Commentary

Last week saw investor demand for EURCHF continue the rise from last year's low point. But the key element was that buying interest accelerated - creating a 4th up week in a row  and, more importantly, breaking above the 21 week moving average.That positive break confirms the 'golden' cross already provided in the EURCHF RSI signals... read more

Last week's investor demand yielded a 4th positive weekly performance from the last 5. Importantly, the move took NZDUSD to the most positive levels traded for 14 weeks, breaking above the trend defining 21 week moving average.This confirms a similar bullish cross in the NZDUSD RSI indicator that occurred 3 weeks previously.A change to a bullish... read more

In the middle of February, buying if USDINR created a positive crossover of the 21 week mvg avg. This move confirmed a marginally earlier ‘golden’ cross in our RSI signals.Overall that bullish signal has been intact since with USDINR climbing by 9.50 or 14.75%, despite some profit taking during May and July- August. But you can... read more

Updated 29th October.Contrary to the bullish signals generated 2 weeks ago, investor demand for GBPCAD could not be maintained. Instead selling interest was renewed  with last week's decline being the most negative GBPCAD performance since April. This is enough to reassert a Bearish bias with initial targets of 1.6574 and 1.6467.Last week saw solid gains in... read more

Overnight news from the RBNZ has hit the Kiwi. Actually it has only emphasised a weakness that was already there as we can see with a look at 2 of the currency pairs in our Trend Table.Our medium term bias for NZDUSD has been negative since April when a 'dead' cross in the spot  through the 21... read more