http://www.fxstreet.com/technical/market-view/fx-session-highlights/http://www.fxstreet.com/technical/http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gif7http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/05/22/QUITE A MOVE - I haven't focused on EUR/GBP for a while, but recent moves could offer an attractive trade over the coming hours. Tuesday's surge was quite impressive, with the market racing through some key short-term resistance at 0.8515, before finally finding some offers just over the level into the close. However, overall, despite this upside break, I am not entirely convinced that we see much more upside from this cross ahead, and in fact, believe we could actually see a nice pullback. AWed, 22 May 2013 04:40:54 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/05/22/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/05/21/NON-QUANTITATIVE RISK MANAGEMENT - All has been pretty tame on this front after taking a good amount off the table last week. I am currently just sitting back and waiting for a reversal in global equities, and until then, there really isn't that much to talk about. You all know where I stand. With this in mind, I thought I would take the time today to outline the trading rules I live by. As simple and silly as they may sound, these two rules have done everything to ensure my success as aTue, 21 May 2013 06:19:30 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/05/21/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/05/20/UNHEALTHY RALLY - We are nearing the final month of H1 2013 and yet no sign of a pullback in equity markets yet. There is no question that investors have been forced into equity markets on account of global monetary policy that has discouraged investment in cash and bonds. The result has been a surge to fresh record highs in US equity markets, and record and multi-month highs in other global equity markets. Yet in my view, any time an investor base is directed into a specific asset for reasonsMon, 20 May 2013 06:28:52 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/05/20/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/05/17/ODE TO JERRY MAGUIRE - A profit is never really a profit until it is realized. So today, after a very long waiting game, I finally realized some profit. The key standout was my exit from a juicy NZD/USD short trade. It definitely feels good and I will try my best to remember the day and enjoy the moment. I keep going back to a classic scene at the end of Jerry Maguire. The lead character has battled through tremendous adversity, standing alone and sacrificing a great deal to stand up for whatFri, 17 May 2013 05:15:31 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/05/17/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/05/16/HOGWASH - Over the past few days I have been hearing a lot of the big guys on major television networks calling for additional upside in equity markets. Ultra accommodation will continue and valuations are still low they say. Many funds and corporates are still rich with cash on the sidelines and have yet to participate in the rally they add. This is hogwash! Admittedly, I have been positioned short the S&P from 1585 (stop on a weekly close above 1700), so at the moment I am the one on theThu, 16 May 2013 06:07:56 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/05/16/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/05/14/STRENGTH IN WEAKNESS - Not a whole lot has changed since the weekly open, although, it will be interesting to see how the buck responds under intraday pressure. The US Dollar has made a nice run in recent days, and I always like to see just how strong a trend is by the way it behaves in periods of weakness. Early Tuesday price action has seen the USD pullback from its highs against many of the major currencies, and the key right now will be to see if the Greenback can reassert and break toTue, 14 May 2013 04:56:53 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/05/14/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/05/13/SHINING BRIGHTEST - So the long US Dollar trade is finally starting to play out nicely across the board, following some very impressive weekly closes. While I have been projecting significant upside in the buck over the coming months, I have also been quite vocal about where I see the USD performing best. In my view, the commodity bloc and emerging market currencies are now most exposed, and we should therefore expect some major liquidations from currencies like the Australian and New ZealandMon, 13 May 2013 05:49:16 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/05/13/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/05/10/OK THAT'S DONE. SO NOW WHAT? - USD/JPY has finally broken through that critical 100 barrier after several days of consolidation. So where to from here? Technically, given the recent consolidation of four figures (roughly between 96.00-100.00), the projected measured move should extend into the 104.00 area next. Still, despite the unreliability of late, overbought indicators are through the roof, and screaming for a more significant corrective pullback before any meaningful bull trendFri, 10 May 2013 06:49:03 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/05/10/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/05/09/SO GOOD IT'S BAD - Well that was kind of absurd. I have no problem with the overnight employment data out of New Zealand and Australia coming in better than expected, but for the data to come in so far away from consensus is another story. How can we place any value in economic data that deviates so dramatically from what has been forecast? When the New Zealand projected unemployment rate is for 6.8% and the number comes in at 6.2%, it really makes you feel less than confident with theThu, 09 May 2013 06:35:40 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/05/09/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/05/08/WHOSE TURN WILL BE NEXT? – Yesterday it was the RBA and today it is the RBNZ. The move by Mr. Wheeler to disclose RBNZ intervention efforts, and comments that there is room for additional intervention, have resulted in major underperformance in the NZD today. This underperformance is long overdue in my view, after the currency had flown far too high in recent sessions. The RBNZ announcement comes on the back of an RBA rate cut to record