EURUSD is testing 1.5342 key support, consolidation will more likely be seen before breaking below this level, and rebound to 1.5650 area is expected. Key resistance is located at 1.6019, only break of this level will signal resumption of the long te...

USDCAD formed a short term cycle bottom at 1.0036 level on 4-hour chart. Further rally to retest 1.0326 (Apr 1 high) key resistance is expected, and a break of this level will signal resumption of the long term up trend. More FREE Forex Analysis i...

AUDUSD formed a short term cycle top at 0.9541. The fall from 0.9541 could possibly be resumption of the down trend and a break of 0.9290 level will confirm such case. Initial resistance is now at 0.9541, only rise above this level will indicate that...

USDJPY is in consolidation to the up trend. As long as 102.67 holds, we'd expect up trend to resume and further rally to 107.00 area is still in favor after consolidation. Key support is at 100.02, only break of this level will signal the resumption ...

by S. Wade Hansen The U.S. dollar (USD) is currently the world's reserve currency. If you look around at most central banks around the world, you will see that the majority of them hold the majority of their assets in U.S.-dollar based assets---...

I play a hollow body electric guitar. The sound is great but one hazard of playing too close to your speakers is the body starts to resonate and creates a feedback cycle. As sound exits the amplifier speakers it hits the body of the guitar and ...

GBPUSD breaks above 1.9894 key resistance and reaches as high as 1.9924. Further rise to 2.0055 area is expected in the next several days. Near term support is at 1.9691, only break of this level will signal the resumption of the down trend. More ...

USDCAD broke below the key support at 1.0132 and dropped sharply to as low as 1.000 level. Deeper decline to 0.9900 area is still possible later today. Near term resistance is at 1.0150, as long as this resistance holds, we’d expect down trend to con...

GBPUSD is forming a short term cycle top at 1.9894 on 4-hour chart. Key support is now located at 1.9650, a break of this level will confirm the cycle top and deeper decline to test 1.9337 (Jan 22 low) could then be seen. ...

Those damn retail forex bucket shops! Don't you just hate the way they manipulate spreads during news and fill you at some ridiculous price?! Its a crime!No actually its the natural function of the market. Read this excellent article over at Forex Fa...

Tyro Trader seems to have killed his blog, and Chaffcome hasn't done a monthly report since Feb - unusual for him as he's a professional hedge fund basically. I've moved upticks world up because its now pretty much my favourite fundamental news blog....

Here's what I think is your greatest ability as a trader (or a power you should CULTIVATE at all costs) :Your ability to do NOTHING.Yes thats right. I can see this now after all this time - I've been trading forex for what must be coming up for 18 mo...

Being contained by the price channel resistance, USDCAD pulls back from 1.0326 level. Deeper decline to retest 0.9709 previous low support is still in favor. Key resistance is located at 1.0378, only break of this level will signal the resumption of ...

How long do you want to be trading for? Do you want to make those millions as soon as possible so that you can then retire to a life of luxury on your own sun-kissed desert island? Personally I'm in it for the long haul. I view trading as an acti...

EURUSD broke below the key support at 1.5726 and formed a short term cycle top at 1.5896 on 4-hour chart. Further fall to test 1.5342 previous low support is still possible in a couple of days, and a break of 1.5532 will signal the resumption of the ...

GBPUSD breaks below 1.9736 support and down trend resumes. Further fall to test 1.9337 previous low support is expected. Near term resistance is now at 2.0193, as long as this resistance holds, we'd expect down trend to continue.For long term analysi...

There is one word that sums up my final two weeks of trading in March: whipsaw. I was shaken out of just about every position I entered during that time period. My trading head just wasn't screwed on right during this time. Trading was well down...

I have just started reading the book by economist Paul Ormerod "Why Things Fail" - although his focus is on businesses I saw some immediate correlations to trading in the opening chapters.For instance, he suggests that business failures, both large a...

AUDUSD broke below 0.9121 key support and formed a short term cycle top at 0.9252 level. Further fall to test 0.8953 previous low is possible in a couple of days. Key resistance is at 0.9252, as long as this resistance holds, we’d expect down trend t...

