USD/JPY ahead of Japan GDP

Share 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. [...]

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GBP/USD Ahead of UK Inflation Report and BOE King’s Comments

Share 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 [...]

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Beginner Trader’s Corner—–USD/CAD

Share 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 [...]

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USD/JPY Ahead of Non-Farm Payrolls Due out Friday 8:30 A.M. EDT

Share 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 [...]

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Euro and Sterling — Get Ready for a Ride Ahead of 2 Rate Decisions

Share 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 [...]

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