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USDCHF broke below 1.0715 support
Tweet Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can [...]
US Dollar / Swiss Franc 02-24
Tweet No change: “I remain bigger picture bullish the USDCHF but bulls should keep risk tight given the near term chop. Bottom line; stay bullish above 10645 (be aware that a rally above 10902 could complete a diagonal from 10607). 11026-11091 is a target area. A drop below 10645 would delay the bullish bias.” Jamie [...]
US Dollar / Japanese Yen 02-24
Tweet The USDJPY rally (from 8481) is corrective, which leaves the pair vulnerable to weakness below that level. Still, a larger correction may be underway since the decline from 9380 is not impulsive either. The pair has rolled over and dropped through 9140 and 9056. The count above suggests additional weakness below 8854. 9056-9100 is [...]
Swiss Franc Halts Two-Day Decline, British Pound Lags Behind
Tweet The Swiss franc pared the decline from earlier this week and is the best performing currency against the U.S. dollar on Wednesday, while the British Pound maintained a narrow range and is currently the weakest amongst the major currencies. The Swiss franc pared the decline from earlier this week and is the best performing [...]
EUR/USD: Trading the U.S. Durable Goods Orders Report
Tweet The U.S. dollar is likely to face increased volatility over the next 24 hours of trading as economists forecast orders for durable goods to expand 1.5% in January, and a rise in private sector demands are likely to encourage prospects for a sustainable recovery as the expansion in monetary and fiscal policy continues to [...]
Canadian Dollar Support May Be Fleeting As Rising Inventories Threaten Oil Prices
Tweet A return of risk appetite helped end the Canadian dollar’s two day losing streak to the greenback as Fed Chairman Bernanke signaled that U.S. interest rates will remain on hold for an extended period. A drop in US consumer confidence had sunk demand for risky assets yesterday which sent the USD/CAD higher. USD/CAD A [...]
Currency Crosses: Technical Outlook 02-24
Tweet Price action in the Yen crosses confirm Monday’s suspicions that the next wave of risk aversion is underway. Euro / British Pound Staying below 8846 keeps the EURGBP headed lower in a final small 5th wave in order to complete the decline from 9158. 8537-8574 would be a target area. The lower level is [...]
Dollar Awaits a Clear Read on Risk and Rate Forecasts
Tweet The Financial and Capital Markets The markets have made little, real progress over the past week. Volatility has certainly reared; but direction and momentum have been notably absence. This is not a new state for the markets however. Underlying risk appetite hasn’t shown any meaningful progress (whether it be bullish or bearish) for nearly [...]
Reacting versus Predicting
Tweet Student’s Question: Is there any way of predicting a range bound or trend market, and if so how to predict which way the trend market will go, ie: upwards or downwards trends? Instructor’s Response: As traders all we do is react to what is happening as opposed to trying to predict what might happen. [...]
