USD/JPY Archives Scandinavian Capital Markets

Market Update: October 8

ByJamie Saettele October 9, 2020

It’s awfully quiet out there. EURUSD is on pace for its smallest weekly range since 2/21, which of course is right before volatility exploded. Hopefully we get something similar now. My view on EURUSD hasn’t changed. Price continues to churn just under important resistance (neckline and VWAP). I’m presenting a new fork today. Notice how highs and lows since over the last month have been on/near the 25 and 75 lines within this structure. I ‘favor’ EURUSD holding below this resistance.

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How Donald Trump’s COVID-19 Diagnosis Affects Market Sentiment

ByScandinavian Capital Markets October 8, 2020

The initial announcement of Trump’s COVID-19 diagnosis caused a knee jerk reaction in the stock market. Is there more volatility to come?

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Market Update: September 30

ByJamie Saettele September 30, 2020

Gold traded into proposed resistance at 1908 today and immediately pulled back. I am of the view that price resumes lower from the current level towards the lower parallel near 1750. Failure to stay below today’s low would risk strength into the upper parallel of the bearish channel near 1940.

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Market Update – September 16

ByJamie Saettele September 16, 2020

USDSEK dipped to 8.6844 on on 9/10 before turning up. I’m viewing that low as a ‘higher low’ within the bullish cycle from the 9/1 low. Price closed slightly above channel resistance from the March high today. Strength above 8.8050 would complete a head and shoulders bottom and set an objective at 9.0150.

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Market Update – September 15

ByJamie Saettele September 15, 2020

WYCKOFF DISTRIBUTION SCHEMATIC The last 2 trading days have been awfully quiet so now is a good time for some educational yet applicable content. I have copies of Wyckoff schematics hanging on the wall in my office. Google Richard Wyckoff if you are not familiar with his work. I was looking at the distribution schematic…

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Market Update – August 26

ByJamie Saettele August 26, 2020

These 3 charts are from Nordea’s latest FX Weekly. The relationships between the Fed’s balance sheet / USD, Trump’s job approval / USD, and EURUSD / US-Europe Covid case count spread all point to a stronger USD from current levels.

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Market Update – July 28

ByJamie Saettele July 28, 2020

So much for ‘extreme sentiment’ towards the USD. DXY dropped for a 7th straight day today. Price is now testing the trendline from the 2011 low. The lower parallel from the channel off of the March high is slightly lower…about 93.15 (see below). At this point, I’m not sure where the next level of interest is if DXY fails to hold.

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Market Update – July 21

ByJamie Saettele July 21, 2020

I’m not sure what to say anymore when it comes to indices. NYSE breadth, for example, was negative today (more stocks down than up) but both the S&P 500 and Nasdaq were up. The Nasdaq was up A LOT thanks to MSFT and AMZN.

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Market Update – Finally a USD Turn?!

ByJamie Saettele July 16, 2020

The ‘about face’ in USD action today strongly suggests that we’re on the right track insofar as being near term USD bulls. Regarding EURUSD specifically, the 5 wave rally from the 4/24 low is ‘textbook’ so expectations are for at least a corrective pullback. The year open at 1.1260 along with parallels just below are likely initial support for a bounce.