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We are seeing several pairs moving towards possible sell signals on the 30m Ichimoku charts.

#1) is the EURJPY which is currently below the Kumo (cloud) but is showing strong Momentum readings and CCI all pointing to the next short term move up. However there is good fib protection from the last downleg (134.50-130.75) all the way up to 133.00 which is also the M3 pivot and the 50% fib/daily pivot below in the mid 132 region. If these hold (particularly the latter) and we see a sell-off to foll… Continue

As we wrote last week the EURUSD closing above the 20EMA was a good short term technical signal for the bulls and the pair has not disappointed. Since then it has posted 3 consecutive bull candles and has put together 5 consecutive up days which it has not done this entire year. This is confirming the short term technical bias to the upside but the pair has its challenges.

Looking at the chart below on the daily time frame, we can see the Kumo or cloud is looming above and is quite massive. The… Continue

There is no doubt in anyone's minds these days that the global economic crisis is still in full gear and has not let its foot off the gas. What is interesting is considering how dire the news has been about pretty much every economy from the US to Europe to even Greenland, the FX markets are not selling off as heavy as they were in the 2nd half of 2008. This raises some interesting questions. Such as;

Was the massive FX moves in JPY and USD pairs due to the surprise it caught people off guard?… Continue

The GBP fared worst of all against the USD opening up London around the 1.41handle and is now bottom feeding just under 1.3800 at the time of this writing (1pm PST). This move was impulsive, steady and relentless even before it broke the big figure at 1.4000.

Looking at the 30m chart below, it sold off for 13 of 14 candles in a one way train and stayed inside the Bollinger Pocket (Green/Purple bands) only to exit out just after the London close. Since then, the pair has mounted little or no com… Continue

The CAD/JPY has had an interesting 09' opening the year around 74.50, dropping about six cents to the lows, while also approaching the 80 handle twice - both producing sell offs. Its first attempt at the 80 level was in the first week of the new year which was followed with a 1125 pips selloff towards the yearly lows. After a long march off the lows for 09 (Jan. 21st) it cruised along in a casual saunter towards that 80 handle again and came just shy flirting with it but no kiss. The pair then d… Continue