Introduction: This chart review of the Mexican Peso was prompted after my viewing of Blake Morrow’s weekend video analysis and details of this video can be found through the following link. The Mexican Peso generally trades inversely to that of the S&P500 and, with the US major stock index looking a bit toppy / extended, […]
Risk appetite rebounded last session and there have been some great trend line breakout trading opportunities. I hope you all caught some of them. The GBP/JPY descending wedge breakout was one of the better ones on the day!
The US Federal reserve seemed to strike a Baby Bears Porridge tone with their latest messaging, acknowledging improving strength in the US economy but without offering any time line for the roll-back of stimulus. US stocks ended up closing the session higher but, so too did the US$ index which put pressure on the EUR/USD […]
The main calendar item for today is FOMC and it will be the closely scrutinized for any news about the pace of US stimulus tapering. The charts below show revised trend lines and levels to monitor for any new momentum breakout.
The week started with a strong stock sell-off. The risk-off mood developed during thin Asian trade on Monday with concern about the debt-ridden Chinese property behemoth, Evergrande. This gripped the Australian markets in particular as the company is the consumer of about half of all Australia’s exported iron ore. There has been a double-whammy ‘down […]