Monthly Archives: September 2015

Today’s Trading Edge: USD/CAD bullish trend makes fresh 11-year high

USD/CAD made a fresh 11-year high as price continues to extend its recent rally above a consolidation triangle pattern. The currency pair continues to rally despite a strong rebound with oil prices, Canada’s largest export. With only one down day

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GBP/USD may weaken as expectations grow for BOE to hike rates until mid-2016

GBP/USD may weaken as expectations grow for BOE to hike rates until mid-2016   The British pound continues to trade below the 200-day SMA, but has tentatively found support from the 1.5150 area as downside momentum fades.  The currency pair

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Today’s Trading Edge: USD/CHF unable to hold early gains after Dudley’s hawkish comments

USD/CHF started the week slightly higher, but was unable to hold its earlier gains after New York Fed President William Dudley said that the Fed will likely raise rates this year. Typically, a hawkish comment could help the dollar rally,

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Today’s Trading Edge: USD/JPY – dollar soars after Yellen explains

The U.S. dollar rallied overnight after Janet Yellen’s speech clarified that she may be leaning towards a December rate hike. Her testimony after the Fed’s decision to keep rates steady at the September 17th meeting appeared rather dovish and many

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Today’s Trading Edge: Gold rallies to a 4-Week High

Gold prices are poised to have the largest daily advance since January. The precious metal is seeing strong buying volume as demand for the safe haven increased amid a strong selloff with global equities. In addition to risk aversion, short

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Today’s Trading Edge: AUD/USD pressure returns after disappointing Chinese PMI data

The Australian dollar plummeted against all of its major trading partners except the loonie, after Chinese manufacturing data fell to a 6.5 year low. The Caixin Flash Manufacturing reading for September came in at 47, much lower than the forecast

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Trade Euro/Yen

Yesterday, EUR/JPY made a session high at 136.12 and respected the 50-day SMA and eventually fell below the 200-day SMA (currently trades at 135.51).  The euro did not have a major reaction to Greece’s election, which yielded a win for

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Today’s Trading Edge: EUR/GBP – rebound may lose momentum

The euro strengthened against the British pound after a two–day slide saw price fall below the 200-day SMA. Earlier in London, UK government borrowing came in higher than expected in August. The Office of National Statistics announced that UK public

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Today’s Trading Edge: USD/CAD bullish bets are pared back

The Commodity Futures Trading Commission report released on Friday showed that speculators using futures contracts reduced their bullish dollar bets. The report for the week ending September 15th showed dollar net long positions came in under $30 billion for a

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Today’s Trading Edge: Oil prices may target the $41 support level.

Oil prices are trading lower after both the Federal Reserve showed market investors that they are concerned over the health of the global economy and oil suppliers are expected to keep producing at high levels. Price action on the oil

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