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Forex Blog

EUR/USD Drifts Closer to Opening After Strong Start of Session

Fri, 22 Sep 2017 16:47

EUR/USD rallied during the first half of the current trading session but has drifted down closer to the opening level by now. The dollar was under pressure from growing tensions between the United States and North Korea. Meanwhile, the euro was getting support from the fact that all Purchasing Managers' Indices...

EUR/USD Resumes Rally Started Yesterday

Tue, 19 Sep 2017 13:46

EUR/USD has started a rally during yesterday's American trading session, which continued into the early hours of today's European session. The currency pair retreated a bit afterwards, but it looks like EUR/USD is going to resume the rally. Housing starts were at the seasonally adjusted annual rate of 1.18 million...

Forex Candlestick Patterns Cheat Sheet

Mon, 18 Sep 2017 15:40

The topic of the Japanese candlestick patterns in currency trading is rather controversial because not all of them apply to the spot foreign exchange market. With almost no gaps between the candles and no definite daily close/open levels, the traditional candlestick patterns are somewhat less applicable in Forex. The cheat sheet...

Forex News

Euro Fails to Profit from Positive PMI Readings

Fri, 22 Sep 2017 21:18

The euro failed to garner support from the very positive macroeconomic reports released today. The currency attempted to rally intraday, but failed to do so, and is now trading near or below the opening level against most of its rivals.

US Dollar Weakens on Lingering Geopolitical Risks and Lackluster Data

Fri, 22 Sep 2017 16:06

The US dollar moved lower against the euro and the Japanese yen on Friday after an exchange of threats continued between the United States and North Korea. Today’s economic releases provided the greenback little support as the US manufacturing activity edged marginally higher while activity within the services sector dropped.

Canadian Dollar Weakens Against US Dollar on CPI and Retail Sales Data

Fri, 22 Sep 2017 14:35

The Canadian dollar today weakened against the US dollar after the release of weak Canadian CPI and retail sales data by Statistics Canada. Other releases from the US docket such as the Markit US Manufacturing PMI also served to boost the US dollar against its Canadian counterpart.

Commodity Blog

Gold Poised for Worst Weekly Performance Since July

Fri, 22 Sep 2017 14:57

Gold futures have retreated from their recent highs over the last trading week and are now poised for their worst weekly performance since...

Oil Futures Surging amid OPEC Speculation

Wed, 20 Sep 2017 17:00

Oil prices are climbing higher midweek after reports that the Organization of Petroleum Exporting Countries (OPEC) may extend its production-cut agreement...

Bitcoin Shatters $4,000, JP Morgan, John McAfee on China, Nodes & Miners in North Korea

Wed, 20 Sep 2017 11:07

The $4,000 resistance level has been shattered, and we seem to be getting closer and closer to the $4,179.14 weekly high. Bitcoin bubble talk shows no...

Forex Video Zone

USD/JPY and AUD/USD Forecast — September 22nd 2017

Fri, 22 Sep 2017 14:27

In this video, the Trader Guy looks at the currency pairs USD/JPY and AUD/USD for the September 22nd session. USD/JPY — The pair rallied again, as we are clearly above 112.00 and looks ready to go higher. I think that the 114.50 level will probably be targeted as the US dollar will strengthen. With the Federal Reserve looking to clean up its balance sheet, I think that the pullbacks are buying opportunities. AUD/USD...

EUR/USD and GBP/USD Forecast — September 22nd 2017

Fri, 22 Sep 2017 14:24

In this video, the Trader Guy looks at the currency pairs EUR/USD and GBP/USD for the September 22nd session. EUR/USD —As you can see, we have bounced from the uptrend line. So, it looks like we are still positive, but there is so much in the way of resistance above. I would not be surprised to see a breakdown. On a breakdown, we could reach 1.1750 area and maybe 1.15 after that. The ...

USD Weighed Down by Fresh North Korea Threats

Fri, 22 Sep 2017 13:58

The rally of the USD/JPY pair did not last long. Geopolitical risks are again shaping a trading sentiment on forex. Pyongyang released a statement, threatening to make President Trump pay dearly for his fiery speech at the UN General Assembly on Tuesday. North Korean leader Kim Jong Un viewed the tough remarks by the US president as an invitation to the war. So, Pyongyang is now considering the highest level of hard line countermeaures. So,...