From the monthly archives: May 2010
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On Thursday, we went long the GBP/JPY at 130.65 as the pair looked likely to test, and then break above the 10-day SMA as daily studies last week indicated that the pair was oversold. Currently, it has indeed [...]
Continue Reading →This Monday, stock markets and futures exchanges in the United States are closed for Memorial Day holiday. Therefore, after forex.com/category/euro/”title=”euro” >Europe closes, currency markets may be more volatile than usual due to illiquid markets and thinner BID/ASK sizes. That said, I expect the dollar to [...]
Continue Reading →AUDUSD has put in a Shooting Star bearish candlestick formation below resistance at 0.8547, the 38.2% Fibonacci retracement of the 04/30-05/25 downswing. Confirmation of a reversal lower requires a convincing bearish close on the current candle and I will monitor prices closely for an attractive short entry opportunity.
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