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1980-1985 US Dollar Analog

Since I didn't had enough space to cover this matters on my US Dollar Macro and Technical view article, which you can find it here: US Dollar Macro and Technical
I thought to add a few more notes on what I'm looking when it comes to the US Dollar cycle. The 1980-1985 US Dollar analog has served as map to price action since the beginning of this rally(see Figure 1) If we measure the Fibonacci retracement from the index's secular peak in 1985 we can see that we didn't even touched the 38.2 fi…
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guilhemch 2015年05月11日

Thank you that was interesting!! I also have a sentiment that the USD bullish wave is not done especially vs the JPY.

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Daytrader21 2015年05月11日

guilhemch Also EUR/USD has to go below parity in coming years so there is plenty of room for it to go down

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USD/CHF Back Towards Parity

Even thought back in January USD/CHF crashed due the SNB Black Swan even, caused by SNB decision to abandon the 1.2 peg, we're back near parity level, and this is all due to the US dollar exceptional rally. The broad based dollar strength was playing a key role in this impressive recovery and we should see this pair above current year high around 1.0200 level as soon as the dollar bullish trend resume. Right now we're trading in between two big round numbers, with support level at 0.9500 and
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Daytrader21 2015年04月11日

Update 1: The 0.9500 level, big round number, has provided a good support and the market could break below it proving the current up trend. Next week we have a pivot point at 0.9900 which must be tested but however I don't think we're going to break higher than that for the time being the market seems in a much complex consolidation

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Daytrader21 2015年04月18日

Update 2: The market seems trapped inside the 0.9500 big round number and support level and 0.9860 resistance level. Over the past weeks we trade inside this wide range. We need a clear breakout of the resistance zone in order to have a chance to hit our target

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Daytrader21 2015年04月20日

Update 3: The market seems to be holding above 0.9500 big round number quite well, we already posted a green Monday candle this should help keeping up the momentum

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Daytrader21 2015年04月25日

Update 4: Well even thought 0.9500 was still holding the market there wasn't enough momentum to push it higher and basically we're unchanged from last week. The line of least resistance is still to the upside however there is not enough time to catch up 500 pips to meet our target

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Why are XXX/JPY Currency Pairs Rebounding?

Last week I've been giving out my own analysis on the yen pairs,arguing that we may see a rebound in the XXX/JPY currency pairs, you can find my blog post here: Still Confused about XXX/JPY Sell Of? What's next My whole analysis was around the point that Nikkei index which was at an important pivotal point is about to resume the uptrend and thus dragging the XXX/JPY pairs in the direction of the main …
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USDCAD Up trend entering in correction mode

The current USDCAD up trend has already entered in correction mode and we are expecting further consolidation before any big move to happen. The up drift from the last year low 0.9630 to 1.0610 high, has took shape of and 5 wedge rally within an upward channel. From the first picture we can see how each wave was constituted of 3 wave of minor degree which can be used as a map for future price action.
So, keeping that in consideration we can assume that for now we're going to retrace, as the w…
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Daytrader21 2013年10月25日

Update 2: USDCAD has not completely invalidate my forecast although we are witnessing a strong up movement the market can form a triple top at around 1.0550 and limit any upside gain. So we still have some room to the upside but the structure of current up movement suggest is still corrective , we should wait and see if we can get some reaction at 1.0550

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Daytrader21 2013年11月02日

Update 3: The market is showing sign of exhaustion after the recent rally. The structure of the rally suggest that we may revisit the bottom levels from where it started. The wave from the 1.0180 low to 1.0440 is the wave A of the correction, the wave from 1.0440 high to 1.0270 is the wave B and the projection suggest that the current high at 1.0495 is the wave C.

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Daytrader21 2013年11月08日

Update 4: Although we are far from our target the fact that momentum has slowed down may suggest that we can get our price target. The current up wave it has already 5 waves formation so this is another sign that we may get a retracement. Look for a false breakout above 1.05 and than the correction to start.

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Daytrader21 2013年11月15日

Update 5: In the last days the market has gone nowhere and we're still in the 1.05250-1.04000 range zone which took shape of an irregular triangle pattern that must be formed by 5 waves, we are in the last stage of this triangle and the only way we're going to see our target is to have a downside breakout below 1.0400

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Daytrader21 2013年11月22日

Update 6: With this prediction I don't think there is enough time for it to come down to my target, however I do think that it will break lower as we already made 5 waves to the upside, this last spike up has shown the market has lost the upside momentum so expecting from here on market to sell of

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