Archive for the Trade Ideas Category
EUR/USD Limit Buy at 1.4245
By Forex District – ‘At today’s meeting the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 1.00%, 1.75% and 0.25% respectively,’ the Bank of England. ‘The President of the ECB will [...]
EUR/USD Key Support at 1.4170
By Forex District -The pair is higher but still trades in a tight range as traders are unwilling to take decisive measures as earnings continue to be delivered. EuroZone economic releases were quite positve signaling stabilization is under way. The German Ifo business climate came in at 87.3, higher than the 86.6 expected and the [...]
Trade Idea: GBP/USD Limit Sell at 1.6465
By Forex District – The pair fell sharply as the IMF warned UK on public borrowing and was downbeat on the growth outlook. The IMF said, “the economic downturn heightening the risk of further large credit losses, banks have tightened the supply of credit. The high level of household indebtedness is also likely to constrain [...]
EUR/USD Limit Sell at 1.4170
By Forex District – The pair is slightly higher but having a hard time above 1.4000. The Euro rose ahead of the German ZEW economic sentiment as risk appetite spurred demand for the currency and investors anticipated an advance in the index. However, the pair dropped around 30 pips as the data came in much [...]
Technical Analysis USD/JPY – July 13, 2009
By Forex District – USD/JPY Open 92.40 High 93.18 Low 91.72 Close 92.52 On Friday Dollar/Yen continued descending. The currency couple made a peak at 93.18, than collapsed down to 92.02, closing the week higher at 92.52. The longer the pair stays under 92.50, each upward movement is considered as a normal correction, and our [...]
AUD/USD Trade Idea
By Forex District – The pair is falling on heightened risk aversion after the U.S. NFP report showed broad based job cuts and weaker wage growth. Worries about the pace of economic recovery has also weighed on sentiment ahead of company earnings. Stocks have been trending lower on Monday and the pair is expected to [...]
Wednesday AM Comments and Levels
Technical Levels for certain currency pairs EUR/USD: Presently trading at 1.4064 bid Resistance levels at 1.4092 and 1.4150. Support levels at 1.3975 and 1.3920 We favor short EUR/USD positions. USD/JPY: Presently trading at 96.88 bid Resistance levels: 97.15 and 97.60 Support Levels: 96.20 and 95.50 Pair is currently (96.88) right at an inflection point with [...]
Friday Morning Thoughts
We are nearing the end of a very volatile week in the currency markets. Trying to find a big figure or two has been nearly impossible except for this past Monday. We are sticking with our theory of stronger USD for the coming weeks based on the US Fed’s statement this past Wednesday. (See our [...]
Safety Position – Short EUR/CHF into the Weekend
The chances of a direct conflict between the US and North Korea are escalating. The US Navy is reportedly following a North Korean ship through international waters. Under recent UN sanctions, the US could request to board and search the vessel. North Korea would certainly not allow this to happen. Also, North Korea has promised [...]
Short Term Trade Idea – Long EUR/USD
In the below image, we put a EUR/USD 30 minute chart overlaid with our standard Bollinger Bands (“BB”). We see higher lows for the last 16 hours and a fairly tight channel moving higher. The risk/reward scenario seems to be pointing towards the 1.4000 level last seen yesterday. We suggest a Buy Limit order just [...]
