The_STA

The_STA

First off USD/TRY is heading north again. Following a diplomatic spat, the Turkish Lira has sold off again and we are out of resistance levels. So what can we use?? well you can always draw a trendline and see if there is a useable parallel line to draw. Which there is ! at 10.02 and this coincides nicely with psychological resistance at 10.00 (markets love round...

The_STA

Potential Bull flag on the long term EUR/JPY chart implies this one has legs to run further. The recent move lower by the Japanese Yen is gaining traction. Not only has EUR/JPY recently broken above its very long term downtrend from 2008, but the is looks well-placed to break higher from a bullish consolidation pattern, This looks to us like a potential bull...

The_STA

GBP/JPY has broken through its 13 year resistance line. Note this is only connects 2 points so is known as a resistance line and not a trendline (which needs to connect 3 points). Nonetheless we are seeing big moves in JPY this week and are happy to go with the flow. This should now offer some support around the 153.50 area. We noted the divergence of the 9...

The_STA

Bullion Basing? While the rest of the commodity markets have been grabbing the headlines lately, you would have been forgiven for forgetting about the precious metals markets, however these now need to go back on your radar as we suspect that they are in the throes of basing. While we need more evidence to confirm, we would at least suggest that these deserve...

The_STA

One to go one the radar - Cable approaching MAJOR support just ahead of Fed meeting. So, the GBP/USD weekly chart is catching my eye just ahead of the Fed meeting. It is starting to break down from the 55-week ma at 1.3635 for starters – why is this important? Because I have noticed that over time that markets tend to mean revert to their long term moving...

The_STA

I always tell new users of technical analysis to stick to the basics, and the very first thing I teach them is to learn the definition of what is a bull trend and what is a bear trend. The definition of a bull trend is for higher reaction highs and higher reaction lows and to my mind the S&P is no longer in a bull trend. If you look at the above daily chart all I...