Daryl Guppy is an independent technical analyst who appears frequently on CNBC Asia. He runs training, analysis and resource workshops for retail and professional financial market traders involved in stocks, CFDs, warrants, derivatives, futures and commodities in China, Malaysia, Singapore and Australia. He has his own trading company, guppytraders.com. He is a special consultant to AxiCorp.
Chart patterns suggest that dollar/yen has a high probability of retesting the lower edge of the trading channel near 95.
The Dow retreat was large, but not unexpected. The retreat presented a buying opportunity, but not for a long-term uptrend continuation.
The euro/yen chart has multiple features which suggest a downside target near 107.
An opportunity can be found in every market, not just in the markets your look at regularly. This is one of them.
The Dow chart has two significant chart patterns and they combine to limit the Dow rally in the short-term.
The Dow Jones industrial average's breakout above 18,300 is significant, but it is also weak.
The long and steady decline in the Australian dollar from $0.93 to $0.69 has paused and developed a significant reversal pattern.
The Shanghai Index consolidation retest of the uptrend was stronger than expected.
The media is awash with claims that the S&P is in danger of imminent collapse.
U.S. crude seems to be going nowhere but the weekly New York mercantile Exchange l chart for WTI tells a different story.
The euro/yen is taking a graceful swan dive following weeks of consolidation.