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  • Squawk / 7 hours ago
    Founder, Owner, Director / Market Chartist
    United Kingdom
    European equity averages poised for more bearish signals by Steve Miley

    In our last report on FX Explained here https://www.fxexplained.co.uk/forex-articles/current-market-analysis/global-equities-remain-vulnerable/, we highlighted downside vulnerability for global equity markets, with major indices suffering significant losses on Monday, with the US benchmark index, the S&P 500 spotlighted in our prior update.

    Further losses on Tuesday for the major US and European equity averages through important support factors have reinforced short-term vulnerability, with risks now even for intermediate-term bearish signals.

    Here we spotlight the German benchmark average, the DAX, poised just above the October low at 11035, set to make a potentially more negative statement.

    See the full article here with day view and levels:
    https://www.fxexplained.co.uk/forex-articles/current-market-analysis/european-equity-averages-poised-for-more-bearish-signals/
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  • Squawk / 7 hours ago
    Founder, Owner, Director / Market Chartist
    United Kingdom
    USDCAD stays bullish, but USDJPY is caught in an intermediate-term rang by Steve Miley

    We have recently highlighted upside threats for USDCAD and USDJPY.
    The ensuing USDCAD surge higher has reinforced the previous push above a key resistance at 1.3228, sustaining the intermediate-term bullish theme.
    This has been helped by ongoing weakness in the Oil price, with the Canadian Dollar directly correlated with the price of Oil (as a net exporter)
    However, a USDJPY has reflected a more risk averse global backdrop, with major equity markets falling into the second half of November and the Japanese Yen rallying, seen as a safe haven.
    This leaves USDJPY in an intermediate-term range.

    See the full article and video analysis here: https://www.forextraders.com/forex-charts/technical-analysis/usdcad-stays-bullish-but-usdjpy-is-caught-in-an-intermediate-term-range/
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  • Squawk / Monday at 7:55 GMT
    Founder, Owner, Director / Market Chartist
    United Kingdom
    Euro bear forces eased for now, by Steve Miley

    Earlier November losses for EURUSD through 1.1300 produced an intermediate-term bearish shift.
    However, a very slight easing of Brexit tensions at the end of last week, alongside no new negative developments with respect to the Italian budget have allowed for a corrective EURUSD rebound.
    The intermediate-term outlook remains negative for EURUSD, but the immediate risks is for a correction still higher (though likely capped by 1.1500.

    See the full article here: https://www.fxexplained.co.uk/forex-articles/current-market-analysis/euro-bear-forces-eased-for-now/
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  • Squawk / Monday at 7:53 GMT
    Founder, Owner, Director / Market Chartist
    United Kingdom
    Dollar Bulls must be patient, Selling pressure will be overcomeby Stephen Pope

    Selling of the U.S. Dollar Index on Friday may persist through Monday
    As the week pushes on, this will yield to new buying momentum
    The technical sentiment for the Dollar Index is strong up to the next FOMC
    New bullish sentiment will prevail and will take prices higher

    See the full article here: https://www.fxexplained.co.uk/forex-articles/fundamental-and-macroeconomic-analysis/dollar-bulls-must-be-patient-swelling-pressure-will-be-overcome/
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  • Squawk / 13 November 2018 at 8:21 GMT
    Founder, Owner, Director / Market Chartist
    United Kingdom
    Euro shifts more bearish even ahead of the Italian deficit deadline

    A “risk off” tone on Monday across global asset classes was driven by lower equity markets, in particular US equity averages and notably the tech sector.
    This has seen further US Dollar strength, with a particular casualty being EURUSD.
    Concerns regarding a deadline today (Tuesday 13th November) between the Italian government and the European Commission regarding the Italian budget, alongside ongoing Brexit worries have encouraged Euro weakness.
    This weakening Euro alongside the aforementioned US Dollar strength has seen EURUSD plunge through key support lows from August and October at 1.1300, to a 16-month low, to sets risks for further losses into November.

    See the full article here: https://www.fxexplained.co.uk/forex-articles/current-market-analysis/euro-shifts-more-bearish-even-ahead-of-the-italian-deficit-deadline/
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  • Squawk / 12 November 2018 at 13:42 GMT
    Founder, Owner, Director / Market Chartist
    United Kingdom
    Elliott wave Analysis: EURUSD, USDJPY and Nikkei 225 Intra-day Developments by Gregor Horvat

    We see some serious and very strong dollar move at the start of a new trading week. EURUSD just went below August 2018 levels quite aggressively which seems like an important break-down, but until we see a close below that price it can be too soon to call that a breakdown! Also, an intraday chart shows pair in a fifth wave of decline which may see limited weakness here at 1.1200-1.1250.

    See the full article here: https://www.fxexplained.co.uk/forex-articles/technical-analysis/elliott-wave-analysis-eurusd-usdjpy-and-nikkei225-intra-day-developments/
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  • Squawk / 12 November 2018 at 6:58 GMT
    Founder, Owner, Director / Market Chartist
    United Kingdom
    AUDUSD and NZDUSD aiming higher

    A dip lower for global equity markets in the second half of last week, but the boarder recovery efforts from late October for “risk assets” remain intact.
    Furthermore, the antipodean “risk currencies”, the Australian and New Zealand Dollars produced solid gains in early November against the US Dollar, that have set up positive outlooks for the month (despite dips late last week).
    For AUDUSD, the threat is for a bullish shift above .7315 resistance, whilst NZDUSD is already in a bullish trend.

    See the full article here and video here: https://www.fxexplained.co.uk/forex-articles/current-market-analysis/audusd-and-nzdusd-aiming-higher/
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  • Squawk / 09 November 2018 at 7:02 GMT
    Founder, Owner, Director / Market Chartist
    United Kingdom
    EURUSD sets up bearish threat
    A firm US Dollar rebound has been seen over the past 24 hours since the FOMC rate decision and statement, with markets reacting to an expectation of another rate hike in December and likely three more in 2019.
    This was highlighted in the Fed statement by the view of a “strong rate” of overall economic activity, which has been received as a still hawkish view, despite the backdrop of a global equity market selloff on October, ongoing Trade War concerns and the potential for an increase in US political instability since the midterm elections.
    A notable casualty with the renewal of short-term US Dollar strength has been EURUSD, which plunged back lower to the bottom end of the more recent and broader range environments.
    Critical support to monitor for EURUSD remains the dual lows for 2018 at 1.1300, through which could see a far more bearish tone.

    See article: https://www.fxexplained.co.uk/forex-articles/current-market-analysis/eurusd-sets-up-bearish-threat/
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