Japanese yen is mixed against majors today as concerns about Europe continue, and as the EU summit prepares to take off. Yen is higher against the UK pound, but lower against the euro and the US dollar. Yen is looking for direction today as caution becomes the story for the currency market. Concerns about the eurozone are still high, but the euro is nonetheless gaining against the yen right now. On top of that, … “Japanese Yen Mixed Against Majors”
Month: June 2012
USDJPY Very Bearish – Now Eying 78.60 While Below 80.60
USDJPY is still very weak since markets opened on Sunday, when market turned sharply bearish from 80.60. When the pair traded very close to wave (C)=(A) levels. We’ll notice that prices now already formed an overlap with 79.29 highlighted in our past updates which suggest that wave (C) of E is finished and that bear … “USDJPY Very Bearish – Now Eying 78.60 While Below 80.60”
5 Most Predictable Currency Pairs – Q3 2012
Every currency pair has a particular story, characteristics, behavior or misbehavior on the technical charts. Certain pairs will make a big breakout across clear lines of support and resistance and will not look back. Or, when they aren’t able to break through, they will slow down and back off. Those are the more predictable currency … “5 Most Predictable Currency Pairs – Q3 2012”
US Dollar Weak as Bad Data Means Higher Probability of QE3
The US dollar was weak today as reports about manufacturing and consumer sentiment were unexpectedly bad, spurring speculations that the Federal Reserve may yet turn to quantitative easing as a way to bolster the faltering economic recovery. The greenback was almost flat against the euro. The Federal Reserve Bank of Richmond reported that its manufacturing index slipped from 4 in May to -3 in June. Most analysts believed that the index would … “US Dollar Weak as Bad Data Means Higher Probability of QE3”
CAD Stronger in Spite of Negative Factors
The Canadian dollar gained today even as the negative factors that were previously weakening the currency remained. Yet Forex market participants felt inclined to buy higher-yielding currencies even during these times of uncertainty. The environment on the FX market remained the same: negative for riskier assets. Yet the loonie ignored that. Perhaps, an unexpected surge of optimism on other markets was responsible for the strength of Canada’s currency. Futures on crude oil added 0.2 … “CAD Stronger in Spite of Negative Factors”
NZD/USD:Trading the NBNZ Business Confidence
The NBNZ Business Confidence Index measure the levels of business confidence in the New Zealand economy. The index is based on a survey of a wide range of businesses, including manufacturers, retailers and service providers. A reading which is better than the market forecast is bullish for the New Zealand dollar. Here are the details and 5 possible outcomes for NZD/USD. … “NZD/USD:Trading the NBNZ Business Confidence”
Euro Lower Ahead of EU Summit
The upcoming European Union summit is doing little to help calm nerves right now. While there are grand plans being laid, few people expect a true breakthrough from the summit, and there is an expectation that the situation will remain largely the same at the end of the meeting. One of the plans that might be presented at the meeting is expected to be the proposition of a tighter European Union. A document that is expected … “Euro Lower Ahead of EU Summit”
UK Pound Gets a Boost, Even with Bigger Deficit
Even though the UK pound saw a bigger than expected deficit, the UK pound is getting a boost today. Sterling is higher as some observers think that the latest developments will result in an end to the strict austerity measures, and help the United Kingdom start spending a little more to ease the current recession. Right now, the UK pound is heading higher, even though risk appetite isn’t very apparent in the markets … “UK Pound Gets a Boost, Even with Bigger Deficit”
Top 7 Trader Styles and Strategies – Infographic by
What type of trader are you? Using higher time frames has quite a few advantages, but it may not suit everybody.The short term and long term definitions are too wide. In this cool infographic, New Zealand based Forex broker MahiFX showcases 7 types of traders with examples from famous traders and their trades. More details … “Top 7 Trader Styles and Strategies – Infographic by”
Currensee Appoints Jonathan Jesse as VP of Engineering
Currensee, the first forex social network, just announced a new appointment in its management: Jonathan Jesse will be the VP of Engineering. Currensee recently announced that the Trade Leaders program is now available at over 100 Institutional Partners. The move is part of the growing Trade Leaders Investment Program, in which people can invest in curated forex professionals the … “Currensee Appoints Jonathan Jesse as VP of Engineering”