AgentSmith

AgentSmith

Historical price action has been quite consistent and I see no reason otherwise for this to change at this time. Upside break of the weekly triangle should result in a re-test of resistance now turned support in which to initiate longs. I have longs at 0.8888 and at the aforementioned 0.9150 with a potential target of 0.9840. In both previous cases a nice 700 pip...

AgentSmith

EU has been a relatively rubbish trade over the past year if you were looking for some trends. This sideways action has to break sooner or later. I prefer a play to the upside in line with the higher highs, higher lows and the trend line indicated.

AgentSmith

UJ is a really tricky customer. There seems to be quite a bit of long sentiment at this level which leads me to believe there is further weakness to come. I propose we are in the descending 4th wave of an ascending triangle with a downside target of +- 99.50, before the final 5th wave begins and takes us into the 108 handle. I would not be surprised if we get an...

AgentSmith

Geppy is looking to break the rising trend line formed from last year August. In the short to medium term I would be looking for a short play of +- 400 pips into the 166 area where I will be looking to cover and go long for a bullish triangle breakout to the upside.

AgentSmith

Not the prettiest Elliot wave setup I've seen but it does merit some attention. Approaching what seems to be the 4th wave terminus and getting ready for the 5th and final wave up. Theoretically support at 10320 should hold otherwise the Elliot wave is invalidated but I wouldn't be surprised if a throw-under (term? haha) occurs. The descending triangle also looks...

AgentSmith

Entered long @ 9290 for a projected 275 pip run to the iii wave elliott terminus which co-incides with the 1.618 fib extension. A number of confluences also hinting at heavy resistance in this area. Wave ii pullback was fairly shallow so momentum to the upside should continue. Estimated target at .9565 on around the 15th April. Let's see how this one pans out :)

AgentSmith

The Pound has outperformed the Euro for some time now and looks to consolidate into the new year. Conversely EurGbp is looking mighty oversold which suggests that euro strength will continue. EJ is still an excellent buy over GJ with room to run into the 1.45 area. Keep adding longs and make sure to set stops appropriately coz if capital markets come off (and we...

AgentSmith

I managed to get a good long entry @ 1.4080 on this pair. Looking for a new high to be made and ultimately a double top too in the 1.45 area before a sizeable drop into the 1.36 area. This coincides with the bearish rising wedge pattern we see on the chart which hints at lower prices in the weeks to come. In the meantime we could see a week's worth of...

AgentSmith

GBPCAD breaks upside resistance from major consolidation over the last 3 years. This falls in line with the risk aversion theme of 2013 for most pairs. An upside target of 1.7380 is very likely heading into the last 3 months of the year. This analysis should also help provide a clearer view on USDCAD over the next couple of months. This pair has been...

AgentSmith

Selling pressure off the double top has just broken support in the 1.4430 area. Some downside still on the cards with the best r/R a sell order off the aforementioned support now turned resistance. Look to cover in the 1.40 - 1.41 area where I am very bullish on a strong move up to major long term resistance at the 1.5420 area.

AgentSmith

An updated version of my previous analysis. This is how I'm looking to play the majors from a study of the dollar index. First week of September is loaded with event risk and as traders return to their desks we should see a pickup in volatility. My bet is on dollar strength into the FOMC @ mid September at which point taper expectations will disappoint resulting...

AgentSmith

Continuing the line of YEN forecasting my aim is to match strong currencies with weak ones. The Kiwi is quite undervalued in the long term IMO especially compared with it's Ozzie counterpart which has already made good gains across the board in recent years. 2013 being a year of risk aversion I look to hold shorts given the current head and shoulder formation but...

AgentSmith

If history is anything to go by UJ is a great setup at the moment. Spot positioning is heavy long in the pair giving further validation for a down move to shake out weak longs. USD longer term is still very bullish.. consequently load up on shorts into the 92.00 area meeting up with trend line support from late 2012. There is a good possibility of a fake break of...

AgentSmith

Still holding shorts from early July. EJ has moved *yawn* sideways for a month. Today's evening star + potential head and shoulders pattern gives further evidence to downside in the days ahead. The 0.382 retracement level from July 2012 lows & 1.618 extension downwards from May 2013 high put's the target squarely in the 118.50 area which also co-incides with...

AgentSmith

Market sentiment seems awfully long dollars atm with some divergence on momentum indicators. Distinct possibility of a bull squeeze into the 76-77 area taking out stops (check out 1998) before resuming the trend to the upside @ 100 and the .618 retracement. 100 represents fair value in the index IMO. If stocks start coming off over the next couple of...