ABRAK75

ABRAK75

So long as USDCAD trades above 1.31 this week, there's a case to be made for a bullish reversal on this trend line support (despite the recent spike in oil prices). If prices continue falling past 1.31 without any rapid sell-off, I will probably disregard this trend line. A strong break below would expose the 1.27/28 area in the near term. I would target 1.35/36...

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The chart speaks for itself really. Sub 0.77 CHF, this pair remains in a bearish trend. That said, this dynamic would eventually end should the SNB ever take more aggressive measures to weaken the CHF against the EUR.

ABRAK75 Updated 

Just like silver, gold is testing an important technical level today. As seen on my chart, $1304 has seen clear tests and breaks since Jan 2015.

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Risk aversion has been supporting the euro this week (carry trade affected) in a similar manner to what we saw in August 2015, albeit with less volatility so far. EURUSD has risen so much this week, the market seems poised to test the bearish trendline under which we witnessed a sharp selloff in October. This trendline, as well as the 200-DMA are found at...

ABRAK75

$18.50 has been a critical technical level since June 2013, and we may see silver prices stall at this resistance today. If so, prices may fall back to the 200-DMA (currently $28.44), and any break below that would suggest a further decline to possibly $16 over the medium term. On the upside, a new break above $18.50 could trigger enough bullish momentum to push...

ABRAK75 Updated 

This chart speaks for itself really. The AUDJPY is hovering just below its 200-day moving average (currently at 80.11) with a bearish trend line resistance at 80.70/80. Upcoming Japaneses inflation data may provide a catalyst for a more clear direction in prices, which could possibly help determine whether this pair is destined to fall once again or break free of...

ABRAK75 Updated 

The TNX should be watched very closely next week as the daily chart currently indicates a high risk of seeing another bond rally in the wake of the latest US employment figures (which weren't all that bad). If doubts over a possible Fed rate hike towards the end of the year strengthen in September, the 10-year yield could fall back to it's historical lows, reached...

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The Aussie dollar has bounced back up to its multi-year trend line, which theoretically may halt the current rally in prices. That said, a break above $0.7700-50 could provide the upward momentum necessary to confirm an important bullish signal. I'm not much of a fan of head-and-shoulder patterns, but it seems like such a setup could be in play were prices to...

ABRAK75

USDJPY is ending the trading week at a level that leaves us all in suspense for the start of next week. The pair is currently trading at 103.96 with a big resistance level at 104.00-30. There would theoretically be a potential for a double bottom should prices break above this resistance next week, but one would be hard pressed to aggressively short the yen so...

ABRAK75

Gold on the daily log scale is in an interesting spot right now. Support at $1300-05 has been tested (note the trend line on the daily log chart). While there seems to be some sort of wedge that has taken shape since the start of the year on my chart, I'm not in a bearish mindset as of yet, unless if $1300 is breached following the NFPs Friday. So long as the...

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CAT reached new annual highs last week but failed to break above an important technical level at $83.90 (50% Fib level in chart). A negative divergence has taken shape in the daily RSI as prices retreat from a trend line resistance tested on 17 August. So long as prices remain below $85.30 (current projected trend line level), we may see CAT correct down towards...

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Silver prices have retreated in August, but the rally so far in 2016 provided several technical buy signals earlier this year. These signals suggested at the time that the market's stance on silver, and precious metals in general, was shifting despite the continued backdrop of another possible Fed rate hike (still really low rates!). Today, silver has tested a...

ABRAK75

Check out this technical pivot, that has acted consistently as support and resistance on various occasions since November. Note the 200-DMA at $1.1097. I currently have a bearish take on this pair below $1.12 given the channel support break last Friday, and short entries seem possible below $1.11 today. If prices rise above this level on a daily close basis, I...

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A Tweet from Tracy Alloway with Bloomberg caught my eye this morning (twitter.com). She points out that the one-month VIX just tipped over the 3-month VXV. While this has happened many times in the past, I did notice that there is a rather large divergence between the VXV/VIX ratio and the SPX right now. The chart says it all folks. This certainly doesn't...

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The Kiwi dollar is reaching fresh 12-month highs this week, and spot prices may hit the $0.72 level within the next couple of trading sessions. In my chart, I've highlighted a channel with a slight upwards angle (compared to the sharp downtrend prior to June 2015) as well as the 38.2% Fib level (2014 highs to 2015 lows). This Fib level actually corresponds with an...

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If silver holds above $15.50 this week, a bounce off these trend lines would suggest further upside potential over the medium term to follow through with the reversal signal given back in April. Watch this closely. If there isn't a clear reaction around this level, then I would just forget about this chart and move on.

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Not an asset I would recommend to trade given it's highly volatile nature, but I find this chart interesting. Last Friday's high (27/05/16) allows us to establish a trend line starting from February 2014's highs. Hard to say what might happen here, but if prices break above this trendline (resistance at $2.19) sometime in the next week or so, we'd probably see a...

ABRAK75

This figure jumped out at me this morning when I looked at the weekly log chart. I don't have any particular biais or analysis on this stock, but the chart should speak to some of you.