Archive for July, 2007
« Previous Entries Next Entries »Confirmation Bias
Monday, July 23rd, 2007The dictionary says that confirmation bias is a tendency to search for or interpret new information in a way that confirms one’s preconceptions and avoid information and interpretations which contradict prior beliefs. Unfortunately this is something I see almost every day when traders send their charts and ideas to me. What it means is that [...]
EUR/USD – Picking a Top
Monday, July 23rd, 2007It’s time to pick a top in the EUR/USD. Today, the pair tried to make a new record high, but failed miserably. RSI is turning downwards and is close to breaking back below 70. USD/CHF has already turned, having registered solid gains today and finally, the EUR/USD is sitting right above our favored 1st standard [...]
EURCHF – Update
Saturday, July 21st, 2007Well, looks like I got the upside action I was looking for but not exactly (see previous post). I was ideally looking for a break above 1.6610 and for the pair to hold it. By the close on Friday the price settled underneath the 1.6600 figure so it didn’t follow through with my expectations. Still, [...]
CADJPY – Explosive Yes, But In Wrong Direction
Saturday, July 21st, 2007Wow, what a day for JPY crosses on Friday. This makes the second strong sell-off within two-weeks for these pairs that I got the pleasure of taking it on the chin. I’m a glutton for punishment I guess. CADJPY made its move all right…too bad it was in the opposite direction. I got out almost [...]
DailyFX Forex Radio
Friday, July 20th, 2007How high can the euro and the gbp go? DailyFX analysts Terri Belkas and David Rodriguez discuss that and the fate of the dollar after Bernake’s recent testimony. DailyFX Forex Radio – What will happen to the USD? Tags: dollar, forex, forex news, forex trading
Open A Forex Account Promotion
Friday, July 20th, 2007A few days ago, I saw one of FXCM’s competitors offering a “free forex course”.The course turned out not to be free, or should I say only free if you opened an account with a certain minimum deposit. There is nothing wrong with this- its a great idea, accept I think the firm should have [...]
Relationship Between USDCHF and US Consumer Confidence
Friday, July 20th, 2007We published our Third Quarter FX market outlooks > you can find them on DailyFX.com or Here Our Technical Analyst Jamie Saettele created this great chart for us. This chart shows the correlation between US consumer confidence and USD/CHF. It can be seen that Confidence tends to be a good leading indicator of the directionality [...]
CHFJPY – The Good Fight
Friday, July 20th, 2007It put up a good fight but couldn’t convert. Despite drifting higher almost immediately after I first posted on the idea it hasn’t been able to make and hold any significant ground in positive territory. Since the last update on this long play, CHFJPY has teetered back and forth moving roughly sideways for many days. [...]
Even Numbers
Thursday, July 19th, 2007It’s very easy to put too much emphasis on “round numbers” as we have learned since we were kids that numbers with zeros are more important than others. Time is divided into 10 and 100 years, we count to 100 when playing hide and seek, and it’s a big thing when temperatures go above 100 [...]
Is the AUD/USD Headed for 90 Cents?
Thursday, July 19th, 2007The AUD/USD has rallied for 10 straight days in a row – a continuous stretch of strength that is rarely seen in any major currency pair. With the exchange rate now at an 18 year high, we have to turn to our 30 year charts to get any point of reference. The AUD/USD will not [...]
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