Monthly Archives: November 2014

Today’s Trading Edge: US Oil – Crude collapses as OPEC signals no change in oil production

U.S. oil prices plummeted 6.30% to $69.05 on Thanksgiving Day because OPEC did not alter its oil production target.  My article on oil from two weeks ago highlighted that: “Some analysts are expecting OPEC to announce a cut to 28

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Today’s Trading Edge: EUR/AUD – Recaptures 200-day SMA for the first time since May

With the U.S. economy showing a lot of resilience, the US dollar may remain firm and trading the major currency pairs could become a pretty heavily one sided trade.  Crosses like EUR/AUD may provide a little diversification that could provide

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Today’s Trading Edge: AUD/USD – hits new four year low as ABCD Pattern forms

The Australian dollar continued to fall against the U.S. currency after the US GDP report surprised to the upside.  The second reading of GDP showed that the economy expanded 3.9% in the third quarter, much better than the expected climb

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Today’s Trading Edge: EUR/GBP – Current consolidation appears to be poised for further downside pressure

Price action on the EUR/GBP daily chart has continued to make lower highs and respect the .8050 level.  The promise of stimulus has kept the euro heavy, but today’s IFO survey of German business sentiment beat market expectations for the

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Today’s Trading Edge: Gold attempts rebound within strong bearish trend

Despite the current three-week rally, gold continues to trade within a well-defined bearish trend that extends back more than three years to the early September 2011 record high of $1,923.70. The yellow metal got a boost when China, the second largest

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Today’s Trading Edge: EUR/USD- Roller Coaster Ride Respects 1.2500

The euro had a roller coaster ride this morning after poor European manufacturing and services data drove the currency lower, but pared losses after a report showed low inflation persists in the US.  EUR/USD fell early in London from the

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Today’s Trading Edge: GBP/USD – BOE inflation pressures may help sterling snap five-day losing streak

Sterling has remained in a strong bearish trend since the dog days of summer.  With only a few bounces, this collapsing currency is struggling to find support.  Today’s pound rally was stemmed from the not so dovish BoE minutes of

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Today’s Trading Edge: US Oil – Falling demand continues to sink oil prices

U.S. oil prices continued the five month slide as expectations grow for OPEC to cut output as global demand weakens.  The news of Japan, the third-largest oil consuming country sliding into a recession is helping spur concerns that global demand

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Today’s Trading Edge: NZD/USD –Strong Retail Sales pops Kiwi above 50-day SMA

The New Zealand dollar tentatively broke above the 50-day Simple Moving Average (SMA) when trading started this week as risk appetite was supported by the report that New Zealand retail sales rose 1.5% in the third quarter, compared to the

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Today’s Trading Edge: CAD/JPY – Makes new 6-year high on Solid Data

CAD/JPY roses quickly after Friday’s Canadian Manufacturing Sales and US Retail Sales release, and is poised to make a new 6-year high once again.  These two positive beats could very well keep this bullish trend firmly in place for the

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