Forex Strategy & Forex Trading Strategies made by Professionals for Beginners & Experts


FX: NZDJPY Has Been Consolidating in a Rectangle Pattern

Interval: H4 New Zeeland dollar has appreciated during the last months in front of the Japanese yen. We can see on the chart a nice up trend. At a better look we can say that it is even an up channel.  The thicker blue line is the trend's line, the thinner blue line is a middle line which was respected by the price and the red thin line is the rejection line of the channel. After a false breakout made in the beginning of April, the price rallied very fast touched the rejection line and … [Read more...]

FX: EURUSD Taking a Break While US Dollar Index is Signaling a Down Trend

Interval: Daily Do you remember this Harmonic pattern on the US Dollar Index? You can see our first analysis Dollar Index Heading for a Bearish PRZ and our second analysis, Dollar Index Rejected From PRZ,  on this matter. Looking in the same time at the charts of Dollar Index and EURUSD we will see that they are in a mirror and when a top is made on EURUSD, in the same time, a bottom is made on the Dollar Index and the other way around. The coefficient correlation indicator it is at … [Read more...]

FX: GBPUSD Might Have Started a 12 days Correction

Interval: H4 The British pound has started an uptrend on 12th of March and it kept on going for almost 2 months. Looking at its chart we can see that the trend has moved inside a channel and respected some patterns. The first two corrective moves needed around 50 of 4 hours bars to be finalized. Besides the overlapping they have the same length. The second corrective move has started after a rejection from the 38.2 (1.5410) Fibonacci retrace of the full down trend. The last impulse … [Read more...]

EURUSD is Waiting for the Non-Farm Payrolls

Interval: Daily Wednesday the ADP came lower than expected. Only 119 thousand jobs were added in the private sector, excluding agriculture, while the expectations were of 154 thousand. The EURUSD touched a high at 1.3241 but retraced and closed at 1.3178 forming a Shooting Star at the 50% retrace of the full downtrend. On Thursday the ECB cut its interest rate at 0.5% from 0.75%. This move was expected by the market and also estimated by us. The weak Euro Area economic data, especially … [Read more...]

The European Central Bank’s Decisions

Italy is on the right path, finally announced a coalition government on Saturday which will be led by the Prime Minister Enrico Letta. The priorities of this new government are the economy, the unemployment rate (currently at 11.6%), regaining investors’ trust and fighting for the Europe to turn away from the austerity. On Friday the rating agency Moody’s kept its rating on Italian government debt unchanged at Baa2 forecasting also a shrink of the economy of 1.8% this year. The main issue … [Read more...]

A Cut In Interest Rate for Euro zone?

Next week is going to be a calm one until Thursday when the European Central Bank Press Conference will definitely release important changes about the interest rate of the Euro zone. Considering the weak German growth, the increase of the unemployment rate in Spain and the general condition of the Europe, investors expect the interest rate to be cut. The result would be lowering the value of the euro. On Friday there will be release the NFP's value, an important indicator which is expected to … [Read more...]

Canada is keeping the interest rate at 1%

Mark Carney, the Governor of Bank of Canada had a public speech this week which caught the trader’s attention. As head of the central bank, he can release important information about the short term interest rate, indicator closely watched by traders which has a lot of influence over the currency’s nation value. Why is important to pay attention to Canada? Primarily because is the world’s eleventh-largest economy, an exporter of energy with important resources of natural gas and oil. The … [Read more...]

Is EURUSD Preparing For A Down Move?

Interval: Daily Remember this chart? We have used it in the past when gold was bought because of the risk aversion triggered by the Cyprus problems. Well, the Double Bottom was not confirmed for gold, and the price fell, followed after several days by a rally for EURUSD and EURJPY. At this point we can see that the price of the precious metal recovered while EURUSD dropped back to 1.3 and EURJPY could not make another high. This might be the first signals for another plunge for the … [Read more...]

AUDUSD is in a 10 Months Range

Interval: Daily On 29th of June the price action of AUDUSD has made a new high but, was also the day that started the 10 month range. The first two throwbacks have determined the support zone between 1.01 and 1.0170, while the first high established an important resistance at 1.06. The resistance line is also a round number and became a psychological number. The next down moves from September and October 2012 have established the main support at 1.0160. This level was broke in the … [Read more...]

EURUSD Has A First Reaction at 38.2 Fibonacci Retrace

Interval: Daily The downtrend which started on first of February 2013 seems to have stopped at 1.2740 level on 4th of April. The first reversal signal is the higher high. Even though the price made a high at 1.3120 it seems that the up move wasn’t strong enough to break 38.2 Fibonacci retrace level and now EURUSD sits 2 pips above 1.3050. For the reversal to be confirmed it will be necessarily for the price to make another higher low. It can find support at 1.2970, 38.2 Fibonacci … [Read more...]

FX: GBPUSD in an Accumulation Area

Interval: H4 Last week economic data that was published for UK was weak, you can see the latest GBPUSD Weekly Wrap Up. This week the CPI was, as expected 2.8%, with 0.8 percent over the inflation target of BOE, though. The Producer Price Index was published at an unexpected high level of 3.2%, with 1.5% over the forecast. This has pushed an alarmed button for the officials and they have said that from now on the inflation risk will be taken more seriously. Meaning that they might … [Read more...]

FX: EURUSD Something Smells Fishy - Technical Up Fundamental Down

Interval: Daily On the daily chart it is obvious that the uptrend is still in place. The last low did not get to 1.2665 and higher highs were made. At this point things seem to get a bit confusing between the signals given by the technical analysis and the ones given by the fundamentals. Looking to compare the economies, we can say that for the moment USA's economy is stronger and advances fast, and Europe doesn't look to good. Yesterday we saw that the European industrial production … [Read more...]