Double Top on the S&P 500

After a rally which has lasted since Fed Chairman Bernanke announced on the 60 Minutes TV program that the Fed was “electronically” printing dollars on March 15, 2009, the S&P 500 has made a double top which may indicate a reversal. That doesn’t mean I’m ready to short stocks (and get long the dollar) just [...]

Daily Forecast for Majors

EURUSD Forecast:
The EURUSD had a narrow movement of only 66 pips yesterday and we do not see significant technical move yet so far. The bias remains neutral both in nearest and medium term while the long term outlook remains bearish. The bullish correction scenario testing 1.3750 area remains intact. Price has been moving in a [...]

Daily Forecast for Crosses

EURJPY Forecast
The EURJPY attempted to push lower yesterday, bottomed at 123.01 but closed higher at 123.79. On the h4 chart below we have a significant technical movement as the trendline resistance has been violated to the upside indicating a serious threat to the bearish scenario after bullish reversal warning showed by the double bottom formation. [...]

Daily Forecast for Crosses

EURJPY Forecast
The EURJPY had a significant bullish momentum yesterday, slipped above the trendline resistance, but still unable to stay consistently above it. After bullish momentum triggered by the double bottom formation around 119.70 area, price is now facing a double top formation around 123.99 area. A failure to break above that area and break below [...]

Daily Forecast for Majors

EURUSD Forecast:
The EURUSD didn’t make significant movement yesterday. Overall price is still in consolidation range of 1.3450/35 – 1.3735/50. The bias remains neutral both in nearest and medium term but the long term outlook remains bearish. For me, there are two technical events that must take place in this situation to give us clearer direction, [...]

EURUSD Triple bottom at 61.8% Fibonacci retracement: Bullish reversal?

EURUSD made another Doji this week

EURUSD Weekly Summary: False breakout or further upside correction?

The EURUSD made another indecisive move

EURUSD Weekly Summary: Remains indecisive with another potential minor upside correction next week

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