Being on the brink of a decision in Washington to either settle their petty squabble or allow the US to default for the first time in history, the currency markets are primed for volatility. I find that the market typically provides clues as to which direction the prices may trend after the fact. Sometimes, these clues can be misread, but they are certainly available. (more…)
This morning, the market made a clear prediction for how the AUD/USD pair would react to the RBA minutes release. At the asia market open, we saw the pair rally through resistance levels set back on the 8th of October to a high of .95062. A limit order at previous resistance opened the door to a 50 pip win in 3 short hours. (more…)
The Euro looks poised to charge against the Aussie should it maintain its current support. Looking to take partial profits at 1.448 and the remainder at 1.456. (more…)
Choosing a style that matches your desired lifestyle is critical to having success as a trader. “Know Thyself”, as Socrates said, for we cannot wrestle with ourselves physically or emotionally and expect greatness.
The Asian and European sessions were a yawn fest today as traders look ahead to the FOMC announcement. Most anticipate the Fed to begin tapering, but Bernanke will want to avoid triggering major volatility across the markets. (more…)
The US Dollar continues to weaken against the Swiss Franc, creating a second new structure low at .9288 following its September 5th highs of .94506. Look for resistance test at .9337 as an opportunity to top up a short on the USDCHF currency pair. If resistance holds, look for a step down to .92579 and a possible continuation to .921. (more…)
If you have ever found yourself on a farm or a very rural area, you may be familiar to a rooster wake up call. In the top bunk of a small wilderness cabin, I found myself laying awake a good hour and a half before my scheduled 6:30am alarm as the cock crowed incessantly. (more…)