Monthly Archives: March 2015

Today’s Trading Edge: US Oil: Prices fall ahead of Iran’s preliminary declaration deadline.

US oil prices fell ahead of the preliminary midnight deadline for some kind of declaration to be reached with Iran and Western diplomats. If a tentative deal is reached, expectations are for further pressure on oil because an agreement would

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Today’s Trading Edge: EUR/USD drops despite positive European headlines and tepid U.S. data

EUR/USD resumed the longer-term bearish trend after key data was released from both Europe and the United States, but price was unable to break the 1.08 handle.  Earlier in London, the euro rallied from the open low of 1.0819 to

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Today’s Trading Edge: USD/CHF little changed as US economy grew at 2.2% pace in Q4

USD/CHF is slightly changed after the 830 am EST GDP release showed that the U.S economy grew at 2.2% in the fourth quarter, a slight miss from the forecast for a 2.4% reading. The initial reaction was a drop from

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Today’s Trading Edge: US Oil jumps higher after Saudi air Strikes in Yemen

US oil prices rallied overnight because Saudi Arabia and its Gulf Arab allies launched air strikes in Yemen.  While Yemen is not a major producer of crude oil, their location is critical to the passage of Middle East oil shipments

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Today’s Trading Edge: EUR/GBP two-week rally runs into a bearish Gartley pattern

The euro has steadily climbed against sterling after making a key low on March 11th at .70135. This is the biggest rally we have seen since the summer of 2013. While the bearish trend has been firmly in place over

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Today’s Trading Edge: NZD/USD trades from Double-Bottom to potential Gartley Pattern

The New Zealand dollar shrugged off last night’s headline report that showed China factory activity fell to an 11-month low.  China flash HSBC/Markit Purchasing Managers’ index skidded to 49.2 in March, much lower than the forecast of 50.6, and the

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Today’s Trading Edge: US Oil: Will we see fresh 6-year lows anytime soon?

US oil prices rallied early in NY and respected a key trendline that extends back to the key high made last September.  Prices were under pressure earlier after Saudi Arabia reaffirmed their position to make no reductions in production.  The

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Today’s Trading Edge: Gold prices remain firm as Fed rate hike path uncertainty grows

Gold prices appear poised to finish the week stronger as the U.S. dollar was sold as investors interpreted the FOMC message to be dovish.   Delayed rate hike expectations are supporting the precious metal rebound off of the four-month low of

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Today’s Trading Edge: EUR/USD returns to Pre-FOMC levels

EUR/USD begins trading during the New York session right around the same levels it traded before yesterday’s FOMC decision and press conference.  The volatility that took place yesterday squeezed out many euro short positions with price surging all the way

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Today’s Trading Edge: GBP/USD plummets on labor market data

Earlier in London, sterling weakened to the dollar after a report showed that UK wages disappointed.  Office for National Statistics reported that the Average Earnings Index comparing three months ending January 2015 with a year earlier, declined 1.8% from 2.1%. 

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