Monthly Archives: May 2014

Today’s Trading Edge: USD/CHF – To Maintain a Slow and Steady Rally

For the past few months, USD/CHF has traded between the .8700 and .9000 range.  The problem for the US dollar is that the new neutral belief is that interest rates will remain low for the next year or two.  As

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Today’s Trading Edge: NZD/USD – Major Reversal Continues

Today’s kiwi selloff was spurred by the third monthly drop in the ANZ Business Outlook.  A bearish stance is finally becoming too popular amongst traders. Three weeks ago, I identified a key turning point for the kiwi.  The Reserve Bank

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Today’s Trading Edge: EUR/USD– German Growth to Slow and Euro to Drop

Last week’s downside target of 1.3650 was easily reached after the potential double-bottom pattern was invalidated.  Today’s weakness in the euro received some fresh selling news after German unemployment surprisingly climbed up 24,000, the first increase in six months.  The

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Today’s Trading Edge: Durable – Goods Orders Rise, Stocks Rally and Gold Falls to Key Support

Despite low volumes, equities remain bullish after a report showed that demand for US goods was better than expected.  The positive news release provided a catalyst for stocks to keep making new record highs, while gold continues to slide and

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Today’s Trading Edge: Dollar Index (DXC) – A Choppy Rally to Continue

The Dollar Index (DXC) began a strong rally two weeks ago after hitting a major support zone around the 79.00 handle and potentially forming a double bottom along with the 2013 October low.  The trend line break to the upside

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Today’s Trading Edge: GBP/USD – Slumps on UK Data, Solid US Housing/Jobs Numbers & Key Technical Levels

GBP/USD sold off earlier in London after second quarter GDP in the UK came in-line with forecasts at 0.8% q/q and 3.10% for y/y.  Despite the best reading since Q4 2007, the pound sold off as many traders abandoned long

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Today’s Trading Edge: USD/CAD –May Test Major Resistance and Form a Gartley Pattern

USD/CAD (4-hour chart) has just broken above short-term resistance and may make a run towards the 50-day SMA which is highlighted by the bottom of the red box.  In the process of this recent rally, price has breached above key

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Today’s Trading Edge: AUD/USD – Sharp Decline to Continue

The Aussie was lower overnight after RBA Deputy Governor Debelle made comments about how lower capital inflows will weigh on the their currency.  The move was limited as trade flows for most of Wall Street have been fairly light.  If

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Today’s Trading Edge: USD/JPY – Forms Bullish ABCD Pattern as Yields Stabilize

The U.S. dollar remains steady early in New York after U.S. Treasuries have found some support from the 2.50% level.  Bond markets have taken center stage for currency traders and if yields remain above this area, the dollar may gain

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Today’s Trading Edge: EUR/USD– To Continue Plummet after Double-Bottom Fails

The euro’s losing streak continued earlier this morning after poor GDP figures and weak CPI readings supported expectations that the European Central Bank will unleash a new stimulus program next month.  EUR/USD however found some support and tentatively formed a

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