Quote of the day: He who is not courageous enough to take risks will accomplish nothing in life. – Muhammad Ali EURUSD Trading strategy: standing aside The euro holds above 1.3600 and is currently facing intraday resistance around 1.3650, after it climbed yesterday on Ireland optimism. Next resistance region comes around 1.3750 which served both Read More
- Continue reading: Euro recovers some losses; 1.3750 resistance in focus
Quote of the day: Folks who don’t know why America is the Land of Promise should be here during an election campaign. – Milton Berle EURUSD Trading strategy: standing aside Tested yesterday – 1.3570 provided intraday resistance but was breached during today’s Asian session, following Gold which bounced off support region around 1330, reaching session Read More
- Continue reading: Euro recovers some ground but remains vulnerable
Quote of the day: I’ve abandoned free market principles to save the free market system. – George W. Bush EURUSD Trading strategy: looking to sell at 1.3570, stop at 1.3640, 1st objective at 1.3520, 2nd objective at 1.3440 1.3570 was breached yesterday as the euro is once again in free-fall mode, bringing the 50% retramcement Read More
- Continue reading: Euro drops further amid Irish bailout talk
Quote of the day: Nobody can give you wiser advice than yourself. – Cicero EURUSD Trading strategy: looking to sell at 1.3690, stop at 1.3760, 1st objective at 1.3640, 2nd objective at 1.3550 Support around 1.3570 has been retested and held, but it certainly doesn’t look strong enough to consider buying dips. Short-term sentiment remains Read More
Note: the website has been revamped; if it doesn’t show correctly, please hard-refresh the page (CTRL-F5) Quote of the day: When in doubt, don’t. – Benjamin Franklin EURUSD Trading strategy: standing aside The euro remains under pressure on concern Ireland needs a bailout, after Friday’s failed attempt to break above former support at 1.3750. Near Read More
- Continue reading: Euro continues to fall on Irish debt concerns
Quote of the day: All generalizations are bad. – R.H. Grenier EURUSD Trading strategy: long at 1.3825, stop at 1.3755, 1st objective at 1.3875, 2nd objective at 1.3975 Although downside pressure is still high, support at 1.37 formed by October’s bottom held, and the dollar is a bit softer today, ahead of G20 Summit in Read More
- Continue reading: Dollar softer ahead of G-20 Summit in Seoul
Quote of the day: The public has a short-term memory. – Burt Greenwald EURUSD Trading strategy: short at 1.3900, stop at 1.3970, 1st objective at 1.3850, 2nd objective at 1.3750 Yesterday’s minor recovery towards 1.400 was short-lived and the decline resumed – extending to as low as 1.3735 earlier today. October’s bottom around 1.3700 comes Read More
Quote of the day: Sometimes it is better to lose and do the right thing than to win and do the wrong thing. – Tony Blair EURUSD Trading strategy: standing aside Euro’s sell-off continues amid European debt concerns which are worsening risk appetite in the market. The pair failed to hold recent gains above the $1.400 Read More
- Continue reading: No signs of euro recovery yet; Gold above 1400
Quote of the day: Things do not change; we change. – Henry David EURUSD Trading strategy: standing aside The euro trades down around last week’s open price as eurozone debt worries resurface. Dollar’s short covering post QE2 announcement is also helping the buck to gain some ground – recovering 360 points in the last two Read More
Quote of the day: The best way to appreciate your job is to imagine yourself without one. – Oscar Wilde EURUSD Trading strategy: long at 1.4160 on potential pullback, stop at 1.4090 (0.5% risk), 1st objective at 1.4210, 2nd objective at 1.4260 Another resistance point has been breached yesterday as the euro rallied past 1.4150/60 Read More
Quote of the day: The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some Read More
- Continue reading: Dollar continues to slide on QE2 announcement
Quote of the day: The economic repercussions of a stock market crash depend less on the severity of the crash itself than on the response of economic policymakers, particularly central bankers. – Ben Bernanke EURUSD Trading strategy: standing aside; will consider buying a small size on break above 1.4050/60 with an initial stop around 1.3980, Read More
Smooth seas do not make skillful sailors. – African Proverb Greetings. There’s only one day left until the Fed will (as expected) resume the program of assets purchases, trying to support the economic recovery. Current question is not “Will the Fed announce QE2?” but rather “How much money will the Fed print inject into the Read More
Quote of the day: If you take more chances, you’ve got more chances to win. … If you have a low tolerance for risk, you’ve got a lower probability of success. – James Carville EURUSD Trading strategy: standing aside The euro retraced from yesterday’s top side around $1.400 where it was testing the resistance formed Read More
- Continue reading: AUD retesting parity on RBA hike; EURUSD higher
Quote of the day: The inability to anticipate changes in supply and demand for a currency is at the root of the statistically robust finding that forecasting exchange rates has a success rate no better than that of forecasting the outcome of a coin toss. – Alan Greenspan EURUSD Trading strategy: long at 1.3950 on Read More
