South Winds, Red Skies & Clouds in the West

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AUDJPY transitioned to an overall bearish sentiment on October 25th, but this is now essentially neutral, and the "controlling" trend has been bullish ever since October 31st (and currently remains so).

AUDUSD is in pretty much the same situation as AUDJPY.

GBPJPY was overall bullish until the release of the BOE bank rate a few hours ago. Nonetheless, I plan to enter a long position as soon as the "controlling" trend turns bullish once again.

GBPUSD the overall trend has been somewhat undecided as of late, but with the plunge following the release of the BOE bank rate I plan to enter a long position as soon as the "controlling" trend turns bullish.

EURJPY overall trend has been bearish ever since October 26th, but the "controlling" trend turned bullish on October 31st and remains so.

EURGBP is overall bearish but the "controlling" trend turned bullish on November 1st. Nonetheless, with the spike that followed the release of economic data today, I will be looking to short the pair as soon as the "controlling" trend reverses to the south.

EURUSD turned bearish overall on October 26th, but the bullish and bearish forces have been fighting for control of the intraday trend for the last five days, with the "controlling" trend being bullish at this time.

USDCAD is bullish overall, but the "controlling" trend is currently bearish. I would like to enter a long position as soon as it turns north.

USDCHF is also bullish overall but the "controlling" trend turned bearish during the present 24-hour trading cycle. I plan to enter a long position once it turns bullish.

USDJPY is relatively neutral, though technically, the "controlling" trend is currently bearish.

 

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AUDJPY was formerly climbing overall from month-to-month, but completely lost that momentum and transitioned to a bearish sentiment. It tried to go bullish, but failed when price plunged back below 87.90 on Friday. All indications at present are that price will continue to fall.

AUDUSD is pretty much in the same situation as AUDJPY except that the short-term intraday trend is currently bullish, so the moment it turns south would likely be a great time to go short.

GBPJPY’s nine-day northbound trajectory turned south on Friday thanks to the plunge. (Recall that I wrote that it had reached the upper regions of its overall price range and could therefore be expected to experience increasing pressure attempting to pull it back down.) At 149.01, the intermediate trend is bullish. Since the short-term intraday trend is currently bearish, as soon as it turns north to join the intermediate trend, it might offer an ideal opportunity to go long—even though the longer-term trend is headed south.

GBPUSD is pretty much the same as GBPJPY except that the short-term intraday trend is already headed north.

EURJPY has had an overall bullish sentiment from a month-to-month perspective ever since March of this year. Nonetheless, its day-to-day bullish bias turned bearish yet again about halfway through Friday’s 24-hour trading cycle.

EURGBP’s day-to-day trend turned neutral when price crossed above 0.8830, and the intermediate trend turned bearish (following Thursday’s spike) when price fell below 0.8909.

EURUSD has been straight up bullish ever since March of last year, but as of the week before last, this was no longer the case, even though, technically speaking, the bullish sentiment remained. The intermittent tumbling that began in September attempted a comeback at least three times in October, but ultimately failed on the 26th. I’m waiting for a reversal upward in the short-term intraday trend so that I can enter a short position as soon as price hooks south again.

USDCAD’s intermediate trend turned bearish the first day of November, and the day-to-day trend ALSO turned bearish toward the end of trading on Friday.

USDCHF’s overall tumble that began in March appeared to have officially ended back in September. I previously wrote that every pullback was probably a buying opportunity, and that appears to still be the case.

USDJPY has been essentially neutral almost this entire year. At 114.01, I am waiting for a turn north in the short-term intraday trend to enter a long position.

 

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GBPJPY’s nine-day northbound trajectory turned south on Friday thanks to the plunge. (Recall that I wrote that it had reached the upper regions of its overall price range and could therefore be expected to experience increasing pressure attempting to pull it back down.) At 149.01, the intermediate trend is bullish. Since the short-term intraday trend is currently bearish, as soon as it turns north to join the intermediate trend, it might offer an ideal opportunity to go long—even though the longer-term trend is headed south.

Technically GBPJPY is in a slightly bearish state until and unless it climbs above 149.93, so be careful about entering long positions. 149.01 could be a momentary setback in an otherwise northbound voyage, but if price drops much lower, it is more likely a full-fledged reversal to the south.

 

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GBPUSD is pretty much the same as GBPJPY except that the short-term intraday trend is already headed north.

The above observations notwithstanding, it is important to note that the last two 24-hour trading cycles have put GBPUSD's week-to-week price action in a bearish light. If a climb to the north does take place, it might merely be temporary. To resume a full-on bearish sentiment, price must climb back above 1.3191.

 

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EURGBP’s day-to-day trend turned neutral when price crossed above 0.8830, and the intermediate trend turned bearish (following Thursday’s spike) when price fell below 0.8909.

From a week-to-week perspective however, EURGBP appears to have had its fill of heading south (from October 20th to 31st) and at 0.8873, is struggling to establish a full-fledged reversal to the north, which it will succeed in doing if it climbs any higher.

 

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EURUSD has been straight up bullish ever since March of last year...

I’m not sure what I was talking about here. I just took a look at EURUSD using my week-to-week vantage point, and from that perspective, the pair was bearish from March 2016 to March 2017, then bullish from March 2017 to September 15th, and bearish ever since then.

 

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USDCAD’s intermediate trend turned bearish the first day of November, and the day-to-day trend ALSO turned bearish toward the end of trading on Friday.

However, the week-to-week trend is still very much bullish.

 

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USDJPY has been essentially neutral almost this entire year. At 114.01, I am waiting for a turn north in the short-term intraday trend to enter a long position.

It is worth noting that on a longer-term basis, the pair looks more inclined to head north than south, given that the weekly trajectory has been bullish ever since September 11, 2017 and remains so.

 

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USDJPY has been essentially neutral almost this entire year. At 114.01, I am waiting for a turn north in the short-term intraday trend to enter a long position.

Got it...

 

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USDCHF’s overall tumble that began in March appeared to have officially ended back in September. I previously wrote that every pullback was probably a buying opportunity, and that appears to still be the case.