lows and accompanying dovish policy statement. Finally,Wed, 08 May 2013 07:17:19 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/05/08/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/05/07/TURNING A NEW LEAF - The RBA is finally waking up to the fact that their global and domestic outlook up until now has been slightly more ambitious than what it should be. The Australian central bank move to cut rates by 25bps is a welcome development, and offers further proof to my overall view that the commodity bloc economies and emerging markets will be more susceptible to risk liquidation and relative underperformance over the coming months. Some of the key takeaways from the RBA statementTue, 07 May 2013 06:39:46 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/05/07/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/05/06/JUMPING THE FENCE - The solid employment data out of the US on Friday was pretty significant. Although, I don't believe the market reaction was the right one. Signs of broad recovery in the US economy in conjunction with this latest data, should really start to get some members at the Fed hopping over the fence and talking a little more seriously about monetary policy reversal. There are still major risks associated with a prolonged period of quantitative easing, and with the workforceMon, 06 May 2013 07:09:08 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/05/06/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/05/03/SOME POSITIVE CARRY - First things first. As advertised, I have now officially established a fresh long position in AUD/NZD at 1.2050. This is not a short-term trade. I will be looking for a move over the coming weeks back towards 1.3000, and will only exit on a weekly close below 1.1800. Right now, daily studies are certainly oversold, and I believe the market should be well supported at current levels around the major psychological barrier of 1.2000. I am excited to finally have someFri, 03 May 2013 07:18:50 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/05/03/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/05/02/JUST FOCUS ON THE PRICE ACTION - Many of you are all wondering what impact this week's event risk will have on market direction. The truth is, the event risk won't really have any impact at all, or at least it won't make any difference. At the end of the day, I am always much more focused on the price action than the actual short-term fundamentals. In my view, risk correlated markets are all well overvalued at current levels, and this should therefore translate into a major liquidation inThu, 02 May 2013 07:58:19 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/05/02/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/05/01/CALM BEFORE THE STORM - Most of Asia and Europe are closed for holidays and all is pretty quiet in the early sessions of the mid-week and on the first day of May. However, think of this price action as a quick rest ahead of the latter half of the week which produces a good deal of event risk. The key standouts are today's Fed rate decision, Thursday's ECB meeting, and Friday's monthly US employment report. For today, more of the same ultra accommodation is expected from the Fed, especially inWed, 01 May 2013 06:47:39 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/05/01/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/30/KEEP YOUR COOL - I know it may be frustrating for a lot of you out there also sharing my bearish views. There has been an expectation over the past several weeks that risk correlated assets would start to come under more intensified pressure, and yet, here we are in the final day of April, and we have only seen more bids flow into these markets. The S&P is once again threatening a break to fresh record highs above 1600, while the US Dollar has recently taken more of a hit. Still, in myTue, 30 Apr 2013 07:03:07 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/30/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/29/MORE EQUITY EXPOSURE - Although I already have some short equity exposure via the S&P (short at 1566), I couldn't help myself and have gone ahead early Monday, establishing a fresh short position in the Nikkei at 13750. The monthly chart is overbought, the weekly chart is obnoxious, and the daily chart has finally shown some promise, with the formation of a key bearish reversal day. Indeed, there has been a striking correlation between the Nikkei and USD/JPY. However, I believe we mightMon, 29 Apr 2013 05:18:50 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/29/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/26/LOOK TO THE STRONGEST - This proved to be an extremely disappointing week, with all of the encouraging bearish set-ups from the previous week, showing little to no follow through. Overall, my portfolio continues to be aggressively positioned short risk correlated assets and long US Dollars. While I have been lucky enough to find good entries for my positions, I am very much looking forward to seeing some follow through on these trades. For now, I think the key markets to watch are those thatFri, 26 Apr 2013 06:53:54 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/26/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/25/KEEP THE FAITH - The ability for risk correlated assets to continue to find bids in the current market environment is astonishing. Despite signs of topping, we have yet to really see any risk negative momentum. We had some pretty reversal set-ups in many of these risk correlated assets at the end of last week, and yet these formations are showing no follow through thus far. I understand this might be discouraging to many of you, but at the same time, it really just comes down to patience andThu, 25 Apr 2013 06:31:33 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/25/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/24/HEAD SCRATCHERS – I’m not quite sure what to make of a couple of things over the past 24 hours. The first is the resurgence in equity prices. Tuesday’s S&P rally was rather committed, with the market once again ignoring bearish topping signs and racing back to threaten a break of the previous weekly high. Still, I retain my sell into rallies conviction and would be looking for a bearish reversal just as quickly as we saw this latest bullish move. My shorter-term analysis shows someWed, 24 