Euro Turns Bearish
Having reached the 1.55 target rather more quickly than I had anticipated the euro has taken a very bearish tone (bearish engulfing candle on the week). Although it is holding up today I believe we can expect a further fall to 1.54. If it begins to approach the 1.53 level - last [...]
Aussie Pauses
A quick catch up on the Aussie Dollar which has done well against the US dollar and spectacularly well against the Japanese yen - for those of you who followed my tip on this currency back in March you should be sitting on some big fat profits!
However, given the falling off in commodity prices expect [...]
Euro Trend
As forex traders we often only view currency strength and weakness as figures on a screen, from which we can make or lose money. For us, the worst that can happen is a losing trade, but in the real world it is far worse. Having just returned from a trip to Sicily, the effects [...]
Watch The COT for Euro Traders
The euro’s retracement from last week’s low of 1.5360 against the US dollar is only to be expected given the extent and speed to which the euro dollar fell. Learning to trade the counter-trend is an important skill and one which traders need to understand and acquire in order to maximise their trading [...]