Technical Outlook
Risk Appetite Picks Up in Overnight Trade But Rallies Should Be Sold
The latest rally in currencies and equities seem to be lacking any real solid justification, with more reasons to be looking to sell rather than buy.…
S&P 500 and Crude Oil Rise with Risk Appetite, Gold and US Dollar Sold
A near-term S&P 500 recovery threatens to undermine the safe-haven US Dollar. Crude oil set to rise with risk appetite while gold looks set for a pullback.
Yen Positioning at Level that Historically Marks a Turn
The difference in positioning between commercials and non commercials is at a level that marked tops in the Yen in 2009 and 2008.
Kiwi Surges as Risk Returns- Swiss Franc in Consolidation
Risk rebounded early in North American trade as global markets went back on the offensive, paring some of the steep losses sustained last week. The kiwi tops the performance charts against the dollar as investors go back on the hunt for yields.
Stalking USD/CAD Correction at 61.8% Retracement Level
Forex Technical Update Previous: USD/CAD Breaks Triangle to the Upside; Eyeing Parity and Beyond (8/18) USD/CAD The USD/CAD failed to even test parity last week before the market started trading sideways again below the 1.0 level. We start this week’s trading falling back down to the 61.8% retracement level near 0.9840 , testing it for a second time. The 1H chart sees the USD/CAD in a second swing down, which can be the C in an ABC correction. If the market closes below the 61.8% retracement level, we are looking at the 0.98, 78.6% retracement level to complete this ABC correction
Silver Spotted in a Double Top Attempt Entering the US Trading Session
Gold and Silver Technical Updates Prev: Upside Targets for Gold and Silver (8/19) Silver (XAG/USD) A Double Top can be a signal for some corrective bearish action. A double top is not simply 2 attempts that fail to break above a resistance (in this case silver found resistance near 43.95 , but also a break below the base (in this case 43.20 ). The 1H chart shows silver successfully forming a double top and is in the process of a bearish correction.
Global Equity Recovery Seen As Nothing More Than Corrective Bounce
Although we have seen a bit of a bounce in risk correlated assets in the early week, there is no evidence that these moves offer any form of legitimate optimism.…
S&P 500 Shows Signs of Life, Pressuring the US Dollar
The S&P 500 found a bit of support and started a corrective advance, sparking “risk-on” trading dynamics in gold and crude oil while pressuring the US Dollar.
Usd/Nok Establishes Back Above 100-Day SMA; Eyes 200-Day SMA
A daily overview of technical developments in the regional currencies. Take a look inside for the latest scoop on the Norwegian Krone and Swedish Krona.