GBPUSD breaks below 1.9926 key support and confirms the short term cycle top at 2.0193 level on 4-hour chart. Further fall to test 1.9736 previous low support is now in favor. Key resistance is at 2.0193, only break of this level will signal the reve...

USDJPY formed a cycle bottom at 95.77 level on daily chart. Further rebound to 102.50 area to reach the next cycle top on daily chart is still possible in the next several days. Key support is at 95.77, only break of this level will signal the resump...

GBPUSD’s rebound from 1.9736 extends to as high as 2.0193. The pair might be forming a short term cycle top on 4-hour chart. Key support is located at 1.9926, a break of this level will confirm the cycle top and deeper decline to test 1.9736 previous...

USDJPY formed a short term cycle top at 101.03. Deeper decline to 97.00 area to reach the next cycle bottom on 4-hour chart is still possible in a couple of days. Key resistance is at 101.03, a break above this level will signal the resumption of the...

I have seemingly weathered the worst of the drawdown I was experiencing. In an earlier journal entry I stated that I saw the middle of last week as a key time in determining if AUD-USD would continue on its descent or if it would hold firm and maybe ...

The U.S. Dollar Index shorts remain undeterred.  Friday's 76.20 low remain intact however the sideways movement on the intraday chart hardly screams "bull" so before entering an ill-fated entry based on the expectation of a Dollar ...

GBPUSD is in up trend. The fall from 2.0873 is treated as consolidation to the up trend. Further rise towards 2.1000 is still possible after consolidation. Near term support is at the up trend line from 2.0257 to 2.0563, and as long as the trend line...

EURUSD formed a short term cycle bottom at 1.4125, and broke above 1.4348 previous high. Further rise towards 1.4600 is still possible in the next several days. Near term support is at 1.4300, and as long as this support holds, up trend will continue...

The forex is buzzing with comments about the change in the risk environment. The JPY is strengthening against just about everything, stocks are down again following Friday's rout and the USD retraced last weeks losses against the EUR and GBP. However...

My last trade update was two weeks ago, just after what I interpreted as a spike and reverse on EUR-USD (as a result of the October NFP release). The following Monday the euro bulls ran out of steam and the spike low was tested. I pretty much ju...

I thought it might be useful to highlight a television show that I try to catch each morning on CNBC World. The show is cunningly titled Foreign Exchange and can be used to get a recap on how the currency markets have been performing over the pas...

Here's a quote from that book I mentioned recently, The Fifth Discipline by Peter M. Senge; he is talking about leaders in business who had a genuine passion and commitment to the vision of their business, but the company collapsed regardless due to ...

EURUSD might be bottoming at 1.4031 on 4 hours chart, key resistance is at 1.4199, a break above this level will confirm the cycle bottom, and rise above 1.4281 is expected to follow. Near term support is at 1.4031, if gives way, lengthier correction...

The FXstreet.com Trader of the Year 2007 contest is now over. It ran from June 1st to September 28th. I participated in the contest and ended up coming in third. I was pretty surprised at how few people made it to the finishing post. Out of ove...

In case you missed it, one of our readers submitted a news item from Forbes.com providing a long-term look at interest rates and housing. Read the Forbes.com article here. In the article, Bill Gross (fund manager at Pimco) offer...

The Chinese government unveiled a new $200bn investment fund through which, they will be distributing some of their forex reserves. Where would you put that money? All on one bet short the EUR/USD? ...

Barron's just came out with its annual listing of the "Best 50 Hedge Funds." Topping the list was RAB Special Situations with a 3-year cumulative average return of 47.69%. Of the top 50, only 24 of them have an a...

by S. Wade Hansen One of our PFXers made a post in our forum and posed a great question about self-discipline. He said: "Is self-discipline in trading something that grows with time and experience?" Personally, I don't think your em...

9/26/2007 by John Jagerson Durable goods orders fell by 4.9% in the US, which was more than expectations. So why is there such a lukewarm reaction? Part of it is that unexpected bad news...

EURUSD is forming a short term cycle top at 1.4281 on 4 hours chart. Further pullback towards the up trend line from 1.3550 (Sep 4 low) to 1.3827 (Sep 18 low) is expected. However, the fall from 1.4281 is treated as consolidation to the up trend, and...

