Commodity Currencies!!!
Posted on Thursday, April 8th, 2010 at 9:35 am.
The NzdUsd had a very pressurized white candle on this week on the daily chart. This move looks to be ready to continue given the current candlesticks on the hourly time frame. Also the UsdCad hit the hourly gap it really bounced off, now has broken the 13 ma. AudUsd also had a very solid break of the 13 ma. I really like these setups right now for a long term continuation of this swing. Overall we should have a lot of easy pips to pick up on.
Wedging Pairs
Posted on Tuesday, March 30th, 2010 at 7:36 pm.
Dr. Blythe here,
Wedges are great formations where we use support and resistance lines and trend lines to show us the market movements. The EURUSD pair on the daily chart has set up a really nice wedge formation and well as the GBPUSD daily chart. Once we get the breakout we can expect some really large movements so keep an eye out.
Forex Flags
Posted on Wednesday, February 24th, 2010 at 5:46 pm.
Dr. Blythe here,
There have been some really nice flag formations forming on the EURUSD and the USDCHF pairs. Look for breakouts on those pairs. Now remember that these currencies have been in the over bought and over sold situations for some time now so that could have an effect. Learning these trend line formations can be an important step so watch for the different formations that we talk about such as, wedges, ascending and descending triangles, channels and flags (also know as pendants or arrows). These pairs are due for the retracements so watch for that move back the daily gaps. Happy Trading.
The Trend is your Friend
Posted on Friday, February 5th, 2010 at 3:32 pm.
The market from the begin of next week should be continuing the major trend. The NFA Reports acted really different this time. If you are looking for safe trades with the Forex during news there are time when it looks like its going to go one direction then it is easily to get in the wrong direction with the currency because it’s like a head fake.
With the Non farm pay roll reports it’s always good to sit on the side line and let the market settle down then make your trade with the trend. I would believe alot of the pair will go too some extreme levels so if you see it pop up don’t get faked out and don’t chase the candle a good chance it will come back into the original trend.
USD is Strong and GOLD is Down
Posted on Thursday, February 4th, 2010 at 11:58 am.
As you may know the Gold markets correlate with the USD currency pair in the Forex Market. You can see that Gold has dropped down and the NON farm pay roll came out this Thursday. As you can see anything that is trading with the USD has made some big moves today. lf you haven’t taken advantage of this big move today then stand aside until it hit support or look for a reversal pattern or pull back trade for a small amount.
You don’t want to trade against the main trend because the trend is your friend in any market especially the Forex market. The markets should consolidate during the closing of the New York session so wait for the market to break out in a direction.
U.S. markets taking control
Posted on Wednesday, January 20th, 2010 at 11:03 am.
For this week in the Forex market you will expect some of the markets to trend. Looking at any pairs that are trading against the USD as you can see there has been some big moves in the market yesturday and today and probably more to come in the future. In my last blog with the GBPUSD trade went very good.
Hope everyone got a piece of that trade. AUDUSD it may be the end of the trend and looking to trade back downward but beaware at the end of this week or the begin of this week there is either going to be a retracement or a range for the market because of the big moves that happened in the forex this week.
Also it’s little brother the NZDUSD will also follow the AUDUSD with some of it’s behaviors in the market. So if you see a short position on the NZDUSD usually you will see some of the same trades with the AUDUSD.
Again remember the new law with the insurance that is coming will have a big impact with the USD markets So watch for that when they announce any news on that topic.
