Currently we are at 0.9635 in a large range. We are looking for a continuation to the 0.786 Fibo at 0.9547 and then a continuation to the bottom at 0.9520. The average daily true range (ATR) for the pair currently is 73 pips.
Forex technical analysis: GBPUSD buying stalls. Battle begins.Some observations....Admittedly, summer time markets can do anything (right Mr. Gekko?) and in the NY session the dollar started to get hit. It seemed to start with the EURUSD, then the AUDUSD got involved. The USDJPY, USDCAD…Read More
Aussie makes the break but it still has work to doFinally someone answered the doorbell on AUDUSDI hate this pair. It squeezed the life out of me when shorting it above parity years ago. It's one of those pairs that can defy monetary policy, economic data, the cricket team l…Read More
Oil hits three-week high, what's nextOil touches best level since last week in JulyWTI crude oil is up 16-cents today to $43.17 after rising as high as $43.52. The market is watching OPEC, which revealed plans yesterday to hold informal talks next month. At…Read More
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