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November 30, 2012

Cliff Up. The Broker Call

Filed under: Forex Strategies — Tags: , , — admin @ 4:43 pm

It’s a quiet Friday afternoon and as we know when there is nothing else to yell about “The Cliff” takes center stage. So TMM are anticipating their lines lighting up any moment with brokers yelling their word.

Remember “Word Up”?

Word up (The broker call) 

Yo, pretty clients around the world
Got a disaster for you, so tell the funds and corps
Sell your Brother, your Apple and your S+P too
Cause they’re about to crash down and you won’t know what to do

Wave your hands in the air, it’s a real scare
Scream at your punters as they start to look and stare
Do your dance, do your dance, to make em scared stiff.
Come on baby, tell ’em there’s a cliff.

“Cliff up”, everybody say
When you hear us call, you’ve got sell it anyway 
“Cliff up”, Use the Cliff word 
No matter how you say it, you’ll know that you’ll be heard.

All you sucker bulls who think it’ll fly
There’s got to be a reason but there ain’t no reason why
You try to put on those longs and your fancy calls
But ya got to realize that you’re acting like fools

If there’s panic, we can use it, to pay the rents
We don’t have the time for your common sense
“No ‘greements”, “no ‘greements”, is all we have to yell,  
Come on baby, tell me what’s the word

  The word is SELL

Daily Forex Fundamentals – November 29, 2012

Filed under: Currency Charts — Tags: , , , , — admin @ 1:28 am

What’s on the Economic Horizon

U.S. preliminary GDP report due today!
“Substantial risks” for Switzerland?
Greek debt deal weighs on the EUR

U.S. Dollar (USD)

Lady Luck wasn’t on the dollar’s side yesterday. The Greenback was hustlin’ the euro during the Tokyo and London sessions when it all of a sudden lost its upperhand. EUR/USD then finished the day just 2 pips below its opening price at 1.2932. Read more…

Euro (EUR)

The euro came under selling pressure early in the day on Greek debt deal concerns, but thanks to a last minute rally late in the New York session, it was able to salvage a draw against the dollar. After dipping to as low as 1.2880, EUR/USD ended the day just 2 pips lower at 1.2932. Read more…

British Pound (GBP)

The pound pulled off a nice comeback yesterday, as it fell behind early but recovered late versus the dollar. After trading as low as 1.5962, GBP/USD rallied back and managed to end the day at 1.6016, down just one pip from its opening price. What gives? Read more…

Japanese Yen (JPY)

Yen bulls would probably wake up feeling like P. Diddy today after the currency’s run on the charts yesterday. USD/JPY finished the day lower from its opening price of 82.17 to 81.91. Meanwhile, EUR/JPY closed 36 pips lower at 105.92. Read more…

Canadian Dollar (CAD)

Looks like Loonie traders aren’t quite ready to take the market to new levels! For the third day in a row, USD/CAD traded sideways as the pair found resistance at the .9950 handle once more. When all was said and done, it finished 17 pips lower at .9925. Will it finally break out of its range today? Read more…

Australian Dollar (AUD)

In yo face, dollah! The Aussie surfed up the charts in yesterday’s trading. AUD/USD bounced off support around its Asian lows around 1.0440, finishing the day 27 pips above its opening price at 1.0476. Read more…

New Zealand Dollar (NZD)

Talk about getting over the hump day! After two days of losses, the Kiwi made a strong push yesterday, allowing it erase its previous losses. NZD/USD rallied 34 pips higher to finish at .8237, just above the weekly open price. Read more…

Swiss Franc (CHF)

For the second day in a row, we got some wacky action on USD/CHF. It looked as if the pair was going to shoot higher for new highs, but after topping out at .9342, USD/CHF came crashing back down to its opening price at .9307. Read more…

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

In forex trading, you get better odds at securing pips when your fundamental analysis is complemented by technical analysis.

Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!

