EURUSD Resistencia a la vista. EURUSD ¡ Resistencia a la vista traders ! En el intradiario en el cruce de forex EURUSD se mantiene neutral, ahora estaría en un proceso de consolidación, por encima del mínimo temporal de 1,0600. Si bien, no se puede descartar una recuperación más elevada, la subida debería verse limitada por el área de resistencia de 1,0720 1.0700. En la zona de ventas, la ruptura del soporte actual 1,0600, reanudará la tendencia y por lo tanto la caída teniendo el siguiente soporte en el área 1,0520. Leandro Andrada twitter @leanco Blog http://leanco.es Trader Profesio ..read more

Rounded Top Developing Last week’s “Chart of the Day” highlighted the JPY futures (6J) as they were breaking down through wedge support. This has taken place, and now intervention talk is louder than ever. As this has happened, the risk for intervention has indeed increased and with the CHFJPY, it may pose a better risk/reward for fresh short positions (or long JPY). The Swiss National bank (SNB) keeps rates at 1.5%, which is lower than most G10 central banks. And with the Bank of Japan coming out of “negative rates” and eventually raising rates over time, the gap between the SNB and BOJ sh ..read more

Intervention risks! The 6J is the Chicago Mercantile Exchange contract for the JPY futures. We have been in a bearish wedge and probing pretty key support. Our listeners of our daily show have asked our team how close we would be to intervention from the Ministry of Finance (MOF), or intervention rhetoric from the Bank of Japan in recent weeks. Our team has explained almost daily that we should not focus on one pair (i.e. USDJPY) but more of the JPY in general. Today, with the move of the USDJPY above the 152.00 level, the risks have increased. But the fact that the 6J has reached support a ..read more

Trading the US CPI data Once again we have a data point being built up into the biggest thing ever since the last biggest thing ever. Is it important? Of course but is it a game changer? I doubt it. What we’re trading regarding the Fed right now is when and how many cuts there will be. The market is pretty much at 2 cuts, some Fed heads are at 2 cuts and many are saying there’s no rush to cut, so we’re leaning to the less dovish side. That means a hotter, or on the money inflation print today will see the timeline pushed out for cuts, and maybe a reduction (in bps terms) for total cuts this ye ..read more

USDMXN is in a strong breakdown for the last few months if not years, with recent extensions down to 16.30 after a nice breakdown through the trendline support. We see some nice and extended drop as Bank of Mexico moved rates significantly higher over the last few months, up to 11%, much more compared to US, which explains why USDMXN is in a down trend. Well, today MXN CPI came out less than expected, at 4.42% vs 4.5% forecast, so possibly this can allow USDMXN to see some short-term rebound before the market makes further declines. Looking at the 4h chart, we see nice five waves down within ..read more

USDJPY Posibilidades. USDJPY por debajo de resistencia clave. El el intradiario en el cruce de forex USDJPY, se mantiene neutral en este punto, mientras continúa en rango, por debajo del área 152.00 En el lado de ventas, la ruptura de 150,80 devolverá el sesgo de intradía a la baja, con posibilidad de un retroceso más profundo, soporte 149.80 . Sin embargo, por el lado de compras, una ruptura sostenida de la resistencia clave de 151,90 confirmará la reanudación de la tendencia alcista a largo plazo. Leandro Andrada twitter @leanco Blog http://leanco.es Trader Profesional y colaborador ..read more

The Forex Analytix US Non-farm payrolls competition is up and running We’re a quarter of the way through 2024 already and time seems to be flying by. We’re ready to hand out 3 free 1 month passes to the Forex Analytix platform and chatroom, a veritable hive of excellent traders. All you have to do is pick a number for Friday’s NFP and 3 lucky winners closest to the number will win a free month. The rules: You pick a number as your guess for the Friday NFP number – 1 guess per person First person who picks a number gets it (you can pick another number if your 1st guess is taken) Closest to the ..read more

Silver has been trading sideways since 2021, indicating a corrective move due to its choppy and overlapping price action. This pattern suggests the formation of a significant triangle, with the final wave E potentially completed, down to 22.00. It appears that this downward movement may be nearing its conclusion as the metal attempts to stabilize after three consecutive downward legs since December 2023. Recently, there has been a notable recovery, marked by a significant move above 23.50, followed by a breakout from a base channel and above 24.50 on the 4-hour timeframe, potentially indicati ..read more

Know the dos and do not dos of Easter trading We’ve all been talking at various moments about what can happen at this time of year so I thought I’d compile it all together into a rough guide. In my many years, the majority of these periods are quiet in FX but there have been some outlier moments so it’s good to know what to look for and how to react. Usually things will be quiet and nothing will happen due to a lack of liquidity. That lower liquidity can move markets more sharply if there’s a big headline or data point surprise (We have PCE and Powell this year). If you see any sort of funky ..read more

USDCHF Posibilidades. USDCHF posibilidad de soporte. En el intradiario el cruce de forex USDCHF se mantiene neutral, para consolidaciones por debajo del máximo temporal de 0,9020. La posibilidad de un movimiento descendente, debería contenerse por encima del soporte de 0,8840 para desarrollar un nuevo rebote. La ruptura de 0,9020 , reanudará el movimiento desde el soporte 0,8330, cuyo próximo objetivo es el área de resistencia 0,9080 0,9100 Leandro Andrada twitter @leanco Blog http://leanco.es Trader Profesional y colaborador de @forexAnalytix BIO: https://www.forexanalytix.com/team T ..read more