Second Skies

AUDUSDYep, another day on the Aussie which happens to be one of my favorite pairs to trade daily. Yesterday I talked about how the impulsive price action selling on the pair, combined with a bearish...

AUDUSDSticking with the Aussie today, which I’ve been bearish on since Sunday – the pair sold off yesterday and formed a bottom off 1.0496 via an intraday pin bar setup. But notice how the...

NZD/USD After forming a virtual maribozu on Monday, the kiwi formed an inverted pin bar which pulled handsomely back to the daily 20ema, rejected and closed just off the lows. The interesting thing...

EURUSDAfter forming a corrective pullback last week comprised of an outside bar, a double pin bar and an inside bar, the euro resumed its natural selling posture and rightfully so considering what is...

EUR/USDAfter starting the week under pressure from the Spanish regions requesting aid, the euro found short-term support – perhaps from the short sales ban in Italy and Spain. Although this tool...

EUR/USDAfter starting last week with a daily Tenkan-Kijun cross last week, the pair formed a bullish outside bar after a one section and one day move (using Ichimoku number theory) which we had talked...

EUR/USDAfter rejecting off the lows on Friday forming an intraday pin bar setup, the euro has built up small gains, but has done so via corrective price action, telling us the buyers are not coming in...

EURUSDGaining for the last 3 out of 4 weeks, the EURUSD was bolstered by the EU summit as Germany and Frau Merkel caved for now on the ESM support mechanism. This lifted risk on, along with the Euro...

AUD/USDAfter bouncing and continuing higher from the pin bar we mentioned yesterday, the 1hr chart on the aussie looks like the bulls are squeezing out the bears trying to take out the short-term...

NZD/USDAfter forming an inverted pin bar on approach to .8000 Friday, the kiwi followed with a large bearish engulfing bar giving a kiss off the round number, then selling off over 140pips for 8hrs...

AUD/USDAs we mentioned in our weekly forex market commentary, the key area to watch for the aussie on the upside was the 1.0220/30 area and this held the upside of today’s wild ride of price...

GBP/JPYThe beast (otherwise known as the GBP/JPY pair) has gained 10 out of the last 12 days communicating the bounce off the lows has some decent buying behind it. What is interesting to me from an...

GoldAfter gapping down to open the week on the pro-bailout Greek election result, the shiny metal recovered nicely as everyone realized two key things:1) There may be another Greek election in August...

Although the Greek election has resulted in a pro-Europe/austerity party victory (and consequently EUR/USD bullish), we remain being overly bullish for three reasons:1) Spain is still a major thorn...

Instead of writing my usual post about trade setups, I thought I’d write something different for two reasons:1) I really didn’t like anything going into the Friday before the Greek...

EUR/JPYThe EUR/JPY formed a potential pin bar reversal setup two days back and has been struggling to make new gains into the upper regions of the rejection failing twice to breach the dynamic...