Forex Signals

Gold Trading Analysis
Reversal At 61.8% Fibonacci Retrace

Gold (daily chart shown below) has printed the largest single day decline in over 4 weeks and dropped one percent after the strong U.S. NFP data killed near term expectations of additional financial stimulus from the FED.  This has seen the formation of a bearish engulfing candle on the daily [...]

Source: ForexYard

The USD came off a six-week high against the euro in trading today, after news that Greece had once again failed to come to reach a debt swap deal with its creditors. Earlier in the day, the EUR/USD reached as high as 1.3231 before investors began selling off the pair. The AUD/USD [...]

The greatest pleasure in life is doing what people say you cannot do. ~ Walter Bagehot Good morning. Dollar keeps losing altitude as the correction continues, while risk-sensitive pairs follow stocks higher. Important releases today are the CPI and Initial Jobless Claims (See FX Calendar) USD Index Now that 81 has been breached, next downside barrier [...]

It’s just a correction folks, keep walking, nothing to see here. The uptrend is still intact.

But for your doubters, let’s take a closer look.
The first view is the “market memory” or “lookback” – just two words that mean the same thing that I use to describe when I my chart view includes the complete amount [...]

Quote of the day: “It is hard to fight an enemy who has outposts in your head.” ~ Sally Kempton Good morning. The dollar pulled back across the board but remains bullish against some of its major counterparts such as EUR, GBP, AUD etc. Today’s Calendar is lighter if we don’t count the imminent end of the [...]

Quote of the day: “There’s no sense in being precise when you don’t even know what you’re talking about.” ~ John von Neumann Good morning. The euro is climbing towards Friday’s top as the leaders of France and Germany said they have reached an agreement on strengthening Europe’s banking sector – and the European leaders [...]

Quote of the day: “Never trouble another for what you can do for yourself.” ~ Thomas Jefferson Good morning. The dollar pulled back yesterday, forming several reversal signals across the board as everything is correlated these days. Yesterday’s setups are still in play although most of them don’t look as good as I wanted yet, but it’s [...]

XAU/USD 7/9/11
Gold has dropped today as global equity markets rallied and a “risk on” sentiment prevailed.  Our analysis yesterday called for a short term drop after a new record Gold price high was printed and the RSI 14 formed a divergence on the daily chart.  The CME’s recent increase in Gold trading margins could also [...]

Last week, I was preparing to write a post about how the British pound was overvalued and due for a correction, but was sidetracked by a series of interviews (the second of which – with Caxton FX – incidentally also hinted at this notion). Alas, the markets beat me to the bunch, and the pound [...]

Quotable
“The slenderest knowledge that may be obtained of the highest things is more desirable than the most certain knowledge obtained of lesser things.”
                                          Saint Thomas Aquinas

Commentary & Analysis
Some rationales for a deeper commodities correction
There seems to be a scramble afoot to define exactly why commodities plunged across the board the other day. Some blame a big [...]