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.
The dollar/yen chart points to a successful rally towards 84-87 with a breakout above 80 in the short-term.
The Shanghai Composite Index made a new low near 1,999 on September 26 and then developed a good rally rebound. There is a high probability the rally will continue after the Golden week holiday that ends Friday.
Expectations of change or decisive action to deal with growing euro zone debt problems result in short-lived rallies for the single currency followed by a resumption of the long-term downtrend.
The Japanese central bank’s defense of dollar/yen at 76 as a support level has been successful. Upside resistance is created by two features.
The trend is bullish despite a pause for the Shanghai Composite index, technical analyst Daryl Guppy says.
There's no question that the Aussie strength is a direct consequence of weakness in the U.S. dollar, Daryl Guppy writes.
The U.S. dollar index is testing a critical support level of a long-running trading band that is likely to hold for now.
The Shanghai index is developing some of the characteristics of a trend reversal, Daryl Guppy writes.