Archive for Forex Technicals

My Favorite Trade: AUD/NZD Update Plus USD/CAD and EUR/GBP

Last week, I wrote that shorting AUD/NZD is my favorite trade. At that time, I said that if the currency pair rallies back above 1.31, then the uptrend has resumed and my call is wrong. However, AUD/NZD tortured me and came within 2 pips of 1.31 (1.3098) before reversing sharply lower. There [...]

British Pound: Will it Break the Range?

For the past four trading days, the British pound has been stuck in a 200 pip range against the U.S. dollar and a 115 pip range against the Euro. However the bottom of the range in both the GBP/USD and EUR/USD have been broken, leading currency traders to wonder if the larger range will be [...]

Floor Caving Under USD/JPY?

The 95 price level for USD/JPY has served as very strong support over the past few months and now that the currency pair is trading well below that price level, it appears that the floor is caving in.
The following chart illustrates the significance of the breakdown. USD/JPY is trading in sell zone, [...]

Outlook for Non-Farm Payrolls, How to trade it

I was on Bloomberg Television earlier today talking about the outlook for non-farm payrolls and how the dollar could react to it. For my full NFP and ECB Preview, make sure you read my special report What to Expect for ECB and Non-Farm Payrolls

Find more videos like this on www.truveo.com.

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 [...]