Archive for May, 2009
Next Entries »Short Term Traders: Get Ready for a Big Breakout Soon!
Tuesday, May 12th, 2009If you look at most daily charts, you will see that we’ve had some narrow trading days the last couple of days. That means that there will be a huge breakout coming soon once again…and it should produce some huge percentage movements on the day when it does. So be on the look out and [...]
Oil and the Euro tend to head in the same direction!
Tuesday, May 12th, 2009Today, I couldn’t help but notice that oil is around $59.50! The bottom was put in at around $33. So we’ve almost doubled off of the lows. Why do I mention oil? Because oil and the euro tend to travel in the same direction (over time). This also helps to influence the dollar downward. So [...]
Look for a sizable correction in the yen crosses and dollar pairs!
Monday, May 11th, 2009Well, pairs can’t go straight up forever…and so it is with the yen crosses and dollar pairs. Lately, foreign currencies have been rallying hard especially against the yen but also the dollar. Well, now it’s probably a good time for a sizable correction in the favor of the yen and dollar over the course of [...]
Coming from Stocks…here’s what I appreciate about the Forex Market.
Friday, May 8th, 2009My original background was in stocks. I thought it was the greatest market in the world…and still have long term investments there. However, if you’ve started there, you have a HUGE appreciation for the Forex market. Why? Because you’re able to trade 24 hours a day, not just 6 1/2 hours (during hours when most [...]
Get Ready to Trade today’s NFP Numbers. Also, Canada ADDED Jobs!
Friday, May 8th, 2009Don’t forget that Non-Farm Payrolls comes out this morning at 8:30am EST. Previously, the numbers came in at -663,000 and it’s expected to improve to -600,000 this time. Unemployment, however, is expected to rise from 8.5% to 8.9% this time. Also worthy of noting…Canada just ADDED jobs as their report came out this morning…and their [...]
Low Momentum Begets High Momentum!
Thursday, May 7th, 2009Yesterday was the “ho-hum” day for intra-day traders. However, low volatility begets high volatility. It doesn’t have to occur the very next day…but one thing’s for certain…if there’s low volatility for a period of time, your “radar” should be on alert for the breakout because it will usually be powerful and directional. Today is that [...]
One of those days for the Intra-day trader to stand aside. Here’s why…
Wednesday, May 6th, 2009Today, the biggest gainer on the day is AUD/USD up only 0.80%. So the biggest gainer on the day isn’t even up a full percentage point. The largest loser on the day is EUR/AUD which is down 1%. That’s nothing for that volatile pair. So while there is mild Aussie strength on the day, there [...]
The Yen Rebounds in the Asian session!
Tuesday, May 5th, 2009The yen rebounds and puts most all of the yen crosses at the bottom of the percentage gainers/losers list. AUD/JPY, NZD/JPY, EUR/JPY, CHF/JPY, GBP/JPY and CAD/JPY all tank to the bottom of the pack. The strongest of them is USD/JPY but even it took a hit too. On another note….Australian Retail Sales and Trade Balance [...]
The Effect of Commodities upon Currencies!
Tuesday, May 5th, 2009There are many factors that affect currencies…one of which is the price of things like copper and gold. These both have huge influences on the Aussie dollar in particular. For instance, see the attached chart of the Aussie dollar (black/red candles) and of Copper (black line). Generally speaking, as copper rises, so does the Aussie dollar and [...]
Yen tanks across the board as “risk seeking” returns!
Friday, May 1st, 2009Today, the market is on the “offensive” side and not on the “defensive” side of the market. The yen is being sold “in mass” as NZD/JPY, GBP/JPY, AUD/JPY, CHF/JPY, CAD/JPY, EUR/JPY and USD/JPY all benefit (and in that order too). NZD/JPY is up 1.30% on the day so far. You see, many traders think that [...]
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