Quote of the day:“Mistakes are the portals of discovery.” ~ James Joyce Good morning. Most charts are little change from yesterday, with EURUSD staying in the range of 1.4350-1.4430. Selling on rallies towards 1.4450 has been one of the best things to do lately and right now there’s no clue that we’re going to see Read More
- Continue reading: Gold at New Record While Most Currencies Are Looking for Directions
Quote of the day:“If I had to live my life again, I’d make the same mistakes, only sooner.” ~ Tallulah Bankhead Good morning. The week starts with euro pushing on intraday support formed by the median retrace value of Friday’s rally, at 1.4350 – see hourly chart below. I reiterate my view that it’s probably best Read More
Let’s see what this week brings and whether there might be some interesting trade setups developing I’ll start with the EURUSD, which is the most popular currency pair. As you can see, the pair is still into a relatively narrow range since topping at $1.49. But why? and here is the answer: Riiight! Notice how Read More
Even though I’m quite busy these days, I still find time to read interesting stuff or watch great pictures: Guest Macro Commentary: Is Germany Playing Chicken With Ben Bernanke? (ZeroHedge) Central Bank Policy, Euro Bonds, and QE3 (Financial Sense) “Lehman-Like” Credit Crunch Hits EU; ECB Will Not Disclose Affected Banks; Euro-Style Anxiety Spreads to U.S. (Mish’s GETA) Technicals point Read More
Quote of the day: “How much easier it is to be critical than to be correct.” ~ Benjamin Disraeli Good morning. Dollar, yen recovered and gold keeps setting more record highs as the world’s stock markets tumbled yesterday on growing economic concerns and more bad news from the eurozone. Let’s take a look at some charts Read More
- Continue reading: Dollar Recovers, Risk Pairs Drop as Stocks are in Free Fall Again
Quote of the day: “Lack of money is no obstacle. Lack of an idea is an obstacle.” ~ Ken Hakuta Good morning. The euro pulled back yesterday against the US dollar and some of its major counterparts such as the Japanese yen after Sarkozy – Merkel talk. Equity markets also fell after Sarkozy said that increasing the Read More
Here are today’s recommended articles: How Linux mastered Wall Street (ITworld) Gold-standard debate back, 40 years after Nixon (MarketWatch) ECB is euroland’s last hope as bail-out machinery fails to resolve crisis (Telegraph) Germany, France Slide Toward Recession; German Economy on Verge of Contraction (Mish’s GETA) We Don’t Have A Long-Term Deficit Problem (The New Republic) Did George W. Bush cause this Read More
Quote of the day: “Doing a thing well is often a waste of time.” ~ Robert Byrne Good morning. It’s been a good Monday for the euro and risk sensitive instruments as the recovery continued – EURUSD reaching a daily high near $1.4500 before pulling back, AUDUSD breaking resistance – former support – at 1.0450 and Read More
- Continue reading: EURUSD Still in Range, AUD and CHF Pairs Are More Interesting
Quote of the day:“Do not wait for extraordinary circumstances to do good; try to use ordinary situations.” ~ Jean Paul Richter Good morning. Equity markets continued the recovery on Friday, therefore AUD crosses are trading higher – AUDUSD testing resistance into former support zone. The Swiss franc continues to retreat against most counterparts not showing notable Read More
- Continue reading: Couple of Charts to Start the Week 8/15/11
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