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November 29, 2012

Daily Forex Fundamentals – November 28, 2012

Filed under: Currency Charts — Tags: , , , , — admin @ 1:27 am

What’s on the Economic Horizon

Beige Book Set to be Released Today
Mixed Results for Aussie Construction Work
SNB’s Jordan Set to Speak at Forum

U.S. Dollar (USD)

Let’s all give a forex high-five to the scrilla, which edged its way higher in yesterday’s trading matches. After hitting a high at 1.3009, EUR/USD dropped and finished at 1.2934, down 28 pips from its opening price. Meanwhile, AUD/USD closed 52 pips off its high to finish at 1.0448, marking a 10-pip loss for the day. Read more…

Euro (EUR)

Boy, oh boy! Is the euro in for trouble? Despite EU finance ministers finally coming up with a financial deal on Greece, the shared currency finished the day lower against most of its counterparts. EUR/USD ended the day at 1.2934 after opening at 1.2962. Meanwhile, EUR/JPY closed with a 23-pip loss at 106.27. Read more…

British Pound (GBP)

More of the same from the pound! After an entire day’s worth of trading, it ended practically unchanged against the dollar, finishing just 1 pip lower at 1.6017. When will GBP/USD give us something to work with?? Read more…

Japanese Yen (JPY)

Is this the start of a big run for the yen bulls? For the second day in a row, the yen came out on top, as a slight case of risk aversion swept through the markets. EUR/JPY closed at 106.27, down 23 pips from its opening price, while both GBP/JPY and USD/JPY remained unchanged at 131.61 and 82.17, respectively. Read more…

Canadian Dollar (CAD)

Just when everyone thought the Loonie was going to end the day with a win, the dollar stepped up its game and hustled some muscle! USD/CAD was steadily trading lower during the Tokyo and London sessions, tapping a low of .9906, before the pair surged in the New York session and finished the day 5 pips above its opening price at .9942. Read more…

Australian Dollar (AUD)

With no hard data lined up, the Aussie traded to the beat of risk sentiment yesterday. Unfortunately, risk aversion was the name of the game and AUD/USD closed with a small loss. After hitting as high as 1.0490, the pair fell and finished at 1.0448, down 10 pips from its opening price. Read more…

New Zealand Dollar (NZD)

This week is shaping up to be a bad one for the Kiwi. For the second day in a row, it marked losses against the Greenback, as NZD/USD slid 17 pips to .8203. Can it manage to stay above the .8200 handle? Read more…

Swiss Franc (CHF)

Traders finally put a stop to the Swissy’s 4-day winning streak as USD/CHF finally ended the day in the green. The pair traded quietly for the most part, rising gently in the London and New York sessions to finish 20 pips higher at .9308. Read more…

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

In forex trading, you get better odds at securing pips when your fundamental analysis is complemented by technical analysis.

Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!

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November 28, 2012

Knights That Go Yen

Filed under: Forex Strategies — Tags: — admin @ 4:43 pm

Every bar in every town in every wild remote unforgiving desolate landscape has one. No matter how ghostly the neighbourhood, how empty the streets, how dusty the tables and chairs in the room with the cracked panelling, peeling paint, and greased windows, there at the back of every bar will be a sole figure hunched over a laboured glass, stretching time until, like a curious statue, they catch the eye of the poor soul who has just walked in with a medusa stare. The victim’s small vestigial ganglion of primative neurones that is their last chance of escape, cannot muster enough adrenalin to persuade the rest of their stunned nervous system to register blind panic and RUN. It is too late, for soon the creature with the glass will open its mouth and slur in a drawl:


“Did ah tell you about the days I used to run a Hedge Fund?”

There was a show in the UK called the Fast Show and one of the characters was “Archie” he was the UK’s version of the creature described above. And we sorely wish he had been the early 1990s Macro Hedge fund manager…


“Hardest game in the world, yer hedge fund managing. But there was yer glory days too. I can remember when DollarYen used to move. An’ I don’t mean yer poxy little wobbles of today. No. I mean REALLY move. We was all at it in them days, DollarYen that is. 88 to 140 no problem, would ‘appen in an afternoon. We made boat loads. RKO’s was me favourite. Only just come out then an’ no one knew how to price ’em proper and we just took the piss. But it was tough. Lost it all the next week on some correlation trade that didn’t correlate longer than it took me to put the trade on. Hardest game in the world that hedge fund game… Do you want to get me a drink?”

