Monthly Archives: April 2015

Today’s Trading Edge: EUR/USD week-long rally forms Gartley Pattern.

EUR/USD is in the midst of a strong rebound and partial recovery after a major collapse that prompted the pair to tumble to a 12-year low.  After six consecutive bullish trading days, the currency pair has tentatively formed a bearish

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Today’s Trading Edge: EUR/CHF – 4-week high forms ABCD Pattern

The Swiss franc fell to its lowest level in a month against the euro, possibly forming both a bearish ABCD and double-top pattern.  The euro remained strong early in New York as optimism grows that Greek government officials are on

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Today’s Trading Edge: GBP/USD shrugs off worst GDP print since Q4 2012

Earlier in London, sterling shrugged off weakness to the dollar after a report showed that the UK GDP grew at the weakest levels since the fourth quarter in 2012.  The Office for National Statistics reported that UK GDP preliminary estimate

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Today’s Trading Edge: US Oil forms bearish Butterfly Pattern after trading near 4-month high

US oil prices tentatively formed a bearish butterfly pattern after reaching my upside target of $58.25 from my April 15th post.  The recent gains for oil prices have been contributed to the growing concern that supply disruptions may occur in

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Today’s Trading Edge: EUR/USD nears formation of bearish Gartley pattern

EUR/USD has rallied on hopes that a debt restructuring deal will be reached between Greece and the euro-area.  The rally overnight retreated sharply from the psychological 1.09 handle to the 1.0819 area which was just above the London session open

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Today’s Trading Edge: NZD/USD –Weaken on RBNZ McDermott comments and HSBC China Flash PMI

The New Zealand dollar tentatively retreated from key resistance around the .7736 area on Wednesday.  The short-term retreat occurs after a two-month long trading range consolidation where price stabilized and respected the .7200 handle. Earlier in the year, price fell

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Today’s Trading Edge: EUR/GBP continues bearish bias but forms reversal pattern

The EUR/GBP plunge occurs after a week-long trading range consolidation and within a strong longert-term bearish trend.  The currency pair has dropped off considerably over the past two years and is tentatively respecting the .70 handle. The 4-hour EURGBP chart

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Today’s Trading Edge: AUD/USD bearish Gartley Pattern slide accelerates after RBA Minutes

AUD/USD drop as low as .7862 after the Reserve Bank of Australia minutes hinted that the Bank may resume cutting rates in May.  The Minutes highlighted that the economy was still growing below trend and that we may see continued

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Today’s Trading Edge: Gold demand improves but price remains weak

As of the beginning of April, Russian gold purchases had the biggest increase in six months, bringing their reserves to 39.8 million ounces from 38.8 million. The news of improving demand from the fifth biggest gold holder did not help

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Today’s Trading Edge: EUR/GBP – sterling strengthens after inflation report

The British pound strengthened against its major trading partners after a report showed a slightly better than expected 0.1% y/y gain.  Both the prior reading and forecast were flat. Core CPI also jumped an annual rate of 1.2%, with June

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