Archive for June, 2009
Next Entries »Technically trade the best “fundamental” currencies. Which one’s on top?
Wednesday, June 10th, 2009Australia…why? It has the highest interest rate of any major industrialized nation (3%…next highest, New Zealand @ 2.5%). It has the next to highest inflation rate which will help ensure high rates that go higher over time (2.5% year over year (New Zealand is on top, with 3%)). Australia really stands out on this next [...]
Why the Canadian dollar is so “Loonie”!
Tuesday, June 9th, 2009They say they call the Canadian currency the “Loonie” because of their bird called the “Common Loon”. However, while that’s technically correct, I think that it’s called the “Loonie” because it’s kind of “bi-polar”. Ha-ha! You see there are two major “pulls” on the Canadian economy. One of them is the “pull” that commodities have [...]
The dollar is on the fence. Could tip either way shortly!
Monday, June 8th, 2009When you look to currency pairs like EUR/USD and USD/CHF, you’ll see that the dollar is right on the trend line on the daily chart. It’s threatening to break down on EUR/USD and break upward on USD/CHF…but the question is: Is it a fake out? Or will these recent trend changes stay intact? We’ll know [...]
Anatomy of a Trade!
Friday, June 5th, 2009Yesterday I talked about common trading patterns and why they are important to know. I also talked about looking at the news and why that is so important. Today is a perfect example of this. As you may have learned from Sean Hyman’s blog below, today is NFP day! Without rehashing the details of what [...]
What is the biggest “market moving event” of the month typically?
Friday, June 5th, 2009NFP: Non-Farm Payrolls in the U.S. This event draws traders like bugs to a light. However, it’s not always the most prudent thing to trade, especially for newer traders. Why? The volume can be thin before and during the event and even up to about 30 minutes to an hour or so afterwards. You see, the [...]
Be aware of news events, even if you’re strictly a technical trader!
Friday, June 5th, 2009Whether you’re a news trader…or a fundamental trader…or a technical trader (and don’t so much care about the news or fundamentals), you’d still better be aware of what’s happening and when it’s happening. Why? Because you can get caught off guard if you’re not careful and a pair will spike very hard within minutes and [...]
Know your Patterns!
Thursday, June 4th, 2009As currency traders, it is extremely important to know technical patterns. Especially if one plans to trade in shorter-term time-frames. Yesterday I wrote about looking at different time-frames and finding trades that I may not otherwise know existed. And this part of my daily routine. Allow me to explain. Every morning when I begin my [...]
Trading in Different Time-Frames!
Wednesday, June 3rd, 2009When trading different currency pairs, it is important to be aware of the time-frames you are trading in so that you can take advantage of different moves. Today is a perfect example of this scenario. So far this AM’s biggest losers are the commodity currencies. The Aussie dollar (AUD), Canadian dollar(CAD), and New Zealand dollar [...]
Another bullish sign for Australia as it held rates steady last night at 3%!
Tuesday, June 2nd, 2009Australia just impresses me. After all, they hadn’t had a recession for the 18 previous years to this present one…and it took an entire global slowdown in order to even pull them into a shallow recession. Almost everyone else had to bring their interest rates back towards zero while Australia (and New Zealand) were able [...]
As the Yen plummets, it pushes the Yen Crosses to the Top of the % Gainers today!
Monday, June 1st, 2009GBP/JPY is up 3.06% today…leading the way. Then the commodity crosses all come next…NZD/JPY, AUD/JPY and CAD/JPY. So the commodity currencies vs. the yen theme also continues on. This has been a theme lately that has brought me quite a bit of profit. I hope it has for you as well. Remember as “good times” [...]
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