The trouble with normal is it always gets worse. ~ Bruce Cockburn Good morning. Euro trades lower today, before European leaders meet in Brussels to discuss the region’s debt crisis and sign off a permanent rescue fund for the eurozone. Here’s a couple of charts to start the week with: USD Index Former support around 79.50 Read More
- Continue reading: Euro Pulls Back Before EU Leaders Meet in Brussels
Quote of the day: “The central irony of financial crisis is that while it is caused by too much confidence, too much borrowing and lending and too much spending, it can only be resolved with more confidence, more borrowing and lending, and more spending.” ~ Lawrence Summers Good morning. The euro is back below $1.3700 Read More
Quote of the day: “I believe that banking institutions are more dangerous to our liberties than standing armies.” ~ Thomas Jefferson Good morning. The euro continued to decline, reaching a session low at $1.3608 before rallying on rumors that Greek referendum will be canceled. Fed’s Bernanke speech and the FOMC rate decision are today’s key events of Read More
- Continue reading: Markets Under Pressure; Eyes on FOMC, Bernanke
Quote of the day: “The future, according to some scientists, will be exactly like the past, only far more expensive.” ~ John Sladek Good morning. The euro holds onto recent gains orbiting around $1.2900, as the markets are optimistic – awaiting details of a euro-zone debt deal to be finalized by the euro leaders tomorrow. Today’s Read More
- Continue reading: Dollar Challenging Key Support Ahead of Wednesday’s Summit
Quote of the day:“What you risk reveals what you value.” ~ Jeanette Winterson Good morning. Choppy trade is still the main theme as indecisions, rumors, nonsense and random good or bad news rule supreme these days – ahead of the two summits on Europe’s debt crisis. Looking at some of the most important currencies, one might Read More
- Continue reading: Market Remains Choppy Ahead of Debt Crisis Summit
Some charts that might be of interest: EURGBP EURGBP 4hrs chart 7-5-2011 GBPUSD GBPUSD daily chart 7-5-2011
Quote of the day: Democracy is being allowed to vote for the candidate you dislike least. — Robert Byrne EURUSD Trading strategy: small short at 1.2850, stop at 1.2910(0.5% risk), 1st objective at 1.2800, 2nd objective at 1.2750 The euro changed direction, revisiting the downside near support at 1.2770 after an industry group said Germany’s Read More
- Continue reading: Daily analysis and trading strategies 9-7-10
Quote of the day: If all economists were laid end to end, they would not reach a conclusion. – George Bernard EURUSD Trading strategy: standing aside The euro managed to reach 1.2900 on Friday’s NFP release which came at -54k. Although 1.2900 currently caps the upside, the euro is set to strengthen – breaking above Read More
- Continue reading: Daily analysis and trading strategies 9-6-10
EURUSD Trading strategy: standing aside Range-bound trading continues as the upside was capped by 1.2740 yesterday but support around 1.2650 was also stable. Recent euro’s losses against the Swiss franc and the yen are contributing to its weakness against the dollar, too – and current EURCHF and EURJPY studies don’t look too good to those Read More
- Continue reading: Daily analysis and trading strategies 9-1-10
EURUSD Trading strategy: standing aside Euro’s consolidation above 1.2700 continues but its recovery is still modest, upside being capped by 1.2770 – following the EURJPY which is facing resistance around former support zone, at 109.25. Short-term studies are bearish while the pair is trading below 1.2900 and its recovery being weak. Interim support is seen Read More
- Continue reading: Daily analysis and trading strategies 8-30-10
EURUSD Trading strategy: small long at 1.2910 on break on hourly bar closed above 1.2900, stop at 1.2840(0.5% risk), objective at 1.3030 Although yesterday’s attempt to reach 1.2900 was limited by 1.2870, the euro maintains its bid tone hovering near 1.2850 ahead of today’s German ZEW Economic Sentiment which is the most notable event in Read More
- Continue reading: Daily analysis and trading strategies 8-17-10
Quote of the day: Earth provides enough to satisfy every man’s need, but not every man’s greed — Mahatma Gandhi EURUSD Trading strategy: small short at 1.2880, stop at 1.2960(0.5% risk), objective at 1.2730 Euro’s recovery on Friday was again limited by 1.2900 and the 3 weeks gains were cut in a single week as Read More
- Continue reading: Daily analysis and trading strategies 8-16-10
Quote of the day: There are 10^11 stars in the galaxy. That used to be a huge number. But it’s only a hundred billion. It’s less than the national deficit! We used to call them astronomical numbers. Now we should call them economical numbers. — Richard Feynman EURUSD Trading strategy: small short at 1.3160, stop Read More
