Archive for July, 2009
« Previous EntriesWhich is more important? Trend direction or Support/Resistance?
Friday, July 31st, 2009Many traders grapple with this all the time. To me it’s clear. The “trend is the trend” because it continues on and blows through supports in a downtrend and resistances in an uptrend.
A current example of this is AUD/USD. Get ready for the AUD/USD to break higher as the “bottom and top pickers” try to […]
How to decide on which currency pair to trade: EUR/USD or GBP/USD
Thursday, July 30th, 2009Many times, traders wonder “which pair is the better pick”. I say, let the charts decide it for you and take all of the guess work out of it.
Since both the EUR/USD and GBP/USD have the USD in common, their differences are EUR and GBP. So if we got a “dollar move” they’re both going […]
EUR/CHF launches another 60+ pips and counting!
Thursday, July 30th, 2009Yesterday, I wrote an article and did a YouTube video for our partner, mywealth.com. Since the release of that article, EUR/CHF has launched forward another 60+ pips and counting. It’s literally hitting new highs as of this writing.
To view the full article and video, check it out here: http://www.mywealth.com/blog/post/potentially-safest-forex-play-entire-fx-world
Enjoy!
Sean Hyman
www.forextradingblog.com
Tags: article, blog, CHF, EUR, forex, […]
AUD/USD broke higher as expected!
Tuesday, July 28th, 2009AUD/USD broke higher as expected. It’s superior fundamentals have continued to cause it to head higher, especially when directly compared to the weak fundamentals of the U.S. and its dollar.
See the comments from RBA Governor Stevens below:
Reserve Bank of Australia Governor Glenn Stevens struck a decidedly hawkish tone at a speech in Sydney, driving […]
AUD/USD prepares to bolt higher!
Monday, July 27th, 2009Trend trumps support/resistance! As you can see on the chart below, the trend’s direction is THE most important thing (green moving average line). The uptrend has prevailed through many black resistance lines before and it’s about to do it again, after a resting/consolidation phase.Click on the chart to enlarge it.
Aussie’s inflation is still high…it’s […]
It appears the Swiss keep “raising the floor” on the EUR/CHF trade!
Friday, July 24th, 2009Okay, I realize that this isn’t the only pair out there. However, it is likely the ideal candidate right now as it likely has much more upside potential than downside due to the constant intervening of the SNB - Swiss National Bank (Switzerland’s central bank).
Also, keep in mind, the trend is now upward recently…and no […]
The key level to watch on EUR/CHF!
Thursday, July 23rd, 2009Be sure to watch the 1.5220 region of resistance. Once this is cleared (and it won’t be long), then we’ll likely start the next “up leg” of the uptrend. Click on the chart to enlarge it.
The improvement in the global economy recently will only help this carry trade pair. Recent buying in the EUR/USD […]
Buy EUR/CHF in newly established uptrend with “blessing” of the Swiss central bank, while earning daily interest too!
Wednesday, July 22nd, 2009The best of all worlds…
Trade a pair that recently broke into a new uptrend. Trade it because the Swiss are intervening in their currency to weaken it and boost the EUR/CHF pair. Trade it to earn intereest daily with little downside likely.
Take your pick, on your reasoning…personally, I trade it for all three reasons. Click […]
Canadian Interest Rate Decision, Bernanke Testimony & Australian CPI…all important today!
Tuesday, July 21st, 2009The Canadian rate decision will be out at 9am EST today. It shouldn’t be anything “earth shaking” with such low rates already. However, what could be…are any comments that they make. So have your ear atune to that.
Bernanke will testify at 10am EST today. Oh, he’s going to tell us how he’s going to be […]
Bloomberg Forecasters Agree with my EUR/CHF position!
Monday, July 20th, 2009
Today I just wanted to share a piece of a Bloomberg.com article with you that backs up my view in “selling francs” along with the central bank when you buy the EUR/CHF pair.
Here’s what they had to say about it:
July 20 (Bloomberg) — Switzerland’s central bankers are breaking the will of […]