GBP/JPY is in a collision course between an uptrend and a downtrend. As both the pound and the yen are losing to the dollar due to each country’s internal problems, the technicals will speak. GBP/JPY uptrends and downtrends. Click to enlarge: GBP/JPY was trading in an uptrend during February and it traded around 143.50 at … “GBP/JPY at Crossroads”
Category: Opinions
EUR/CHF at All Time Low – Massive Intervention Underway?
EUR/CHF is trading in the lowest level ever. Technicians will see it going further down, but the SNB might force it to go in the other direction. Will we see EUR/CHF rock on Friday? Updates on this cross. EUR/CHF is now trading at 1.4244, the lowest level this pair ever traded in. It broke below … “EUR/CHF at All Time Low – Massive Intervention Underway?”
Healthcare Reform Weighs on the US Dollar
The healthcare reform passed the final hurdle in the American House of Representatives. I’m not going to enter the heated debate about the reform – I’m just going to deal with the implications for forex trading. There are different sides to this story: The Upside – Strong Government The historic healthcare overhaul is a great … “Healthcare Reform Weighs on the US Dollar”
Pound Jumps on Jobs – Breaks Major Resistance
The number of unemployed Brits fell dramatically – this unexpected improvement sent the Pound higher, sent the Pound above a major resistance line. Will this hold? A big test for GBP/USD – it could mark a long term turnaround. Claimant Count Change is the earliest and most important employment indicator in Britain. It reflects the … “Pound Jumps on Jobs – Breaks Major Resistance”
GBP/USD Breaks Up Towards Big Barrier
The British Pound enjoyed the mild FOMC Statement in the US to break above a minor resistance line and approach a much bigger one. Events ahead will probably stop it. Update. GBP/USD broke last week’s high of 1.5220 and is now trading above 1.5250. This is the highest level in two and a half weeks, … “GBP/USD Breaks Up Towards Big Barrier”
EUR/USD – Edging Up Before the Plunge?
Looking at the hourly charts, EUR/USD is trading in an uptrend channel since the end of February. The near past tells us that the drop is near. The charts can speak for themselves. EUR/USD bounced off the bottom line of 1.3423 three times at the end of February and the beginning of March. This line … “EUR/USD – Edging Up Before the Plunge?”
USD/CAD Breaks Support Line on Jobs – Road to Parity
Canadian employment data was slightly better than expected. This was the hay that broke the camel’s back – after a week of struggle, USD/CAD finally broke 1.02 and heads down to parity. Canada’s employment figures surprised analysts for a second month in a row. Contrary to last month’s huge surprise, the numbers were only slightly … “USD/CAD Breaks Support Line on Jobs – Road to Parity”
AUD/USD Strong After Job Figures
Despite unexciting job figures from Australia, the Aussie held the higher range it broke to earlier this week. The strength continues. Here’s an update on AUD/USD. Only 200 jobs were gained in Australia in the month of February. This fell short of expectations that stood on 15,700 jobs. Australia’s Unemployment Rate remained unchanged at 5.3%, … “AUD/USD Strong After Job Figures”
EUR/USD – Bullish Hints Inside the Range?
EUR/USD is trading in a range for over a month. While the long term trend is bearish, some bullish hints can be found within this range. Since February 4th, EUR/USD plunged into a range between 1.3423 to 1.3850. At the beginning the trend in the hourly charts was negative. On February 19th, the bottom line … “EUR/USD – Bullish Hints Inside the Range?”
Video Weekly Outlook
In the weekly video outlook on Forex TV, I spoke with Julie Sinah about range trading currencies, the economic indicators and expected breakouts. Enjoy! Want to see what other traders are doing in real accounts? Check out Currensee. It’s free. Get the 5 most predictable currency pairs