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GBPUSD falls in early NY trade after corrective move earlier. Yesterdays low tested
StockTwits FX, StockTwits FX | January 22nd, 2010 at 9:28 am
This post was written by @gregmikefx on the StockTwitsFX Blog
The GBPUSD corrected to the 200 and 100 hour moving average area in the 1st half of the new trading day today, and that gave the sellers the opportunity to reenter and sell the market again( green and blue line in the chart above). The price is now down testing the low from yesterday at 1.6124. Additional support comes in at the 1.6109 where the 61.8% retracement level is found. This from the low set on January 7th at 1.5895 and the high at 1.6456.
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The EURUSD is correcting early NY trade
StockTwits FX, StockTwits FX | January 21st, 2010 at 11:03 am This post was written by @gregmikefx on the StockTwitsFX Blog
The EURUSD has moved up sharply in early NY trade after selling off to the lowest level since July 2009 in the London trade. That move lower reached a target of 1.4045 and actually moved through that level to a low of 1.4029 in the London session. As NY entered, however, the price has rebounded back above our 1.4045 target level and took off to the topside.
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EURUSD tests the 38.2% retracement of 2009 Low to high range
StockTwits FX, StockTwits FX | January 20th, 2010 at 10:52 am This post was written by @gregmikefx on the StockTwitsFX Blog
The EURUSD is down testing the 38.2% retracement of the 2009 low to high range this morning at the 1.4117 level after another down day for the EURUSD.
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GBPUSDs big reversal. Back down testing 100 day moving average at 1.6310 and other support
StockTwits FX, StockTwits FX | January 19th, 2010 at 9:10 am This post was written by @gregmikefx on the StockTwitsFX Blog
The GBPUSD moved higher earlier today on Kraft/Cadbury merger agreement and the much higher than expected CPI. However, the market started to reverse and the sharp fall has taken the pair back toward the support at the 100 day MA which is currently at the 1.6310 (see chart above).
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Another US Holiday
StockTwits FX, StockTwits FX | January 18th, 2010 at 12:00 pm This post was written by @kevinmhughes on the StockTwitsFX Blog
I trust everyone had a great weekend and you're all ready to enjoy one more day off in observance of Martin Luther King, Jr. Day. The US equity markets are closed and banks are closed. The currency markets and futures markets, on the other hand, are not closed.
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USDCHF tests the topside trendline of bear flag and holds
StockTwits FX, StockTwits FX | January 14th, 2010 at 1:51 pm This post was written by @gregmikefx on the StockTwitsFX Blog
The USDCHF has been forming a bear flag over the last 4 trading days. The holding of the top trendline level keeps the formation alive for a potential break. I would expect that sellers will continue against the level with a move below the 100 hour MA at 1.0190 currently (blue line above), confirming a move down to the lower trendline boundaryat around 1.0150 level.
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GBPUSD approaches key technical resistance at 1.6309. Looking for profit taking sellers.
StockTwits FX, StockTwits FX | January 14th, 2010 at 7:55 am The GBPUSD is approaching the key 100 day moving average at the 1.6309 level (high reached 1.6293 today). The GBPUSD has been supported today by a comment from BOE Andrew Sentance who said the central bank may have to raise rates in 2010. This increases the demand for the currency.
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So dollar…whatcha want to do now?
StockTwits FX, StockTwits FX | January 13th, 2010 at 7:50 am This post was written by @ragheehorner on the StockTwitsFX Blog
The U.S. Dollar Index rules most of my day. I have a a love/hate relationship with the dollar because when I get it right trading feels like the easiest thing I can do...when I get it wrong trading feels like the hardest way to make an easy living. I'm also seeing that the inverse correlation through most of '09 where dollar weakness meant equities strength and vice versa seems to have lost it's step.
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Cable: Is Third Time The Charm?
StockTwits FX, StockTwits FX | January 11th, 2010 at 9:13 am This post was written by @faithmight on the StockTwitsFX Blog
The $GBPUSD actually ended the first trading week of the year above 1.6000. To close the week above this major whole number and psychological level is a very bullish development no matter how you slice it. And then there is also the adage that January trading sets the tone for the year and the first week of January sets the tone for the month. So this close makes things very interesting for this GBP/USD bear.
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$EURUSD after consolidation
StockTwits FX, StockTwits FX | January 9th, 2010 at 2:00 pm This post was written by @kevinmhughes on the StockTwitsFX Blog
The $EURUSD has been consolidating since December 20, 2009, but more importantly, the $EUR has been weakening against the $USDX since 12/1/09. The bear flag (or consolidation) will probably continue for the next couple of days (169 pip range) before a natural break out. [Daily Chart below]
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USDJPY moves toward key resistance against 200 day MA
StockTwits FX, StockTwits FX | January 7th, 2010 at 10:49 am This post was written by @gregmikefx on the StockTwitsFX Blog
The $USDJPY is moving higher this morning on the back of new Finance Minister Kan's comment that he supports a weaker Yen. The price is approaching key resistance, however, against the 200 day MA at the 93.56 level. There should be sellers against the important level with stops if the price level can be broken to the upside. This level today will be eyed very closely today.
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The weaker housing has the dollar moving lower
StockTwits FX, StockTwits FX | January 5th, 2010 at 12:28 pm This post was written by @gregmikefx on the StockTwitsFX Blog
The Factory Orders were good but the sharp Pending Home sales is not and with ambiguous data, the dollar has moved lower.
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$USDJPY: One thing (could) lead to another
StockTwits FX, StockTwits FX | January 5th, 2010 at 7:54 am This post was written by @ragheehorner on the StockTwitsFX Blog
Happy New Year everyone - I'm glad January is here. Time to get back to work! My forex trading world basically revolves around four to seven pairs. My bread and butter being the $EURUSD,$USDJPY, $USDCAD, and$GBPUSD. Tonight I'm managing a short in the $USDJPY on the 30 minute chart.
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THE Biggest Trends in 2010
StockTwits FX, StockTwits FX | January 4th, 2010 at 4:15 pm This post was written by @faithmight on the StockTwitsFX Blog
The economy will continue to be the biggest story in 2010. In a macro context, will countries around the globe continue to grow? Will people make more money? Will people with money continue to save and invest that money? We have seen GDP growth in recession stricken countries like the United States while others like Great Britian have yet to recover. Other countries like the emerging economies never suffered recession, merely a slow down, and are enjoying robust economies.
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HAPPY NEW YEAR!!!
StockTwits FX, StockTwits FX | January 1st, 2010 at 2:19 pm This post was written by @kevinmhughes on the StockTwitsFX Blog
I just wanted to wish everyone a Happy New Year! This past year has been an eye opening year for me! Obviously because of the economy we live in and the fact that we are all traders, but more importantly, the resources that have been brought to the fore front thanks in large part to the StockTwits team. Howard Lindzon,Soren MacBeth & Phil Pearlman may be ugly looking fellows, but what they've done to enhance the community (as well as create it) is remarkable & deserves to be recognized as hands down the most influential concept of 2009 (if not the decade). Most of us have turned off the CNBC's of the world (not to pick on CNBC, I'm just talking about horrible financial reporting, regardless of the channel) and turned to the REAL people of the financial community. My trading has expanded, grown and been sharpened because of the direct connection to the StockTwits community.
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