Key GBPUSD Support Broken – Moody’s Threatens UK Credit Rating The U.S.Dollar has gained ground across the board on safe haven flows – this comes as Moody’s threatens UK credit rating along with France. Inflation data eyed as CPI figures will be released and QE very much in focus – (CPI is the change in…
Author Archives: jerzyholland
GBPUSD Technical Analysis Report 7/2/2012
GBPUSD Intraday Technical Analysis Update Cable is testing a near term descending resistance trend line after making a false break below support yesterday and possibly trapping shorts. The current resistance level is also seen on the higher timeframes as this represents a 38.2 and 61.8% Fibonaccci level of prior respective GBP/USD swings to the downside….
EURUSD Range Trading– Analysis WC 6th Febuary
Euro/Dollar Technical Update – EURUSD Range Trading EURUSD is caught in a 2 cent range around 1.3000 to 1.3200. Range high resistance comes in the form of recent price structure and the 38.2% Fibonacci retrace of the January / October decline. These highs have held during the week as traders did not commit to a…
British Pound Higher On Manufacturing PMI Data – GBPUSD Analysis
The British pound has now risen to a 10 week high versus the greenback based in part on an unexpected resumption of growth within the United Kingdom’s manufacturing arena. The manufacturing PMI release posted a reading of 52.1 in January, this was better than the forecast increase to 50.2 from the 49.6 figure last December. …
EURJPY Analysis Tech Update – Euro Yen 29/1/2012
EURJPY Technical Analysis 29/1/2012 Large specs are still heavily net long the Japanese Yen (CME) at 44,367 contracts as of the 24th Jan reporting period. This has however dropped from the 58,862 reading a week earlier. The EUR FX (CME) has large specs heavily net short, at an all time record, but this divergence with…
EURUSD Analysis 28/1/2012
EURUSD Technical Update The EURUSD currency pair has sustained the break above the descending channel and closed the week near the high point of the weekly range. The AWR over 26 weeks is 355 pips and this week has covered a near perfect 99% of the AWR and 353 pips. Price has closed close to…
GBPUSD Support Level Holds – Breakout could signal Renewed Volatility
GBP/USD Support Level Holds Price On A Weekly Close Basis Standard & Poor’s, the rating agency, shook the markets yesterday with another round of Euro-Zone sovereign downgrades. There was a sharp turnaround in risk appetite as the rumours hit the floor during the European trading sessions and cable retraced after breaking above the previous days…
AUDUSD Momentum Building Ahead Of Key resistance 2012/11/01 Analysis
AUD/USD Technical Analysis Update The AUD/USD currency pair is making a series of higher lows (see chart below) ahead of key resistance at the 1.040 area. This kind of price action is hinting that the sellers are unable to push price as low as previous attempts every time resistance is hit. This level is closely…
AUD/USD At Fibonacci/Price Structure Confluence Area
The Australian dollar pushed higher during trading through the New York session today (Thursday). This upside move started just above parity and has benefited as risk on sentiment was seen following positive U.S. data. However, the euro-zone debt situation is still in full swing and the Italian 10-year yields have increased after a lacklustre auction…
Confirmation Required On Cable Trend Line Support Break 22/8/11
Pound Dollar Analysis 22/8/11 There has been a 4 hour candle close below trend-line support as highlighted on the chart below. This comes just below the 1.6500 round number area that has proved to be a significant pivot recently. MACD divergence can also be observed on the 4 hour chart. GBPUSD 4 Hour Chart -…
GBP/USD Technical Analysis 6th May
GBP/USD Technical Analysis 6th May My previous GBP/USD analysis post mentioned that the “price action is pointing towards further potential cable losses”. The 61.8 Fibonacci level and 1.6500 confluence provided the expected resistance and price subsequently hit the 1.6300 support level after this post. Any new move higher will still need to contend with…
Gold Moves Higher On Speculation That Low Interest Rates Could Persist
Gold moves higher after NFP figure indicates lower interest rates could persist The continued decline of the US economy – including yesterday's terrible Non Farm Payroll employment figures – has medium term speculators concerned that the perceived global recovery is not progressing as it was thought to be. Gold futures climbed the…
Non Farm Payroll Forces Dollar Sell-Off
Non Farm Payroll Report Brings Further Dollar Weakness The Dollar has dropped hard today (Friday) as the NFP report weakened the expectation for US economic growth. The Non Farm Payroll report revealed only 54K jobs were gained in May – which is approx one third of expectations. The underlying unemployment figure was higher than…
Writing A Trading Plan
Writing A Trading Plan Trade like a pro and plan for success. There shouldn’t be any hesitation in trading. When it comes to pulling the trigger and entering a trade the trader should have cut the decision making process to a bare minimum and have a full understanding of what constitutes a valid entry and…
Safe Haven Swiss Franc – Weekly review 28th May
Swiss Franc gains against the majors The Swiss franc reinforced it's position as the strongest currency at the moment by running to all-time highs versus the euro and the dollar. This comes amongst intensifying concerns that the Euro sovereign-debt crisis will degenerate and subsequently lead to a flood to safety in the foreign exchange…
Euro Gaps Lower As New Trading Week Begins
EUR/USD has seen a gap open lower going into the new trading week. Early trading has seen the EUR/USD pair test the 1.4100 area which is over 50 pips lower than the Friday close. The Euro is seeing a continuation of Fridays selling pressure due to ongoing debt issues. The impact of Spanish local…
Dealing With Forex Trading Losses
Forex trading losses and how to minimise them No trader ever wants to lose by choice and most of us are not endowed with the power of true foresight and a crystal ball. Losses are an inescapable reality of trading. However, as human beings we are not brought up to readily endure losses and this…
Trading The Markets and Poker
An intriguing video on the similarities between trading and poker. Howard advises on the need to lose less when you lose and win more when you win and how we need to be able to take a loss and move on. An interesting trading psychology video.
Ten Common Reasons Traders Lose Discipline And How To Avoid Them.
Ten reasons traders lose discipline and how to avoid them. There is very little that is new in the world of trading psychology but mastering the basics and mastering our mind is essential if we are to develop as highly efficient traders. The following are common trader discipline issues and suggestions to counteract them. Discipline…