Pattern that was emerging on AUDUSD had now failed , as price dropped below C point and now A point .

Found an emerging bearish bat on the AUDUSD. (note this pattern is now invalid see post after this one) Video also shows how to contruct a harmonic  pattern.

Medium term analysis here but one to watch if the price works to this pattern. So here is the 4 hour chart right now we can see price possibly turning at the 61.8 retracement. If the price action here continues up then the pattern can be seen to be forming . C point of the […]

The eurusd has been stuck in am 80 odd pip range last few days . I dont think anyone really wants to go long on this pair right now so we should be looking to short it on a break under 1.22 If we do move to the upside then look to short on a […]

Tommorow ( Thursday ) is the UK bank of England interest announcement . This as normal is widely expected to be kept at 0.5 % . They will also offer a statement which normally moves the markets one way or the other , if they hint at more QE then expect some moves to the […]

Here is the EURUSD daily chart. Now what is totally obvious is that it’s in a prolonged downtrend. There is no doubt what is causing this , it is the fundemental effect of all the euro bad news firstly with Greece and now Spain and the fact that the situation is far more complicated than […]

The EURCHF ground down to just above the 1.20 floor at Friday close. The Swiss national bank have repeatedly said that they will defend the 1.20 floor they set with vigor and unlimited resources , if they are to retain any credibility at all they have to intervene here next week. They did intervene earlier […]

A feeling here that the euro may have some further gains this week . Below is the 1 hour chart and the resistance area is totally obvious. So on a break of that 1.3280 line look for a retrace and a failure to break back to the down side to go long. Here is the […]

Going into next week looks like it will be  quite a busy one coming up pre planned news wise which  as usual will be keeping on our toes with our trading. The euro took a dip down to 1.30 last Thursday the lowest its been since first week of February. Will be interesting to see […]

Obviously the major news is that Greek debt is going to be restructured with the private sector taking a hit of around 100 billion euros. The next worry here is that these losses will be claimed back using insurance contracts that pay out to the private sector. On Friday afternoon Greece were declared in default […]