Month: August 2021

Scandinavian Capital Markets

Market Update 8/30 – USD into Support

USDOLLAR is testing proposed support at 11950. Pretty simple here…price needs to hold this level in order to remain constructive and trade the USD from the long side. A break here would indicate an important behavior change and suggest that a deeper drop is underway…possibly towards 11800 or so.

Scandinavian Capital Markets

Market Update 8/25 – Fade the USD Drop Soon?

Today’s update is brief as markets await Jackson Hole. The USD drop off of the high (squeeze off of the low in most everything else) is nearing support. I’m looking to buy the USD dip slightly lower. Notably, EURUSD 1.1800 is the 50 day average and 8/13 high. Bears need to step up there in order to keep 1.1600 on track.

Scandinavian Capital Markets

Market Update 8/24 – USDCAD Support?

USDCAD is into former resistance at 1.2590. The line that crosses lows since 7/30 is about 1.2575. If a bounce were to materialize from the current level then the 61.8% retrace of the decline would be 1.2807…the exact same level as the 7/19 high. Bottom line, I’m looking for a bounce now.

Scandinavian Capital Markets

Market Update 8/23 – Possible Equity Index Top Levels

SPY made a volume reversal last week. The red and blue bars on the chart indicate volume reversals at at least 5 year highs/lows. The signal is rare. Proposed resistance levels for ES and NQ futures (see next 2 charts) are about 4500 and 15460.

Scandinavian Capital Markets

Market Update 8/18 – A BIG GBPJPY Setup

GBPJPY did indeed roll over from the 50 day average and price is testing the well-defined trendline from the March 2020 low. A massive head and shoulders pattern is evident and the target on a break would be near 140. Watch for resistance near 151.80 (see 4 hour chart below).

Scandinavian Capital Markets

Market Update 8/17 – USD Breakout?

The USDOLLAR pullback bottomed at 11911…just above 11900. Is this a massive breakout? It is until it isn’t (then it would be a failed breakout). Risk is higher until noted otherwise with focus on 12129/60.

Scandinavian Capital Markets

How Family Offices can Benefit from Better Forex Solutions

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Scandinavian Capital Markets

Market Update 8/16 – Gold and Silver Near Resistance

Gold is nearing the upper end of the cited range for resistance. The level is defined by support/resistance since April and the 200 period average on the 4 hour chart. I’m on reversal watch in gold.

Scandinavian Capital Markets

Scandinavian Capital Markets Review on Forex Rank

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Scandinavian Capital Markets

Introducing FXCopy

Scandinavian Capital Markets introduces its proprietary forex investment platform, FXCopy.