Monthly Archives: December 2014

Today’s Trading Edge: USD/JPY: Trades under pressure as Nikkei drops 1.6% on final trading day of the year

USD/JPY has started to pullback once again after Japan’s Nikkei stock average dropped 1.6% on the final trading day of the year.  With many banks closing for New Year’s Eve, thin trading conditions are expected to persist. The USD/JPY 30-minute

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Today’s Trading Edge: EUR/AUD bearish reversal may accelerate on Greek Election worries

The EUR/AUD daily chart shown above displays a bearish ABCD pattern that formed on December 17th.  The current bearish reversal accelerated its slide today after the Greek government failed to secure enough votes to elect its presidential candidate.  Greece will

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Today’s Trading Edge: AUD/USD – Aussie plunge tentatively finds support

The AUD/USD daily chart displays a potential pause in the strong bearish plunge that has been in place since mid-November.  Since the near 250 pip rally that both ended on November 17th and respected the 50-day Simple Moving Average (SMA)

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Today’s Trading Edge: EUR/USD – Euro rebounds after sharp fall to new low

EUR/USD has rebounded slightly back around the 1.2200 handle after having plunged to a new two-year low.  Prior to this new low, euro-dollar was tentatively respecting the 1.2250 level last week.  This level may now become key resistance for the

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Today’s Trading Edge: GBP/USD – Bearish momentum firmly in place

The Office for National Statistics showed that Britain’s current account deficit was £27.0 billion in the third quarter.  The deficit matched a record high of 6.0% of GDP at current market prices. The economy is relying heavily on British households

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Today’s Trading Edge: Gold’s outlook remains bearish as equities and dollar appear poised to rally

Preholiday cheer is perhaps already driving thin conditions to the start of the trading week.  Since early October, gold prices have continued to pivot around the $1,200 handle.  With equities and the U.S. dollar remaining strong, gold’s bearish trend, that

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Today’s Trading Edge: NZD/JPY – Yen extends weakness as BOJ keeps monetary policy steady

The New Zealand dollar rallied 1.52% against the yen to 92.80 and extended its gains after the Bank of Japan kept monetary policy steady.  With oil prices remaining in bear market territory, BOJ Governor Kuroda continues to struggle creating inflation

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Today’s Trading Edge: Oil prices stabilizes but downward momentum appears poised to return

My last oil post explained that crude oil is poised for further downside as oversupply and falling demand seem to be firmly in place as the global economy weakens. The US oil daily chart above displays the recent plunge that

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Today’s Trading Edge: EUR/USD – Dollar rises on FOMC signal of potential 2015 rate hike

The US dollar resumed its bullish rally after Federal Reserve Chair Janet Yellen stayed on course with the idea of raising interest rates in 2015.  Dollar strength was across the board with the euro ending a two-week rally. The EUR/USD

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Today’s Trading Edge: USD/JPY – Continues Deep Pullback to a four-week low

USD/JPY has continued to pull back sharply on risk aversion that was triggered by immense volatility from the collapsing Russian ruble.  If Russia is the key risk event that drives fear into the global economy, this pullback may continue. The

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