One of the hardest areas to tackle and improve as a trader is our own psychology. Often times we don't even know where to begin. It is just as well that there is a thriving personal development industry out there that any aspiring trader can tap...

AUDUSD is in up trend, and further rise towards 0.8870 previous high is expected. Near term support is at the up trend line from 0.7675 to 0.8275, a break below the trend line support will signal consolidation to the up trend. For long term analysis,...

I am still alive, but I have had nothing to say about trading. This doesn't mean I've been inactive, but I think I'm in a period of 'consolidating' some things I learned. I have noticed in the past that these periods are quiet times... Growth spurts ...

As expected, USDCAD broke below 1.0000, and the fall from 1.0589 extended to as low as 0.9935. Further fall towards 0.9800 to reach the next cycle bottom on 4 hours chart is still possible later today. Near term resistance is at the falling price cha...

I feel much more relaxed and even-minded about my week's trading performance since I wrote my journal entry earlier today. It is as if putting the details of my week's trades into a journal entry has cleansed them from my mind. I spent most of ye...

Issue 35: Thursday, September 20, 2007 The First Cut is the Deepest Today's comment is by our guest currency commentator, Chuck Butler. Chuck is the P...

USDJPY is forming a sideways consolidation in a range between 111.59 (Aug 17 low) and 117.11 (Aug 23 high). Further rise towards 117.11 to reach the next cycle top on 4 hours chart is still possible later today. Near term support is at the up trend l...

GBPUSD formed a cycle top at 2.0365 on daily chart. However, the fall from 2.0365 is treated as correction to the up trend, rise above 2.0652 is still in favor, and a break above 1.0365 previous high will confirm such case. Key support is at 1.9652, ...

Sorry about the delay, but the decision on how much cash (that used to earn five percent) to convert to the streetTRACKS Gold Shares ETF (AMEX:GLD) was not an easy one - it turned out to be about ten percent, which should help in a very small way to ...

We are still on our way home, but this story about former Federal Reserve Chairman Alan Greenspan just couldn't be passed by without commenting. From the man who encouraged the masses to take out adjustable rate mortgages and who lauded the financial...

AUDUSD is testing the previous high resistance at 0.8438, rise above this level will signal resumption to the up trend and further rise towards 0.8550 can be seen. Key support is at 0.8342, a break below this level will signal the reversal to the up ...

Greetings Sports Fans! -- Ok, so the credit market hasn't exactly recovered yet. Not even close. Personally, I believe there's a lot more dirty laundry that will be scrubbed before this ...

Within the model portfolio at Iacono Research, a similar decoupling has been seen in recent weeks, but David Gaffen at the WSJ MarketBeat blog made it official the other day calling the parting of ways for gold and stocks "Splitzville".Volatile coupl...

EURUSD is in up trend. The rise form 1.3360 extended to as high as 1.3814, and further rise towards 1.3851 (Jul 24 high) to reach the next cycle top on 4 hours chart is expected. Near term support is at the up trend line from 1.3360 (Aug 16 low) to 1...

I propose that answering the question "daddy, where does money come from?" is one of the most difficult of childhood questions. Give me the "where do babies come from?" any day. I wonder if I could get away with the story about a stork again?I am a...

The Swiss franc has been gaining strength during the past few weeks, and it is set to strengthen even more this week---causing the USD/CHF to plunge. Looking at the PFX Seesaw of Relative Strength for the past week, you can see that the CHF has jumpe...

Fed is being "encouraged" by the government to persuade banks to assist sub-prime borrowers with their mortgages. The government wants banks helping borrowers for the next couple years as mortgages re...

The Wall Street Journal reports($) on another Alan Greenspan sighting where the former Fed chairman once failed to make the connection between basic human instincts and easy money policies by the central bank.Mr. Greenspan, Fed chairman from 1987 to ...

GBPUSD is testing the resistance at 2.0232, a break above this level will signal the resumption of the up trend and rise towards 2.0450 area can be seen. Near term support is at 2.0042, down trend will be confirm after breaking below this level. ...

