Japanese Yen Traders Don’t Seem to Know if Risk is on or Risk is Off
The USD JPY traded sharply higher Friday morning, but the strong gains faded after a report showed the U.S. Services Sector slowed during August. The rise in demand for stocks appeared to be reviving the carry trade earlier in the session. This is a situation where investors borrow the lower yielding Yen then sell it to invest in higher yielding assets.
This may be a key turnover day for all markets. Specifically, the EURO, DOW, and CRUDE are now registering "NO CONFIDENCE" on the previous DOWNTREND signal and really only has to hold in this range to turn the signals. Price to look out for on the EURO is 1.2745 and the DOW is 10149.71.
Traders Seek Direction from Bernanke, GDP on Friday
There are many different trading strategies that traders use while trading stocks. In the stock market today, it is important to have a trading strategy that you feel comfortable with, and one that suits your needs. Using a strategy for stock picking and for trading on the stock market will make sure that you follow a set of rules and that you do not deviate from it.
Traders Hope Bernanke Sheds More Light on Fed’s Next Move
When trading on the stock market today, you will find that there are many styles or methods used by traders and investors to maximize returns. Trading stocks using these different methods will help you gain profits in different time frames. Some types of trading may involve holding a stock pick for a few seconds; this is known a shaving.
The use of financial charts in the stock market today is widespread. Traders who are stock picking companies to invest in will have come across these charts when they are performing fundamental analysis of their stock picks. They are used to convey important information in a graphical format. Companies will use them to show growth and performance in their market area.
The EUR USD is trading lower overnight. Based on the daily chart, this market has been having trouble regaining the bullish side of an uptrending Gann angle from the 1.1876 bottom. This angle comes in at 1.2936 today. The market will remain in a weak state unless this angle can be regained. Downtrending Gann angle resistance is at 1.2974.