reopenning of the forex market.
Posted on Sunday, January 31st, 2010 at 12:45 pm.
Look for markets retrace back to the weekly pivot point at the beginning of the week. The Forex market will reopen here in a few hours. Markets that are trending like the EURUSD will only pull back up just a little then continue too the 5th fib level getting in to the over sold situation. So at the end of this week we can expect alot of market to show us reversal patterns or trendline breaks. The USDCHF will do exactly the oppisite as the EURUSD and mirror that currency pair they follow each other but also beaware there may be a small lag so make sure you enter a trade in one of the market that the setup is completely declared itself with these currency pairs.
Over bought with the USD currency pairs
Posted on Saturday, January 30th, 2010 at 1:32 pm.
In the Forex market a lot of the pairs that are trading against the USD currency pair you will see that they are approach to a major support and resistence level and according to the fib levels they are over bought or over sold. So giving everyone heads up look for a candle stick reversal pattern or break of a trendline and you will see alot of the markets will retrace in the other direction. You will want to use the 24 EMA 28 EMA or also known as the daily gap as a target. If you use the day chart as your guide to do your technical analysis with the Forex then you will have alot more reaction time with your trade. Also read more about the Forex news you will also get notifacation that the USD currency pair is going to weaken.
USD Strength
Posted on Friday, January 29th, 2010 at 12:51 pm.
Dr. Blythe here,
The United States Dollar has gained so much ground against the Euro and the Swissy over the last week. The EURUSD pair reached 1.3895 and has not been this low since early July of last year. Keep your eyes open for a retracement next week in these pairs and a probable push to their respective weekly pivots. Happy Trading.
forex forex forex
Posted on Friday, January 29th, 2010 at 12:20 pm.
The amazing thing about the forex is you can predict where it’s going and another thing is that it’s more of a science. Forex trading is easy doesn’t have too be hard. When you trade with the Pros there is No excuse to see results in your trades. Once you become a successful forex trader the amazing thing is you can trade other markets. When forex addicts we are going to show you how the Pros do things. That is all i have to say GO forex an amazing oppurtunity and alot of money to be made and those that will made the most money in the forex market are the one that will gain the knowledge for us Forex Gurus. Happy trading
Forex News
Posted on Thursday, January 28th, 2010 at 1:20 pm.
The website i look at for News is forexfactory.com, forexnews.com, forexpeacearmy.com, dailyfx.com, bloomingberg.com, and there are other but i mainly get my news information from forexfactory.com. It’s important to keep things as simple as possible. We know that forex news is like the weather channel so don’t jump the gun on your trades but if you understand how the news is going to effect the forex market take advantage of the situation. Today you would see that the GBPUSD has dropped like a rock but after news you will see either a consolidation or retracement but in this case a range. You could expect a break out and see alot of the markets start a range so look for current highs and lows using support and resistance and look for better direction before getting in a trade. Happy trading in the Forex market.
GBPUSD consolidation
Posted on Wednesday, January 27th, 2010 at 9:30 pm.
Dr. Blythe here, I am watching a consolidation on the Great British Pound/ United States Dollar pair. There may be a nice movement upon the breakout.
Watch for the break of 1.6264 at the top of the range and support at 1.6094. There will likely be a move up or down to the next pivot point. Happy Trading.
USD Gain some muscles in the FOREX Market
Posted on Wednesday, January 27th, 2010 at 1:26 pm.
Looking at the forex market today you will see all the pair that is trading agains the USD currency pair gaining Strength. AUDUSD is taking a dive and has broken a major support and resistance level. Other pair in the Forex market you will see how they are all reacting to the USD dollar knowing it’s following the strength of that currency pair. This just means today the USD ecomonical news is doing good for the dollar. Finally the USD is doing something about there dollar.
Fed Leaves Rates Unchanged But For How Long
Posted on Wednesday, January 27th, 2010 at 12:41 pm.
The Fed left interest rates unchanged today near zero while it awaits stronger signs that the economy has recovered. While this is no surprise, there was some unexpected news from the announcement. The vote to keep rates unchanged was 9 to 1. The dissenting vote, cast by Kansas City Fed President Thomas Hoenig, was the first dissenting vote in a long time. The vote sent the EURUSD down as the USD strengthened on the news of the dissenting vote which could mean an interest rate increase sooner than expected. Currently, interest rate futures markets are pricing in a 100% chance of an interest rate hike by November and 66% by September. Those numbers could change significantly with today’s vote.
USDCAD are brother to Oil Prices
Posted on Tuesday, January 26th, 2010 at 5:29 pm.
You can see that Oil prices will correlate with the USDCAD pair in the Forex Market. The USDCAD is in a situation of being over bought and we will be looking for a break of a trendline and also look for a revesal pattern. It’s getting to the extreme level so a projected turn around price is 1.0746 if the market reaches that level with this currency get ready for a sell.
In the forex market when you are swing trading you only want to play with the extremes and know at that level there is great support and resistance so watch out for that market when it gets to that price.
CB Consumer Confidence
Posted on Monday, January 25th, 2010 at 9:17 pm.
Dr. Blythe here, look for this announcement in the morning. We will possibly see some market movement in the USD related pairs. This is the only major announcement that will impact the dollar tomorrow. It will be nice to see some movement in a few of the dollar based pairs after the consolidation in the EURUSD and the USDCHF today. Happy Trading.
