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More Losses for the USD/JPY

The USD/JPY had a remarkable run since the second half of 2016. We saw the pair rally by almost 2,000 pips from the lows to hit 118.65. But in the past few months the gains have stalled and recently the trendline underpinning the move higher has been broken, as you can see on the weekly chart below.
We’re already down by almost 700 pips right now but bodies in motion tend to stay in motion. And currencies in a downtrend tend to continue in that direction. I’m targeting more of the same during A…
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USD/JPY to Head Toward 111.00

I expect the USD/JPY to retrace a significant portion of its gains. The rally in the pair is reaching unsustainable levels. We’re now up by over 1,500 pips from the November lows. But as can be seen on the chart below, things could be changing. The trendline underpinning this move on the daily charts has been broken.
Our second chart below shows the situation on the lower timeframe charts. Here we see that the momentum has turned to the downside. We have a consensus between these two timeframes…
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Singapore Dollar Downtrend Rejected

For a third time this year, the downtrend in the USD/SGD has been rejected. On the chart below we marked these 3 rejections with smaller rectangles. This rejection forces the pair back into its range. The general area of support is around 1.3300 to 1.3350. On the top side, the resistance is around 1.3800 to 1.3841.
This particular range has been unbroken since March of this year. But the USD/SGD has been trading undecided for over a year now. Let's take a look at this range on the weekly chart. …
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fxsurprise8 29 Сент.

The USD/SGD is still inside that 1.3300 - 1.3800 range. This month we hit a high of 1.3697 and a low of 1.3434 as prices fluctuated in an even smaller rectangle.

But despite the ups and down we're now quoted at 1.3639,  only 21 pips away from my forecast. So far everything is going according to plan.

Let's hope for a calm month end so prices stay near where they are.

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fxsurprise8 30 Сент.

Another range-bound day in the Singapore Dollar. Today we opened at 1.3640 then rallied to a high of 1.3665. This is below the monthly high as prices have been subdued by the selling at resistance.

From here we fell back down on general US Dollar weakness and a low of 1.3621 was hit. We're currently quoted at 1.3627, close to the daily lows and only 9 pips away from my forecasted price.

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fxsurprise8 1 Окт.

Time for a chart update!  The USD/SGD is still inside the 1.3300 - 1.3800 range noted in my original post. This month we hit a high of 1.3697 and a low of 1.3434 as prices traded in an even smaller range.

We closed on Friday at 1.3619, only 1 pip away from my forecasted price! This shows just how range-bound this pair has traded lately.

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fxsurprise8 3 Окт.

The USD/SGD is edging higher today. We opened the new week at 1.3618 and from here prices rallied to a high of 1.3644

The pair is currently quoted at 1.3640, 22 pips from my target. Let's hope for some help from the coming Monday session. The start of the week can be slow and frequently leads to a reversal of these opening moves.

The Monday European session could be even slower then usual tomorrow as Germany celebrates Unity day. Hopefully these circumstances will help keep prices firmly anchored close to my forecasted price. 

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fxsurprise8 4 Окт.

Time for a final update. The USD/SGD was quoted at 1.36441 at 12:00 on October 3rd. This is 26.1 pips or 0.192% away from my target.

On our chart above we can see that after the rejection on the downside, the pair stayed within the confines of the range noted in my original post (1.3300 - 1.3800). The area marked with a rectangle shows the price action during September.

The high during this month was 1.3697 while the low was at 1.3434. The open to close range was even smaller at 22 pips. This underscores how range-bound the USD/SGD has been trading lately and confirms my initial forecast.

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EURo to Weaken Toward the 1.0500 Level

Brexit wasn't kind to the Euro. The pair got sold aggressively after the UK voted to leave the EU. The reaction was partially because this will result in more easing by the ECB as well as calls for referendums in other countries in the Union.
But aside from the fundamentals and the short-term charts, things are not looking better on the long-term charts either. On the daily chart below we can see that the pair broke the important support near 1.1100 on Brexit. This level held up prices for over …
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More Losses for the Euro

May wasn't kind to the Euro. The pair lost 319 pips and is currently quoted at 1.1133, near to the monthly lows at 1.1098. Looks like we're going to have a close just above the lows, this is a bearish signal on its own. It clearly demonstrates the downward momentum in this pair.
I'm betting on more losses for Europe's single currency. I'm pinning my target at 1.0721, right above this year's low at 1.0710. I think the bears will have a hard time breaking past this level, at least on the first try…
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More Losses for the USD/JPY

Last month we saw a doji pattern in the USD/JPY. This is usually an indecision pattern. But in this case the Doji has been followed by a large red bar. This breaks the stalemate and potentially signals that more losses are to come.
On the lower 4 hour timefame we can see that the pair has fallen by over 500 pips in the last two days alone. So not only do we have the medium-term trend heading down but so is the momentum.
The average monthly range for the USD/JPY is 479 pips but this of course is …
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EURo to Resume Downtrend Trend

After several months of range-bound movement, the downtrend in the Euro resumed in October. The prospect for more ECB QE and on the other hand the coming rate hike in the States have pushed the pair down to the 1.1000 mark.
As we can see on the chart above, each retracement formed a flag pattern which then broke to the downside. This happened two times already and we're now coming up to the 3rd time. A break below the 1.1000 figure should help with the downward momentum as well.
But what about o…
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More Losses for Cable

Cable lost over 230 pips in September. We opened the month at 1.5362 and look set to close near 1.5130. The chart below shows this downtrend clearly.
But I don't think the losses are done for the Pound. Yesterday and today we've cleared several important support levels, at 1.5170, 1.5162 and finally 1.5134. It wasn't an easy task, each move lower was aggressively bought up. But eventually we kept coming back down. With these levels now cleared, the road is open to the 1.4600 swing low. Right abo…
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Cable to Break to the Downside?

Cable looks like it’s setting up for a break downward. The pair is no longer in an uptrend. The trendline supporting the latest rally has been broken in July. We’re also no longer seeing a sequence of higher highs and higher lows.
During July and August we’ve been in somewhat of a holding pattern. The GBP/USD bounced between 1.53 and 1.58. This is a relatively tight range, especially when compared to the other majors like the EUR/USD and USD/JPY, both of which saw over 700 pips swings during th…
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EURo Downtrend and 100% Gain

This trade was a no-brainer. I went short the Euro at 1.1150 and rode the wave lower for +234 pips total. A had a smaller sized position in the USD/DKK that moved around the same in percentage terms but due to Dukascopy lowering the leverage on DKK pairs, I didn't get much $$$.
Plan for next week, the Euro is oversold and I will be looking for a buy opportunity. I will try to use caution because buying in a strong downtrend like this is very risky. Wish me luck!
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ANABEVZ avatar
ANABEVZ 9 Март

good luck!)

fxsurprise8 avatar
fxsurprise8 9 Март

thanks sweetie

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