Market Info

EUR/USD Testing Downtrend Line at 1.3100 (March 8, 2013)

The falling trend line on EUR/USD is still intact for now as the pair is currently testing the 1.3100 major psychological level. That area is in line with the 38.2% Fibonacci retracement level, which might act as resistance today.

Forex Major Currencies Outlook (March 7, 2013)

USD: Bullish

It seems that a midweek reversal is gaining traction as the U.S. dollar gained against most of its higher-yielding counterparts during yesterday’s trading.

Trade Setup of the Day: GBP/USD Short (March 7, 2013)

GBP/USD has been forming its usual Asian box consolidation prior to the Bank of England interest rate decision. Strong breakouts typically take place during the actual event and the direction depends on the central bank’s rhetoric.

Forex Major Currencies Outlook (March 5, 2013)

USD: Bullish 
The U.S. dollar is currently benefiting from risk flows as most central banks are about to take a dovish monetary policy stance. 

Trade Setup of the Day: Long AUD/USD (March 5, 2013)

The AUD/USD pair has been trading cautiously around the support zone from 1.0150 to 1.0200 for the past few days, as traders waited for the monetary policy decision from the Reserve Bank of Australia.

Trade Setup of the Day: Short EUR/USD (March 4, 2013)

Another retracement opportunity is presenting itself on EUR/USD’s 1-hour time frame as the pair has been stalling above the 1.3000 major psychological level.

Forex Major Currencies Outlook (February 28, 2013)

USD: Bullish

The U.S. dollar may have lost some ground against most of its major counterparts during yesterday’s trading but this was mostly a result of a rebound in risk and profit-taking at key levels. 

Trade Setup for the Day: Short NZD/USD (February 28, 2013)

NZD/USD is still on a strong downtrend, as seen from the formation of a falling trend line on the 1-hour time frame. 

Trade Setup of the Day: Long AUD/USD (February 27, 2013)

AUD/USD is approaching long-term support at the 1.0200 major psychological level and a potential bounce could be in the cards. 

Forex Major Currencies Outlook (February 27, 2013)

USD: Bearish

Based on the tone of Ben Bernanke’s semi-annual testimony in front of the U.S. Congress yesterday, the Federal Reserve is in no rush to withdraw stimulus.