Monthly Archives: June 2015

Today’s Trading Edge: EUR/GBP – Will sterling remain the best performing currency?

EUR/GBP gapped down to start the trading week, but price fully recovered the initial drop and extended the rebound to the .7166 level.  Price action is now settling around last week’s closing price of .7087. The long-term downtrend returned strongly

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Greek Citizens Rush To Buy Physical Gold

Gold prices were only modestly higher despite all the risk aversion that hit the financial markets. Many traders believed that concerns regarding a Greece exit should have propelled the precious metal higher, but yesterday prices closed only about half a

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Today’s Trading Edge: EUR/USD collapse still possible if Greece leaves euro

Price action on EUR/USD jumped lower last night after Greeks woke up to find out their banks will be closed for six days.  This shutdown of banks and imposing capital controls aims at limiting withdrawals until the day after the

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Today’s Trading Edge: AUD/JPY poised to test lower boundaries of recent range

Price action on the AUD/JPY daily chart shows that the recent consolidating range just closed out the trading week with a daily close below both the 50- and 200- day SMA.  Today’s daily candle is very significant as it signals

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Today’s Trading Edge: EUR/CAD tentatively respects key trendline support

EUR/CAD formed a bearish Gartley pattern on June 4th and the bearish reversal is now finding tentative support from a key trendline that started with the April 17th low of 1.3022.  Point D of the Gartley pattern was confirmed with

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Today’s Trading Edge: EUR/GBP bearish trend momentum may target .7000

Early in Asia, EUR/GBP continued to trade near a four-week low and is tentatively respecting the .7100 handle. Bearish momentum has been firmly in place after price formed a double-top pattern after respecting the .7385 level. This recent selloff has

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Crude Oil Rebounds Despite Overproduction Concerns

After a steady two-month rally that started mid-March, US oil prices have remained trapped in a tight $5.00 range this month.  The fourth consecutive week of declining bearish and bullish bets is also supporting the commodity to continue trading in

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Today’s Trading Edge: EUR/CHF confluence of technical patterns

Euro optimism has been growing for Greek to receive a bailout to help them make their June 30th deadline for global creditors.  The euro has rallied strongly against the U.S. dollar and the commodity currencies, but not so much to

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Today’s Trading Edge: NZD/USD may see more pain in the coming weeks

Since failing to rally above both the 50- and 100-day Simple Moving Averages (SMA) during the middle of May, price has maintained a strong bearish stance that last week broke below the .70 handle.  Earlier this month, NZD/USD fell to

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Today’s Trading Edge: USD/CAD rises to key resistance on weak Canadian Retail Sales

The loonie was modestly weaker early in NY after a surprise miss on Canadian retail sales and despite a solid advance with consumer prices.  The economy remains stagnant and inflation may be kept down if energy prices remain weak.  The

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