- Continue reading: Daily analysis and trading strategies 8-11-10
Quote of the day: Debts and lies are generally mixed together — Francois Rabelais EURUSD Trading strategy: standing aside The euro is having a break and pulls back from recent top as the dollar strengthened on concern that the global economic recovery is stalling boosted demand for safer assets, such as the Yen. Euro’s decline Read More
- Continue reading: Daily analysis and trading strategies 8-10-10
EURUSD Trading strategy: small long at 1.3210, stop at 1.3140(0.5% risk), objective at 1.3350 The dollar is weaker across the board after the Nonfarm payrolls shed 131,000 jobs last month, compared to a consensus of 70k. Dollar’s weakness is likely to continue as economic data shows that the U.S. recovery is stalling and may need Read More
- Continue reading: Daily analysis and trading strategies 8-9-10
EURUSD Trading strategy: standing aside The euro continues to trade sideways against the dollar as yesterday’s attempt to stabilize into the 1.32 region was short-lived, but the upside remains favored while we don’t see a retreat toward 1.3100. Short-term sentiment is bullish but the 4-hrs studies are showing signs of uptrend weakness after testing 1.3250 Read More
- Continue reading: Daily analysis and trading strategies 8-6-10
Quick note: Are you on Facebook? Join innerfx on Facebook by clicking the “Like” button and you’ll always be in the know about interesting Forex articles I read, write & share. So apart from the content I already have on the site, the Facebook page will have lots more, because I always share great articles when I Read More
- Continue reading: Daily analysis and trading strategies 8-5-10
EURUSD Trading strategy: small long at 1.3100, stop at 1.3030(0.5% risk), 1st objective at 1.3150, 2nd objective at 1.3250 1.3100 failed to hold and the euro rallied to as high as 1.3195 — on its way to the next important objective which is set into the 1.3250/90 region. Short-term sentiment is bullish and no technical Read More
- Continue reading: Daily analysis and trading strategies 8-3-10
EURUSD Trading strategy: small long at 1.2655, stop at 1.2585 (0.5% risk), 1st objective at 1.2705, 2nd objective at 1.2805 The euro rallied to $1.2738, the strongest since May, confirming that the decline to $1.2520/50 was corrective. Short-term sentiment remains bullish even though it was unchanged while the pair tested the lower side below 1.2600. Read More
- Continue reading: Daily analysis and trading strategies 7-14-10
Quote of the day: Whenever I go down to Washington and meet with the SEC and complain to them that the industry is either over regulated or the burdens are too great they all start to roll their eyes, just like all of our children do when we talk about the good old days. — Read More
- Continue reading: Daily analysis and trading strategies 5-20-10
EURUSD Trading strategy: short around 1.2510 on hourly close below 1.2515, stop at 1.2570 (1% risk), objective at 1.2410 Risk still lies to the downside as the euro continues its bearish trajectory, retesting last week’s bottom at 1.2520. The said support holds for now and a correction might be underway, but playing from short side Read More
- Continue reading: Daily analysis and trading strategies 5-14-10
Quote of the day: Insanity is doing the same thing over and over again and expecting a different result. — Albert Einstein EURUSD Trading strategy: waiting for a break above 1.3700 to consider a long position Support on the 61.8% of 1.3435-1.3735 at 1.3550 remains intact after the 2nd test but the euro’s recovery is Read More
- Continue reading: Daily analysis and trading strategies 3-10-10
Quote of the day: It is better to fail in originality than to succeed in imitation. — Herman Melville EURUSD Trading strategy: small short at 1.4050, stop at 1.4110 (0.5% risk), 1st objective at 1.4000, 2nd objective at 1.3950 The euro remains under pressure since weak rallies are finding resistance and it couldn’t hold pullback Read More
- Continue reading: Daily analysis and trading strategies 01-29-10
EURUSD Trading strategy: short at 1.4265, stop at 1.4325(1% risk), 1st objective at 1.4205, 2nd objective at 1.4145 The euro holds its modest gains around 1.4170, recovering from recent bottom at 1.4030. Short term sentiment remains bearish while below 1.4300 and extended gains from current market levels will probably be limited by facing resistance into Read More
- Continue reading: Daily analysis and trading strategies 1-25-10
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