USD/JPY ahead of Japan GDP
Ahead of Japanese GDP data next , technically USD /JPY looks like it may be making a possible “reverse head and shoulders” on the daily chart. Next week there is some potential for volatility on the pair with Japan preliminary GDP due out at 6:50 pm EDT on Sunday February 14th, followed by a U.S. [...]
Continue reading...GBP/USD Ahead of UK Inflation Report and BOE King’s Comments
Tuesday, February 9, 2010
GBP/USD is staging around key levels ahead of major U.K. data due to come out at 4:30 a.m. and 5:30 a.m. EDT respectively on Wed, February 10th. Due out at 4:30 a.m. EDT is manufacturing production expected at 0.4%. The series is released every month about 40 days after the month ends and is the [...]
Continue reading...Beginner Trader’s Corner—–USD/CAD
Monday, February 8, 2010
USD/CAD is trading right now around the 1.0750 level on the daily chart just between the 100 and 200 Day Moving Averages respectively. Look to these levels for immediate support and resistance on a daily basis and to give direction to the pair in the coming weeks. If you look at my earlier post you [...]
Continue reading...USD/JPY Ahead of Non-Farm Payrolls Due out Friday 8:30 A.M. EDT
Thursday, February 4, 2010
USD/JPY was offered today, after it came to light that many hedge funds and Asian accounts sold off their European government bond exposure. EUR/JPY sold off this morning with most saying that this added momentum to the big sell-off earlier today. Looks like stops were hit under .9000 which was just under a significant support [...]
Continue reading...Euro and Sterling — Get Ready for a Ride Ahead of 2 Rate Decisions
Wednesday, February 3, 2010
Well let’s look at each pair separately first on an hourly technical level: GBP/USD has been in a downtrend on the hourly since last Friday, Jan 29th, until its low, Feb 1st at 1.5848. If we draw a Fibonacci line from these two levels we see that the pair has slowly retraced all the way back [...]
Continue reading...Trading the Breaks Ahead of Reserve Bank of Australia’s Rate Decision 10:30 PM EDT —- AUD/USD
Monday, February 1, 2010
Looking at an hourly chart on AUD/USD we see that the Aussie has been getting consistently weaker since Jan 18th earlier this year. Later tonight we have the Reserve Bank of Australia’s rate decision and statement at 10:30PM EST. The pair has been treading below the 100 Hour MA as considerable resistance over the last [...]
Continue reading...Trading the Breaks Ahead of USD GDP and CHF KOF —- USD/CHF
Thursday, January 28, 2010
USD/CHF has a potentially good setup depending on fundamental direction to “trade the break” ahead of United States GDP data and the Switzerland KOF report both due out tomorrow (see below for definitions of both). Right now USD/CHF is trading around 1.0520 with immediate support on the hourly chart sitting at 1.0510 shown by the [...]
Continue reading...Trading the Break— USD/CAD
Monday, January 25, 2010
In the currency markets, a very common term in trading is called a break. So if we refer to USD/CAD on a (daily) time-frame. We see that it is breaking on the upside. What this means is that the U.S.dollar may be getting stronger than the Canadian dollar. The current level right now is around [...]
Continue reading...Beginner Trader’s Corner- EUR/USD Making a Break!
Wednesday, January 20, 2010
EUR/USD has broken it’s Bear Flag formation that had been forming since it’s break of the 100 Day Moving Average, around 1.4600/ 1.4620 on 12/15/09. Since then it has been trading in a range from roughly 14260 to 1.4577 until today, when it broke the 38.2% Fibonacci Retracement Level and 200 Day Moving Average at [...]
Continue reading...Beginner’s Trader’s Corner- AUD/USD
Tuesday, January 12, 2010
It looks like AUD/USD has dropped from its high yesterday at .9324 down to .9201 through the 100 Bar Moving Average (see 1) and onto .9200 The next support level is around .9150 which is the 200 Bar Moving Average , further to .9100 (S2 38.2% Fibonacci Retracement). further support at .9030 (S2 50% Fibonacci [...]
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eToro – Forex Trading Forum
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Friday, February 12, 2010
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