Apr 2013 09:40:22 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/24/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/23/EVEN KEEL - Things are starting to play out a bit, but we still have a good way to go. Although my short risk correlated asset portfolio has moved well into the money across the board (Long EUR/AUD 1.2250, USD/CAD 0.9850; Short AUD/USD 1.0400, NZD/USD 0.8630, S&P 1566), the moves are really nothing in the grand scheme, relative to the projected weakness I have been forecasting over the past few months. The fundamental concerns to trigger this liquidation in risk have been there for a quiteTue, 23 Apr 2013 07:41:45 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/23/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/22/THE WHEELS ARE IN MOTION - There have been some compelling weekly reversal formations in many of the risk correlated markets, suggesting we could be on the verge of a material shift in global sentiment. The key standouts to me are the commodity bloc currencies and US equities. Consequently, I am positioned short all three major commodity currencies (AUD, NZD, CAD), and the S&P 500. Should these markets show additional sell interest over the course of the next week and a bit, we could alsoMon, 22 Apr 2013 06:29:09 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/22/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/19/FRIDAY BLUES - I am never a fan of Friday trade, and always try to stay away from looking at the market on Fridays as much as possible. One of the biggest attractions to the FX markets for me is the nonstop action throughout the week, and the comforting knowledge that the market is always open for business. But on Fridays things are different. Fridays the FX market is like all other markets, subjected to the same fate of closure. While I welcome the weekend and the time I get to spend with theFri, 19 Apr 2013 06:45:33 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/19/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/18/A PULLBACK EVEN BULLS WOULD WELCOME - I'd like to take a step back today to simply talk about broader price action and how it relates to my current positioning. The most important point to note, which could easily be overlooked, is that there is still plenty of room for a very healthy correction in risk correlated assets, without even compromising this unjustified uptrend. My point...that it really doesn't even matter how bearish risk correlated assets I am at current levels, even thoseThu, 18 Apr 2013 06:50:37 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/18/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/17/WHAT'S UP WITH THE EURO? - Tuesday's rally in EUR/USD was a little strange in my view, with the major pair surging to its highest levels since February, while also breaking back over the 100-Day SMA. Technically, the close was quite bullish, with the market taking out some key resistance at 1.3140, to exceed a confluence zone in the 1.3050-1.3150 area. I had been looking for the formation of a lower top somewhere in the 1.3050-1.3150 area, and this latest surge compromises short-term bearishWed, 17 Apr 2013 06:54:14 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/17/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/16/SHAKING THINGS UP - A welcome bout of price action for my portfolio over the past 48 hours, and the record 2-day declines in the gold market (in USD terms) have certainly helped to shake things up. My strategy for gold over the past several months has pretty much been a sell on rallies approach, with the metal looking like it had been gradually putting in lower tops ahead of the latest severe breakdown below $1500. While I have no real exposure in the yellow metal, it is definitely worthTue, 16 Apr 2013 06:39:50 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/16/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/15/PICKING UP WHERE WE LEFT OFF - There was already a feeling in the air on Friday with the softer US retail sales data and extreme weakness in the commodities markets warning of the downside potential for risk correlated assets. This has carried over into Monday trade, with the gold sell-off extending declines to fresh multi-month lows below the critical $1500 mark. Although the momentum from Friday's close has carried over into the new week, the triggering catalyst for Monday's move hasMon, 15 Apr 2013 06:31:00 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/15/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/12/PERSPECTIVE IS SO UNDERRATED - It has been a frustrating and slow grinding few months of trading, and my book over the past several weeks has been tracking in marginally profitable to flat territory. But I am not discouraged in any way, and fully understand and respect that markets sometimes take a good amount of time to play out the way you want them to. The trick is (at least for me) to understand the bigger picture and to build your positions around this bigger picture. For example, I haveFri, 12 Apr 2013 06:52:28 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/12/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/11/ALWAYS LOOK ON THE BRIGHT SIDE - It certainly isn't fun when markets aren't going your way. Nevertheless, I have been prepared for the moves, and the latest surge in the S&P has triggered another short trade at 1576. I am now short 2/3 of my full position size (sold 1556 and 1576), and will sell one more time at 1625, should we see such an overshoot (this will give me an average cost of 1585). The only position in my short risk postfolio that is really giving me a bit of a headache isThu, 11 Apr 2013 05:57:03 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/11/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/10/ENCOURAGING AND DISCOURAGING - I am surprised the S&P could not take out the record high from 2007 following the latest surge on Tuesday, which managed to completely negate a bearish outside week formation. I am even more surprised that the market pulled back the way it did after then stalling ahead of 1576. As you are all well aware, I am quite bearish risk correlated assets and am positioned for a massive risk liquidation. Yet despite Tuesday's late pullback, I still can not feelWed, 10 Apr 2013 06:03:47 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/10/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/09/ALL