Monthly Archives: April 2014

Today’s Trading Edge: USD/JPY – to Remain Range Bound Post Fed Meeting

The U.S. dollar sold off early in Europe to the Japanese yen and was unable to regain traction after today’s Fed day.  Price weakened to 102.13 at 10:45 AM EST and started to crawl higher after the 2pm Fed Statement. 

Posted in Posts

Today’s Trading Edge: EUR/GBP – Ignores GDP Miss and Falls Again within Strong Bearish Trend

EUR/GBP rallied almost 30 pips after the 4:30 AM release on Britain’s economy showed that the economy grew by 0.8% in the first quarter of 2014, just missing the forecast of 0.9% but better than last quarter’s 0.7% reading.  The

Posted in Posts

Today’s Trading Edge: The end is finally in Sight for Falling Silver Prices

The rapid run up in Silver prices from the October 2008 low of $8.22 to the April 2011 high of $49.82 saw prices have a major selloff that has now finally stabilized around the $18 level.  While price appears to

Posted in Posts

Today’s Trading Edge: GBP/USD –May Rise to Bearish ABCD pattern

For most of 2014, the British pound has traded higher in a relatively tight range to the U.S. dollar.  Today U.K. retails sales had a positive surprise with its March reading coming in at 0.1%, much better than the expected

Posted in Posts

Today’s Trading Edge: EUR/USD– Draghi Drags Euro Lower

Early in Europe, ECB President Mario Draghi spoke about a high euro and possible asset purchases and the euro responded by dragging lower to the rather tedious range we have seen for the past couple of weeks.  Mr. Draghi explained

Posted in Posts

Today’s Trading Edge: AUD/USD – CPI and a Strong Currency Will Encourage RBA to Jawbone the Aussie Lower

The Australian dollar dropped against most of its major trading partners last night after Australian CPI declines to 0.6% from 0.8%.  The surprise drop pretty much removed any opportunity for the RBA to tighten in the near future.  The RBA

Posted in Posts

Today’s Trading Edge: EUR/CAD– to Exhibit Continued Weakness #BigPullback

EUR/CAD may continue to show substantial weakness after being unable to show any significant signs of Canadian dollar weakness after U.S. officials announced on Friday the delay of the heavily debated Keystone XL pipeline.  If and once this approved, this

Posted in Posts

Today’s Trading Edge: Technical Analysis says Oil Prices hit a Brick Wall

After breaking out above both the 50-day and 200-day Simple Moving Averages oil prices continued a strong continuation to its bullish trend that hit major resistance last week at the $105 area.  The 4-week rally hit a major wall and

Posted in Posts

Today’s Trading Edge: The S&P 500 Index still a Buy Technically

So far this year, the E-mini S&P 500 Index has for more the most part respected the 100-day Simple Moving Average (SMA).  The bull market beginning in March 2009 remains firmly in place and all this despite several worries about

Posted in Posts

Today’s Trading Edge: AUD/JPY – Consolidating Below Major Resistance

Since the end of last month, AUD/JPY has traded in a tight 178 pip range, while respecting major resistance from the 50.0% Fibonacci retracement of the 2012 high of 105.41 to the 2012 low of 86.40.  Price is also respecting

Posted in Posts