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Chart of the Day | Daily Forex Trading Edge

Chart of the Day

USD/JPY: Trend Change?

Monday, Feb 25, 2013

Past performance is not indicative of future results

See you for the IBFX 5/9 MA crossover webinar Wednesday night

Happy Trading and Be Environmentally Cool

Coach Brian

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/CAD: 72% Retracement

Monday, Feb 25, 2013

Good Evening,

I was going to post an article about the SPX range. With a high of 1530 and a low of 1495. We bounced off 1495 and went right back to the middle of the range, sitting at 1515 on Friday. Today, we gapped higher - to 1522. But, headwinds, headwinds, headwinds.

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.

Is there more Downside the Euro?

Monday, Feb 25, 2013

The Eur/Usd has reached a level in which the bears could in position to take this currency pair lower.  The 1.3300 handle was resistance that has turned into support. There were 2 days of stong selling pressure toward the end of last weeks trading session that slowed down around the 1.3150 psychological 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

EUR/JPY Sinks into Uptrend Support

Friday, Feb 22, 2013

It’s an uncomfortable time to play some of the trends that the year started off with. The yen weakness, kiwi strength, and euro strength stories have all unraveled this week. That’s not to say that longer-term these trends are not intact – they are – but the corrections that are triggered aren’t simply technical. They fundamentals surrounding these pairs has shifted. How temporary are they is the question but the in meanwhile we can either sit on the sidelines or look at these as opportunities.

Posted By: 

Raghee Horner

Raghee Horner, chief currency analyst for IBFX, provides her personal daily trading tips and insights through Dailyforextradingedge.com. An experienced trader with over fifteen years in the markets, Raghee is the co-founder of EZ2Trade Software and has taught her brand of technical analysis and charting strategies to students all over the world. She is an international author and has taught currencies, futures, and equities trading for over a decade.

GBP/USD: Two Buffalo Bounces

Wednesday, Feb 20, 2013

Good Afternoon,

This mornings article covered the fundamentals so we can go directly to technicals. I know that the Fed Minutes showed a disconnect as to when the Central Bank's easing plan should end, but quite honestly, a move from 1400 to 1530 seemed to be "non-technically", "overdone". "Overdone" meaning, to short the market wasn't on a technical level, it was solely on a "overbought" level. We know how that theory has worked out as of late.

But seriously, there were some signs.

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.

GBP/USD: Finding Support?

Wednesday, Feb 20, 2013

Good Morning,

We have a very light economic data week. Earnings are behind us and not many central banks to meet/speak for the remainder of the week. We do have initial claims on Thursday in the USD and those have been getting better every week - I am not sure how much of an improvement we will see going forward as they have dropped pretty quickly. But based on the trajectory, we could see a +200k number for the major jobs report in two weeks. Philly Fed will also be released - a typically weak number in the past, can it rebound?

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/JPY: Head and Shoulder Still A Possibility

Wednesday, Feb 20, 2013

Past performance is not indicative of future results

IBFX 5/9 Moving Average Crossover Webinar - Link to Sign Up Here

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.

Sell into the RBA-bounce?

Tuesday, Feb 19, 2013

The RBA’s less-than-dovish stance last night left traders looking for a nod to March’s expected rate cuts feeling exposed. The near-term, aussie shorts have been squeezed today but are they resilient positions that will add with today’s aussie bounce? My bet is yes.

Posted By: 

Raghee Horner

Raghee Horner, chief currency analyst for IBFX, provides her personal daily trading tips and insights through Dailyforextradingedge.com. An experienced trader with over fifteen years in the markets, Raghee is the co-founder of EZ2Trade Software and has taught her brand of technical analysis and charting strategies to students all over the world. She is an international author and has taught currencies, futures, and equities trading for over a decade.
Related Terms:

The EUR/USD’s Line in the Sand

Monday, Feb 18, 2013

The 1.3300 major psychological level is the support that bulls will justify a long positions with while bears will use a break through this level as a trigger to sell short.

The uptrend on the EUR/USD is shaky at best but still on the side of the bulls. The recent transition has taken the swing buys off the table so pullbacks are not likely to be the go-to entry for traders looking for higher highs. The fade however could be the bulls (near-term) salvation and an exhaustion play that would capitalize on the uncertainty on the daily time frame.

Posted By: 

Raghee Horner

Raghee Horner, chief currency analyst for IBFX, provides her personal daily trading tips and insights through Dailyforextradingedge.com. An experienced trader with over fifteen years in the markets, Raghee is the co-founder of EZ2Trade Software and has taught her brand of technical analysis and charting strategies to students all over the world. She is an international author and has taught currencies, futures, and equities trading for over a decade.
Related Terms:

EUR/USD: Did It Reach Support?

Thursday, Feb 14, 2013

Good Afternoon,

As I mentioned earlier this week, I expected fundamentals to be supportive for the equity markets. We received accomodative (bullish) news from the BOE yesterday. Retail sales were positive in the USD earlier this week. And today, jobs data in the USD. We are getting closer to a 350k four-week average. That could put us over the 200k new jobs created mark within the next two job reports.

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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