In classic fashion, the USD failed on the third drive to the top against the yen and broke below the last pivot/support level. Expecting a new trading range to develop ahead of the Fed meeting next week:
The USD is in an upswing against the JPY but got rejected twice at the 90 degrees up price target calculated from the Oct 15th low. Currently, the USD has found support right on the 30 degree up angle drawn from the same low. A continuation of the trend should lead to another retest of 123.5. Any break below the support angle opens the door for a retest of the Nov 16th low:
Despite the record setting auction price for Modigliani, BID (the global liquidometer) hasn't done very well lately. The stock, however, is approaching a multi-year support zone, and an oversold bounce should be expected.
Following the Jan 7, 2015 shooting at Charlie Hebdo in Paris, the CAC40 sold of initially, and then gained 28% in following 4 months. CAC40 and European futures are rebounding already. Expecting a retest of the April '15 highs:
The USD has been acting very strongly lately against the CHF, and has exceeded both the average upswing price and time targets. Currently bumping against strong resistance between .9875 & .99. The slightest disappointment from the Fed today can throw this in reverse. Average dowside swing target @ .9675:
Despite a falling rig count since 2008, natural gas prices have been declining steadily for the last 7 years. Currently NG is testing the 2012 lows and offers a good risk/reward opportunity for at least a short-term long trade:
On the daily chart there's a gap at the 2.22 - 2.28 level that's practically begging to get filled:
The narrowing of monthly CIT Bars suggests that momentum is waning and the pair has entered a period of
consolidation which can last several more months. The trend remains up until the
CIT Pivot at 116 is broken. Still plenty of room for short-term swing trading
between 116 and 125:
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