Archive for August, 2007
« Previous Entries Next Entries »Pound / Yen - Buyers Losing Steam Yet?
Tuesday, August 28th, 2007Following through on my previous post. The GBP/JPY bounce now seems to be weakening and the sellers are trying to come in and see what kind of damage they can cause to the downside.
The Daily chart still indicates downside momentum and the 4-hr chart is now showing buyers failing for the first time to come in. […]
DailyFX Forex Radio - US Dollar Gets A Reprieve Amidst Thin Trading - Major Event Risk Ahead
Monday, August 27th, 2007· US Dollar gets a mild bounce amidst thin trading despite weak NAR existing home sales
· Will US house price and consumer confidence data spark wild price action?
· Be sure to view the rest of the week’s event risk on the DailyFX Forex Calendar
To discuss these or any other FX topics with the DailyFX analysts, […]
CAD/JPY Confirming Move Lower, NZD/USD Turn Opportunity
Monday, August 27th, 2007On Friday, we had said that CAD/JPY was running into a brick wall of resistance. Today, we are beginning to see that weakness unfold as we continue to hover below the resistance point. We remain bearish this currency pair for a move down to 108.50 unless we have a break above 111.75.
Although both CAD/JPY and […]
DailyFX Forex Radio - US Dollar Plummets Despite Strong Durable Goods, New Home Sales - What Happened?
Friday, August 24th, 2007· US Dollar plummets despite strong durable goods and new home sales - what happened?
· Will Monday’s NAR existing home sales report help or hurt the greenback?
· Be sure to view the rest of the week’s event risk on the DailyFX Forex Calendar
To discuss these or any other FX topics with the DailyFX analysts, check […]
CADJPY: Running Into a Brick Wall of Resistance
Friday, August 24th, 2007CAD/JPY has had an impressive rally over the past two trading days but right now it is running into a brick wall of resistance. On the daily charts, today’s high is coincidently (or not so coincidently) the 20-day SMA and 50% fibonacci resistance of the 118.22-103.50 bear wave. This is also the breakdown […]
DailyFX Forex Radio - US Dollar Continues To Fade, Friday’s US Data Provides Major Event Risk
Thursday, August 23rd, 2007· US Dollar loses steam but faces major event risk on Friday from durable goods and new home sales
· Will a trading anomaly send USD/CAD plummeting?
· Be sure to view the rest of the week’s event risk on the DailyFX Forex Calendar
To discuss these or any other FX topics with the DailyFX analysts, check out […]
Carry Trades and the Dow
Thursday, August 23rd, 2007Since everyone is saying that carry trades are moving in lockstep with the Dow, watching the movement of the US equity index could give us good clues as to whether the yen crosses will turn negative as well. Here is the latest Dow chart. Watch the green line (100-day SMA). If we have a close […]
FXCM’s adding new pairs!
Thursday, August 23rd, 2007We’re now in the process of adding 4 new pairs to trade on certain account types, which will open up exciting new trading opportunities. AUD/CHF is being added to all accounts, while GBP/CAD, GBP/NZD, and USD/DKK are being added to 100k accounts.
I think the most exciting new prospect for me is the GBP/CAD. It has […]
DailyFX Forex Radio - Carry Trades Slowly Pick Up As Equity Traders Gain Confidence
Wednesday, August 22nd, 2007· US Dollar loses steam as carry trades start to pick up, but ranges likely to prevail until Friday
· While Treasuries have taken a hit as well, markets are still expecting a cut by the Fed - what are the possible scenarios?
· Be sure to view the rest of the week’s event risk on the DailyFX […]
Scenario Analysis of What the Fed Could do in Sept
Wednesday, August 22nd, 2007Terri Belkas, one of the Currency Analysts at DailyFX published a fantastic article on what action the Fed could take in September.
Potential Options:
A) 25bp Rate Cut in September, 25bp Rate Cut in October
B) 50bp Cut in September
C) No Rate Cut in September, 25bp Rate Cut in October
Full Article
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