Technical Analysis

The Cable once again rose after the release of the BOE minutes and is once again nearing that 2.0000 mark!

The Cable continued to surge for the third straight day and has gained almost 200 pips within that time!

The Dollar continued to edge up higher against the Yen and has rallied for the 7th straight day.

The Dollar once again rallied hard against the Swissy but seems to have found resistance at the 2400 mark.

The Yen seems to have picked up some momentum as it has pushed the Dollar down lower for the 3rd straight day now!

The Dollar fell for the 2nd straight day against the Swissy after it had been testing resistance at the 2300 level for the past several days. Could this be a sign of a longer term downtrend for the buck?

After hanging around 3450 for the past several days, the Euro finally found some momentum as it took the dollar up to 3500 today.

The Dollar edged slightly higher against the Yen, nearing the 122.00 mark but the pair seems to be showing exhaustion. Could this be the end of the rally?

The Dollar continued to push the Sterling lower as the Cable dropped down to 9750, continuing its long term downtrend.

The Dollar could not break resistance against the Swissy and it dropped over 100 pips against the Swiss Franc before finally gaining back some ground.

The Dollar only made slight gains against the majors today but for the most part stayed still. After yesterday’s Sterling rally, the Cable also stayed still.

After slumping for over a month, the Sterling rallied hard today against the Dollar after the release of the BOE minutes.

The Dollar opened up the week making gains on all 4 majors today. Slowly but surely, the Dollar has been gaining strength on these pairs, but could it be time for some retracement?

The Dollar rallied nice against the Yen as it continued its long term rally ever since the pair bottomed out at 115.14 back on March 4th.

The Dollar strengthened back up with the surprise increase in Industrial Production. Is this just noise or could this be a foundation for a Dollar rally?

The Euro once again rallied against the Dollar and has brought it back up to 3600 again. Will the Euro be able keep its momentum or will it fall back down like it did the last time it got here?

The Dollar had taken the Euro down 150 pips since April 29th, but the Euro has finally started to fight back, bringing the EUR/USD back up above 3500.

Unfortunately, the first trade idea I’ve put out in a while ended up being a loser but I’m anxious to find other opportunities throughout the rest of this month.

Despite the rate increase made by the BOE today, the Sterling fell over 150 pips against the Dollar. It was a classic case of “buy the rumor, sell the news”.

The Sterling surged to 2.0000 as traders anticipate a rate hike from the BOE tomorrow. The Dollar stayed steady amongst the other majors, but appears to be set up for a fall against the Sterling.