Archive for June, 2009
« Previous EntriesHow to Spot a Longer-Term Trend!
Tuesday, June 30th, 2009When I’m teaching my courses each day, I get this question quite often. So I thought I’d share it here with you too! How in the world do you know how to spot the long term trend? Well it’s really simple.
First, you should pull up a daily chart that goes back in time at […]
Dollar & Yen continue to fall as Volatility (VIX) does the same!
Monday, June 29th, 2009As the VIX (Volatility Index) continues to drop in the stock market…it shows that the fears are subsiding and that traders believe that the worst is over. This sentiment is helping money to pour out of the dollar and yen today and into foreign currencies like the Aussie and pound today. As a side note…EUR/CHF […]
Summer Trading Technique!
Monday, June 29th, 2009In the summer, all financial markets havea tendency to die down and become more calm. Why? Because the very biggest of traders tend to take long summer vacations. In fact, many of the biggest traders may be out the entire summer (in stocks, forex, etc.). They will leave only “junior traders” on their trading desks […]
China “dogs” the Dollar by once again calling for a “Super-Sovereign” World Reserve Currency!
Friday, June 26th, 2009Well, China is at it again. They’re calling for a “super-sovereign” world reserve currency. Lately, they’ve invested more in IMF bonds, IMF SDRs (Special Drawing Rights), etc. They’ve even been diversifying into commodities and commodity companies too. All of these things are bad news for the greenback! Therefore, it’s taking it on the chin once […]
The Swiss Flex their Muscles and put Short Sellers in the “House of Pain”!
Thursday, June 25th, 2009The Swiss just intervened in their currency!
Glad I had my entry order in, waiting on it. I woke up the next morning and I was filled on the order and was up over 260 pips! That’s huge for a pair that typically moves about 80 pips in any given 24 hour period!
Check out what intervention […]
Text from the FOMC Meeting!
Wednesday, June 24th, 2009Information received since the Federal Open Market Committee met in April suggests that the pace of economic contraction is slowing. Conditions in financial markets have generally improved in recent months. Household spending has shown further signs of stabilizing but remains constrained by ongoing job losses, lower housing wealth, and tight credit. Businesses are cutting […]
When Support becomes Resistance!
Wednesday, June 24th, 2009In my previous note today I mentioned that this morning was down for the Euro. As I was going through my charts I noticed something significant on EUR/USD. Earlier this month, I pointed out a technical pattern on this currency pair known as a “head and shoulders” pattern. The premise of the pattern is that […]
Tough morning for the Euro!
Wednesday, June 24th, 2009The Euro is down this morning against all of the major pairs this morning except one, the Swiss franc (CHF), and Sean Hyman explained that situation in his blog yesterday. This morning, the EUR is falling because the OECD, the Organization for Economic Cooperation and Development called for an ECB rate cut to help fight […]
The Dollar broadly breaks lower once again!
Tuesday, June 23rd, 2009Quick note: You can see from this U.S. Dollar Index 4 hour, 40 day chart that the pair has broken below its sideways range and is continueing to downtrend. Therefore, this is pushing most major currencies upward against it. Click on the chart to enlarge it.
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Will the Swiss Central Bank’s Intervention hold?!?
Tuesday, June 23rd, 2009Lately, the Swiss National Bank (their central bank) has been intervening in their currency in particular vs. the euro. When the EUR/CHF exchange rate pushed below 1.45, their exporters were screaming from pain. This was crushing their exporters and thus far has reduced exports by a full 17%. The SNB had enough of it and […]
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