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
Dollar under pressure on QE2 bets
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
dollar weaker ahead of GDP
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
Risk off
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
EURUSD still range-bound
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
dollar under pressure after G-20 meeting
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
EURUSD targeting 1.4 again
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
Euro’s recovery not convincing
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
Dollar strengthening across the board
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
EURUSD breaks 1.4
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
1.4 still in focus ahead of NFP
Quote of the day: Speculation is only a word covering the making of money out of the manipulation of prices, instead of supplying goods and services. – Henry Ford EURUSD Trading strategy: long at 1.3960, stop at 1.3890(0.5% risk), 1st objective at 1.4010, 2nd objective at 1.4100 Although it managed to rally above the 1.4000 Read More
EUR ready to conquer 1.4
Quote of the day: Sometimes a man can meet his destiny on the road he took to avoid it. – Louis Salinger in The International EURUSD Trading strategy: long on pullback to 1.3950, stop at 1.3880(0.5% risk), 1st objective at 1.4000, 2nd objective at 1.4100 The euro holds gains above $1.39 against the dollar after Read More
U.S. dollar resumes slide – gold unstoppable
Quote of the day: In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. – Alan Greenspan EURUSD Trading strategy: long at 1.3800, stop at 1.3730 (0.5% risk), 1st objective at 1.3850, 2nd objective at 1.3950 Euro’s correction is completed Read More
- Continue reading: U.S. dollar resumes slide – gold unstoppable
Correction likely?
Quote of the day: To avoid criticism do nothing, say nothing, be nothing. — Elbert Hubbard EURUSD Trading strategy: long at 1.3480, stop at 1.3410(0.5% risk), 1st objective at 1.3530, 2nd objective at 1.3640 Yesterday’s bottom around 1.3570 is under pressure at time of writing as the euro is pulling back from 5-month high reached Read More
Quiet consolidation
Quote of the day: An expert is a man who tells you a simple thing in a confused way in such a fashion as to make you think the confusion is your own fault. — William Castle EURUSD Trading strategy: long at 1.3510, stop at 1.3440(0.5% risk), 1st objective at 1.3560, 2nd objective at 1.3630 Read More
Trading setups to consider next week
Quote of the day: As long as people believe in absurdities they will continue to commit atrocities. — Voltaire EURUSD The euro had a good run against the dollar in the last 2 weeks, gaining 450 pips per week – being up 6.4% this month. Or I rather say “the dollar is down 6.4% against Read More
Dollar under pressure ahead of FOMC
Quote of the day: I find that the harder I work, the more luck I seem to have. — Thomas Jefferson EURUSD Trading strategy: long at 1.3120, stop at 1.3060 (0.5% risk), 1st objective at 1.3170, 2nd objective at 1.3250 The dollar is weaker ahead of FOMC Interest Rate decision on concern the Fed will Read More
Daily forex analysis: EURUSD’s short-term bias turning bullish
Quote of the day: Enjoy your achievements as well as your plans. – Max Ehrmann EURUSD Trading strategy: long at 1.2940, stop at 1.2870 (0.5% risk), 1st objective at 1.32990, 2nd objective at 1.3080 The euro extended its gains and breached above 1.2900 — thus confirming uptrend’s continuation. Now that the short-term studies are bullish Read More
- Continue reading: Daily forex analysis: EURUSD’s short-term bias turning bullish
Daily forex analysis and strategies 9-8-10
Quote of the day: Leadership is a privilege to better the lives of others. It is not an opportunity to satisfy personal greed. — Mwai Kibaki EURUSD Trading strategy: short at 1.2780, stop at 1.2850(0.5% risk), 1st objective at 1.2730, 2nd objective at 1.2650 The euro is approaching last week’s bottom as intra-day support failed Read More
- Continue reading: Daily forex analysis and strategies 9-8-10
Daily analysis and trading strategies 9-6-10
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
Daily analysis and trading strategies 9-2-10
Quote of the day: A deception that elevates us is dearer than a host of low truths. — Marina Tsvetaeva EURUSD Trading strategy: small long at 1.2740, stop at 1.2680 (0.5% risk), objective at 1.2900 The euro recovered some losses, breaking above the 1.2750 resistance region, following the risk pairs which rallied yesterday. Euro’s recovery Read More
- Continue reading: Daily analysis and trading strategies 9-2-10
Daily analysis and trading strategies 8-31-10
EURUSD Trading strategy: small short at 1.2720, stop at 1.2780(0.5% risk), objective at 1.2620 Support at 1.2650 is again under pressure as the euro failed to maintain its course, erasing most of last week’s gains. Next downside barrier comes below 1.2650 at 1.2590/05 which is also the 50% retracement of 1.1875-1.3335. Short-term studies are bearish Read More
- Continue reading: Daily analysis and trading strategies 8-31-10
Daily analysis and trading strategies 8-30-10
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
Daily analysis and trading strategies 8-25-10
Quote of the day: What’s the difference between Investment Bankers and London Pigeons? The Pigeons are still capable of making deposits on new BMW’s — Rob, a trader from the U.K. EURUSD Trading strategy: small short at 1.2590, stop at 1.2660 (0.5% risk), objective at 1.2490 Not much is new under the sun since yesterday Read More
- Continue reading: Daily analysis and trading strategies 8-25-10
Daily analysis and trading strategies 8-23-10
Quote of the day: Patience and perseverance have a magical effect before which difficulties disappear and obstacles vanish. — John Quincy Adams EURUSD Trading strategy: small short at 1.2770, stop at 1.2840(0.5% risk), objective at 1.2650 The euro weakened across the board and breached below the bear flag formation against the dollar – printing a Read More
- Continue reading: Daily analysis and trading strategies 8-23-10
Daily analysis and trading strategies 8-20-10
EURUSD Trading strategy: standing aside The euro failed once again to take out the 1.2900 barrier yesterday, so the range bound action continues between 1.2780/00 and 1.2900. As we can see in the chart below, we have a bear flag formation and its lower limit is again under pressure at the time of writing. Downside Read More
- Continue reading: Daily analysis and trading strategies 8-20-10
Daily analysis and trading strategies 8-19-10
EURUSD Trading strategy: standing aside Another failed attempt to break above 1.2900 occurred yesterday although the euro rallied to as high as 1.2920 before weakening throughout the US trading session. The appreciation to 1.2920 was a result of following the Pound which rallied coming behind the BoE minutes. As I said yesterday – I’d prefer Read More
- Continue reading: Daily analysis and trading strategies 8-19-10
Daily analysis and trading strategies 8-18-10
Quote of the day: Information is the currency of democracy. — Thomas Jefferson EURUSD Trading strategy: standing aside 1.2900 provided resistance once again yesterday and the euro failed to climb higher, despite several attempts. Intra-day sentiment is currently bearish although the pair trades around same levels as yesterday’s morning, but downside pressure seems higher. Unless Read More
- Continue reading: Daily analysis and trading strategies 8-18-10
Daily analysis and trading strategies 8-17-10
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
Daily analysis and trading strategies 8-16-10
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
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