Forex Signals

Talking Points

    U.S. Dollar: Index Threatens Downward Trending Channel, Labor Force Continues To Shrink
    Euro: Carves Out Lower Top, Greece Seeks Another EUR 15B
    British Pound: Upward Trend Gives Out, BoE To Conduct More QE

U.S. Dollar: Index Threatens Downward Trending Channel, Labor Force Continues To Shrink
The greenback extended the advance from the previous day, with [...]

The trouble with normal is it always gets worse. ~ Bruce Cockburn Good morning. Euro trades lower today, before European leaders meet in Brussels to discuss the region’s debt crisis and sign off a permanent rescue fund for the eurozone. Here’s a couple of charts to start the week with: USD Index Former support around 79.50 [...]

Believe those who are seeking the truth. Doubt those who find it. ~ Andre Gide Good morning. Dollar’s decline continues as Fed says interest rates are likely to stay near zero through late 2014. Therefore, euro, risk pairs and metals rallied big-time – as seen on the charts below. Important events in today’s FX Calendar are: [...]

The safest way to double your money is to fold it over and put it in your pocket. ~ Kin Hubbard Good morning. Euro holds onto gains fairly well and managed to recover after dropping to as low as $1.2953 yesterday, which turned out to be a corrective move. Dollar continues to push on support around [...]

We don’t see things as they are, we see things as we are. ~ Anais Nin Good morning. Dollar’s decline continues as euro just popped through $1.300 yesterday, recovering from early bids around $1.2900. USD Index As seen in the daily chart below, key support level formed by the horizontal line which was a temporary top [...]

It’s human nature to find patterns where there are none and to find skill where luck is a more likely – William Bernstein Good morning. Euro opened lower this week, erasing most of Thursday’s gains, therefore dollar index found support at 80: USD Index EURUSD 4hrs chart still looks bullish as current decline could be [...]

The man who has confidence in himself gains the confidence of others. ~ Hasidic Saying Good morning. Dollar continues to fall as stocks recover, hence risk currencies, including EURUSD, are following stocks higher. Here are some of today’s interesting charts USD Index Support around 79.50 is in focus as dollar’s decline continues. That is probably a [...]

Never believe anything until it has been officially denied. ~ Claud Cockburn Good morning. Dollar pulls back from recent top as EUR recovers towards $1.28, but uptrend remains intact and strong, so it’s most likely only a corrective cycle until the next round of bad news coming from Europe hits. Here’s a daily dose of charts [...]

Confidence is 10% hard work and 90% delusion. ~ Tina Fey Good morning. Euro fell further against its counterparts as S&P downgraded France, Austria, Italy and Spain by one notch, but it kept Germany’s AAA rating level. USD Index It seems that last consolidation cycle has come to an end as the dollar rallied on S&P’s downgrade. [...]

There is a fine line between trying to pick bottoms and attempting to find support in a down-trending market.  Bottom-picking is generally a “no-no”, but using support to potentially find a market reversal is a time tested technique used by the pros.
However, the devil is in the details and the techniques used can be the [...]