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I am no longer a sponsor here so I am not going to post links here anymore. Instead, here is a chart of Aussie with my weekly comments for the week of Dec 2 - Dec 6, 2013. Recap As expected, Aussie dropped below B-1. Since then it has consolidated around 50% previous week range. Closed the week below Y-1 and midpoint. Outlook Until Aussie can stage a strong reversal rally back above B+1, it is likely to continue its down trend. Mentioned in MBO newsletter the condition for gold to go higher. Once gold has its down trend broken, Aussie can rally back up higher.
(repost from my site) USDCAD comments for the week of 2013 Dec 9 to 13 Recap Went higher and tagged 1.07 round number and stalled. Consolidation since. Closed the week near Y+1 and below midpoint. Outlook Similar to Aussie, affected by goldâs multiple attempts to find a bottom, Loonie not stable at the current level. B-1 must hold for the pair to go higher. Once B-1 is breached, B-2 and below will be in play. That is likely to be triggered by a rally in gold.
(repost from my site) USDJPY comments for the week of 2013 Dec 16 to 20 Recap First test of Y+1 held ninja back. Y-0 acted as support on pullback. 2nd try at Y+1 cleared the resistance. Strong reaction right below 104 sending ninja back down to week mid. Closed the week below Y+1 and above midpoint. Outlook As mentioned last week BOJ and Japanese government would do something to disrupt the rally. As long as Y+1 not breached on 4 hour, we have to assume FBO against Y+1 is in place with Y-1 as target. Japanese takes end of year holidays very seriously. Major slow down in price movement is expected until after the first week of next year.
(repost from my site) EURUSD comments for the week of 2013 Dec 23 to 27 Recap Expectation of euro going lower paid off. FOMC announcement failed to swing euro above Y+1 and gave us the Y-2 target. Closed the week below Y-1 and midpoint. Outlook As long as B-0 acting as resistance, euro should consolidate with downside bias towards B-2.
(repost from my site) GBPUSD comments for the week of 2013 Dec 30 to 2014 Jan 3 Recap Another pair that started out with a quiet week led to an explosive upside stop run. Closed the week near Y+1 and above midpoint. Outlook 2nd time spike higher trying to clear the 1.65 area yet failed to close above the resistance level at Y+1 / 1.65. The intention is not clear at this point due to low volume. Next week is still part of the holiday season making it not a good time to trade aggressively.
(repost from my site) AUDUSD comments for the week of 2014 Jan 6 to 10 Recap Lower open did not breach the breakout boundary. Yet first try to go higher stalled below Y+1. Successfully defended defended week low leading to upside breakout to Y+2. Closed the week above Y-0 and midpoint. Outlook Outside week and breached the breakout boundary yet failed to close above Y+1. Typical low volume envrironment with false breakout everywhere. Need Aussie to find support at Y-0 and start going higher to confirm the upside breakout. Upside target B+2.