Archive for July, 2007
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Tuesday, July 24th, 2007Generally speaking, whenever I see the price exhibit weakness at key support/resistance or recent high/low levels I start thinking about getting out of the trade especially if I’m not way in the money at that particular point.
In this case EURCHF traded through the most recent daily highs made back on June 19th but failed to […]
DailyFX Forex Radio - Will dollar get a real boost?
Tuesday, July 24th, 2007Despite broad dollar weakness, dollar gets a boost from oil prices but still holds in a range. Thursdays new home sales could show more issues with subprime housing market. Durable goods is anticapated to improve.
DailyFX Forex Radio - Will dollar get a real boost?
Tags: dollar, forex, forex news, forex trading
The Rationality of Logic
Tuesday, July 24th, 2007It makes sense that things should make sense. I am the first to admit that there is a lot I don’t know. But there is a lot I’m ok with not knowing, mainly because I don’t need to. I don’t need to know why I’m kept alive by breathing air, why toast burns, or how […]
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 when […]
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 deviation […]
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, the […]
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 immediately […]
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 been […]
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 […]