Tag: daily fx picksSort
New Historical High For the Aussie. Next, US Dollar Parity!
Good day to you my Forex friends! Guess what?!?! The Australian dollar has recently marked a new historical high over the US dollar. And from the looks of it, it seems that the AUDUSD pair has still a lot of legs left to move higher. As you can see from its 8-hour chart, the pair has been trading on a well defined uptrend for quite some time now.
It’s a bad day for the Aussie bulls since it seems that the bears have just taken over the trading driver seat. As you can see from the AUDUSD’s 4-hour chart, the pair appears to have broken down from a head and shoulders pattern. Remember that the Australian dollar had risen to as much as 0.9200 over the greenback early this month after touching a low of just above 0.8100 in June.
Welcome to another week of FX trading! In today’s fx feature is an update of the US dollar index. In my last post, I took specific note of the inverted head and shoulders pattern that was brewing at that time (please see my previous blog here). And guess what, the index has broken out from the formation already! You see, the index had been trading on a downward slope for quite some time.
Hiyo forex peeps! In today’s FX feature is an update on the US dollar index (please see my my previous post here). As you can see from its daily chart, the index appears to be poised for a break to the upside. Why? Well, the index has recently broken above its downtrend line and at present it seems to be forming and inverted head and shoulders formation.
Are the Pound Bulls About To Strike Back? – August 16, 2010
Welcome to another week of forex trading! In today’s FX feature is an update of the GBPUSD pair which I posted back on August 4 (please see my previous blog here). As you can see from its 4-hour chart, the GBPUSD or the Cable has retraced downwards after reaching a 6-month high of 1.5998 on August 4. But despite its recent weakness, I am still bullish on the British pound.
US Dollar Index Breaks Its Channel – August 13, 2010
TGIF! Welcome to another day of FX trading. In today’s chart is an update of the US dollar index (USDX) that I presented the other day (please check it here). Back then the index was still moving within a descending channel. My thinking was, it would continue to move lower since the channel was still intact.
What’s up forex peeps?! Welcome to another day of forex trading! We have the EURUSD in today’s fx pick. As you can see from its 4-hour chart, the EURUSD or the fiber came crashing in yesterday’s trading. After reaching a new 3-month high just above 1.3300. , the euro slid, breaking the pair’s uptrend line in the process.
Good day forex peep! In today’s fx special is the US dollar index. As you can see from its 4-hour chart, the index, which weighs the valuation of the greenback against a basket of currencies like the euro, pound, yen, Canadian dollar, Swedish krona, and Swiss franc, has been on a downward slope for quite some time now.
Canadian Dollar Slips on Bleak Employment – August 9, 2010
Welcome to a brand new week of forex trading! On today’s canvas is the 4-hour chart of the USDCAD pair. As you can see, the pair has been trending south for the past month. After hitting a new 3-month low of 1.0107 on August 5, it then rallied strongly. At present, it is trading below 1.0300. A break above this could send it to 1.0350 or at 1.0400.
UK Pound Bulls Doing Their ‘Thang’ – August 4, 2010
Good day FX friends! On today’s fx menu is the daily chart of the cable or the GBPUSD pair. In my last post about the pair back in July 16 (kindly see it here), I took note of the British pound’s bullish streak over the greenback. Though at that time I mentioned that it could meet some selling pressure at 1.5500.