Forex Market Commentary 67
Last week we seen the CAD strengthen as it failed to move through overhead resistance. The USDCAD daily chart shows price has now moved into support and responded with some aggressive bullish price action. The market rejected an attempt to move lower into support and closed as a bullish rejection candle. The signal candle also […]
Today I would like to share a trade setup that was featured in the War Room ‘Chart of the Day section. I wanted to share this with the blog readers to demonstrate how you don’t need to follow the news calendar religiously, or let it effect your trading decisions to heavily. Some traders won’t trade […]
We’ve been witnessing the GBPUSD getting an absolute slaughtering from the bears lately. It makes you wonder if George Soros is up to his old tricks here. Evidently the Pound weakness is felt across all the GBP pairs. The GBPJPY is really feeling pressure from the sellers as the market heavily rejects a retest of a […]
Looking back at the EURUSD again, it’s one of the ‘hot charts’ at the moment with this awesome downtrend momentum we’ve got going on the daily chart. Most of the other markets have stalled in terms of movement, always focusing on the moving pairs. The Inside Day we pointed out at the start of the week […]
We’ve been talking about the price action on the big US stock index – the S&P. The S&P has been in a serious uptrend, it’s something traders should be watching with a close eye. Last week we did see the market fall down from fresh highs back into long term support. The weekly chart […]
Last session we seen most of the major currencies weaken while the yen gained some strength. No outstanding price action that stands out on any of the currency pairs. The Silver chart is on the hot seat today, producing a bearish signal off a swing level. We call it a swing level because it’s a level […]
The pound has just been through a nice steady up trend which pushed the pound above and beyond the $1.7000 level that it hasn’t seen in years. Now it seems the GBPUSD has made a turn toward the downside after price stalled during the last few weeks of trading. Right now the daily chart shows the […]
The S&P bulls have had a very good run the last few months, producing a very nice stable up trend. Recently the market has lost it’s upward momentum and appears to be ‘running out of steam’. The mean value has flattened out and is showing characteristics of a neutral market. The market is clearly having […]
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- simao chissano said very true and helpful
- Nicolaas said This is so true and very good advice. Hope to join...
- Siyabonga said Best article. Thank you. I wish every new trader c...