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Trading the UK Jobs Release (September 11, 2013)

GBP/USD is still on an uptrend on the 1-hour time frame but it is currently stalling around the middle of the rising channel, suggesting that bulls are having trouble sustaining momentum. Today’s UK claimant count change report could determine the direction of this pair.

Forex Major Currencies Outlook (September 10, 2013)

USD

The dollar started Monday off on a weak note, as it continued to selloff after Friday’s NFP fiasco. 

Reversal Candlesticks on EUR/USD (September 10, 2013)

The euro’s rallies against the dollar might soon be coming to an end, as reversal candlesticks on the 4-hour time frame are hinting at an exhaustion. At the same time, stochastic has already reached the overbought zone, suggesting that bears could take over.

Forex Major Currencies Outlook (September 9, 2013)

USD

The dollar gave back some of its recent gains on Friday, when the NFP release printed a weak figure. The actual result showed a mere 162K increase in hiring instead of the estimated 178K rise. 

EUR/GBP Support at .8400 (September 9, 2013)

EUR/GBP has sold off strongly in the past few weeks, bringing it down from the .8750 area to the .8400 handle. The 4-hour chart reveals that there’s strong support in this region though.

Forex Major Currencies Outlook (September 6, 2013)

USD

The US dollar extended its rally against its major counterparts, as the US ISM non-manufacturing PMI turned out better than expected. The actual figure climbed from 56.0 to 58.6 instead of falling to the estimate at 55.2. 

Trading the NFP with EUR/USD (September 6, 2013)

EUR/USD made new 4-month lows yesterday, as ECB head Draghi confirmed that policymakers discussed the idea of lower interest rates. Meanwhile, the US printed a strong ISM non-manufacturing PMI reading, which extended the Greenback’s rally.

Forex Major Currencies Outlook (September 5, 2013)

USD

The dollar returned some of its recent gains yesterday, as traders covered their short positions ahead of the event risks for today. 

Has EUR/AUD Topped Out? (September 5, 2013)

A double top chart pattern has formed on EUR/AUD’s daily time frame and it appears the pair is revving up for a reversal from its recent climb. The neckline around the 1.4500 handle seems to be broken already and the selloff is underway.

Forex Major Currencies Outlook (September 4, 2013)

USD

The US dollar continued to assert its dominance on the charts in yesterday’s trading, although it lost some ground to the Aussie and Kiwi.