Posted in Audio commentary, British pound, Canadian dollar, Euro, Japanese yen, U.S. dollar, U.S. stocks on April 15, 2008 | No Comments »
Tuesday 04/15/08
To quote from Andrew Busch, currency strategist for BMO Capital Markets: Happy Tax Day! Most likely, this will be the lowest tax rate you will be paying for the rest of your life…….
AUD rally then retracement overnight on rumors and then spends the rest of the nigh selling off
$CRX.X, GLD, SLV, OIL make the [...]
Posted in Audio commentary, Australian dollar, Commodities, Economics, Euro, Fed, Japanese yen, Price patterns, U.S. dollar on April 14, 2008 | No Comments »
Monday 04/14/08
Currency trading end of last week into this week is like the Abbet and Costello “Who is on first and what’s on second” bit, confusing and violent.
G7 Language was purposefully vague not referencing China’s currency but general currency fluctuations- market tried to anticipate intervention action which caused more violent price action overnight and through [...]
Posted in Carry trade, Commodities, ECB, Economics, Euro, Fed, Gold, Japanese yen, U.S. dollar, tagged ben bernanke, Carry trade, dollar, economy, Euro, Federal Resereve, interest rate, rate cut, usd, yen on March 17, 2008 | 1 Comment »
Well, maybe while you were getting ready for bed. The Federal Reserve Bank decided to make an emergency move this evening and cut the bank lending rate to 3.25 percent from the 3.50 percent it was at earlier. This move made by the Fed was meant to “try” and create some stability in the financial [...]
Posted in British pound, Euro, tagged bollinger bands, eur/gbp on February 20, 2008 | No Comments »
Remember we were talking about the EUR/GBP last week, and the stair-step pattern that is especially evident with the Bollinger Bands? Well the pair closed above the upper band yesterday. So let’s say we got in and let the experiment begin.
This really isn’t a “paper” trade - we don’t have many clearly defined rules, [...]
Posted in Euro, Price patterns, U.S. dollar, tagged eur/usd on February 14, 2008 | No Comments »
EUR/USD continues its bounce, and today the Stochastics crooked up - and out of oversold - on the 3 green arrow (Workshop) study set. If the pair was just above its moving average that would be perfect. But that’s the problem. The pair, technically, is not uptrending. It’s in a bit of a funk, [...]
Posted in Euro, U.S. dollar, tagged bounce, dollar, eur, Euro, usd on February 13, 2008 | No Comments »
By the way the euro did get it bounce versus the buck. That means it’s time to buy the EUR/USD if all three of these conditions are met:
1. You consider the pair to be uptrending according to however you’ve decided to define the trend. That could be higher highs/lows, price is above a [...]
Posted in Australian dollar, Euro, tagged aussie, channel, Euro, resistance, support on February 13, 2008 | No Comments »
Despite my reservations about going short the euro, the EUR/AUD breakout we looked at had legs. A few hundred pips worth of legs. It’s a good reminder of a technical analysis principle some of you may not know. When price is in a channel (support and resistance running parallel) and breaks out - either [...]
Posted in Canadian dollar, Economics, Euro, U.S. dollar, tagged dollar, Economics, Euro, G7, group of seven, loonie on February 11, 2008 | No Comments »
The Group of Seven (G7) nations - France, Germany, Italy, Canada, Japan, United Kingdom, United States of America - met this weekend. The finance ministers of these countries meet a few times a year to discuss their own, and the global, economy.
Sometimes this is a bigger event than other times. For example, many months [...]
Posted in British pound, Euro, tagged pound, gbp, eur, Euro, bollinger bands on February 11, 2008 | No Comments »
I’ve fooled around plenty with Bollinger Bands, but they aren’t part of my regular trading routine. Nonetheless, I often poke my nose around what various things are up to, and notice a nice pattern on EUR/GBP.
The trend is up, and the bands have been stair-stepping up. It’s a great pattern, with the bands being [...]
Posted in Euro, U.S. dollar, tagged dollar, Euro on February 7, 2008 | No Comments »
We’ve seen these type of stories before, but here is another from Reuters (click link to read the whole thing):
[...]
Posted in Euro, Japanese yen, Price patterns, tagged yen, Euro, triangle, stochastics, eur/jpy on February 7, 2008 | No Comments »
The pair broke down from a triangle and is heading back up and is now at resistance. Is a retest in the cards? We’ll see. Examples of possible, simple entry signals in line with the trend are in the green ovals where the fast stochastic line crosses below the slow line. Notice how we [...]
Posted in Euro, Price patterns, U.S. dollar, U.S. stocks, tagged dollar, usd, eur, price pattern, forex, Euro, stocks, resistance, Economics, triangle, eur/usd, bearish, bearishness, wall street, ascending triangle on February 5, 2008 | No Comments »
Stocks got a HUGE “denied” today as they failed to overcome former support/now resistance (was the old head and shoulders neckline) and came down forcibly from it. See the green oval on the lefthand chart.
This is a classic “retest”, having broken out from a technical level. What does it mean for the pairs? [...]
Posted in Australian dollar, Euro, Japanese yen, U.S. dollar, tagged aud, aussie, australia, forex on February 4, 2008 | No Comments »
The hunt for a reversal candle came up empty. Rather, the AUD/JPY broke out to the topside. Wow! Technically this is a power move. But I’m leery of it because of my bearish posture toward global economic fundamentals.
The breakout also happens on the EUR/AUD and that looks cool too, but yikes, trading bearish [...]
Posted in Australian dollar, Euro, Japanese yen, U.S. dollar, tagged Fed, forex, interest rates on January 31, 2008 | 2 Comments »
The scoop on the Fed is that they lowered rates 0.50% and said more were to come. Obviously that is bearish for the dollar and can be bullish for carry trades too since it is a balm for economic pain. Were it so simple to “fix” economies. Yesterday afternoon U.S. stocks sunk as bad [...]
Friday’s InvestoolsFX Audio Commentary
Posted in Audio commentary, British pound, Euro, Japanese yen, U.S. dollar, U.S. stocks on April 18, 2008 | 1 Comment »
Friday 04/18/08
Asia – Look at the inverted head n shoulders on FXI
Europe – Great Britain giving out pounds – look for institutional traders to step in
US - James look into the Financial futures crystal ball and tell me what you see?
James how do I trade the financials and the JPY?
$ up and commodities down.why??? – [...]
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