Monthly Archives: February 2014

Today’s Trading Edge: EUR/USD –Bearish Butterfly Pattern Targets Reversal near 1.3800

The euro rebound that started in the London open was primarily technically driven as key support from the 100-Day Simple Moving Average (SMA) was once again respected.  Despite poor data from Greece, restructuring issues ahead and low inflation keeping the

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Today’s Trading Edge: USD/JPY – Bullish Extension to be Supported by Rising Yields

The daily chart of USD/JPY displays the potential end of the bearish correction that has been in place since the New Year after price made a key low at 100.74, which is the lower band of the Bollinger Bands Oscillator.

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Today’s Trading Edge: NZD/USD – Kiwi May Retreat from Key Resistance Level

The U.S. dollar rallied against its major trading partners after Janet Yellen’s prepared remarks were released at 8:30 am EST. Tapering is expected to remain in place and her optimism appears to mirror Bernanke’s. The New Zealand dollar fell around

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Today’s Trading Edge: EUR/GBP – Rebounds but Maintains Bearish Bias

EUR/GBP has rebounded modestly towards the 50-day Simple Moving Average after having tested the lower part of the downward sloping trendline that has been in place since last summer.  Price has now rallied 150 pips from the January 22nd low

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Today’s Trading Edge: USDCAD – Canadian Jobs Impress and Spark Major Reversal

The market reaction to a dismal U.S. jobs figure triggered a kneejerk selloff for the U.S. dollar against its major trading partners.  The U.S. economy added only 113,000 jobs in January, significantly lower than the forecast of 185,000, but because

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Today’s Trading Edge: EUR/USD – No Hurry to Ease Gave Traders No Hurry to Short the Euro

Some investment banks expected ECB President Mario Draghi to provide a sign that the central bank was getting closer to acting.  Whether it will be quantitative easing, a negative deposit rate or a rate cut, the markets clearly went bid

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Today’s Trading Edge: Oil May Rise Toward $100 as Supplies Dwindle and if Price Closes Above the100-Day SMA

Energy commodities may get a slight boost from the abnormal winter that North America is experiencing.  With 15 states having winter storm warnings and a forecast for brutal weather that could affect 24 states this weekend, expectations for more oil

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Today’s Trading Edge: AUD/USD – No Talks of Easing Drive Aussie Right into a Bearish Butterfly Pattern

The Reserve Bank of Australia (RBA) as expected kept the cash rate unchanged, many however were surprised, especially Aussie sellers that the central bank removed the potential for further easing in its statement.  Last month, I mentioned that the RBA’s

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Today’s Trading Edge: GBP/USD – Plunges to 50-Day SMA as Major Correction Begins

U.K. manufacturing output grew at a slower pace than expected and any rate hike expectations by the Bank of England will likely be pushed backed towards the middle of next year.  The British pound declined against all of its major

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