Yes… USD/JPY was the weapon of choice for many an old Hedge fund warrior.

But TMM are detecting a deep infrasound. A low rumble mostly detectable through the feet rather than the ears. And its intensity is growing as USD/JPY climbs higher, accompanied by ghostly clanks of armour and distant warrior cries as the call to arms rejoins across the world, summoning forth the once brave and mighty from their slumbering hollows, bars and Bide-Awee rest homes for Hedge fund managers, to once again rise and fight the old foe… THE YEN.

TMM have been lucky enough to have made decent cash on the move higher since the end of September, but in true dedication to one of their main mottos – “USDJPY will be not be easy” – have taken off most of their exposure, only really having a token position to “intellectually be in it”. The recent commentary from PM-to-be Abe that FX intervention won’t work, and the seeming clarification that a change in the BoJ Law is not in the LDP manifesto have obviously taken some of the shine off the trade. But TMM think it’s a bit more subtle than that as he also continued to pile the pressure on the BoJ to meet a 2% inflation target while arguing for a fiscal response in concert with monetary policy.

Now, orthodoxy would suggest that loose fiscal policy coupled with loose monetary policy in the context of a very poor Balance of Payments position (see chart below) is bad for a currency as expected returns on domestic assets are not enough (as monetary policy prevents them from rising) to bring in capital flows. Similarly, government policies aimed at encouraging domestic investors to send funds abroad for M&A/FDI are keeping the needle pointing away. You don’t need FX intervention to weaken a currency if the fundamentals look like this – it will weaken anyway.

Up until recently, TMM had been sceptical of the “short Yen” trade that has continually confounded punters, partially a result of the fact that US rates are so low. So it is clearly worth questioning why this time is likely to be any different? And TMM reckon that the above alignment of policies mean that domestic investors, hitherto the primary driver of the rates/FX relationship, have less incentive to own Yen as the rates relationship is really a “real rate” relationship – and pushing for a 2% inflation target de jure means a rise in expected inflation and commensurate fall in Japanese real rates. Shirakawa & Co. may not believe that that is possible, but the evidence in the US & UK suggests that aggressive easing has indeed kept inflation expectations high. The other consistent buyer of the Yen – exporters, who have consistently hedged receipts have discovered those receipts evaporating in the face of Korean competition and the need to import energy appearing to have become more structural. TMM must admit to being very surprised that the Nuclear plants have not been quietly switched back on.

It almost seems to TMM as Keidanren have finally spurred The Establishment to accept that protecting The Post Office (and pensions) is no longer as important as the potential collapse of Japan Inc. And if that is so, it would arguably be the biggest change to macroeconomic policymaking in Japan for a decade. Not to be ignored.

However…It is the end of November. And the election is in just over two weeks. The move has been dramatic, and *everybody* TMM speak to loves the trade. Which makes TMM nervous, as profit taking into yearend takes hold, the fact that many structures have been put on such as RKOs which have caused people’s exposure to evaporate and then buy spot at poor levels. And it’s not as if the policy is going to be implemented in two weeks time. TMM therefore reckon that the risk of a Yen washout in the near term probably outweighs the opportunity cost of “missing the move” and have trimmed most of their position, with a view to putting it back on 30th December in anticipation of the traditional piling on of New Year 2013 trades.

—————————————

How it may ultimately end… the script:

George : You fight with the strength of many men, sir Yen.

(The Yen does not respond)

George : I am George, King of the Hedge Funds.

(no response)

George : I seek the finest and the bravest in the land to join me at my family office in New York.

(no response)

George : You have proved yourself worthy. Will you join me?

(no response)

George : You make me sad. So be it! Come, Stanley.

(As George and Stanley start to ride past the Yen, he suddenly speaks)

Yen : NONE SHALL PASS.

George : (taken aback) What?

Yen : NONE SHALL PASS.

