Monthly Archives: April 2015

Today’s Trading Edge: GBP/USD advances but respects the 50-day SMA

After mixed data earlier in London, GBP/USD advanced and tentatively respected the 50-day SMA. The pound rose after employment hit a new record high, jumping 238,000 to 31.049 million. This release drove down the unemployment rate to 5.6%, the lowest

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Today’s Trading Edge: AUD/USD climbs after impressive job increase in March

AUD/USD rose as high as .7797 after the labor force report showed a surprising increase with employment climbing 37,700 full-time jobs to 11,720,300.  The unemployment rate also dropped to 6.1% in March, from a downwardly revised 6.2% in February.  The

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Today’s Trading Edge: US Oil breaks above 100-day SMA and forms potential ABCD pattern

US oil prices rallied for a fourth consecutive day and broke out above the 100-day SMA.  Earlier in New York, price hurdled above the critical resistance 54.40 level and made a new three-month high at $56.03.  The advance was triggered

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Today’s Trading Edge: USD/CAD makes lower highs and slides below 50-day SMA

My April 6th USD/CAD post highlighted a triple-top pattern that has helped signal a key reversal and major pullback from the longer-term bullish move.  While downside momentum continues to respect the key 1.2380 level, price has continued to make lower

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Today’s Trading Edge: EUR/USD plunges to major support

EUR/USD has plunged sharply within the past week to approach major support around the 1.0520 level, which is just above the 161.8% Fibonacci expansion level of the 300+ pip rally that began at the end of last month. While the

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Today’s Trading Edge: AUD/NZD – is it the end of selling rallies?

Since early 2011, the New Zealand dollar has rallied heavily against the Australian dollar.  So far, the bearish move highlights the key March 2011 high of 1.3792 and the near test of parity earlier this week.  With expectations growing that

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Today’s Trading Edge: EUR/USD maintains bearish trend bias

EUR/USD has retreated for a fourth consecutive day after the last rebound failed to push above the 1.1050 region.  It appears that the euro maintains its heavy bearish bias and could target the bottom of the recent trading range that

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Today’s Trading Edge: Gold faces major resistance from both a Gartley Pattern and the 200-day SMA

Early in New York, Gold prices appear poised to continue the recent pullback that occurred after making a high of $1,224.50 at the beginning of the week.  In my March 16th gold post, I explained how the precious metal was

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Today’s Trading Edge: AUD/USD surges after RBA left rates on hold

Last night, AUD/USD rose as much as 1.6% as RBA Governor Glenn Stevens baffled some economists by keeping rates steady at the record low 2.25%. Further easing by the Bank is still expected, so we may not see a strong

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Today’s Trading Edge: USD/CAD slides below 50-day SMA

Since the end of 2012, price action on USD/CAD has been extremely bullish but as of late, it appears to have formed critical resistance after making a 6-year high at 1.2834.  The collapse with oil prices, Canada’s largest export, have

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