Archive for June, 2009
GBP/JPY Could Break 160 on Fixing Flows
**Update on 6/30/09 at 1:30pm - GBP/JPY hit an intraday high of 160.27, hopefully you were able to bank some pips on this trade. The reversal candle that we have right now suggests that we could see a deeper pullback to 156.
We have a nice upside breakout in GBP/JPY this morning that has been [...]
High Profit/High Probability Scalping
There have been so many questions on this subject that I decided to create an FAQ
What pairs are you trading? Strictly GBP/USD and EUR/USD? That 4 pip spread bugs me with the GBP/USD….especially for scalping.
I trade only EUR/USD and GBP/USD from 2 AM EST (6AM GMT) to 4PM EST (20:00GMT)
The spread IS the [...]
Forex Trading Tips: Hitting High Probability and High Profit
Hitting High Probability and High Profit
Contrary to popular belief, getting the correct direction in trading is easier than most people think. “The euro will go up”. “The Dow will go down” etc. The finance channels are full of gurus who make those broad statements and then claim credit when they are eventually [...]
China’s Dollar Trap
Here is a very well written article about China’s predicament with the U.S. dollar and explains why they won’t be talking down the dollar anytime soon:
From the Weekly Standard
The Dollar’s New Best Friend
Beijing warms up to the greenback–because it has to.
by Gordon G. Chang
Last Tuesday, Brazil, Russia, India, and China–the so-called BRIC nations–met in Yekaterinburg, [...]
Interview Outlook for EUR/USD and Commodity Currencies
Here is the interview I did with CNBC last night talking about the outlook for the EUR/USD and commodity currencies:
Which Central Bank is Back in the Market?
Although everyone’s focus is on the Federal Reserve’s interest rate decision this afternoon, we have a lot of action in the European currencies. If you notice, the Euro is one of the few major currencies to under perform the dollar this morning because of the massively well subscribed ECB refinancing. In my daily [...]
5 Factors Weighing on EUR/USD This Week
German business confidence improved marginally which should have been bullish for the euro, but unfortunately the most actively traded currency pair in the forex market has remained under pressure throughout the European and U.S. trading sessions. So if the EUR/USD is not responding to economic data then what is driving it lower?
Five factors:
1. [...]
CAD/JPY: Major Technical Break
We have a major technical break in CAD/JPY this morning. The currency pair has broken below trend line support, the 50-day SMA and the 23.6% Fibonacci retracement of the year to date rally. Next stop could be 81.50. Lower oil prices are playing a big role in the move. Read all about it [...]
The Art of Scalping Properly
Forex Trading Tips: Trade Without Fear
Trade Without Fear
“I hate to lose,” is an expression that should never exit in trading. Not only because trading fundamentally about losing properly but because hate implies fear and fear is the one emotion that you must banish of you want to be able to trade for the long term. Trading like all economic activities [...]
