Most of the majors gave up their gains from the FOMC spike to finish of the week.  Heading into next week, prior to the Jackson Hole, markets could remain range bound.  Jumping up and down with every new rumor and data point.  The AUDUSD is the pair to watch to kick off the week.  The cross broke below trend line support in early New York trading Friday but could not gain any momentum lower.  Everyone have a great weekend and remember to keep your trades KEANE.


The QE rumors and expectations pushed the EURUSD around throughout the week.  All in all, the pair squeezed shorts out of the market for the majority of the trading week.  Heading into next weeks trading all eyes will be on the Jackson Hole on Friday.  Every piece of data and word from central bankers will change and modify expectations.

Currently the cross is resting near the top of a triangle.  The top of the triangle is created by a descending trend line that has capped the price action for almost a year at 1.2620.  The ascending trend line is created from the pairs recent accent starting last July and currently rest around 1.2350.  Heading into the start of next week the cross is trading in a range between 1.2590 and 1.2480. Sup  1.2480

Res  1.2590

Keane Plan:  The pair may drift in the range to start the week.  Short squeezes higher may play out once again.


The GBPUSD climbed higher for the majority of the week.  Breaking above the 50 fib at 1.5782, that had contained it for over a month.  The pair reached its weekly summit on Wednesday at the .618 fib at 1.5904.  After that point the cross slowly driftes lower and ended the week at about where it was before the FOMC announcement Wednesday.  Heading into the start of next week I expect this pair to dance around the Fibs once again.  Support begins at the 50 fib at 1.5782 and resistance is at the .618 fib at 1.5904.

Sup   1.5782

Res   1.5904

Keane Plan…Looking for range trading between the .618 and .50 fib to start the week.


The AUDUSD broke out of the bottom of the channel that had contained it in early Friday trading but could not find conviction lower.  For the next week the cross is going to wrestle with QE expectations and may drift without clear cut direction.  Any move up to the top of the channel around 1.0450 could find sellers.  The first level of solid support begins at 1.0320.

Sup   1.0320

Res   1.0450

Keane Plan…Loking for a pullback towards the channel to sell into.


The NZDUSD continued it slow wondering trek to te right across my monitor this week.  Over the week the pair gradually moved from the bottom of its range to test the top and retreat once again.  The cross is confined by two solid support and resistance zones.  Currently the pair is riding an ascending trend line towards the top of the range.

Sup   .8035/00

Res   .8185/.8235

Keane Plan….Playing the range into the beginning of the week.


The USDCAD has found a bit of comfort in the consolidation zone from the beginning of the year.  Between February and May the pair consolidated between 1.0050 an .98.  The cross appear to have a bit of traction at these levels.  Heading into next week the cross could bounce around between parity and support at .9860 before Jackson Hole.

Sup  .9860

Res   .9950

Keane Plan…Looking for range bound trading


The USDJPY  fell after the release of the FOMC minutes on Wednesday as expectations for further QE increased.  The cross could not find traction for a move higher throughout the remainder of the week.  Even though risk moved north and south during that time.  The JPYUSD could remain rather muted until the FOMC meeting next Friday.  Support begins at 78 and resistance is above at 78.70.  Any indication QE will remain on the sideline until further notice should send the cross higher.  If additional QE is announced the yearly lows could be in jeopardy and intervention talk will start up once again.

Sup     78

Res      78.70

Keane Plan….Watching treasury yields and risk sentiment. A break of 78.70 exposes 79.15 and 80.

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