By Joel Kruger – The cross has been confined to a well defined range trade since early April with the market loosely trading between the 1.5000-1.5250. The way to play this type of price action is generally to look to buy on dips towards the range lows and rallies back to the range highs. One indicator that often proves to be a good entry signal provider for range bound markets are Bollinger Bands.
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By Forex District – This article outlines the hidden issue in a strong trending market and provides trading “re-programming exercises” to assist with overcoming trending bias when market changes direction. As all good traders know, the trend is your friend, right? You bet! Catching the waves of momentum in the underlying trend direction...
By Forex District – Asian stocks fell following the moves from Wall Street prompting investors to exit riskier trades. The Yen was the biggest beneficiary as it gained ample ground against higher yielding currencies. Weaker than expected data and fears that the recent moves in financial markets may have been overdone spurred a flight into ......
By FXstreet – The Pound is now recovering after falling against the Dollar. During the American session the pair reached an intra-day low at 1.6240. From there the pair recovery finding resistance at 1.6300. So far today GBP/USD has fallen 0.80% from the opening price. Cable is also weaker against the Yen. GBP/JPY has fallen ... ...
Last week we posted three comments on specific moves in the currency markets, and one commentary regarding US Treasury Yields. Our posting from June 8 that the next large move in GBP/JPY would be lower has yet to work out. We thought then that the technicals of the pair were leaning towards a gentle roll-over ... ...
By ForexDistrict – Gold is trading at $930 as of 9:13am, London Time. Gold’s Pool-Position is 32% Long, meaning that most Finotec clients are selling the precious metal. Gold declined against the Dollar as a rallying greenback eroded interest in the precious metal. The greenback gained against most of the major currencies after Russia’s F...
By Forex District – The Dollar advanced across the board as investors locked in profits ahead of this weekend’s G8 Finance Minister’s meeting. There could be a great deal of information and statements released over the weekend that could potentially impact the short term moves in the Forex market. However, there is not much expect...
By Adam Kritzer – On June 1, the Forex Blog reported that Brazil is considering a forex tax on capital inflows as a way of discourage the inflow of speculative capital that is causing the Real to appreciate. It turns out that Brazil is not alone; England and France, among others, are also mulling taxes ... ...
By – Forex District USD/JPY Open 97.65 High 98.43 Low 97.35 Close 97.61 Dollar/Yen made an insignificant downward movement yesterday. This confirms the consolidation phase of the currency couple and the unclear movement direction, till trading range is within the triangle formation on the 1 hour chart. Immediate support is 97.25, followed by ...
By Back Bay FX – EUR/USD has just broken through the bottom it’s recent support line (noted in BLUE on the below image). The start of that support is the same level (1.3780 – 1.3800) as we say as a launching pad for EUR/USD back in late May (see BLUE circle on below image.) We ... ...