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Yen slide continues

al_dcdemo Updated 8 July  in #Trader's blog #USD/JPY #Breakout #100 Dma #Weekly Support 2 #H1 Chart #Monthly Support 1
Yen has been continuing its slide overnight after yesterday's buying in US session proved to be just a decent selling opportunity. It broke below 122.00 to return back to the December 2014 - May 2015 range.
The next cluster of support levels comes in around 121.00 (100 DMA, Weekly Support 2, Monthly Support 1, 00's) and is backed with the historical resistance (also April range top) near 120.80. Broken 122.00 level shall now act as a solid resistance.
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EURo range trading

al_dcdemo Updated 24 June  in #Trader's blog #Euro #EUR/USD #Range #50 Dma #100 Dma #Monthly Pivot Point #Weekly Support 2 #Greek Uncertainty
Very choppy range trading in the Euro today. There was no follow through selling after yesterday's two cent fall. Instead, the pair started to retrace those losses but didn't get past 1.1235 as Greek uncertainty continues.
Support is seen in pivotal 1.1050 - 1.1125 band that includes: 50 DMA, 1.12 big figure level, Monthly Pivot Point, Weekly Support 2 and 100 DMA. Given that it is summer, 1.1050 - 1.1450 range could well remain in play for several weeks to come.
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EURo declines overnight

al_dcdemo Updated 23 June  in #Trader's blog #Euro #EUR/USD #Rising Wedge #Daily Support 2 #Stop Run #50 Dma #100 Dma #Monthly Pivot Point #Weekly Support 2
In a bout of overnight USD strength, Euro fell 80 pips, breaking below the three-week rising wedge and the Monday low (1.1290) in the process. After the substantial stop run, it stalled ahead of Daily Support 2 just above 1.1250.
The pair is basically back to the pre-FOMC levels. If it doesn't bounce from here and instead continues to fall through 1.1200 - 1.1250, it may revisit 1.1050 - 1.1120 band (March/April range top, 1.11 level, 50 DMA, Monthly Pivot Point, Weekly Support 2, 100 DMA, 1.105…
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2 Comments
pipx avatar
pipx 23 June

Lets hope this picks soon :-)

al_dcdemo avatar
al_dcdemo 23 June

It'd be nice! But I wouldn't bet a farm on it. Ok, maybe demo farm :)

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