George: I have no quarrel with your good support, but I must cross this level.

Yen : THEN YOU SHALL DIE.

George : I command you, as King of the Hedge Funds, to stand aside.

Yen : I MOVE FOR NO MAN.

George : So be it!(draws sword)

(A short battle ensues, where George, relatively unencumbered by regulations and committee mentality, easily dodges the slow and heavy responses of the Yen. Finally, George dodges exporter selling, steps aside, and cuts the Yen’s left arm off with his RKO’s. Profit spurts from the Yen’s open wound.)

George : Now stand aside, worthy adversary.

Yen : ‘Tis but a scratch.

George : A SCRATCH? Your old BoJ governor is off!

Yen : No it isn’t!

George : Well what’s that then? (pointing to Shirakawa lying on the ground)

Yen : I’ve had worse.

George : You LIAR!

Yen : Come on, you low VaR lightweight!

(There follows an even shorter foray, George easily cuts through the Yen’s upper support, causing it and the Yen’s current account to drop to the ground. Profit spatters freely from the stump.)

George : Victory is mine! (kneeling, praying) We thank thee Lord, that in thy mercy– He is kicked onto his side by the Yen.

Yen : Come on, then! (kicks George again)

George : (on the ground) What?!?

Yen : (kicking him again) Have at you!

George : (getting up) You are indeed brave, sir Yen, but the fight is mine!

Yen : Ohhh, had enough, eh?

George : Look, you stupid bastard, you’ve got no exports left!

Yen : Yes I have

George : LOOK!!!

Yen : Just a flesh wound! (kicking George again)

George : Look, STOP that!

Yen : Chicken!!! Chicken!!!!!!!

George : Look, I’ll have your JGBs!

(The Yen continues his kicking)

George : RIGHT!(He chops off the Japanese Post Office with his sword)

Yen : (hopping) Right! I’ll do you for that!

George : You’ll WHAT?

Yen : Come ‘ere!

George:(tiring of this) What’re you going to do, tax me to death?

Yen : I’m INVINCIBLE!!!

George : You’re a looney….

Yen : No I’m a Yen and The Yen ALWAYS TRIUMPHS! Have at you!! (hopping around, trying to kick George with his one remaining leg)

(George shrugs his shoulders and, with a mighty swing, removes the Yen’s last limb. The Yen falls to the ground. He looks about, realizing he can’t move.)

Yen : Okay, we’ll call it a draw.

George : Come, Stanley!(they “ride” away)

Daily Forex Fundamentals – November 27, 2012

Filed under: Currency Charts — Tags: , , , , — admin @ 1:28 am

What’s on the Economic Horizon
U.S. durable goods orders to decline in Oct?
U.K. revised Q3 GDP due today

U.S. Dollar (USD)

The Greenback’s performance was as mixed as a bag of nuts as it ended higher against the pound and Loonie, closed lower than the Kiwi and yen, and had a stalemate with the Aussie and euro. Will it be able to find a clearer direction today? Read more…

Euro (EUR)

Not much action on euro pairs to start the week. While traders awaited the official decision on Greece’s debt deal, the shared currency showed little activity and spent most of the day trading sideways. In fact, at the end of the day, EUR/USD finished right where it began at 1.2961. Read more…

British Pound (GBP)

With no data on tap, GBP/USD pretty much stuck within range to start the week. After trading as low as 1.5996 , GBP/USD eventually closed at 1.6017, down just 12 pips from its opening price. Read more…

Japanese Yen (JPY)

The Japanese yen did a Chumbawamba yesterday as it got knocked down but got up again, even managing to end the day higher against its major counterparts! USD/JPY dipped below the 82.00 handle then closed at 82.17 while EUR/JPY snapped its losing streak and ended the day at 106.50. Read more…

Canadian Dollar (CAD)

Looking at USD/CAD, you’d think that nothing important happened in Canada yesterday… but boy would you be wrong! The pair closed just 9 pips above its opening price at .9938, but the big news is that BOC Governor Mark Carney was named the next BOE Governor. Yowza! Read more…

