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 once again, Everyone and Welcome To Wednesday!

Let’s continue our numerous references and discussions to our Two “Risk-Aversion Partners-In-Crime”, The Yen and The Dollar.

Similar to my enjoyment and use of Market Correlations… we always must be aware of the “Caveat Emptor” that drives these Two as well: The Correlation Activity moves In and Out of Each Other with Consistency.

In the same fashion that we are mindful of, say, The Dow and S&P Correlations to The Yen Crosses… we are always Mindful of the fact that ALL  of these Units must first “Stand Alone” with their own characteristics… as their Correlating Activity ebbs and flows.

Let’s check in with The Yen as a Whole… and first up is my Friend and Colleague here on FXstreet, Valeria’s Favorite Unit, The Dollar Yen!

( P.S. - Do not tell Her this…  She will leave Buenos Aires and track me down in Phoenix… Body Parts will be strewn all over The Desert Southwest… as I am consumed by the 4000-Degree Heat! … hee hee…     ;-)

With all of my sarcasm aside, The Yen is surely ruling the Day over The Dollar in today’s Work in terms of coming off of our Asian-Pacific Sector Thoughts on The Asian Bourses picking up yesterday’s Bearish Sentiments.

For a bit of Perspective, let’s check in on The Monthly View of USD/JPY, where seeing The High- 80’s Area of last December and January is certainly plausible… ( although this is unlikely without a significant prior correction being a Monthly View).

Give The Captures a Click for Various Levels of Reference and Commentary, with Post-Time being 6:45 GMT.

The Daily gives us more Clarity to work with, as Price remains in a Wide Downtrend Channel here with Dynamic Trendlines on both sides. Price continues to Breach significant Daily Static Support Levels,  and the Static 93.50 Support Area is certainly In View.

The Hourly shows the Breach of the 78.6% Fib Variant of the Full January 1995 79.76 Low to the 147.76 Highs as a Confluence Area.

Surely a very Long-Term Fib View here… although it does remain Valid in Illustrating the Deep Yen Strength we have seen since April of this Year.

My 6:30GMT  “Currency Majors Technical Perspective” Report  shows this exact Immediate-Term Bearish Sentiment with our “Four Major Siblings” as well that we are all very familiar with lately!

Of course, we will see what “Interesting Rhetoric” emerges from The G-8 today as we move through our Updates today… with the possibility of seeing some Accumulation leading to Consolidation at least in The Immediate-Term across The Markets.

If The Yen is any Bellwether of Indication though… The Idea looks to be off in the Distance a ways, doesn’t it!

Greetings, Everyone and Welcome to Monday!

We embark on a new Week with some Mixed Dollar Activity as Trading begins in The Asian-Pacific Sectors.

Gold continues Its IntraDay Corrections, as Oil remains Mixed to slightly Bearish at this point.

The Dollar looks to follow the Lead of The Yen ( or Vice Versa if you are following the G8 Communique and Logic…) as we open the Week with slight Dollar and yen strength Across The Board.

Let’s gets right to it since I probably bored all of you to death with my Weekend “Pseudo-Political Policy” Thoughts on The Economy and The G20 Summit of the last couple of Posts!…    

We shall have a look at The GBP/JPY and The USD/JPY as we move into the New Week, and here are Various Time-Cycle Views of Both.

 Asian-Pacific Sector Equity Markets are largely Negative as of this Writing… so our “Inverse” Correlation here is generally Intact with The Stronger Yen and in turn… a Stronger Dollar.

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

Post-Time is 1:50 GMT.

We see The Pound Yen in “Classic textbook” Corrective Form that Trend-Followers tend to prefer… so Bullish Builds coming in for better Rates is certainly highly-probable moving forward into The Session.

 The 159.80’s Area of Static Support just may be The Area The Bulls are looking for… although a Deeper Correction is always possible.

The Hourly gives the underlying Consolidative Sentiment that we have been seeing in The Unit, as Price looks to The Outliers of The Range to Anchor Price at 159.90’s to the 162.60’s.

The Dollar Yen is looking toward Clear Round-Number Support at the 98.00 Area… as Price looks to bounce around The Symmetrical Triangle Formation here on the IntraDay View.

Let’s step back a bit and check on the Monthly View… where we can clearly see some Parameters that have caused  ”Frustration” with The Unit the past several Weeks due to the continual “Push and Pull” Descriptors I like to use with The Unit…. resulting in Consolidation as The Battle has raged back and forth…

The Hourly View gives us more Clarity with how Volatile The “Battle” between these two has become.

The Wide Swings in Price and Sentiment really are a perfect “Indicator” for the Mixed and Uncertain Markets we are in overall. Vacillating between Risk Aversion to Risk Appetite will always have a direct Effect on this Unit, and Price is reflecting this Sentiment.

Support and Resistance is rather Clear within The Range… so Bullish and Bearish Sentiments need to Break their respective Ranges to be In Favor.

So here is where we stand at the Moment!

