Monthly Archives: July 2014

Today’s Trading Edge: EUR/JPY – Exhaustion in Short Selling May Only Be Temporary

Yesterday, EUR/JPY was able to break above 137.35 and provide some relief to the very strong downward trend that has been in place since early April.  The rebound from 136.55 to 137.84 has formed a tentative bearish Gartley pattern (easier

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Today’s Trading Edge: Dollar Index (DXC) –GDP Stuns, Bonds Selloff and Dollar Skyrockets

The U.S. dollar skyrocketed higher against all of its major trading partners after the first reading of second quarter GDP came in at a stunning 4.0%.  This rebound was much higher than the contraction of -2.1% in Q1 and the

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Today’s Trading Edge: NZD/USD – Kiwi Drop Deepens and Achieves Initial Target as Dollar Rally Remains Firm

The key catalyst for last night’s New Zealand dollar drop came from Fonterra’s reduction in its forecast to have prices fall from NZD$7 to $6 per kg milk solids.  The currency remains heavy as the Reserve Bank of New Zealand

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Today’s Trading Edge: EUR/USD– Will 1.3000 hold this Summer?

Since having a daily close below the 200-day, 100-day and 50-day SMA, euro-dollar has plummeted 200 pips towards 1.3420.  The bearish trend is firmly in place and even Goldman Sachs announced a change to a more weaker euro bias.  A

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Today’s Trading Edge: USD/JPY – Poised to Breakout Higher

The last key statistical release of the week was unable to give the dollar a boost above the 102.00 level as U.S. business equipment orders increased 0.7% versus a forecast of 0.5%.  Despite the headline beat, non-defense capital goods excluding

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Today’s Trading Edge: NZD/USD – RBNZ Dovish Statement and a Record High Double-Top Drive Kiwi Selloff

Today’s kiwi selloff ignored the 25 basis point rate hike to 3.5% and was spurred by the RBNZ statement.  The statement was extremely dovish and triggered the collapse which was already set in place by the longer-term double top pattern

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Today’s Trading Edge: EUR/AUD – Drops through Major Support after High Inflation in Australia Dampers Rate Cut forecasts

The Australian currency rallied against all of its major trading partners after the annual inflation rate surged to 2.9%, a level that has not been tested since three months ended March 2010.  This is a very important statistic because it

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Today’s Trading Edge: EUR/USD– Continues Bearish Downtrend

The daily chart for EUR/USD shows the key breakdown of the 1.3500 level within a strong overall downtrend, and after a key consolidation over the past month.  Despite oversold conditions highlighted by the Slow Stochastics oscillator, price now may appear

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Today’s Trading Edge: USD/CHF – Little Changed as Bearish Gartley Pattern from Friday Holds

Price action on the USD/CHF daily chart displays a potential bearish Gartley pattern after price pierced the .9000 barrier on Friday.  Point D was confirmed by both the X to A 78.6% Fibonacci retracement from the June high to July

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Today’s Trading Edge: Oil’s Geopolitical Risk Rally Falters, but is the Upside Risk Over?

Geopolitical risks sparked a rally with oil prices that will end a month long selloff that took price from 107.54 towards key support from the 50-week SMA and the psychological century mark that was tentatively penetrated earlier this week.  As

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