Market Info

Forex Major Currencies Outlook (November 14, 2013)

USD

The US dollar was wiped out yesterday when the prepared text of Janet Yellen’s speech was released. The transcript revealed what many were expecting, that Yellen would likely keep stimulus in place until the economy is able to show a significant recovery. 

AUD/USD Downtrend Test (November 14, 2013)

A falling trend line can be seen connecting the highs of the price on AUD/USD’s 1-hour time frame, reflecting the ongoing downtrend for the pair. It has just bounced off the .9300 major psychological level and appears ready to test the trend line.

Forex Major Currencies Outlook (November 13, 2013)

USD

The US dollar had a mixed performance in yesterday’s trading as it lost a bit of ground to the euro but made headway against the pound and the yen. 

EUR/JPY Rally Over? (November 13, 2013)

Despite the recent ECB interest rate cut, EUR/JPY has still managed to rally in the past few days. The pair has already climbed up to the 61.8% Fibonacci retracement level on the latest swing high and low on the 4-hour time frame, and this area could hold as resistance.

Forex Major Currencies Outlook (November 12, 2013)

USD

Despite the thinner trading conditions during the US holiday, the dollar was still able to stay supported from last week’s strong NFP release. EUR/USD retraced to the 1.3400 handle and consolidated there while USD/JPY pushed for more gains. There’s still not much in the way of US economic data for today so it could be all about consolidation once again, unless talks of a December taper push the dollar much higher.

NZD/USD Head and Shoulders (November 12, 2013)

NZD/USD seems to have completed the head and shoulders formation on the 4-hour time frame, pending a break below the neckline around .8225. The pattern is roughly 300 pips in height, which suggests that the resulting breakdown could be of the same height.

Forex Major Currencies Outlook (November 11, 2013)

USD

The US dollar was able to pack in plenty of gains on Friday when the October NFP release came in much better than expected. 

USD/JPY Symmetrical Triangle Breakout (November 11, 2013)

After months of consolidation, USD/JPY finally seems ready to break out of its symmetrical triangle. As you can see on the pair’s daily chart, a long green candlestick has already closed above the triangle resistance, hinting that an uptrend is in the works.

Forex Major Currencies Outlook (November 8, 2013)

USD

The US dollar had a topsy-turvy trading day, as it gained ground when the US advanced GDP reading came in better than expected at 2.8% versus the estimate at 2.0% and the previous 2.5% reading. 

USDCHF Downtrend Intact (November 8, 2013)

Thanks to the better than expected headline GDP figure released yesterday, USD/CHF surged up to the .9200 major psychological level which was in line with the 50% Fibonacci retracement level and the falling trend line on the 4-hour time frame.