Please join me for the Currency Majors Technical Perspective” Report right around 6:30 GMT, as always, for more Detail as we progress through The Session.

Of course, plenty of Blog Updates to follow, so I hope to see all of You 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 once again, Everyone!

The Non-Farm Payroll Data Points certainly arrive significantly Better-Than-Expected, as the Actual -345K Loss displaces the -521K Consensus.

The Markets initially did without Activity, as a “Delayed” reaction is underway with Dollar and Yen Strength as of this Writing.

While The Media is impresses with the Headline Numbers…The overall Markets and Indices are not…as Risk Aversion works back in with Consideration to The Negativity of overall Unemployment rising to 9.4%… the highest since 1983.

In my personal View… Gold is a Fine Illustrator of overall Price Behavior, and here is The Hourly Capture with Various Levels of Consideration.

Post-Time is 15:00 GMT.

The Fiber also looks to Significant Dollar Strength as our Previous Ellipsed Highlighted Areas provide excellent “Anchors” for Price from a couple Day ago…as we still are “Framed” by our Near-Term Range of 1.400 to 1.4250.

As we always say… Market Memory is always In Existence… and Price always remembers where It has Visited as It ventures out on Vacation!… hee hee hee…           

The Dollar Yen looks to form a New “Transitive Rollover” here from Resistance-to-Support as Price may attempt to Retrace The Wick form Resettlement.

Our IntraDay L.R. Channel remains Valid in the Interim, as Price may simply Hold at this Point moving into The Weekend.

While Significant Volatile Activity has not been Seen overall… The Key in my personal View is how all of our Various “Anchors” of Support and Resistance and Dynamic Levels have “Framed” Price as It moves back into Areas It has seen before…    

Let’s keep a Watchful Eye moving forward, as The Equity Markets and Commodity Correlations may give a little more Impetus as the Day progresses… So more Updates on the Way, as always!

Greetings, Everyone and Welcome to NFP Friday!

The historical “Fundamental Benchmark” of the Currency Markets is upon us once again… with Consensus calling for slight Improvement in the Data Release.

After ADP comes in at a slightly negative -7000 Clip off of Consensus… Unemployment Claims, Unit Labor Costs, and Non-Farm Productivity all cam “In Line” with Consensus yesterday… giving a “Tempered View” to NFP tomorrow as a whole.

A “Neutrality” if you will… concerning the Data Itself.

Of course… with a Consensus tomorrow of a “slightly-improved” - 520K over last month’s -539K Actual… we hear Rhetoric of Moderation in The Employment Sector as a Whole in consideration of all the various Data Points.

We have a resurgence of Risk Appetite in the Near-Term Climate with no real “Logic” to cease the overall Dollar Sell-Off…irregardless of the Employment Sector here… despite how Crucial and Massive it is in accordance with our Overall Economic “Health”.

As they say… We have much “Bigger Fish To Fry”…    

In my personal View…  One of the Main Aspects fueling The Dollar Sentiment being Out of favor is the continual Rhetoric of China moving out of Dollar-Back Assets and working in their own Native Currency…. but we will leave this Topic for another Day, my Friends!     

We are still in Larger Macro-Ranges here Across the Currency Units… despite the Volatility yesterday as tThe  Majors gained..then Consolidated against The Dollar.

We check in with USD/JPY, GBP/JPY, and EUR/USD as we move into the Asian-Pacific Sectors.

Dollar Yen gives a Clue to the varying Depth of Risk Appetite, as The Dollar rallies in an IntraDay Uptrend Channel, as a New “Transitive Rollover” from Resistance to Support develops at the 96.60’s Static Support.

The past few days of Accumulation has been compensated for, as Price looks to see the 97.20’s in the Near-Term and if It Holds… a Reach to the 97.80’s/90’s is certainly possible.

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

Post-Time is 00:20 GMT.

The Pound Yen also adheres nicely to Its Larger Longer-Term Channel from February… as a “Textbook” Retracement has been underway with Yen Strength.

Maintenance at the 155.00/155.50’s Support Areas is Crucial for Bullish Sentiment to remain In Favor… as Price looks towards the a “Surge and Hold” above the 160.50’s Static Resistance Level.

The Fiber has also seen Gains against The Dollar…despite the early Dollar Strength yesterday leading into and out of the Interest Rate Decisions. We still encounter macro-Consolidation on the IntraDay Level as Price is “Anchored” by the 1.4140’s Static Support and the 1.4240’s Dynamic Resistance… with the Larger Range being 1.4070 through 1.4340.

We will definitely move around in these Horizontal Ranges… so Continued Volatility is to be expected when we “Elevator” Up and Down with Consistency.

Let’s see how Muted our Price Action becomes the closer we move to NFP…and in the Interim… Please join me, as always, for the 7:00 GMT “Currency Techs” Report as well as another Blog Update to follow!

I look forward to seeing all of You then!

Greetings once again, Everyone!

