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  • Time-cycle analysis suggests that the Japanese Yen could slide significantly lower against its major counterparts. Key levels for AUD/JPY, EUR/JPY and GBP/JPY. Get your market update from @DanielGMoss here:https://t.co/WPq4Z9zzEw https://t.co/VzVLrBbL9q
  • The Australian Dollar looks poised to outperform the haven-associated US Dollar and Japanese Yen. However, it may lose ground to the New Zealand Dollar. Key levels for AUD/USD, AUD/JPY and AUD/NZD. Get your market update from @DanielGMoss here:https://t.co/cuxRxl5WaF https://t.co/pujrmqSxV7
  • Has anyone explained the risk of inflation on the markets in terms of tendies?
  • The US Dollar is trying to break higher versus ASEAN currencies. The Singapore Dollar, Philippine Peso, Thai Baht and Indonesian Rupiah are under pressure. Will follow-through last? Get your market update from @ddubrovskyFX here:https://t.co/JOWG9q01q0 https://t.co/j2ICxgrLa3
  • The commodity-sensitive Canadian Dollar may continue outperforming its major counterparts in the coming weeks. USD/CAD, CAD/CHF, CAD/JPY and EUR/CAD key levels to watch. Get your $USDCAD market update from @DanielGMoss here:https://t.co/9bkVXQuP5C https://t.co/cLNEG36mZ8
  • We just closed out the heaviest week of volume for the $SPY (US equities) since June and $TLT (Treasuries) since March 16
  • Get your snapshot update of the of market open and closing times for each major trading hub around the globe here: https://t.co/BgZLFljIhZ https://t.co/YjUfOUY3vU
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.30% 🇨🇭CHF: -0.41% 🇬🇧GBP: -0.62% 🇨🇦CAD: -1.12% 🇳🇿NZD: -1.87% 🇦🇺AUD: -2.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ZdHY0q1ocW
  • #Gold Price Forecast: Gold Breakdown Accelerates – $XAUUSD Bulls Done? - https://t.co/uATlmZg8g6 https://t.co/vIbhg5HOko
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.20% Gold: -2.10% Silver: -2.97% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/UVS4Dowq2o
Jamie's Pick: 05/23/12

Jamie's Pick: 05/23/12

Jamie Saettele, CMT, Sr. Technical Strategist

This morning’s action may compose the ‘flush’ before a larger correction takes hold. There are no setups to short the USD here with a sensible stop. Sure, the USD may extend a bit beyond current levels but reward/risk on USD longs is no longer favorable (except maybe against the Yen). HUGE levels have given way, most notably the January low at 12623 in the EURUSD. In my experience, the breech of such levels tends to give way to consolidation / corrective action BEFORE the next larger move. Make no mistake, the larger trend is towards USD strength but don’t get caught long USD at bad prices.

I’ll look to identify USD support as corrections unfold in real time but levels to keep in mind are 15890 in GBPUSD, 12870-12900 in EURUSD, 9970-10020 in AUDUSD, 7760 in NZDUSD, and 10060 in USDCAD.

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