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EURo Nearing Cluster of Previous Resistance Levels

The Euro is slowly becoming overbought. Look at the weekly chart below. We are already trading past the 80 level on the Stochastic Oscillator, a level which signifies an overbought market condition. But that on it's own shouldn't be traded upon.
Exhibit number two is the second picture below. We are nearing a cluster of previous resistance levels, starting from this month's high at 1.1268 to the 1.1302 spike on Trump election day. Higher up more levels can be found at 1.1370, 1.1428 and of cours…
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Singapore Dollar Near Long-Term Average

The Singapore Dollar is trading near its long-term moving average. On the chart below we can see two things, a Fibonacci retracement tool spanning the most recent swing high and low on the daily chart and a 365 period moving average.
The Fibonacci tool shows us that we're currently trading in between the 50 and 61% retracement, very close to the middle ground of the move during the past 12 months. Two, the 365 MA (in blue) is right now at 1.3858, only 26 pips away from the current price for USD/…
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Gains in EUR/GBP Likely Over

The EUR/GBP is approaching overbought levels. After the latest 400 pips rally on the daily chart below we peaked at 80 on the Stoch and we're now dropping down. The gains likely coming to an end here.
On our second chart below we're seeing that this currency pair has been range-bound for almost one year, since September of 2016. Notice the swings up and down, every rally is being sold into while every drip is being bought. Furthermore here too we're seeing the Stochastic Oscillator above 80, sig…
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Pound Targeting 1.3500?

The Pound could be targeting the 1.3500 round level in June. Exhibit A is the chart below. Notice how after a strong +900 pips rally from the lows the pair is now consolidating. The fact that we're currently quoted less then 200 pips below the highs signals to me that this is just a healthy retracement on the way to more gains. The UK election is coming up soon and that should act as a price catalyst as well.
But what could be our target? The nearest resistance level can be found at the 1.3448 s…
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EUR/TRY Stuck in a Large Triangle

The EUR/TRY has been stuck in large triangle all year. Notice how prices keep trading in a smaller and smaller range on the weekly chart below. While this will eventually result in a breakout, I think this wont happen during June as there is still room to maneuver inside the triangle.
On our next chart below we're seeing that mean-reversion has been the name of the game for 2017 in this currency pair. Every dip was bought and every rally was sold into. Prices now are not much different from pric…
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Multiple Studies Says EUR/SEK to Stay Near Longterm Average

This is one of those pictures that's worth a thousand words. The chart below shows mutiple studies confirming my view that the EUR/SEK will stay near its long-term average. First we have the 200 month moving average in blue. It's currently at 9.277, only 5 percent away from the current market price. This means that the current price is just a few days worth of trading away from its average during the past 16 years.
If that doesn't show you the state of this currency pair, there's more! Notice th…
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Multiple Years Range Remains Unbroken

The 5 years long range in the EUR/PLN is still in play. Since the start of 2011 this pair has moved without a clear trend or direction. We opened 2012 at 4.4464 and we're currently quoted at 4.1782. This is around 6 percent, a negligible price difference for several years of trading in the forex market. Most currency pairs moved that much in a two-three months.
If that doesn't convince you of the mean reverting nature of this pair then take a look at the blue line in the chart above. This is the…
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