FX: many pairs at major S/R levels.

Last week: There were a number of trend line breakouts last week but the moves were choppy. Whilst last week’s FOMC and / or this weekend’s German Election may be feeding into this uncertainty I also note many FX pairs are at MAJOR monthly-chart based S/R levels. These strongly respected Support and Resistance levels may continue to play havoc with the charts until they are either decisively respected or rejected.

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FX themes: FOMC and mean reversion.

Last week: There were some big moves with GBP pairs last week and this has helped to develop the mean reversion profile across some FX charts; a phenomenon I have been monitoring for many weeks now. This movement helped to trigger a number of great trend line breakout trades and decent TC signals as well. There is FOMC in the coming week and so I’ll be watching to see how this impacts the mean reversion trends in play and, also, to see if it triggers any new trend line breakout trades.

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FX: Spring seems to have sprung!

Last week: After a couple of tough weeks for trend trading Spring certainly seems to have sprung! There were some great trend line breakouts trades and TC signals and I am hoping, that with the norther Summer behind us, there will be more of this to come! The weekly charts of many instruments look have me thinking that the mean reversion, I’ve long waxed on about, might be starting to gear up.

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FX: New season…new trends?

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NFP week.

Last week: Last week was one of the choppiest weeks for FX that I can recall. There were only a few trend line breakout trades before the Jackson Hole Symposium started on Friday but then five new breakouts triggered after ECB President Draghi’s speech. For me, the US$ still needs to make a decisive breakout from its current trading zone, either up or down, before decent trending FX markets will return.

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