When it comes to foreign exchange (FX), there are many factors which influence the market. One of the most important things someone who wants to trade FX successfully must stay on top of is forex news. Forex news can significantly change price movements of currency pairs and for this reason it is important to keep [...]
Currency Trading Commentary: 25 June
June 25, 2012 By Leave a Comment
It was a tough day for the Aussie market, on the back of mixed leads from international markets on Friday night, with all but one sector finishing in the red. Utilities were the weakest links, followed by materials and industrial stocks. Only the consumer discretionary sector managed to finish in the green. The big four [...]
Currency Trading Commentary: 16 June
June 17, 2012 By Leave a Comment
The bias for the USDCHF is becoming increasingly bearish. We’ve switched to a four-hour chart today to better highlight the weakness and present an aggressive, short-term opportunity. We note the shorter-term EMAs are crossed lower and the price action is below the longer-term EMA filter, which is negative. Whilst we are bearish, we would not [...]
Currency Trading Commentary: 31 May
May 31, 2012 By Leave a Comment
Since we last covered the USDJPY, the pair has continued to respect the downtrend we drew 10 days ago. The bias is now firmly bearish for the pair, with the shorter-term EMAs crossed lower and the price action below the longer-term EMA, which has turned negative. Traders can look to be sellers on a further [...]
Currency Trading Commentary:23 May
May 23, 2012 By Leave a Comment
The bias for the GBPCHF is bullish. The shorter-term EMAs are crossed higher and the price action is above the longer-term EMA filter, which is positive. We note that the price action recently broke out above a previous swing high created in January this year and has since been back to retest and confirm this [...]
Currency Trading Commentary: 17 May
May 17, 2012 By Leave a Comment
The longer-term trend for the EURNZD is bearish but in the near-term the picture is quite bullish. The shorter-term EMAs are crossed higher and the price action is above the longer-term EMA filter, which has recently turned bullish. Given that we’re only looking to take out a tiny move in the context of [...]
Currency Trading Commentary 14 May
May 14, 2012 By Leave a Comment
Friday night’s action saw risk currencies lose ground, as equities and commodities put in a mixed performance. The Aussie dollar slipped lower, with the AUDUSD giving up 0.6% to settle at 1.0031 at this morning’s NY close, and the AUDJPY letting go of 0.6% to settle 80.17. During today’s Asian session the Aussie [...]
Currency Trading Commentary: 11 May
May 11, 2012 By Leave a Comment
As equity markets steadied overnight, so too did risk currencies and the euro. The Aussie dollar posted gains, with the AUDUSD adding 0.3% to settle at 1.0090 at this morning’s NY close, whilst the AUDJPY added 0.7% to settle at 80.67. The Canadian loonie traded at almost parity with its US counterpart before a government [...]
Currency Trading Commentary: Euro Woe Continues
May 9, 2012 By Leave a Comment
The bias for the EURUSD is bearish. The shorter-term EMAs have crossed lower and are diverging, and the price action has extended away from the longer-term EMA filter, which is negative. The price action is also on the verge of breaking down below a key horizontal level which, if breached, could induce further [...]
Currency Trading Commentary: 11th October
US markets suffered further losses overnight, as the third quarter earnings got off to a shaky start on the back of Alcoa’s poor outlook. Although the aluminium giant’s quarterly earnings and revenue topped estimates, investors were taken aback by its downbeat outlook for global commodity demand. Chevron also weighed on the market after warning that [...]