USD/JPY:The market has managed to successfully hold above the bottom of the daily Ichimoku cloud to further strengthen our constructive outlook and we look for the formation of a inter-day higher low by 76.55 ahead of the next major upside extension back towards and eventually through the recent multi-day highs by 79.55. Ultimately, only a close back below the bottom of the Ichimoku cloud would negate outlook and give reason for pause, while a daily close back above 78.30 accelerates.

To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to This e-mail address is being protected from spambots. You n

Read more…

Driven in part by the explosion of vibrant social-networking media, the crowdfunding sensation now stretches to the far reaches of the globe.

Read more…

EUR/USD: Daily

A few days ago, Forex Gump asked “Will EUR/USD Test its 2011 Low?” and the answer seems to be a resounding “Heck yeah!” as of the moment. With the pair inching closer and closer to the 1.2875 area, the next question is: Will we see a bounce or a break? Stochastic is already in the oversold region, suggesting that euro bears are getting exhausted. However, the oscillator hasn’t crossed just yet, which means that there could still be enough selling pressure left. Whether you’re going for a bounce or waiting for a break, make sure to set those stops properly!

GBP/JPY: 4-hour

As I have mentioned in a previous post, GBP/JPY has been trading within a relatively tight falling channel.

Read more…

Fundamental Headlines

European Session Summary

The U.S. Dollar’s remarkable run the past few days seems to have taken a breather on Wednesday. As the worst performing currency ahead of the North American trading session, this appears to be little more than a corrective move after gaining over 2 percent collectively across the board from Friday through Tuesday. Like the recent trend that has developed, the ‘dead’ trading period in between the Asian and European sessions produced another turn around in the majors.

< Read more…