Analysis of Forex Trading, Financial Markets, and Economic Policies
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Technical analysis suggests that the New Zealand Dollar-US Dollar cross is forming a double top on the 4 hour chart. After reaching a 2010 high at .7395 on July 27, the pair seems to be losing upward momentum. A worse-than-expected unemployment number (6.8% vs 6.2% expected) yesterday was the catalyst that stalled the pair for [...]
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Charts show price compression on the Loonie-Yen (CAD/JPY). The pair will likely stay in the range until the Canadian Jobs number and U.S. Non-farm payrolls data are released on Friday morning. There is strong resistance at the 85.00 level. The bias is for a bullish breakout to the upside as the USD/CAD has broken out [...]
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The Canadian Dollar went off-the-charts today as the Bank of Canada (“BoC”) speculated that rates may start going up in July 2010 (WSJ Article). To see the press release from the BoC, click here. I was short the USD/CAD & AUD/CAD crosses and long the CAD/JPY cross at the time of the release. Overall, it [...]
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The Australian dollar was the big winner today while everyone was sipping the Aussie Haterade on StockTwits and Twitter. I feel like more than 30-40% of the Stockt-Twits today was about shorting the Australian dollar. Some interesting quotes even went along the lines of “AUD/USD, die, die ,die”. If there was any other contrarian sign [...]
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I photoshopped this back in December 2009, I can finally bring it out now. The Euro bears were out for the kill today. There were so many bears out there that it felt like a wild forest. I’m a US dollar bull and thus also a Euro bear. However, I was a little skeptical about [...]
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