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Forex Major Currencies Outlook (February 26, 2013)

USD: Bullish

Federal Reserve Chairman Ben Bernanke will deliver his semi-annual testimony in Congress during today’s US session and possibly talk about the previously released FOMC meeting minutes, wherein the policymakers showed an inclination for an early tapering off of asset purchases. 

Trade Setup of the Day: Short GBP/USD (February 26, 2013)

GBP/USD made a huge gap down over the weekend but price pulled right back up and the pair starting to close the gap completely. 

Forex Major Currencies Outlook (February 25, 2013)

USD: Neutral

There are a few major U.S. economic releases due this week, such as the CB consumer confidence data and the ISM manufacturing PMI, and these could either confirm or reverse the pro-dollar bias that the FOMC meeting minutes resulted in last week. 

Trade Setup for the Day: Short EUR/USD (February 25, 2013)

EUR/USD consolidated around the 1.3150 and 1.3200 major and minor psychological support levels at the end of last week and continues to move sideways in that area today. 

Forex Major Currencies Outlook (February 22, 2013)

USD: Bullish 

While some traders booked profits after the FOMC sparked a strong dollar selloff, it seems that most of the anti-dollar rallies that took place yesterday were mere retracements. 

Trade Setup for the Day: GBP/USD Short (February 22, 2013)

There might be a chance to catch the GBP/USD selloff at a better price today as the pair appears to be retracing to the 38.2% Fibonacci level on the 4-hour time frame. 

Forex Major Currencies Outlook (February 21, 2013)

USD: Bullish

The minutes of the latest FOMC meeting caused quite a ruckus in the currency market as policymakers showed signs of hawkishness for the U.S. economy.

Trade Setup of the Day: Short GBP/USD (February 21, 2013)

GBP/USD just broke below the long-term support at 1.5350 and the next area of support is around 1.5000 then at 1.4300. 

Forex Major Currencies Outlook (February 20, 2013)

USD: Bullish 

The U.S. dollar could be in for a bit of consolidation against its major currency counterparts until the big reports are released during the New York session.

Trade Setup for the Day: Long NZD/USD (February 20, 2013)

NZD/USD’s uptrend is still intact as the rising channel on the 4-hour chart seems to be holding.