Monthly Archives: September 2014

Today’s Trading Edge: EUR/GBP – Will price break .7500?

After making a high of .8768 on August 1, 2013, EUR/GBP has provided one of the strongest bearish trends of euro weakness.  Ten out of the last fourteen months have been bearish and fundamentals could support further downside as the

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Today’s Trading Edge: NZD/USD – RBNZ data shows intervention in August could not slow kiwi freefall

Over the past couple of months, I was bearish kiwi dollar because of concerns of slowing growth from China, stable rates likely to remain in place by the Reserve Bank of New Zealand and because of the strengthening US dollar. 

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Today’s Trading Edge: Nasdaq’s Drop May Scare Perma Bulls

Traders eagerly are awaiting today’s second quarter US GDP release to see if interest rate forecasts will target a rate hike sooner.  As quantitative easing fades, permanent bulls should be getting nervous as the stock market appears ready for potential

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Today’s Trading Edge: EUR/GBP – Downward Pressure May Target .7500 if Double-Bottom Pattern is Invalidated

EUR/GBP fell 33 pips to .7784, the lowest level since the summer of 2012.  The decline is supported by the difference of the BOE interest rate outlook to the ECB’s one.  Today, BOE governor Mark Carney explained that rate increases

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Today’s Trading Edge: US Oil – Double Bottom and US Inventories Decline Drive Oil Higher

U.S. oil prices rallied 30 cents to $91.86 after the Energy Information Administration announced that Oil inventory for the week ending September 19th declined by 4.27 million barrels to 358 million.  The report was quite a surprise as forecasts anticipated

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Today’s Trading Edge: AUD/USD – HSBC Manufacturing Climbs to a 2-Month High and Drives Relief Rally

After finding tentative support around .8852, AUD/USD rebounded strongly after a report showed flash China Manufacturing PMI rose to a two-month high at 50.5 and the manufacturing output index remained at the 51.8 level.  The data eases concerns of a

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Today’s Trading Edge: USD/JPY may form a bearish butterfly pattern and respects 110 for now

The USD/JPY bullish breakout that occurred at the end of the month of July appears to tentatively respecting the 110 handle.  Price action on the weekly chart is displaying a potential bearish butterfly pattern that also coincides with the key

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Today’s Trading Edge: EUR/JPY – Surges to four-month high

EUR/JPY maintains its bullish breakout since the double-bottom pattern formed on September 5th.  In the process, price has made a new four-month high at 140.20. Although recent weakness has plagued the euro, significant downside remains firmly in place for the

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Today’s Trading Edge: Gold Could Fall to Triple Bottom Formation if Fed Hints at Higher Rates

Gold investors and pretty much everyone on Wall Street is eagerly anticipating the Fed outlook on future rate hikes.  The precious metal was once a favorite trade by many as it had an amazing bullish run from the 2001 low

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Today’s Trading Edge: GBP/USD – Scottish Independence Vote Playbook

Price action on the 60-minute GBPUSD chart shows that since the major drop from last weekend, price remains trading in the range we identified last Monday. Price came within a pip of our lower target and has yet to fill

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