Recurring patterns, now on the EUR/AUD

Anyone remember how we had looked at some recurring patterns on the CAD/JPY, a few weeks ago? The EUR/AUD is doing it too. Let’s see if we get a repeat performance  - although the CAD/JPY got the smack-down today and that run is over. Unsurprisingly the EUR/AUD’s major tops and bottoms align in the [...]

Read Full Post »

Don’t forget about this

Hey don’t forget about the GBP/JPY’s extra special super pattern it’s gradually forming. I’ve been saying for months it is better to avoid trading this pair (because it is a mess). That may be changing. If it breaks lower, enjoy the massive head and shoulders and a ride of hundreds, thousands of pips lower. [...]

Read Full Post »

Top 10 Trading Mistakes

Heads up and head over to the Trading Psychology section up top, I’m finally working on that sucker.

I put a list of “top 10 trading mistakes new traders make” in there. There’s a history to this list. Eric Utley here at Investools emailed all us coaches over a year ago regarding what we see the [...]

Read Full Post »

EUR/USD is back to business

Psst! Did you notice? Someone poked out of its channel yesterday.
Encouragingly, it closed near its high. The way to trade this: don’t hop in now, wait for it to calm and buy the bounce. A few hundred pips in the bank, anyone? …

Read Full Post »

CAD/JPY ka-pow!!

It’s not hard to look half-way smart when you talk about something (CAD/JPY) for weeks and then it happens, gloriously … when it’s a red-hot currency or currency pair. But let the real lesson not be lost: the lesson about picking battles and going for the best bets.
To be super annoying, let me quote [...]

Read Full Post »

All good trends are not dead

If you’re sick of the sloppy, end-of-the-year shuffling a lot of the pairs have done, look no further than the Czech Koruna for an awesome trend. The thing remains on fire! The Czechs are pretty progressive for the old Soviet bloc, and they have a sound economy which has been outpacing most others this [...]

Read Full Post »

Year-end in review

Here is the year in review as a comparison chart (left, click to enlarge) comparing the major currencies, in this case versus the euro. The worst performing currencies, the USD and GBP, were down about 9% vs. the euro. The best, the loonie, was up about 9%%.
What happened this year?
The year had a lot [...]

Read Full Post »

The big, orderly pic on the EUR/USD

Welcome back from Christmas everyone. T’was busy for me, having several small rug rats running around. Hope it’s been a good season for you.
Back to business, now.  I’m going to start doing some “big picture” kind of stuff this week, being year-end and all. No better place to start than the EUR/USD. The general [...]

Read Full Post »

Tune in to Thursday’s audio commentary

Today on InvestoolsFX Audio:
Today in the audiofx, more follow-up with the GBP weakness and follow-up on trends, credit flu and who is catching it. The Taj Mahal doesn’t want your USD anymore, so what do search terms have to do with that? Find out on today’s daily audiofx commentary…

Read Full Post »

The head and shoulders I missed

Whoa how embarrassing, I’m so busy with Christmas stuff and looking at other pairs lately, I miss the most important price pattern on the most important pair until after it breaks!
Yep, the EUR/USD broke down from a head and shoulders top a few days ago. And I “analyzed” the pair none the wiser! *sigh* Well [...]

Read Full Post »

CAD/JPY chompin’ at the bit

   Just following up something we talked about last week. The pair is looking bullishly frisky, trying to pop to the topside. It’d be nice to see more follow through though, considering the pair is at some resistance.
   For comparison, consider trades like we saw in it several months ago - I highlighted some possible [...]

Read Full Post »

Currency ETF’s

  I hope nobody minds but I get lots of emails from students each week - which I love, by the way, I enjoy talking to all of you - and I figure it’s a good idea to share the Q & A sometimes. Here’s a good question:
  Could you help me with a [...]

Read Full Post »

Exotics, pegs and other risque’ sounding FX stuff (mini-lesson time!)

   One of you wrote in asking me this:

   Thanks for the review of the exotics. I’ve got a question for you: I’ve heard some of these currencies (the HKD, anyway, I believe) being referred to as “pegged” to the US Dollar. I’d [...]

Read Full Post »

Don’t ever underestimate the dollar

   As hot as the euro is and stinky as the dollar is, don’t let it cloud your vision and remember things can turn on a dime.
   That out of the way, let’s roll our sleeves up & get down to more dollar-crushing business! I think the dollar rally has legs, especially as other central [...]

Read Full Post »

Buffet on the buck, taxes, and where we’re going

Some other interesting stuff, this time from Warren Buffet:
Q: Your views on the US Dollar?
A: The most important question to ask in economics is “X happens, and then what?”. We are living prosperously, but every day we are sending 2 Billion dollars overseas because we consume more than we purchase. It is similar to if [...]

Read Full Post »