Archive for the Daily Forex Picks Category
Singapore Dollar Trading At An All-Time High Versus the US Dollar!
Good day Forex friends! In today’s FX special, I present to you the monthly chart of the US Dollar versus the Singapore Dollar (USDSGD). As you can see, the USDSGD pair has been sloping downwards for quite some time now. Last Friday, however, it was able to cross below the psychological 1.3500 support, marking a [...]
Posted: September 8, 2010 at 2:40 pm
British Pound Weakening Against the Swiss Franc
Hiyo FX peeps! Here’s a weekly chart of the GBPCHF pair. As you can see, the pair has been trading sideways after hitting a low of 1.5118 back in December 29 back in 2008. Just recently, however, the Swiss franc was able to hurdle below the 1.5825 marker against the British pound. Given this price [...]
Posted: September 7, 2010 at 6:05 am
The Bank of Canada Could Hold Its Rate Unchanged
Welcome to another week of forex trading! In today’s FX feature is the daily cast of the CADJPY. As you can see from the chart, the pair broke down from a descending triangle pattern. Since then, it has been trading between 78.60 and 81.70. Last Friday, we the Canadian dollar rallied against the Japanese yen [...]
Posted: September 6, 2010 at 2:46 am
Australian Dollar’s Silent Rise
Good day to you my fellow FX men and women! Today I present to you the daily chart of the AUDUSD. As you can see, the pair has been trading within an ascending channel since the middle of May 2010. Of course, the pair would more like trend higher as long as the channel’s support [...]
Posted: September 5, 2010 at 9:26 am
The EURO Bears Got Trapped!
Hiyo my avid forex fans! In my previous article about the euro, I mentioned that its recent rally after breaking down from what appears to be a head and shoulders formation could be over soon. However, a full blown breakdown and a reversal did not really pan out as the euro bulls were able to [...]
Posted: September 4, 2010 at 6:31 am
Gold Poised For An Upside Breakout? – September 2, 2010
Welcome to a brand new month of trading! In today’s feature is the monthly chart of gold (kindly check here for my last post on it). The month of August was a good one for the gold bulls as the price of gold was able to rebound after if fell to a low of $1,157.15 per [...]
Posted: September 2, 2010 at 1:53 pm
Are the Dollar and Euro to be Dance Partners in Lieu of Domestic Growth?
Pick your movie metaphor, but it appears that the U.S. Dollar and the Euro are entwined in their own version of the “Last Tango in Paris”, where neither is sure where the relationship will head, but time marches on. Ever since the Greek debt crisis hit the global stage in May, markets have been in [...]
Posted: August 31, 2010 at 5:49 pm
Japanese Yen Aiming for the All-Time High – August 31, 2010
Good day ladies and gents. Well, it’s been a pleasant couple of months or even years for the Japanese yen bulls. As you can see, the USDJPY has sunk for 4 consecutive months in a row! It’s actually been on a downward slope since the last quarter of 2007! Nice. You see, the pair was [...]
Posted: August 31, 2010 at 3:32 pm
A Bearish Pattern in the AUDJPY – August 31, 2010
Hello forex peeps! For months now, the AUDJPY currency pair has been moving sideways. Apparently it has been setting up a triangle formation in its daily chart and could be bearish as it came from a downtrend four months ago. So is the AUDJPY currency pair bound to go lower? I would say “yes” once [...]
Posted: August 31, 2010 at 7:31 am
Is the Euro’s Short Rally Over? – August 30, 2010
Good day to you my Forex friends! Here’s an update on the EURUSD or the fiber as what they call it on Wall Street. The last time I covered the pair (please see my previous post here), it had just broken down from a head and shoulders formation. Since then, the pair has rallied to [...]
Posted: August 30, 2010 at 12:56 pm
The Aussie Bears’ Return – August 25, 2010
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 [...]
Posted: August 25, 2010 at 1:38 pm
EURO Breaks Out! But to the Downside! – August 24, 2010
Good day FX friends! Here’s an update on the EURUSD which I posted last August 17 (please see my previous blog here). In that post, I mentioned the possibility of the euro breaking out to the upside. It turns out that I was wrong as the EUR, instead of moving north, slid and broke down. [...]
Posted: August 24, 2010 at 2:13 pm
US Dollar Index Breaks Out! – August 23, 2010
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 [...]
Posted: August 23, 2010 at 1:54 am
US Dollar to Make a Comeback? – August 19, 2010
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 [...]
Posted: August 19, 2010 at 7:30 am
Short Term Bullish Reversal Seen on the Euro? – August 17, 2010
Good day forex peeps! Here’s an update on the EURUSD pair or the fiber. Last August 12 (please see my last blog here), I noted the pair’s disastrous month when it fell by more than 450 pips after reaching a new 3-month high of 1.3334 on August 6. It’s a good thing that the previous [...]
Posted: August 17, 2010 at 2:23 pm
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 [...]
Posted: August 16, 2010 at 2:01 am
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 [...]
Posted: August 13, 2010 at 7:06 am
The Euro Came Crashing – August 12, 2010
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 [...]
Posted: August 12, 2010 at 2:02 am
US Dollar Remains in a Funk – August 11, 2010
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 [...]
Posted: August 11, 2010 at 2:44 am
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 [...]
Posted: August 8, 2010 at 12:33 pm
EURO Soared Over the US Dollar On Dismal NFP Result – August 6, 2010
Hello forex peeps! On today’s fx feature is the 4-hour chart of the fiber or the EURUSD pair. In my previous post about it (please see it here) last August 3, I mentioned that as long as its uptrend holds, it would continue to move higher… and it did. As you can see, the pair [...]
Posted: August 6, 2010 at 2:14 pm
Gold is Still Alive! Whew! – August 5, 2010
Hello trading fans! Last week gold provided the market with a scare when it temporarily broke its long term uptrend line (kindly see my previous blog here). As you know, a break of an uptrend could spell disaster given the possibility of a reversal. Hence, it’s a good thing that gold managed to pull itself [...]
Posted: August 5, 2010 at 2:39 pm
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 [...]
Posted: August 4, 2010 at 1:28 pm
Euro Continues to Rise Over the Greenback – August 3, 2010
Good day FX maniacs! Here’s an update on the fiber or the EURUSD pair. As you can see, the pair has managed to bounce off the 1.3000 support and the uptrend line which I noted in my previous post (kindly see it here) to mark a new 3-month high. You see, the pair has been [...]
Posted: August 3, 2010 at 1:25 pm
End of the Euro’s Rally Versus the Swissy? – August 2, 2010
Hiyo FX men and women! Welcome to another week and month of forex trading! On today’s canvas is the daily chart of the EURCHF pair. As you can see, the euro has rallied against the Swiss franc after it hit a new historical low at on July 1. Notice that the pair has since traded [...]
Posted: August 2, 2010 at 12:01 am
