EUR/USD

Good Afternoon,

For additional reads on the Bernanke statements, please refer to fundamental analysis stories such as this Bloomberg article.

Yesterday's post contained a very important statement. It was the last sentence, which read: "continue to do your fundamental analysis every day". That is very important, especially when Central Bankers are speaking. Today, Bernanke gave us the fireworks.

Posted By: 

Brian Kahn

Brian provides regular commentary focusing on the relationships between various financial markets. An experienced trader and portfolio manager with over 15 years in the markets, Brian relies on fundamental and technical analysis to create trading plans for each and every market entry.

Good Afternoon,

Looking forward to tomorrow night's IBFX "Open Discussion on Technical Analysis" webinar. Will we be able to talk about a break lower in the EUR as the USD shines on as the shining star?

Past performance is not indicative of future results

Posted By: 

Brian Kahn

Brian provides regular commentary focusing on the relationships between various financial markets. An experienced trader and portfolio manager with over 15 years in the markets, Brian relies on fundamental and technical analysis to create trading plans for each and every market entry.

Good Afternoon,

I reviewed the massive fundamental data week that lies ahead on Friday - please refer to that for the preview. Also, I will be conducting another IBFX Webinar on Wednesday night. I hope you can join!

Today, we saw some stabilization in the AUD/USD market, but beware of the fundamental reason why the AUD is weak.

Posted By: 

Brian Kahn

Brian provides regular commentary focusing on the relationships between various financial markets. An experienced trader and portfolio manager with over 15 years in the markets, Brian relies on fundamental and technical analysis to create trading plans for each and every market entry.

Good Morning,

That didn't take long. We broke out above 1600 and already got to the 1625 area. Will this "psychological" area that is combined with the DOW at 15k be enought to stop the insanity?

Posted By: 

Brian Kahn

Brian provides regular commentary focusing on the relationships between various financial markets. An experienced trader and portfolio manager with over 15 years in the markets, Brian relies on fundamental and technical analysis to create trading plans for each and every market entry.

Good Afternoon,

We wrap the week up with a bullish employment number. Was it really better than expected? Are we creating above average jobs? Who cares! Central Banks are here - see the latest Fed statement where they can do more if necessary. And this is the "goldilocks" scenario where it isn't too much good news which keeps the Fed involved.

With that, I give you my "technical" levels. Remember, technical levels have reasons behind them. The reasons behind the 1625 and 1650 level are "psychological". Not! technical:

Posted By: 

Brian Kahn

Brian provides regular commentary focusing on the relationships between various financial markets. An experienced trader and portfolio manager with over 15 years in the markets, Brian relies on fundamental and technical analysis to create trading plans for each and every market entry.

The Eur/Usd reached a high of 1.3200 and has sold off since then. The Euro broke down thru the 1.3200 psych level and if the pair can attract sellers under this level there is nothing stopping the Euro to test the 1.2800 handle. If the bulls can take charge then the 1.3100 level is the next level up for the Eur/Usd.

Euro breaks down belowt the 1.3200 psych level.

Posted By: 

Skii Lodge

Skii Lodge is an experienced currency trader who provides unique insight into the currency market using a combination of technical and fundamental analysis, as well as harmonic moves. He uses equities and commodities (Dow, US Dollar, Gold and Crude Oil) for cross market analysis to come up with trading strategies on a daily basis. Skii Lodge uses this information along with market structure, major support and resistance levels to formulate trades during swings in the markets. Follow him at IBFXConnect: https://www.ibfxconnect.com/profile/skiilodge

Good Morning,

No fundamental until tomorrow, but keep an eye on claims - see the past few commentaries for more detail on fundamentals.

Technicals:

**IWM - will it close below Monday's low

**QQQ - same thing, going lower than Monday's low

**DIA - getting there

**SPY - currently below Monday's close

This is what we were looking for - a failure - otherwise known as a double top or a lower high and then a lower low. See the IWM for a double top and a lower low.

Posted By: 

Brian Kahn

Brian provides regular commentary focusing on the relationships between various financial markets. An experienced trader and portfolio manager with over 15 years in the markets, Brian relies on fundamental and technical analysis to create trading plans for each and every market entry.

The Euro completed a Harmonic pattern today after the huge rally after the Speech from President Drahgi. So far the bears are able to defend the 1.3200 psychological level while the bears have been unable to take prices higher. The US Dollar Index dipped below the 82.00 round number and if 81.80 can hold as support then the Euro could see 1.3050 again.

The Eur/Usd completed a 78.6%  Fibonacci retracement from A - B completing a Harmonic Pattern

Posted By: 

Skii Lodge

Skii Lodge is an experienced currency trader who provides unique insight into the currency market using a combination of technical and fundamental analysis, as well as harmonic moves. He uses equities and commodities (Dow, US Dollar, Gold and Crude Oil) for cross market analysis to come up with trading strategies on a daily basis. Skii Lodge uses this information along with market structure, major support and resistance levels to formulate trades during swings in the markets. Follow him at IBFXConnect: https://www.ibfxconnect.com/profile/skiilodge