Monthly Archives: November 2013

Today’s Trading Edge: GBP/JPY Bullish Gartley Pattern Targets 168.00

With thin market conditions likely to persist until early Monday morning, price moves may be limited with the exception of a possible gap on the Sunday open from Saturday’s release of Chinese Manufacturing PMI.  The bullish trend is very much

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Today’s Trading Edge: NZD/USD Prepares for a Sharp Pullback

Since the end of last month, commodity currencies have not showed any substantial rallies against the U.S. dollar.   Last week, we heard complaints from Reserve Bank of New Zealand Assistant Governor John McDermott that the kiwi is overvalued and fear

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Today’s Trading Edge: EUR/JPY Maintains Rally, 140 Within Sight

All the euro crosses soared last night after news spread that German Chancellor Angela Merkel’s CDU Party made a coalition agreement with Social Democrats.  EUR/JPY rose to the highest levels since August 2009 and is approaching critical resistance at the

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Today’s Trading Edge: EUR/USD Tightens Consolidation, Poised for Breakout

EUR/USD continues to trade in a tight 300-pip range this month.  Despite several key U.S. dollar breakouts with the other major currency pairs, the euro refuses to fall, as we see surprising better than expected data out of Germany and

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Today’s Trading Edge: USD/JPY Still the Strongest Trend

Everybody that went long USD/JPY at the end of last year had some fun.  The charts displayed a key breakout above the 75-85 range and more recently, after an extended triangle consolidation pattern, bullish momentum persists.  With price trading above

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Today’s Trading Edge: Gold’s Sharp Drop to Continue

Stocks are still making new record highs, Treasuries are once again falling, the commodity currencies are slumping and gold’s picture perfect bearish trend looks for one last leg down. The daily chart above highlights the 50-day Simple Moving Average (SMA)

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Today’s Trading Edge: GBP/USD – Still Consolidating and Respecting Major Support

GBP/USD has been entrenched in a 400 pip range since the middle of September, with this week’s price action continuing to respect the 50-day Simple Moving Average as critical support.  No major pound buying occurred today because the Bank of

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Today’s Trading Edge: EUR/USD – Fading the Rally

The euro has slowly stabilized from the November 7th ECB surprise rate cut.  Last night the euro surged over 40 pips towards 1.3577 after Fed Chairman Ben Bernanke said, “The target for the federal funds rate is likely to remain

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Today’s Trading Edge: EUR/USD – Breaks Bullish Channel

The euro has slowly stabilized from the November 7th ECB surprise rate cut.  Last night the euro surged over 40 pips towards 1.3577 after Fed Chairman Ben Bernanke said, “The target for the federal funds rate is likely to remain

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Today’s Trading Edge: USD/JPY – Bullish Hidden Divergence

Last week, bullish momentum finally took out the century mark, but price was unable to rise above the 100.50 barrier.  Currently USD/JPY is displaying signs of Bullish Hidden Divergence.  The four hour chart highlights price making a higher low, while

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