall The Fiber and The Cable are in Daily Consolidation in general… The IntraDay Perspective really illustrates the extreme “Out-Of -Favor” Sentiment of The Dollar. This is perhaps, seen most clearly on the Aussie Dollar.

Our continual Thoughts on possible Corrections for the Integrity of these trends are still Valid Concerns as we move forward… as the excessive Energy and Momentum used to build these Trends will need to be Expelled. While “Shallow” Corrections are to be expected… in this Environment, it usually takes a “Catalyst” of some Fashion to really cause significant and Deep Corrections with such Uni-Directional Trends.

The U.K. Production and U.S. Trade Balance Data Points are significant enough to be these Catalysts, and we will simply have to observe to see the relative Strength or Weakness of the Data moving forward.

Here are the Hourly Views of both The Aussie and The Queen with Commentary above, so give them a Click for various Levels of Reference.

Post-Time is 7:15 GMT.

The Aussie looks to a New “Transitive Rollover” of Resistance-Becoming-Support at the Coveted .8000 Figure, as Price propels from out various previously-Ellipsed Areas in search of a potential “Re-Test” and Formation of an IntraDay Double-Top at the .8120’s Level.

Any Correction in the Immediate-Term at this Point may be held by the Dynamic Support of the 50% Weekly Fib Variant as Price may look to Fall back into the L.R. Channel in this Case.

The Queen still shows no real Signals of Resting or Exhaustion at this Point… as Price Clear the Upper-Trendline of our Long-Term Daily Channel beginning in March.

Price now sees Dynamic Support Confluence with this Channel Trendline and the Weekly 61.8% September 2008 Downleg Fib Variant.

Continuation looks to the 1.6480’s now in the Near-Term, as any Corrective Sentiment sees a return to the 1.6200’s Levels on Initial Impulse.

For more intimate Detail on The Majors, please feel free to have a look at the “Currency Majors Technical Perspective” Report, and as always,… plenty more Updates will be coming your Way as we deal with a Data-Heavy Trading Day!