Quote of the day: There are no facts, only interpretations. – Friedrich Nietzsche EURUSD Trading strategy: standing aside Another week is almost over and the euro remains into the 4-week range, near same levels where it was trading last Friday. Yesterday’s recovery was capped by 1.3950 and current pullback from 1.3950 to 1.3880 (at the Read More
Quote of the day: Recession is when a neighbor loses his job. Depression is when you lose yours. – Ronald Reagan EURUSD Trading strategy: short at 1.3910, stop at 1.3960(0.5% risk), 1st objective at 1.3860, 2nd objective at 1.3780 The euro recovered some ground in Asian session as the support zone formed by the last Read More
Quote of the day: Constant repetition carries conviction. – Robert Collier EURUSD Trading strategy: short at 1.3900, stop at 1.3970(0.5% risk), 1st objective at 1.3850, 2nd objective at 1.3770 The dollar recovered to $1.3800 against the euro amid speculation increased debt purchases by the Fed will help revive economic growth, also following the AUD which Read More
Quote of the day: It’s a zero sum game, somebody wins, somebody loses. Money itself isn’t lost or made, it’s simply transferred from one perception to another. – Gordon Gekko (Michael Douglas) EURUSD Trading strategy: standing aside The dollar recovered some ground yesterday as the euro failed to hold into the 1.40-1.41 region. Upside remains Read More
Quote of the day: Courage is the discovery that you may not win, and trying when you know you can lose. – Tom Krause EURUSD Trading strategy: long on pullback to 1.400, stop at 1.3930(0.5% risk), 1st objective at 1.4050, 2nd objective at 1.4160 The euro is flirting with 1.4050 after few hours since the Read More
- Continue reading: dollar under pressure after G-20 meeting
Quote of the day: I will take this opportunity to reaffirm once again that the policy of the United States is to support a strong dollar. We in the United States recognize the special responsibility that we have to contribute to global financial stability in common with development goals as a reserve currency. – Tim Read More
Quote of the day: The first panacea for a mismanaged nation is inflation of the currency. The second is war. Both bring a temporary prosperity. Both bring a permanent ruin. – Ernest Hemingway EURUSD Trading strategy: standing aside Support around 1.3900 held and the euro holds recent gains near the 1.400 handle, maintaining a bid Read More
Quote of the day: If you put the federal government in charge of the Sahara Desert, in 5 years there’d be a shortage of sand. – Milton Friedman EURUSD Trading strategy: long at 1.3960, stop at 1.3880(0.5% risk), 1st objective at 1.4010, 2nd objective at 1.4100 We are one day closer to the G20 summit Read More
Quote of the day: We have the best government that money can buy. – Mark Twain EURUSD Trading strategy: short at 1.3870, stop at 1.3920, 1st objective at 1.3820, 2nd objective at 1.3750 Last attempt to breach 1.400 was indeed corrective, as it looked yesterday, before resuming the euro’s sell-off. Well, I guess that after Read More
Quote of the day: In truth, the gold standard is already a barbarous relic. – John Maynard Keynes EURUSD Trading strategy: standing aside Although it recovered some lost ground yesterday, the euro found resistance at 1.400 and was sold-off, the scenario repeating in today’s Asian session. Speaking of intra-day conditions – main question now is Read More
Quote of the day: In 27 of the 28 cases, sky-high prices eventually returned to earth, frequently making a small crater as they landed. - Jim Grant EURUSD Trading strategy: standing aside The euro is down 300 points from recent top at 1.4160 – this being the largest correction in 5 weeks. Current dollar’s recovery across Read More
Quote of the day: Never solve a problem from its original perspective. – Charles Thompson EURUSD Trading strategy: standing aside The dollar recovered some ground after the euro reached a fresh multi-month top at $1.4120. Support is provided by 1.400 and if the pair holds into this region today, a weekly close above 1.400 will Read More
- Continue reading: EURUSD consolidating gains near multi-month top
Quote of the day: I’ve learned that everyone wants to live on top of the mountain, but all the happiness and growth occurs while you’re climbing it. – Andy Rooney EURUSD Trading strategy: long at 1.4025, stop at 1.3955(0.5% risk), 1st objective at 1.4075, 2nd objective at 1.4165 The euro found support near 1.3900 and Read More
Quote of the day: Fiat money has no place to go but gold. – Alan Greenspan EURUSD Trading strategy: long at 1.3910, stop at 1.3840 (0.5% risk), 1st objective at 1.3960, 2nd objective at 1.4050 The euro resumed uptrend, ending the correction after it found support at 1.3800. The $1.400 barrier is back in focus Read More
Quote of the day: Economists are pessimists: they’ve predicted 8 of the last 3 depressions. – Barry Asmus EURUSD Trading strategy: standing aside Although it opened higher yesterday, the euro failed to hold gains and pulled back once again from $1.400 – testing support around 1.3850 while writing this. Short-term sentiment is not affected and Read More
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