Quote of the day:“Achievable goals are the first step to self improvement.” ~ J. K. Rowling Good morning. The euro is still trading in range against the dollar after the G20, NFP release and more news coming from Greece. Greek Prime Minister George Papandreou agreed to resign after the formation of a new government coalition. Here’s a Read More
- Continue reading: Euro Retesting Support; Bear Flag Formation Suggesting More Downside
Quote of the day:“One of the lessons of history is that nothing is often a good thing to do and always a clever thing to say.” ~ Will Durant Good morning. Japan’s intervention to weaken the Yen is today’ hottest topic – USDJPY trading to as high as 79.50 from session lows around 75.50, EURJPY reaching Read More
Quote of the day:“Time has a wonderful way of showing us what really matters.” ~ Margaret Peters Good morning. Dollar breached horizontal support yesterday as the euro rallied to as high as $1.4245 from a session low at $1.3865 on euro-zone deal optimism. Large swings can be seen all over the place so let’s take a Read More
- Continue reading: Dollar Below Support, EURUSD Jumps Well Above 1.4
Quote of the day: “Insanity in individuals is something rare – but in groups, parties, nations and epochs, it is the rule.” ~ Friedrich Nietzsche Good morning. The dollar continues to weaken as EUR recovers on news coming from Brussels: EU setting 50% Greek bond writedown, 1 trillion euros in EFSF fund. Let’s see what are Read More
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: “Get your facts first, and then you can distort them as much as you please” ~ Mark Twain Good morning. The dollar continues to lose ground as risk sensitive currencies rebound after consolidating for a week. Short covering also fueled current recovery along with market optimism that European Leaders will act Read More
Quote of the day:“Doubt whom you will, but never yourself.” ~ Christine Bovee Good morning. The euro changed course and declined after reaching a daily high at $1.3910 yesterday, but remains slightly bullish on short-term basis as recent recovery was quite strong. The German Zew and Bernanke’s speech later today are the most important events of Read More
- Continue reading: Dollar Recovering On Risk-Off Trade; Eyes on Bernanke
Quote of the day:“If you can’t do what you want, do what you can.” ~ Lois McMaster Bujold Good morning. It’s been a volatile day in the markets yesterday as the dollar continues to lose ground against its most counterparts. The setups discussed yesterday played out nicely – but let’s see what story are the charts Read More
- Continue reading: Risk-On Trade Continues, Breakouts All Over the Charts
Quote of the day: “The real problem is not whether machines think but whether men do.” ~ B. F. Skinner Good morning. Dollar’s correction continues as the euro recovers from fresh multi-month lows, catching a bid against most counterparts. Here are some of today’s charts of interest: USD Index As seen in the chart below, bias Read More
Quote of the day: “Never trouble another for what you can do for yourself.” ~ Thomas Jefferson Good morning. The dollar pulled back yesterday, forming several reversal signals across the board as everything is correlated these days. Yesterday’s setups are still in play although most of them don’t look as good as I wanted yet, but it’s Read More
- Continue reading: Dollar’s Correction Continues, Reversal Patterns Still Valid
Quote of the day: “Whenever people agree with me I always feel I must be wrong.” ~ Oscar Wilde Good morning. Several reversal signals can be found across the charts today as the dollar is pulling back against most counterparts. Let’s see which are the best charts to watch right now. Similar setups to these below Read More
- Continue reading: Dollar Pulling Back: Several Reversal Patterns Are Seen
Quote of the day: “There’s always somebody who is paid too much, and taxed too little – and it’s always somebody else.” ~ Cullen Hightower Good morning. The dollar continues to deteriorate against some of its major counterparts, such as euro which is currently changing hands above $1.4500. Next interim resistance stands at 1.4580/00, followed by 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
Hello. Stocks and many currencies are in free-fall, Gold – that thing Bernanke called “not money” – is changing hands at over $1,700 as the markets are, again, out of control. Here are some charts you should keep an eye on: S&P 500 – As you can see in the chart below, we are retesting support Read More
- Continue reading: Charts of Interest: Falling Markets 8/08/11
Quote of the day:“Work saves us from three great evils: boredom, vice and need.” – Voltaire Good morning. As said many times before – history has a nasty way of repeating itself: so the BoJ intervention has failed once again and the Yen is strengthening across the board amid speculation fact that the global growth is Read More
