USD/JPY short adjustments

Share This: …extension of the late January advance. An oversold bounce from around there would not surprise, while a break below would likely confirm that a more significant decline is indeed underway. Short USD/JPY from around 121.50. Took profit on ½ of original position near 119.38. Lowered stop on remaining position from cost to 117.60.   DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. Learn forex trading with a free practice

History of Trading the Forex Market

Share This: …their native currency against the value of the currencies in the markets in which they traded their day to business activities. These companies would see fluctuating exchange rates effect their profit and loss accounts, often with millions being made or lost simply on the value of one currency against another. It was also these companies that were first to spot the huge money making opportunity currency fluctuations offered and these same companies were the first to leap on to the Forex trading

USD/JPY Weakness to Persist on Wait-and-See Kuroda

Share This: – Talking Points: – USD/JPY Weakness to Persist on Wait-and-See Kuroda; RSI Trigger in Focus. – NZD/USD to Eye Top of Range on Strong New Zealand Employment Report. – USDOLLAR to Face Fed Rhetoric, Slowing ISM Non-Manufacturing Survey. For more updates, sign up for David’s e-mail distribution list. USD/JPY Chart – Created Using FXCM marketscope 2.0 Despite the surprise move by the Bank of Japan (BoJ), the near-term pullback in

US DOLLAR Technical Analysis: The Dollar Bull Dilemma

Share This: …markets. The pivots help pave the way for the corrective channel and opens the view that we could soon be testing support once again before the next Dollar Bull Run takes hold. Aside from the JPY plummet on negative interest rates last week, the US Dollar has had a tough go since many markets (equities, energy, commodity FX) may have put in a bottom on January 20. Key Levels: Watch the Recent Pivot to Hold For now, the key support level on the US Dollar has turned to a confluence of

Silver and Platinum Price Action Not Supporting Gold Fervor

Share This: …truly beginning to shift in the metal. Want to see how other traders in the market are positioned? Find out HERE A big reason I have been skeptical of this rally in Gold outside of timing (several important timing relationships around the start of Q2 seem to favor another leg down), is the behavior in other precious metals. The rally in Silver has been less than impressive, as has the action in Platinum. Like Gold, both have been in strong bear markets since 2011. The action here in both

USD/CAD Technical Analysis: CAD Bulls Likely In Charge below 1.4325 (Levels)

Share This: …risk-appetite and overt focus on Oil’s next move. However, the ‘Blame it on Crude’ environment seems to be fading for now. For one, the lack of dovishness from the BoC to cut rates further has lessened the spread between the US/CA 2 years Government yield spread, which widened as the price of USD/CAD moved higher. Second, markets have been re-adjusting to the risk-reversal since the January 20 low in multiple markets (stocks, commodities, and many currencies), which seems

Silver Should Be Trading At $14.93 According to Gold

Share This: …over the coming months, rebounding from low levels. Boost your trading skills and pick up one of our 16 different Trading Guides Silver Prices | FXCM: XAG/USD Created with marketscope/Trading Station II; prepared by Alejandro Zambrano — Written by Alejandro Zambrano, Market Analyst for Contact and follow Alejandro on Twitter: @AlexFX00 Struggling with Trading? Join a London Seminar original – The technical outlook is little

EURUSD Consolidation Break Imminent- Levels To Know

Share This: – Talking Points EURUSD approaching apex of multi-month consolidation formation Updated targets & invalidation levels Event Risk on Tap This Week EURUSD Daily Chart Created Using FXCM marketscope 2.0 Technical Outlook: EURUSD has continued to consolidate into the apex of a formation darting back to the December high with the pair struggling to mount resistance at 1.0924. This level is defined by the December reversal high-day close and converges on

USD/CAD Caught in Range Under 1.4075

Share This: – Talking Points The USD/CAD opens Fridays trading in a 97-pip range Range resistance is found at 1.4075 Bearish breakouts begin under 1.3930 USD/CAD 30 Minute Chart (Created using marketscope 2.0 Charts) What is in store for the US Dollar in 2016? See our Analyst forecast here! The USD/CAD has opened Friday trading by bouncing from range support at 1.3978. From this point, prices have risen to the high of the day, which currently stands at 1.4087. It