A Quick Update on Some Major Currency Pairs

USDJPY Daily 130513

USDJPY Daily 130513Despite some market speculation, the G-7 meeting adjourned with the assembled finance ministers and central bankers neglecting to comment on Japan’s more or less explicit policy of weakening the Yen (which among other things, moves USD/JPY higher). The 102 level …

Time to Restrain that Yen for USD/JPY?

USDJPY Daily 100513

USDJPY Daily 100513USD/JPY has been a good long trade since it became Japanese government policy to prod the economy by weakening the local currency. It’s pretty tough for a government and central bank to strengthen a currency, but it’s usually possible to …

A Surprise From the RBA Brings Aussie Lower

AUDUSD Hourly 070513

AUDUSD Hourly 070513Good Morning, Friends. Central banks have the power to influence the direction of their currencies, but it’s much easier, in most cases, to weaken the local variety than it is to strengthen it. The Australian Dollar was trading within shouting …

Draghi Smacks the Euro

EURUSD Hourly 060513

EURUSD Hourly 060513Good Morning, Friends. Those who are short EUR/USD, which has been in a relatively narrow 1.2950/1.3250 range for the past couple of weeks, got some assistance this morning as ECB President Draghi observed during a speech in Rome that he …

Is a GLD Short Glittering? How About the Euro?

GLD Daily 020513

GLD Daily 020513Good Afternoon, Friends. It was noted this morning prior to the opening that Gold futures were having a nice push higher, which prompted me to take a look at the daily charts, first of the contract, and then of the …

“That’s Why We Don’t Call It Money Harvesting”

GBPUSD Daily 260413

GBPUSD Daily 260413“They call it trading, not money harvesting” is the battle cry of a friend of mine, and of course he’s correct. Unfortunately, having a reasonable investment thesis and a well-executed trade only guarantees a chance to make money. Which is …

A Data Surprise Generates a Potential Opportunity in GBP/USD

GBPUSD Daily 250413

GBPUSD Daily 250413Some unexpectedly good news from the UK economy – good news from that quarter is generally unexpected in these troubled times – had the corollary effect of catching a number of traders and investors uncomfortably short of Cable (GBP/USD). When …

Some Levels to Watch in EUR/USD

EURUSD Daily 190413

EURUSD Daily 190413It’s Friday, in fact, about fifteen minutes prior to the close as I begin typing, and it’s been quite a week, particularly for those of us who live in the Boston ‘burbs. Despite, or because of everything, I’ve had an …

EUR/USD Update

EURUSD Daily 170413

EURUSD Daily 170413Good Morning. “Big figures”, in FX parlance – prices ending in two zeroes – tend to exert some gravitational force, and at present, selling interest at 1.3200 seems to be inhibiting any move higher in EUR/USD. This is also well …