Australian Dollar (AUD)

It’s a standoff, ladies and gents! The Australian dollar refused to give way to the U.S. dollar in yesterday’s trading, causing AUD/USD to close right where it opened at 1.0458. Which way could it go today? Read more…

New Zealand Dollar (NZD)

Just like the rest of the comdolls, NZD/USD trading was pretty much subdued, as we didn’t get see any rim-rocking news yesterday. Could that all change today? Read more…

Swiss Franc (CHF)

Looks like USD/CHF traders had the Monday blues, as we barely saw any movement on the Swissy! The pair traded within a range of just 25 pips, finishing at .9288, just 4 pips lower on the day. Could we see more the same today? Read more…

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

In forex trading, you get better odds at securing pips when your fundamental analysis is complemented by technical analysis.

Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!

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November 27, 2012

Daily Forex Fundamentals – November 26, 2012

Filed under: Currency Charts — Tags: , , , , — admin @ 1:27 am

What’s on the Economic Horizon

EU Budget Plans Postponed Till 2013
Swiss Employment Figures Due Today

U.S. Dollar (USD)

Were all the U.S. traders off shopping? Because we got a major SALE to end last week! I ain’t talking about Black Friday sales though, I’m talkin’ about the sell-off on the Greenback, baby! Read more…

Euro (EUR)

The euro was a huge hit on Black Friday as euro bulls bought up the currency until EUR/USD closed 29 pips shy of the 1.3000 handle. EUR/JPY also had a stellar rally as it closed more than 40 pips above its 105.79 open price. Read more…

British Pound (GBP)

There goes the 1.6000 handle! For the first time in weeks, GBP/USD ended the day above 1.6000 as risk appetite led price to break above this major psychological level. To end the week on a high note, the pound gained 96 pips against the dollar, taking the pair to 1.6032 before the weekend. Read more…

Japanese Yen (JPY)

There just ain’t no mercy for the yen, is there? Once again, the yen was one of the biggest losers in the forex market, as it dropped for the 9th time in the past 10 trading days. GBP/JPY rose 63 pips to finish at 132.10, while EUR/JPY ended the day at 106.88, up 68 pips from its opening price. Read more…

Canadian Dollar (CAD)

The Loonie had a lot to be thankful for last Friday as it capped the trading week with a strong rally against the Greenback. USD/CAD broke below the .9950 minor psychological support and dipped to a low of .9915, before ending the week at .9927. Read more…

Australian Dollar (AUD)

The Aussie bulls hanged ten on Friday, as they rode a strong wave of risk appetite to end the week. AUD/USD finished 71 pips higher at 1.0458, hitting two-week highs. Could this be the start of a bullish run back up to the 1.0600 handle? Read more…

New Zealand Dollar (NZD)

That broad-based boost in risk appetite last Friday was just what the Kiwi needed to break above .8200! After struggling to cross above the said level for the past two weeks, NZD/USD finally mustered the strength to rally to a new high as it climbed 89 pips to .8241. Will it continue up the charts this week? Read more…

Swiss Franc (CHF)

It looks like the Swissy saved the best for last! After chalking up solid gains against the dollar from Monday through Thursday, it ended the week with its most impressive performance, taking USD/CHF down another 67 pips to .9284. Read more…

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

In forex trading, you get better odds at securing pips when your fundamental analysis is complemented by technical analysis.

Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!

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November 24, 2012

Building Your Watchlist: How to dismiss a pair from consideration.

Filed under: Currency Charts — Tags: , , , , , — admin @ 3:40 am

Part of my weekly, daily, even intraday routine is focusing ONLY on those pairs that I am interested in setting up a trade in. Focusing on the unnecessary is not only distracting...it’s unnecessary!

Learning what makes a pair less desirable to trade is a skill that every trader must know and with that in mind here’s a video I recorded today on that very topic.

