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.
The yen is hovering at an eight-week high against the dollar, and trading at its strongest level against the euro since 2001. But a look at the performance charts suggest it may be time to pick up the dollar-yen trade, which is showing a very strong support level between 87 and 88 yen.
China's stock markets are known for their volatility and not for the faint-hearted investors. Their movements can be rapid in either direction and hard to predict. But a close study of their performance charts have revealed some trading opportunities and the likelihood of a strong recovery.
Oil prices are expected to continue their uptrend quicker than they did in the past 12 months, according to technically analysis. Prices will likely test historical resistance, and $100 may be achievable.
It's just a few weeks since my last note on the euro-dollar but I think an update is appropriate given the continued battering of the single currency.
When the Australian dollar stumbles, it often stumbles badly. This makes the AUD/US a difficult trading situation because when a collapse occurs, the AUD tumbles quickly. Investors hoping for a rebound of the Australian dollar to beyond the $0.90 level may be disappointed. Chart analysis shows this is unlikely to happen for awhile.
Chart Analysis suggests the euro-dollar will be trapped in the $1.19-$1.25 consolidation range, but will fall "rapidly" to $1.03 when the $1.19 level is breached, according to Daryl Guppy, trader and author of Trend Trading.
Australia's 40 percent resource “super profits” tax fired at miners on Sunday has given the new meaning to to the word 'walloped', which is is a good old Australian word defining a cowardly attack or beating. According to chart analysis, Rio Tinto stock which took a beating in recent weeks shows the announcement was not all that unexpected.
Markets are expecting blockbuster earnings from Samsung Electronics, which on Friday is expected to post first-quarter profit that increased seven-fold on robust demand for personal computers and TVs. However, traders hoping to profit from post-results movements on its stock price may be disappointed.
When the bears are right, it could sometimes mean a great opportunity for the bulls. This seems to be the case for Goldman bulls, at least according to technical analysis.
The market will again pause and consolidate around this level for several weeks before continuing the uptrend breakout, says Daryl Guppy.
The long and steady decline in the Australian dollar from $0.93 to $0.69 has paused and developed a significant reversal pattern.
Similarities in the patterns on the gold and silver charts mean the silver price follows the behavior of the gold price, says Daryl Guppy.
The dollar remained relatively calm while investors rushed into the safety of gold after British voters' decision to leave the EU.
Daryl Guppy is an independent technical analyst who appears frequently on CNBC Asia.