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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EUR/USD Bear Flag Looking for a Break Down– Could Non-Farm Payrolls Be the Catalyst?

Share EUR/US 60 Minute Chart Fibonacci Retracement It looks like EUR/USD is making a “bear flag” (1)  formation just above the 200 bar Moving Average.  Incidentally this is also just above the 38.2% Fibonacci Retracement Level (2)  A break to the bottom of the flag around 1.4290/00 and below the Moving Average (white line below flag) around [...]

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Swiss miss

Share The Swiss franc, popularly known as Swissy among the forex trading crowd, was made the official currency of the Helvetic republic way back in 1798. The code CHF which is currently assigned to the currency is the acronym of the Latin Confoederatio Helvetica franc. The Helvetic republic has since changed its name to Switzerland, but [...]

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Get a load of the pound sterling

Share The pound sterling is the third most commonly traded currency in the forex market and incidentally, the oldest currency still around. It originates from way back before the Magna Carta, when there was no United Kingdom and the British Isles were divided between the warrior kingdoms of the Anglo-Saxons. These kingdoms used a currency known [...]

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Get the facts on the EU

Share Since the Euro is definitely a major player in the forex market, it couldn’t hurt to learn some basic facts about the economy it represents, i.e. the European Union. The European Union was built out of the framework of the old European Community and was officially established in 1993. The union as a whole is [...]

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