This video runs just over five minutes and if you like it and want to learn MORE I have a cool proposal for you:

I am helping raise money for Donors Choose which helps build better high school classrooms. Until MIDNIGHT PDT TONIGHT if you buy a copy of “The Four-Hour Chef” which is a “cookbook” that is actually a book that teaches you how learn by deconstructing any skill so that you can learn it faster the author will donate all his royalties to Donors Choose and I WILL INVITE YOU TO A FOUR-HOUR, INTENSIVE WEBINAR that will teach you how I trade forex and futures, choose stocks, build my portfolio, as well as how and when I use options to control risk and take advantage of volatility (and a whole lot more than just that!) So if you are interested in getting an awesome book that breaks the mold on just about any book on learning I have ever read, helping a great cause, and joining me for a four-hour webinar on how I trade ANY market click here. But you must do so by Midnight tonight.

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Daily Forex Fundamentals – November 23, 2012

Filed under: Currency Charts — Tags: , , , , — admin @ 1:27 am

What’s on the Economic Horizon

Japan to celebrate Labor Thanksgiving Day
German Ifo Business Climate seen at 99.6
No changes expected in Canadian CPI

U.S. Dollar (USD)

When U.S. traders are away, dollar sellers will play! While U.S. banks were closed in celebration of Thanksgiving Day, sellers had their way with the dollar, dumping the American currency and causing it to weaken against all of its major counterparts except for the pound and Loonie. Read more…

Euro (EUR)

Looks like the euro bulls have plenty to be thankful for, as it beat the stuffing out of its major counterparts. EUR/USD rose to as high as 1.2900 before finishing at 1.2883, up 59 pips on the day. Meanwhile, EUR/JPY edged 41 pips higher to end at 106.20. Read more…

British Pound (GBP)

And the pound’s winning streak comes to an end! After rallying for four consecutive days against the Greenback, the pound ended the day in the red as GBP/USD closed at 1.5936. GBP/JPY also had its share of losses as it closed at 131.37. Read more…

Japanese Yen (JPY)

It was a day of mixed results for the yen. While it managed to stop the bleeding against the dollar, it couldn’t help but weaken further versus the euro. USD/JPY ended 5 pips lower at 82.44 after trading as high as 82.85, while EUR/JPY rallied 41 pips to a new 6-month high at 106.20. When will yen sellers finally run out of steam? Read more…

Canadian Dollar (CAD)

Zzzzzz…. With no major data released, USD/CAD stayed in consolidation mode, bouncing within a range of just 30 pips. Will we see more of the same to end the week? Read more…

Australian Dollar (AUD)

AUD/USD took traders on a topsy-turvy rollercoaster ride, climbing to a high of 1.0402 and dipping to a low of 1.0352, only to end the day 1.0387, just 23 pips above its opening price. Will it give us another wild ride today? Read more…

New Zealand Dollar (NZD)

After a bit of a tussle, the Kiwi managed to outpace the Greenback in yesterday’s trading as NZD/USD closed at .8152, 15 pips higher than its .8137 open price. Will it be able to hold on to its gains today? Read more…

Swiss Franc (CHF)

As though a day’s worth of winnings ain’t enough, the Swissy extended its rally against the Greenback and scored another set of wins yesterday! USD/CHF started the day at .9389 and closed at .9351. Will its good streak come to an end today? Read more…

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

In forex trading, you get better odds at securing pips when your fundamental analysis is complemented by technical analysis.

Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!

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November 23, 2012

Daily Forex Fundamentals – November 22, 2012

Filed under: Currency Charts — Tags: , , , , — admin @ 1:27 am

What’s on the Economic Horizon

U.S. Traders Celebrate Thanksgiving Day
Canada’s Retail Sales Data Due Today

U.S. Dollar (USD)

Ka-blam! Except for the yen, the major currencies slammed the Greenback down the charts yesterday. EUR/USD blasted above its 1.2800 resistance while USD/CHF fell from an intraday high of .9459 and closed at .9389. Ouch! What the heck happened? Read more…

Euro (EUR)

It’s in the green, folks! After ending the previous day in a stalemate against the Greenback, the euro was able to push for some gains yesterday, with EUR/USD closing at 1.2824. EUR/JPY was able to extend its winning streak to 3 days as it ended the day at 105.79. Read more…

