Tag: Forex

Nine days ago, I talked about AUD/USD and how I thought FX Empire did a really good job analyzing AUD/USD.

FX Empire Is Spot On With Their AUD/USD Analysis

The main trend is up according to the daily swing chart. A trade through .7206 will signal a resumption of the uptrend. The main trend will change to down on a move through .7052.

The main trend will change to down on a move through .7052. An easy way to define an downtrend is price breaking to swing lows. Although I would say price would have to break the swing low at 0.7000.

Since that

I talked about a EUR/SEK set-up to go long back in mid-February.

Forex Analysis Report 2-16-19…More Upside On The EUR/SEK

Based on the monthly chart, I thought there was more upside because the EUR/SEK has been in a 6-week rally since late-December lows in the 10.1200 region.

So the set-up was the following:

The Swedish krona depreciates further vs. its European peer on Wednesday, lifting EUR/SEK to fresh 2019 peaks in the vicinity of the 10.6800 handle.The increasing selling mood in the Swedish currency remains the name of the game around the cross for the time being, which has now advanced to the area

10,000 Ft View – Daily Chart

Lets zoom for a closer look at the trade set-up. What I like about the set-up is price has been making lower highs.

Price also broke a daily demand level, indicating that price can move lower.

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions. 

Some of the world’s currencies are accepted for most international transactions. The most popular currencies are accepted for most international transactions are the U.S. dollar, the euro, and the yen. However, the U.S. dollar is the most popular. And in the foreign exchange market 90 of forex trading involves the U.S. dollar.  Thus, when assessing the relative strength of the most popular currencies in the world, it’s always against the U.S. dollar, using the daily time frame chart.

The “major” forex currency pairs are the major countries that are paired with the U.S. dollar (the nicknames of the majors are

10,000 Ft View – 4 Hr Chart

Lets zoom for a closer look at the trade set-up. What I like about the zone is price has been making higher lowers and higher highs. In addition, the momentum is to the upside.

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

The Australian Dollar finished lower on Friday. The currency also finished lower for the week as investors began pricing in a potential interest rate cut by the Reserve Bank of Australia as early as August. Early in the week, the RBA minutes mentioned it had discussed a rate cut. Mid-week, China announced better-than-expected GDP growth. Late in the week, Australian employment change beat the forecast. Nonetheless, the good news failed to generate enough buying interest to support a gain for the daily or week. The main trend is up according to the daily swing chart. A trade through .7206

Some of the world’s currencies are accepted for most international transactions. The most popular currencies are accepted for most international transactions are the U.S. dollar, the euro, and the yen. However, the U.S. dollar is the most popular. And in the foreign exchange market 90 of forex trading involves the U.S. dollar.  Thus, when assessing the relative strength of the most popular currencies in the world, it’s always against the U.S. dollar, using the daily time frame chart.

The “major” forex currency pairs are the major countries that are paired with the U.S. dollar (the nicknames of the

The Turkish lira weakened after the central bank struggled to explain moves in foreign-currency reserves, fueling concern about the state of the nation’s finances amid the looming prospect of more political upheaval. Turkey has around $118 billion of foreign-currency debt coming due within the next 12 months and relies on the central bank’s buffers to meet its obligations if the flow of capital that finances the economy begins to slow.Foreign investors have already withdrawn a net $1.6 billion from the nation’s lira bond market this year amid political and economic turbulence that has rocked the country’s markets.Last month, JPMorgan Chase

Theresa May got her wish, in recent weeks, European Union leaders have granted the UK a six-month extension to Brexit. However, with each delay/extension the risk of a “no deal” increases. Theresa, who had wanted a shorter delay, said the UK would still aim to leave the EU as soon as possible. Any suggestion that a ‘no deal’ Brexit will be entirely avoided would typically be associated with a strong rally in the British Pound.

In its first monetary policy for the financial year 2019, the Reserve Bank Of India central bank slashed the repo rate by 25 basis points to

A surge in oil prices this year has helped make the Canadian dollar one of this year’s best performing major currencies. However, the Canadian Dollar weakened Monday after the latest business outlook survey from the Bank of Canada (BoC) showed weaker inflationary pressures in the first-quarter and slower growth in the months ahead suggesting the BoC at a minimum will leave interest rates on hold for the rest of the year.

On the news, the Canadian dollar fell…right into supply on the AUD/CAD.  Lets go to the chart to see the trade set-up I took.

Monthly Chart (Curve Time Frame) – monthly