Quote of the day: “Only government can take perfectly good paper, cover it with perfectly good ink and make the combination worthless.” – Milton Friedman EURUSD Trading strategy: standing aside The euro recovered Tuesday’s losses as the dollar weakened against commodities and commodity currencies. Intra-day resistance around 1.3250 was under pressure earlier today, after breaking Read More
- Continue reading: euro near weekly highs, following commodities
Quote of the day: “An optimist stays up until midnight to see the new year in. A pessimist stays up to make sure the old year leaves.” – Bill Vaughn EURUSD Trading strategy: standing aside The break above 1.3180 was short as the euro was unable to sustain gains and declined to as low as Read More
Quote of the day: “Everything happens to everybody sooner or later if there is time enough.” – George Bernard Shaw EURUSD Trading strategy: looking to sell on pullback to 1.3370, stop at 1.3420, 1st objective at 1.3320, 2nd objective at 1.3180 The dollar is up today against its counterparts after the Fed left interest rates Read More
- Continue reading: euro extending its decline across the board
Quote of the day: “If you‘re going through hell, keep going.” – Winston Churchill EURUSD Trading strategy: looking to buy a small size on break above 1.3280 / around 1.3300, stop at 1.3240, 1st objective at 1.3350, 2nd objective at 1.3440 Euro’s recovery was capped at 1.3310/20 and was sold-off after Fitch downgraded Ireland to BBB+. Though Read More
Quote of the day: “Economies are supposed to serve human ends.. not the other way round. We forget at our peril that markets make a good servant, a bad master and a worse religion.” – Amory Lovins Check my yesterday evening post in case you missed it and consider liking innerfx if you are one of the Read More
Good evening/afternoon or morning, if you’re from the far east and just woke up. As we approach the end of the year, I notice that more and more fellow traders make their forecasts for 2011 and many are very interesting. I promise to provide you a list by the end of December – meanwhile, I’ll Read More
Quote of the day: History, in general, only informs us of what bad government is. – Thomas Jefferson EURUSD Trading strategy: looking to sell at 1.3260, stop at 1.3320, 1st objective at 1.3210, 2nd objective at 1.3110 1.3400 capped the upside yesterday and the euro is back below 1.33 and Monday’s bottom. The Irish government Read More
Quote of the day: We will bankrupt ourselves in the vain search for absolute security. – Dwight D. Eisenhower EURUSD Trading strategy: standing aside Support was found yesterday around 1.3250 and the euro recovered, trading back into the 1.33 region but still below Friday’s top side. Ireland’s Parliament will vote today on its budget and Read More
- Continue reading: Ireland’s parliament voting on its budget
Quote of the day: It requires wisdom to understand wisdom: the music is nothing if the audience is deaf. – Walter Lippman EURUSD Trading strategy: standing aside The euro pulled back from its Friday highs but still maintains a bid tone against the dollar which is softer across the board as unemployment rate rose to Read More
- Continue reading: Dollar weaker as unemployment rose to 9.8%
Greetings. It’s been a pretty wild week in the Forex World as attention switched away from the Euro Zone debt problems for a while and the US unemployment rate rose to 7-month high at 9.8%, in a surprising setback, despite Fed’s tremendous efforts to stimulate economic growth, thus creating more money out of thin air jobs. QE2 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
Quote of the day: The best thing about the future is that it comes one day at a time. – Abraham Lincoln EURUSD Trading strategy: standing aside The euro recovered to as high as 1.3180 yesterday as the dollar was softer across the board and risk sensitive pairs such as EUR/JPY and AUD/JPY were some Read More
Quote of the day: If voting changed anything, they’d make it illegal. – Emma Goldman EURUSD Trading strategy: looking to sell on pullback to 1.3100, stop at 1.3160, 1st objective at 1.3050, 2nd objective at 1.2950. A minor correction is underway as the dollar is softer across the board, especially against gold and yen. Although Read More
Quote of the day: No sense makes sense. – Charles Manson EURUSD Trading strategy: looking to sell on pullback to 1.3200, stop at 1.3260, 1st objective at 1.3150, 2nd objective at 1.3050 The euro continues to drop towards $1.300 while all upside pullbacks are sold. Yesterday’s test against 1.3300 was yet another opportunity to join Read More
Quote of the day: An optimist is a person who starts a new diet on Thanksgiving Day. – Irv Kupcinet A Happy Thanksgiving to all American readers! EURUSD Trading strategy: standing aside The market is quiet and will probably remain this way until next week, after the Thanksgiving holiday. Support at 1.3300 still holds but Read More
- Continue reading: Euro Threatens 1.3300; thiner market due to the Thanksgiving holiday
Quote of the day: I do not know with what weapons World War III will be fought, but World War IV will be fought with sticks and stones. – Albert Einstein EURUSD Trading strategy: looking to sell on pullback to 1.3470, stop at 1.3530, 1st objective at 1.3420, 2nd objective at 1.3300 The dollar rallied Read More
Quote of the day: I have noticed even people who claim everything is predestined, and that we can do nothing to change it, look before they cross the road. – Stephen Hawking EURUSD Trading strategy: standing aside 1.3750 was a strong barrier and limited gains yesterday and the Irish election and contagion concerns are favoring Read More
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
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 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
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
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