We are beginning to see some “Slowing Down” of Momentum and Behavior across most Market Units… as Accumulation and Continuation “Clusters”, “Flags”, etc. are being seen from a Technical Perspective.

Equity Futures are bidding lower on the back of Inflationary concerns with Treasury Yields possibly being a Catalyst to increase Mortgage Rates and such in the Housing Sector.

Gold sharply reversed IntraDay, but bounced back nicely on the back of this SAME Rationale… Inflation.

Safe-Haven Sentiment is returning there, despite the Natural Tendency for “Attraction” to the $1000/Oz. Level being a Factor as well.

The July Crude Futures Contract, ( as well as the Continuous “True” Contract on the NYMEX…) looks to continue a bit of Consolidation from an IntraDay View.

The Dow and S&P 500 look to open lower a bit as well…. so my entire Thought Process here reflects back to the “Shallow” Corrections we were speaking of being Mindful of as we move forward.

My larger Views on the Macro-Corrections are certainly not in View at this time, so “Normal” Technicals are playing out and laying Proper Foundation for us as we move along… especially for those of you who work on an IntraDay Basis.

Let’s check in on The USD/JPY from our last Update… as our Flag certainly has been broken to The Downside for the “Magnet” Transitive Rollover of the 95.50’s Static Support Area.

The “Push and Pull Battle” of these Two Currencies is clear here… as our Bull Flag is largely Negated, although Price may be attracted back into the Flag Area at the same time… Clear Indications of the “Infighting” with these two Low Yielding Brother-In-Arms!       

Give the Captures a Click, and Post-Time is just shy of the U.S. NYSE Opening Bell at 13:25 GMT.

 Gold and Oil still look to find their way to a bit more Correction… and again… these Levels are for a bit more of a Longer-Term View as Accumulation continues with Crude and Gold works Its larger Range here…

We have Pending Home sales on the way soon… so be Mindful of this Data, as any Housing Data is in the Spotlight lately with the whole Treasury/Bond Yields Behavior and the concerns for Interest Rates keeping some Pressure on opening Opportunities for the Consumers!

As always, I will be back with more Updates as we move along, so please join me soon!

Greetings again, Everyone!

We make a brief Stop for a visit with Dollar Yen… since these “Two Friends” are receiving the most Pain concerning the current Risk Appetite.

We do have a Clear Hourly Bull Flag Continuation Pattern here to work with… and if it comes to Full Fruition… we will see the 99.00 Handle easily in the Mid-Term.

Of Course… that type of Appreciation is only “Technically” Correct if the Flag comes to “Full Completion”, so in the Interim… a Break of the Flag to the Upside sees Clearance of 96.84 Static Resistance to Breach the 97.24 Area for a reach at the 98.00 Handle.

Downside Breaches of The Flag look to Static Resistance at 95.50 and the 95.00 Areas in the Near-Term.

Here is an Hourly View… where The Dollar and The Yen continue their own little “Push and Pull” Behavior that we have become so accustomed to with this Unit lately!

Give the Capture a Click for Levels, and Post-Time is 7:50 GMT.

Here is the just-published  “Currency Majors Technical Perspective” Report for more IntraDay Detail and Levels as we move forward… as we see even more “Ranging” Push and Pull Struggle between these Two in the Near-Term.

The Continual Battle in USD/JPY …. Strong vs. Strong or they are Weak vs. Weak.       

As always, I will see you for several more Updates as we move along throughout our Day!

Greetings once again, Everyone!

With Durable Goods coming out of the U.S. at a surprising Clip and Surge of  1.9% overall and 0.8% Core, as Initial Jobless Claims fell by about 8K as well.

Once again… a  probable Stability “Ingredient” to add to our List of “Basing and Stabilizing” Improvement in Data.

The USD/JPY is still the “Overnight Star of our Views… as the Unit has carried the Yen Crosses back to Appreciation after some Corrective Activity.

We check back in with “The Battle of The Channel” in EUR/GBP as well…  as The Queen slows Her Swimming against Euro in the past 12 Hours or so…

Here are the IntraDayHourly Captures of both, so give them a Click for Commentary.

Post-Time is just a few minutes after the NYSE Open at 13:45 GMT.

The Dollar Yen appreciates with Significance as the “Bleedout” here should keep the Yen Crosses moving right along… as well as the EUR/USD  in the Immediate-Term.

The Dollar is the “Weaker” of our “Two Risk-Averse Friends”… so we will monitor how this progresses throughout our Day.

The EUR/GBP Unit finds Daily Dynamic Resistance with our L.R. Channel Mid-Line from our March 18thOrigination from the Channel High… with an Appreciative Breach of this Level seeing The Queen continue Her Correction to the Weekly 50% Fib Variant Upleg from October 19th  at .8747/50 Area.

Of course… back with more Updates on this busy Data Point “Catalyst” Day…along with OPEC and Crude inventories ( delayed from yesterday’s normal Routine… ) so please join me as always!