Archive for July, 2010
« Previous EntriesCheck out what’s going on in Forex today!
Friday, July 30th, 2010Once again we are fortunate to have Abe’s insight into the Forex market. Enjoy!
This Friday morning we have some important patterns emerging. I like to form a daily outlook using a 4 Hour chart because it provides a good combination of “big picture” perspective as well as enabling our “thumbs on the pulse” of the […]
Abe’s Daily Outlook
Thursday, July 29th, 2010Abe Cofnas has been analyzing the Forex market for years. Here is his outlook for today’s action in the Forex market.
USDCHF - This pair is in a retracement from a low of 1.0396 to a high of 1.0641. It is probing a 50% retracement level. A break of 1.0518 is a key support point. A […]
Abe’s Trading Tip: 2 are better than 1
Wednesday, July 28th, 2010Here is a simple trading tip that is provided by our guest contributor and professional trader Abe Cofnas
Among technical indicators, Bollinger Bands is one of the most famous as well as useful. Basically, a Bollinger Band is a statistical bell curve. Each band represents a standard deviation distance from a moving average. The standard setting […]
Market Surfing!
Tuesday, July 27th, 2010Now may be the time to “ride the wave” in the markets as the major news of the summer, the Euro bank stress tests, were received positively by the market. Yesterday I commented on the credibility of those tests, and reminded readers to follow the market rather than impose their own view.
So far this morning […]
Suspend Your Disbelief!
Monday, July 26th, 2010One of the things I mentioned on Friday with regard to the European bank stress tests is that they had to be believable. The results came in on Friday and by and large were viewed as positive by the market. There was some interesting volatility in the forex market, as the news trickled in and […]
Judgement Day!
Friday, July 23rd, 2010Today is the release of the much-anticipated results of the European bank stress tests, which are due out at 12 EST. There has been much speculation surrounding the tests, which are intended to provide clarity and transparency into the health of the European banking system.
Much of the recent rhetoric leading up to the tests has […]
Unusually Uncertain!
Thursday, July 22nd, 2010Those were the comments that were made by Fed Chairman Bernanke at yesterday’s testimony to Congress in describing his current view of the economy. This sent the market into a bit of tizzy, causing a sell-off in stocks and creating Dollar strength.
However this morning the markets are riding higher on the back of good US […]
Who’s Stressed?
Wednesday, July 21st, 2010Well apparently it’s not the ECB. However the market is a bit more concerned about the results of the bank stress tests which are due out on Friday. The Euro is lower this morning as ECB President Trichet is having a “behind closed doors” meeting with the banks in question today, presumably to get everyone […]
Japanese Intervention?
Tuesday, July 20th, 2010This morning, the Japanese yen is lower despite the fact that US corporate earnings are lower this morning, sending stock futures lower. Under a “normal” risk-aversion scenario, we would be seeing Yen strength, however there is some speculation in the marketplace that Japan is getting ready to intervene in its currency as recent Yen strength […]
Trading Tips from Abe Cofnas
Monday, July 19th, 2010After more than 2 decades of trading forex and training students around the world, it still amazes me when I see some trading tactics. Trading forex involves some skills in fundamental thinking, technical analysis, but most importantly -common sense. The latter is the most difficult. Let me cite an example that happens […]
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