Monthly Archives: July 2015

Today’s Trading Edge: USD/CHF forms two key reversal patterns

On my July 21st USD/CHF post, I identified that the bullish trend could continue and ultimately find key resistance from the .9700 zone.  The uptrend was confirmed two weeks ago when price advanced above all three key (200-, 100- and

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Today’s Trading Edge: EUR/USD continues to respect 50-day SMA

The US dollar strengthened against the euro after the FOMC statement may have given a sign that liftoff can still occur in September.  Many analysts were expecting a much more hawkish statement, but it is clear that voting members are

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Today’s Trading Edge: Kiwi higher despite future rate cuts likely

Reserve Bank of New Zealand Governor Wheeler’s speech on how the economy was not weak enough to warrant big rate cuts drove NZD/USD higher.  Despite hinting that further easing was likely, the kiwi rallied strongly.  The RBNZ has cut rates

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Lock In Profit On Short Euro Trade

Yesterday, the euro rallied on both short covering on bearish euro bets and a strong German IFO Business climate reading.  The IFO survey for July printed a 108.0 reading, better than the 107.6 forecast.  If data continues to improve from

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Today’s Trading Edge: Gold remains steady ahead of Fed Meeting

Gold prices have weakened for six consecutive weeks and made a 5-1/2-year low on Friday.  Since falling to the $1,072.30 low, price has stabilized as market participants await whether or not the Fed will give us a clue whether or

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Today’s Trading Edge: EUR/JPY –surges towards 200-Day SMA

Earlier in London, EUR/JPY benefited from short covering on bearish euro bets.  The currency also surged toward the 200-day SMA after German IFO Business climate for July beat expectations with a 108.0 print.  If data continues to improve from Europe’s

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Today’s Trading Edge: EUR/USD relief rally nears Bearish Gartley Pattern

EUR/USD temporarily rallied after Greek Prime Minister Alexis Tsipras received lawmaker backing for a second round of tough reforms.  Greece already accepted higher taxes and pensions cuts, and this round of concessions focused on structural changes for struggling banks. Greece

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Today’s Trading Edge: EUR/GBP – continues to rebound off seven-year low

At the end of last week, EUR/GBP dropped to a seven-year low on the likelihood the European Central Bank is likely to remain accommodative and growing expectations that the Bank of England would be one of the first central banks

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Today’s Trading Edge: GBP/USD rises as inflation risks grow

Earlier in London, the British pound rallied against its major trading partners after the Bank of England kept rates unanimously unchanged but highlighted rising inflation risks.  The initial reaction saw GBP/USD spike 24 pips to 1.5645 but then immediately drop

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Here’s Why Silver Is Still Heading Lower

Silver rebounds from ABCD pattern but further downside targeted   Silver prices have suffered a substantial loss while in the midst of a bearish slide that has been in place since the middle of May.  Since the failure to recapture

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