Second Skies

EUR/USD As discussed in yesterday’s market commentary, the engulfing bar + pin bar combo did produce higher prices for the euro, and went to the first resistance level I mentioned yesterday...

EUR/USDThe euro sold off back to back weeks for only the second time since September. The pair was holding fine till the surprised NFP number which beat expectations by more than 1 sigma. Now the pair...

Silver With most US exchanges closed for Hurricane Sandy, liquidity and volumes were definitely lower today with most pairs and instruments playing in a tight range today. Silver has now formed back...

Dow Jones With Skynet offline yesterday since US equity markets and exchanges were closed (due to hurricane Sandy), a key support level in 13000 is coming under pressure for the Dow Jones Index....

EUR/USD Staying put inside a channel/triangle, the Euro continues to oscillate virtually on a weekly basis since early Sept. Since we are still midway through the triangle, I expect it to continue as...

Silver As noted two days ago, Silver was showing reducing price action spreads which suggested to me it was bottoming out around $31.50. That is exactly what happened, and has now broken above the...

Gold Getting hammered every which way but loose, gold continues its sell-off and is now barely holding above the $1700 figure. I am noticing how the buybacks have been getting shorter and weaker in...

Silver After failing to break and hold above $35, Silver has been getting hammered as of late, dropping $3.50 in the last 2.5 weeks. I would like to note how the price spreads have been getting...

Dow Jones After ending last Friday with its largest one day loss in over 4+months, the Dow Jones formed a large bullish pin bar, and a fake out in the process. This could very well have trapped...

EUR/USD Starting last week strong, but fading to end the week, the euro rejected just shy of the resistance level I discussed last week, topping out at 1.3141. For the month of October, it has built...

Gold Losing its luster as of late, on an announcement the South African mine is still having labor negotiation problems, gold strangely sells off when production will be halted further. On Monday it...

Gold After two false breaks of the $1790, both of which have led to HL’s (higher lows), Gold seems to be forming a price action squeeze, along with a 20ema carry on the 4hr time frame. ...

AUD/USD Following the 25bp cut by the RBA yesterday, the Aussie has been feeling it, losing about 100pips on an open to close basis. In the process, the pair formed a daily kumo break setup closing...

EUR/USD Repeating a pattern for the last 10 days, every time the Euro has posted a bull day, it’s followed with a down day and last week was no exception. After forming a combo pin bar +...

Gold After forming a pin bar rejection off the dynamic support and 20ema last week, the precious metal has made a few attacks on the yearly highs and key resistance at $1790. Today the metal posted an...

USDINXAs I wrote about two days ago, the USDINX was in a corrective pullback phase, and one should not expect USD strength to continue. On the next day, the EU, GU, AU and NU all closed higher and...