The Forex market has made significant moves as well. Risk aversion has strengthened the USD and the JPY. EURUSD and GBPUSD hit new lows for 2010. GBPJPY, a very volatile pair, dropped over 1,000 pips today. Yet the USD is not...
Read MoreNext week brings some very important news with it. On Tuesday we will see if the RBA will be hiking rates for the third consecutive time. There will be US unemployment data and a rate statement by the ECB. While the volume of...
Read MoreAUDUSD remains constrained by its lower highs, a trend that began this month. There is still support just above the 0.9100 level; however the price action suggests that this support will be broken. The pair has been trading in a...
Read MoreThe appointment of three Federal Reserve governors today is significant, but the impact will be minor since they fall in line with the current board of governors. Senate confirmation is still required for the appointees. “This...
Read MoreThe market has given back any gains on risk aversion that it has gained this month. AUDUSD has broken through this month’s support line around 0.9160 and look to be heading down to at least 0.9060. EURUSD had been hit the...
Read MoreRisk aversion on the news has driven people into USD and JPY, which have strengthened against all major currencies. EURUSD reached 1.3210, almost making a new monthly and yearly low. We have begun to see a stalling out and small...
Read MoreThis week was a bit mixed and overall subdued for risk appetite. Despite the strong levels in equities, only USDJPY made strong moves toward risk appetite. The dollar was surprisingly strong when you considered the movements in...
Read MoreWith the release of their monetary policy statement today, Canada has entered a transition phase in-between the current lose money policy and the imminent tightening policy. Looking at the remarks in their statement, I do not...
Read MoreThere is a tactic that every trader out there has tried, and it never works. Has this ever happened to you? You come up with a new trading strategy, only to find that it proves to be unprofitable. So you have the idea of...
Read MoreSelected Excerpt: AUDUSD is at the top of a very loose channel that has developed on the four hour chart. It is very possible that the price could break near the top at its current position, but there is a chance that the price...
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