Archive for May, 2013

Aussie Remains Down Under

by Christopher Lemieuxon May 28, 2013 3:08 am GMT
The Australian dollar is slightly lower in thin post-Memorial Day trading, but the question is whether it will remain down under. In previous analysis, I discussed the reasons why the Aussie dollar would continue to fall, and it was largely due to overvaluation based on a carry trade thesis as it ignored warning signs in […]

Is The USDJPY Sell In May And Go Away?

by Christopher Lemieuxon May 26, 2013 10:45 am GMT
Last week, the news of potential U.S. Fed tapering during Fed Chair Ben Bernanke’s comments did not go over well with the markets. The Nikkei would slide over 10 percent, from 15975 to close at 14325. The yen was not avoided and was driven by the implied tapering – as if the market thought the […]

Currency Report: Wednesday, May 22

by Christopher Lemieuxon May 22, 2013 11:11 am GMT
Currency Report: Tuesday, May 22 EURUSD: The EURUSD was able to find support after moving through 1.29 and reaching a high of 1.29555. Price action was able to cross through the 50 EMA on the 4H and has held as support. On the daily chart, the 23.6 percent Fibonnaci level was successfully supported after repeated failures […]

Head and Shoulders: Will EURUSD drop to it’s knees and toes?

by Christopher Lemieuxon May 21, 2013 1:29 pm GMT
In today’s currency report, the downside, intraday target on EURUSD accurate hit 1.284 and bounced off to an intraday high of 1.2875. Nevertheless, the infamous head and shoulders pattern (asymmetrical) is clearly visible on the daily and weekly charts with the price action teetering on the neckline to complete the second “shoulder.” It is important […]