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Euro / Japanese Yen 300 Minute Bars Prepared by Jamie Saettele, CMT The EURJPY has dropped below the June 2001 low of 9988 and the next major horizontal level is not until the 2000 low at 8894. The combination of the lowest daily RSI reading since September and the trendline that extends off of [...]
DJ FXCM Dollar Index Index Last High Low Daily Change (%) Daily Range (% of ATR) DJ-FXCM Dollar Index 9929.26 10020.28 9924.21 -0.80 131.97% The Dow Jones-FXCM U.S. Dollar Index (Ticker: USDollar) is 0.80 percent lower from the open after moving 132 percent of its average true range, but we should see the greenback [...]
The outlook for the Japanese Yen continues to depend heavily on the currency pairing in question, with the crosses continuing to show a strong sensitivity to broad-based market sentiment trends while the benchmark USDJPY is distorted by intervention risk. In either case however, the principal consideration for the week ahead is the outcome of a [...]
Fundamental Forecast for the US Dollar: Neutral Risk trends and the safe haven dollar offer an unusual reaction to a two-and-a-half year low unemployment rate Six central banks make a coordinated effort to boost access to the dollar loans Technical divergence warns that we shouldn’t chase the dollar in December A ‘Neutral’ forecast for the US dollar [...]
Euro / Japanese Yen Weekly Bars Prepared by Jamie Saettele, CMT The EURJPY actually registered its lowest weekly close in over 10 years last week and created bullish divergence with RSI in the process (RSI is based on closing prices therefore RSI analysis should be done with closing prices). The decline from the April high takes the [...]
300 Minute Bars Prepared by Jamie Saettele, CMT Both the rally from the October low and subsequent decline into November are corrective, which has me thinking that a triangle or flat is underway. If a flat, then price would eventually exceed 10750. If a triangle, then the range will tighten from here. Resistance is 10445 and [...]
300 Minute Bars Prepared by Jamie Saettele, CMT There are signs that the long term USDJPY trend is reversing (from down to up). Those signs include bullish RSI divergence at the October low and a positive slope on the 13 week average. A push through the trendline that has defined the trend since the May 2010 [...]
The Euro tumbled sharply against the safe-haven US Dollar amidst a clear deterioration in domestic fiscal issues, underlined by the widest spreads between Italian and German bonds since the Euro Era and fresh troubles in Greece. The continued series of quick-fixes to the deep-seated fiscal problems across the Euro Zone were laid bare when Greek [...]
It wasn’t just the dollar that opened this past week backed by a strong fundamental wind. Global investors sentiment was severely shaken by the suggestion that Greece’s Prime Minister was pushing through a vote on the EU’s austerity plan, which could have essentially been read as a vote on the countries membership in the EU. [...]
The following table includes the correlation between gold and the most popular currency pairs over various timeframes. A value close to +1 indicates a strong positive relationship between gold and the pair, while a value close to -1 indicates a strong negative relationship. Colored values indicate week-to-week changes of over 30%. ——————————————————————————————————————————— Gold [...]