Sat 31st May May is usually known for stocks as the month for ‘Sell in May and Go Away’. One has to wonder whether this is true now given the close we have just seen for the major weight indices of the S&P500 and the Dow Jones Industrial Average (DJIA). A more appropriate axiom for […]
Thurs 29th May (4 pm) I am back from 2 days of much driving and I see the AUD/NZD has made a break of the key 1.09 S/R level that is the neck line of the ‘Double Bottom’. I have been writing for many weeks now in my various w/e and daily analysis reports for traders […]
Kiwi: watch for any break, close and hold below the 0.85 level. This would suggest more bearish follow through. A possible target could be the monthly support trend line which is almost 500 pips away. This forms the support trend line as part of the bullish ascending triangle. The daily 200 EMA might offer some support […]
Wed 28th May (5.40 pm) Indices: the USDX has continued to track higher:
Mon 26th May (8.15 pm) The EUR/AUD and GBP/AUD have both been setting up in ‘Bull Flag’ like patterns on their 4hr charts today. The EUR/AUD might be making for a bullish breakout but there is little momentum behind the moves on either pair just at the moment and, thus, I’d be a bit wary. […]