EYES ON THE S&P - In recent reports, I have highlighted the S&P as the key market to watch given its correlation with risk appetite and broader global macro themes. The major equity index trades just below its record peak from 2007, and has once again managed to recover in the early week, after stalling just shy of the 2007 record level last week. A bearish outside week formation has shown absolutely no follow through thus far, and the market has now retraced more then 78.6% of theTue, 09 Apr 2013 06:13:41 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/09/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/08/PAST THE POINT OF NO RETURN – The depreciation in the Yen over the past few months has been something to watch. Nevertheless, despite the intense move, there is no reason to think the sell-off won’t continue. I really can’t remember a currency with so little going for it than the Yen. The Japanese economy has past the point of no return, and this latest aggressive (quite potentially reckless) monetary policy response could send the USD/JPY rate well above 100.0 over the coming days. Short-termMon, 08 Apr 2013 06:52:47 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/08/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/05/SECOND CHANCES - Back in the summer of 2012, I started to build a long position in EUR/AUD at 1.2000 and have continued to hold the position to this day. Along the way I have taken some profits and re-bought on dips, and at this point, my average cost on the open long position is around the 1.2250 area. I have recently advocated buying in the 1.2200-1.2400 area, following this latest dramatic decline from the 1.3200, 2013 highs, and believe this 2013 dip is now in the process of carving aFri, 05 Apr 2013 05:42:05 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/05/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/04/BANK OF JAPAN STEPS UP BIG - Central banks are taking center stage today, and although we still need to see where the dust settles at the end of the day, it will be hard to see the European Central Bank or Bank of England reactions topping the drama generated from the Bank of Japan, following its early Thursday move. If anyone thought that Mr. Kuroda would disappoint with a less than aggressive response, they were hugely let down, after the central banker more than stood behind his words andThu, 04 Apr 2013 06:50:20 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/04/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/03/WAITING GAME – At the moment, there really isn’t anything to talk about. It is just a waiting game. With the exception of adding to an S&P short on rallies (to record highs), I am fully positioned short risk, and am on the lookout for the catalyst that will trigger the anticipated broad based liquidation in risk correlated assets. Fed monetary policy, the ongoing Eurozone and European market crisis, and China, are three major themes capable of stoking the fire, while geopolitical riskWed, 03 Apr 2013 06:32:32 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/03/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/02/FADE THE CRAZE – Currencies are mostly bid post Easter holiday and in the initial sessions of the second quarter of 2013, with the mild recovery in the Euro helping to influence price action. Aussie and Kiwi, already well bid before the Euro bounce, have only used this as an opportunity to extend gains further, with Aussie jumping towards 1.0500, and Kiwi back above 0.8400. Aussie has also found some additional bids post RBA, after the central bank remained relatively upbeat overall, despiteTue, 02 Apr 2013 06:14:38 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/04/02/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/03/29/FINAL PIECE OF THE PUZZLE – A record close for the S&P on Thursday sets up the final assent to a break of the record high from 2007. There are many market participants (including myself) that have been waiting for an intense bout of risk liquidation in recent months, and it seems as though the inability for the S&P to break its record highs has been the one thing holding up the liquidation. In my view, more often than not, before a market can reverse course (in this case lower), itFri, 29 Mar 2013 07:22:31 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/03/29/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/03/28/PATIENCE RESERVES – I feel very well rested after a couple of good days off, and am pleased to see the Euro has remained well offered, extending declines against the buck and other major currencies. However, the outperformance in the commodity bloc and emerging market currencies, and still very well bid US equity market, is disappointing, as I continue to wait for these markets to relent in a big way. But I managed to build up a good amount of additional patience reserves in my time off, andThu, 28 Mar 2013 08:07:53 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/03/28/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/03/25/MENTALLY EXHAUSTING – It was nice to have the weekend to take a break and get my mind off markets. The past few weeks have been quite frustrating, with little to no follow through from my risk off portfolio. I have grown rather exhausted waiting for risk correlated assets to roll over, and yet, with every promising dip, comes a more convincing and unrelenting rebound. If you are bearish risk, it is enough to drive you mad. Still, I retain my gloomy outlook, and continue to favor long USDMon, 25 Mar 2013 06:00:52 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/03/25/http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/03/22/MORE RISK LIQUIDATION AHEAD – Just some quick thoughts as we head into the weekend. The Euro remains very well offered on rallies and seems to be preparing for an establishment below the 200-Day SMA, and assault on next key support at 1.2660. Fundamentally, the unresolved crisis in Cyprus should weigh on the single currency, although I suspect that other risk correlated currencies outperforming against the Euro this week (commodity bloc and emerging market FX), will start to underperform asFri, 22 Mar 2013 08:38:54 GMThttp://www.fxstreet.com/technical/market-view/jkonfx@gmail.com (JKonFX)http://www.fxstreet.com/technical/market-view/fx-session-highlights/2013/03/22/