Commentary

.. I last wrote 3 weeks ago on the continuing downward trend in CHFJPY.  We’ve had some increased volatility since after the Brexit vote but this has only served to emphasis the underlying negative trend.Friday’s aggressive bounce took CHFJPY back to the mid-point of the negatively trending Keltner channel but, importantly, lacked the momentum to test... read more

….I wrote 2 weeks ago about bullish sentiment for NZDUSD. That view was based upon prices remaining above the 21 week moving average, positive RSI signals (above its own average) and bullish DMI signals.Price action had just tested those indicators and rejected a potential change to bearish with the subsequent strong renewal of buying again testing... read more

....Last week's strong decline in CADJPY , and bearish RSI crossover, has confirmed a renewed negative tone for sentiment.The key 21 week moving average was broken on the downside in July 2015. This negative move confirmed the previous week’s ‘dead’ cross in RSI indicators. Price action has been capped by the 21 week moving average since that... read more

...Renewal of selling pressure has scope to take EURCAD to retest April lows.After EURCAD topped out in January, the following month saw a break of the RSI below it's moving average, then a move below the mid-point of the weekly Keltner channel and finally losses through the 21 week moving average. RSI signals have been negative since and although April... read more

AUDNZD .... Trading was volatile in  AUDNZD last week with initial upside of over a big figure aggressively reversed with prices falling more than 300-pips from the high. But the latest fall emphasises a negative trend that has been clear since the end of April, but has accelerated over the last 2 weeks - now tracking the lower end... read more