Quote of the day:“Nobody ever did, or ever will, escape the consequences of his choices.” ~ Alfred A. Montapert Good morning. EURUSD is approaching the 3-months support zone as risk-off trade intensifies across the board – CHF and JPY extending gains all over the place, Gold reaching new record highs while writing these lines, AUDJPY breaking Read More
- Continue reading: Euro Extending Losses; SNB Intervention Just Around the Corner
Quote of the day: “When you have only two pennies left in the world, buy a loaf of bread with one, and a lily with the other.” ~ Chinese Proverb Hello. Things are looking bad for the euro once again as the debt contagion spreads to Italy and the markets resumed the decline, all important Read More
- Continue reading: Euro Continues to Fall; Some Charts That Matter Today
Here are some of today’s good stuff to read: Goldman’s FX Team Generates 40% Annualized Loss For Clients Per Its Latest Disastrous Recommendation (zero hedge) How to Quit Your Job – 5 Steps to Transition Into a New Career (Work Awesome) The Euro Crisis Song (Guardian) Greek Economic Crisis: Infographic (OANDA Forex Blog) Presenting The ECB’s Own Reflections On A Read More
Quote of the day:“Always imitate the behavior of the winners when you lose.” – George Meredith Good morning. The euro starts the week under pressure before the Euro-zone summit, testing intraday support into the 1.4000-1.4050 region against the US dollar and remaining in free-fall mode against the CHF, reaching record lows on a daily basis. Read More
Quote of the day:“Where all think alike, no one thinks very much.” - Walter Lippmann Good morning. The dollar recovered some losses as Bernanke backtracked on comments made about further stimulus on Wednesday when he said that QE3 could be an option in near term. Yesterday he told Congress that the Fed is not ready yet Read More
- Continue reading: Bernanke’s QE3 On/Off Commentary Locking EURUSD in Range
Quote of the day: “Everything that irritates us about others can lead us to an understanding of ourselves.” – Carl Jung EURUSD – 1.4404 @07:05 GMT Good morning. Last week’s top side is in focus now that the EUR managed to recover most of its recent losses, so keep an eye on 1.4450/75 if it Read More
- Continue reading: EURUSD Holding Gains Ahead of FOMC Meeting
Greetings. There are some setups worth watching in the coming days, such as the following: GBPUSD: recent sell-offs are suggesting that more pressure on the trendline around 1.6150 is likely, and current lower-highs formation is intact – therefore keep an eye on the highlighted resistance zone if current recovery continues. I think it’s worth looking Read More
Today’s reading list: Goldman On Why It Is Still Constructive On The EURUSD, And Thus The Market (Zero Hedge) Zimbabwe Says Days Of The US Dollar Are Numbered, Pushes For Gold-Backed Local Currency (Zero Hedge) PIMCO’s Largest “Equity” Holding – Gold (Zero Hedge) For Gold Investors, a Sudden Reminder of Its Volatility (NY Times) 3 Read More
Quote of the day:“Words without actions are the assassins of idealism.” - Herbert Hoover EURUSD – 1.4385 @06:55 GMT Good morning all. EURUSD pulled back from its multi-month high at $1.4485 following EURJPY and EURCHF as both pairs have lost ground after Japan raised the severity rating of the accident at Fukushima. The euro is not Read More
- Continue reading: EURUSD Pulling Back From Multi-Month High; Uptrend Intact
Here’s the daily collection of links: My Daily Routine: Checks and Balances for a Successful Trading Session (No Brainer Trades) Brown Brothers FX Commentary: Fade Tightening Expectations (Zero Hedge) EURO gets Green Light to Advance Further (Oanda) Shanky’s Daily Stuff (Shanky’s Tech Blog) Portugal on verge of bailout (Credit Writedowns) Expected ECB rate hike on Thursday Read More
Hello. Here is today’s dose of readings. I’ll be back a bit later today to share some interesting charts, if time permits – not a promise, m`kay? To QE3 or Not to QE3? (Seeking Alpha) QE2 Is Not A Recovery Plan, It’s A Stealthy Scheme To Prepare For The Next Bank Bailout (Business Insider) 19 Reasons Read More
Recent trading sessions were crazy. Here’s the JPY blood bath: USDJPY USDJPY daily chart 3-17-2011 AUDJPY AUDJPY weekly chart 3-17-2011 GBPJPY GBPJPY daily chart 3-17-2011 USDCHF CHF is very interesting too USDCHF daily chart 3-17-2011 There are several months now since everyone and his dog ”buys the dip” at any level – and yesterday was Read More
I take this opportunity to let you know that fellow trader Casey Stubbs of Winners Edge Trading will launch a complete product consisting of training from A to Z, trading signals, videos, webinars, a live trading room and many other helpful tools. You can check here for his video series and registration and also ask Casey Read More
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