• Home
  • Prop trading & Education
  • Disclaimer
  • Fxigor Twitter

FxIgor Trading Team

Forex technical analysis and best broker reviews and news.

Make the trade

Key bearish reversal days in forex market

December 14, 2012 by FxIgor

This text is from blog famous currency strategist Joel Kruger .
SHIFTING LANDSCAPE – A closer look at the global macro technical picture shows the markets on the verge of some major reversals in the days ahead. A dojiesque close in EUR/USD on Thursday, along with a near bearish gravestone doji in NZD/USD, and key bearish reversal days in AUD/USD and GBP/USD, all point to near-term exhaustion and a broad based resumption of US Dollar buying. Global equities are also looking rather vulnerable, and it looks as though risk appetite could wane dramatically in the final days of 2012.
See daily forex tecnical analysis video:

CAPITULATION TEASE – Technically, we really should see this reversal start to show follow through on Friday, although it is worth noting that markets on the verge of major reversals are sometimes prone to capitulation trade, resulting in one final surge before finally relenting. Elsewhere, the Yen remains under extreme pressure, and it is becoming harder and harder to find anyone interested in buying the Japanese currency. It is actually surprising to see the currency hold up so well (i.e. not fall off a cliff) with really no technical or fundamental justification to be long Yen. Look for USD/JPY to establish fresh yearly highs beyond 84.20 over the coming sessions, before potentially entering a period of short-term consolidation.

CONTRARIAN’S DREAM
– Perhaps if you do think the Yen is oversold and due for a correction, the best play would be through the Yen crosses. One Yen cross that is screaming correction right now is NZD/JPY. Contrarian traders should be salivating over this one, with the daily RSI recently crossing 85! While the medium and longer-term picture might favor additional upside, in the short-term, any additional rallies should be well capped below 71.50 on a daily close basis ahead of pullback into some previous resistance around 68.00. My contention is that USD/JPY will soon start to consolidate, while NZD/USD will reverse sharply to the downside. Have a great weekend!

Related posts:

  1. EUR and AUD overbought and ready for forex bearish reversal day
  2. EUR bounce in sight – forex market goes in short term USD bearish period
  3. US Dollar strength over the coming days weeks and months
  4. Forex market volatility expected to pick up
  5. Forex market is currently locked in a bout of shorter-term consolidation
  6. Should we see another EUR topside failure on Friday in forex market?
  7. Prepeare to sell EURUSD soon and buy USDCAD at forex market
  8. Still Bearish Risk Correlated Assets – wait USD strong signal

Filed Under: Joel Kruger oppinion

About FxIgor

I am forex trader from 2009. and I am making autotrading systems using Metatrader EA. In this blog I will share my thoughts about daily forex traders, market forexcast, top forex brokers.

LMFX PAMM

Search all forex articles

Categories

  • Binary options
    • Anyoption Review
    • Ubinary Review
  • Forex
    • Forex affiliate programs
      • Avapartner
      • Hotforex partner
    • Forex brokers reviews
      • 4XP broker Review
      • AAAfx Zulutrade Review
      • Alpari NZ Limited Review
      • Alpari UK Review
      • Avatrade Review
      • CMTrading Broker Review
      • Deltastock Forex Broker Review
      • Dukascopy forex broker
      • Dukascopy Fx Review
      • EasyMarkets review
      • ETX Capital
      • ETX Capital review
      • Exness Review
      • EXT Review
      • Forex.com
      • Forex4you Review
      • ForexYard Review
      • FXCM
      • FXDD Review
      • FXOpen Broker
      • Fxpro
      • Hotforex Review
      • HY Markets Review
      • iforex Review
      • Instaforex Review
      • Ironfx Review
      • Liteforex
      • London Capital Group
      • Marketiva forex broker
      • Markets.com
      • Nordfx
      • Pepperstone Review
      • Plus500
      • Roboforex
      • Swissquote Bank
      • UFX Markets
      • Windsor brokers
      • XeMarkets
      • Xtrade
    • Forex market review
      • Joel Kruger oppinion
  • Forex education
    • Forex indicators
    • Learn forex terms
    • Statistical arbitrage
    • Tips
  • Forex Expert Advisor
  • Forex payment method
    • Skrill
  • Promotions
  • Stocks
    • Equities of interest

Latest top forex brokers review

  • Alpari NZ Review
  • Avatrade Review
  • Alpari UK Review
  • Etoro Review
  • Fxopen Review
  • Aaafx Zulutrade Review
  • Hotforex Review
  • Fxpro Review
  • Instaforex Review
  • Xemarkets review
  • Markets.com review
  • Thinkforex Review
  • Ufxmarkets Review

Main forex sections

  • Home

Forex traders tools

  • Forex contests list

Forex Social network

  • Forex Twitter
Fxigor Copyright - 2010