British Pound (GBP)

And the pips just keep coming! For the fourth day in a row, the pound had its way with the dollar, as GBP/USD rose 33 pips to end at 1.5949. Can it keep its streak intact? Read more…

Japanese Yen (JPY)

Yowza! The yen continued its losing streak yesterday as Japan printed weak economic reports. USD/JPY shot up by 78 pips while EUR/JPY enjoyed a nice 114-pip rally. Is the yen starting to trade on fundamentals? Read more…

Canadian Dollar (CAD)

Way to go, Loonie! The Canadian currency was able to snag some gains against the Greenback yesterday, allowing USD/CAD to close at .9966. Will the Loonie be able to hold on to its recent winnings? Read more…

Australian Dollar (AUD)

Down for another day! With no major economic data coming out from Australia, the Aussie bulls and bears concentrated on risk sentiment. AUD/USD ended the day 7 pips lower than its open price after spiking in both directions. Read more…

New Zealand Dollar (NZD)

The Kiwi was one of the few currencies that was on the wrong end of the pip-parade yesterday, as NZD/USD slipped 17 pips to .8138. Let’s see if it’ll hop on over to the winning side today! Read more…

Swiss Franc (CHF)

Now that’s what I call a comeback victory! The Swissy looked as though it was gonna end the day with a huge loss against the dollar, as USD/CHF climbed to as high as .9459 in the Tokyo session. But once the London session kicked in, sellers took control and dragged the pair all the way down to .9389! Read more…

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

In forex trading, you get better odds at securing pips when your fundamental analysis is complemented by technical analysis.

Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!

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November 22, 2012

Daily Forex Fundamentals – November 21, 2012

Filed under: Currency Charts — Tags: , , , , — admin @ 1:27 am

What’s on the Economic Horizon

MPC meeting minutes to shed light on monetary policy outlook
U.S. initial jobless claims seen at 415K

U.S. Dollar (USD)

The dollar did a pretty good job at holding its ground – it ended the day virtually unchanged against the euro, while gaining 36 pips against the yen. Will dollar bulls finally take control today? Read more…

Euro (EUR)

Despite the potential market-moving reports that popped up yesterday, it’s all very ho-hum in the euro region. The common currency ended the day almost unchanged against the Greenback, while it ticked 46 pips higher against the yen. What happened to those reports? Read more…

British Pound (GBP)

The pound managed to sneak in a few gains against the Greenback yesterday as GBP/USD closed 13 pips above its 1.5903 open price. GBP/JPY had its fair share of winnings as it ended the day 5 pips above the 130.00 handle. Read more…

Japanese Yen (JPY)

Once again, the Japanese yen failed to record wins against its major counterparts, even though the BOJ decided to keep its hands in its pockets in its latest rate decision. USD/JPY rose 36 pips to end at 81.71, while EUR/JPY climbed 46 pips to 104.65. When will the bleeding stop?? Read more…

Canadian Dollar (CAD)

Looks like the Loonie bulls took a breather from their cause yesterday when they let USD/CAD rise 16 pips higher than its open price. Read more…

Australian Dollar (AUD)

No bullish waves to ride this time! The Aussie found itself drowning against the Greenback, as the RBA monetary policy meeting minutes killed demand for the high-yielding currency. After reaching an intraday high of 1.0425, AUD/USD sank to 1.0371, down 38 pips on the day. Read more…

New Zealand Dollar (NZD)

Not so fast, little one! Although the Kiwi gapped higher against the Greenback over the weekend and followed through with a strong rally, NZD/USD erased some of its recent gains yesterday and closed at .8155. Was that just a pullback? Read more…

Swiss Franc (CHF)

It’s a stalemate, folks! The Swiss franc ended the day practically unchanged against the Greenback as EU finance ministers seem to be at a gridlock with their decision on Greece. USD/CHF ended the day at .9406, just a couple of pips up from its open price. Which way will it go today? Read more…

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

In forex trading, you get better odds at securing pips when your fundamental analysis is complemented by technical analysis.

Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!

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