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Chart of the Day | Daily Forex Trading Edge

Chart of the Day

Fibonacci Numbers and Trading Plans in the GBP/USD

Tuesday, Jun 11, 2013

Good Afternoon,

Finally, we can use Fibonacci's on the SPX as we did have a sizeable retracement (4.5%). Now the question becomes, will we see a lower low and then, possibly a change in the sequence.

But first, the fundamentals. A rather light week. But we do get retail sales, claims, PPI (yawn) and consumer sentiment. I say "yawn" by the inflation index as we know we don't have an inflationary problem. We do have higher interest rates as of late though as today, we saw equities and bonds sell off. Will rates continue to rise if equities head lower?

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.

Interest Rates Drive Markets

Thursday, May 30, 2013


Good Afternoon,

Is it really back? Is Fundamental Data going to drive the markets? Today we saw dollar strength as the US Treasuries broke on better than expected economic data (see CHPM). But late in the day, we had money flow back into the US Treasuries as money came out of equities. So you saw USD strength early and weakness late on fundamental news - now this makes sense!!

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.

Data Dissemination Time!

Wednesday, May 29, 2013


Good Afternoon,

Fundamentals don't pick up until tomorrow.  Technically, I posted 3 support lines yesterday. Guess what? Today, we found one. We found that 1640 support level and bounced back up to another support area (where we close) at the 1650 level. Will we actually have two negative performing weeks in a row in the SPX? Or will the buyers step in to take us to new highs? Also, what is it with Tuesday's? Anyone ready for a down Tuesday? CNBC won't know what to do with themselves!

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.

USD/CHF: Above Average Trading Range

Tuesday, May 28, 2013

Good Afternoon,

Last Thursday and Friday showed the bulls in charge. With so much buying pressure and a quiet "international event" weekend, stockss took off.

Looking at the broad index, we have some very local support and resistance ranges. What will get the SPX to push above the resistance line? Will it be good economic news or bad economic news?

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.

Friday Equity Selloff? What Does It Mean For Forex Pairs?

Thursday, May 23, 2013

Good Afternoon,

Thanks for listening in on IBFX's "Open Discussion on Technical Analysis" webinar last evening. We stressed the importance of fundamental analysis when setting up a technical analysis-based trade (and trading parameters).

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.

Bernanke Speaks; Markets React

Wednesday, May 22, 2013

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.

EUR/USD: On Support?

Tuesday, May 21, 2013

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.

More Currency Wars This Week?

Monday, May 20, 2013


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.

AUD/USD - Where To Next?

Thursday, May 16, 2013

Good Afternoon,

Fundamentally, we were weak across the board. Technically, is that a boon or bust for equity prices at these levels? Definitely short-term it seems to be a boon, as long as the Fed doesn't have any change of plans...Claims were well above expectations - need more data here to see if this is a pattern. Manufacturing data, which I expected to rebound was sluggish again.

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.

USD/CHF: Above Average Trading Range Leads to Buffalo Bounce

Tuesday, May 14, 2013


Good Afternoon,

That was quick. Four days and we moved from 1625 to 1650 in the SPX. We are now at a "psychological resistance level" and we are also very close to the upper trend line channel. So will we zoom from 1650 to 1700 and the top of that channel just as quickly? If you are a seller, are you still short? If you want to sell, is this a good level to try it out at?

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.
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