Yesterday, the Reserve Bank of Australia held rates steady at 6.5%. Today, we'll hear from the Bank of Canada, and tomorrow, the Bank of England and the European Central Bank. I don't expect any changes in rates, as these decision-making bodies ma...

As many of you know, I am a big advocate for the advantages of using options in the forex. They are a great way to speculate, manage risk and hedge against losses in your forex portfolio. The same strategies used by options traders in the stock mar...

You get a different feel for the news while on the road - such is the case with all the Bernanke-talk of late. It seems that everyone is asking the same question - elected officials, USAToday, CNN, etc. - when is the Fed going to cut short-term inter...

USDCAD bottomed at 1.0469 on 4 hours chart, the rise from 1.0469 extended to as high as 1.0676. Further rise towards 1.0866 previous high is expected and a break above 1.0690 will signal the resumption of the up trend. Key support is at 1.0469, only ...

U.S. consumers have been feeling a little anxiety recently as home prices drop in many markets and inventories rise. Loans are harder to get and houses are getting harder to sell. This housing trap may bring volatility into the financial markets wi...

One of my favorite podcasts is Bill Gross' from Pimco. He manages the largest bond fund in the world and has a remarkable feel for the market. I highly recommend checking out his podcast at pimco.com. Today we saw the news that Pimco's Total Return...

EURUSD is in up trend, the rise from 1.3360 extended to as high as 1.3683, and further rise towards 1.3851 (Jul 24 high) to reach the next cycle top on 4 hours chart is expected. Near term support is at 1.3550, as long as this support holds, up trend...

This story from The Economist asks the question that former Fed chairman Alan Greenspan probably never asked. Whether or not Ben Bernanke wonders about this from time to time is an intriguing thought.Does America need a recession?THE late Rudi Dornbu...

I conducted a survey on my website the other day to find out what else readers were investing in. Overwhelmingly, the answer was stocks and options. That was not a surprise. I talk to investors, all the time, that are experienced in the equities ma...

I blew up my first account when I started trading in the forex market, and I'm extremely grateful that I did. I learned invaluable lessons as I panicked, raged and wept. Those lessons have helped me tremendously as I've weathered the storm during t...

While I recognize oil prices are not the only factor influencing the USD/CAD cross, it is certainly an important one. Since the first of August, crude prices have been dropping. That has not followed on the USD/CAD itself, which is a little unusual...

I am seeing a real divergence of opinion amongst some great analysts out there about whether the Fed will be cutting rates in September and if they will, how much they will cut. The stock market in the U.S. has been performing well ever since the c...

On Friday global markets received a welcomed surprise when the Federal Reserve cut its discount rate by 0.5%. The discount window controls the rates that banks can lend and borrow money between one another. ...

If you've been watching the Canadian dollar (CAD) this year, you know it has been throttling the U.S. dollar (USD). The USD/CAD has fallen more than 1,000 pips since March, and it looks like there is more to come.Source:MetaStockProFX Starting in Jul...

EURUSD rebounded from the up trend line from 1.1825 (Feb 2006 low) to 1.2483 (Oct 2006 low), sideways consolidation will be formed in a range between 1.3360 and 1.3545. Further fall towards 1.3262 previous low is expected to follow after consolidatio...

Not more than two weeks ago, Countrywide Financial (NYSE:CFC) began hiring laid off workers from other mortgage lenders who, for one reason or another (usually something bad), didn't need as many employees anymore.Earlier today, it was reported that ...

USDCHF is in up trend, the fall from 1.2214 is treated as correction to the up trend, rise towards 1.2400 is still possible after correction, and a break above 1.2214 will signal the resumption of the up trend. Near term support is at 1.1993, break b...

Reading through a few paragraphs toward the end of today's front page WSJ story($) on the plight of subprime homeowners Mario and Leticia Montes stirred memories of the "equity cushion" talk emanating from the Federal Reserve a year or two ago.Being ...

Well so much for my experiment; the Aussie already hit my far target at 0.7950 and I'm out. I thought it might meander its way there over the next coming few days and I could try my hand at weathering some consolidation but this is something else, an...

Berkshire Hathaway, the holding company managed by the Oracle of Omaha, Warren Buffett, appears to be buying up additional shares of some the United States' largest banks---Bank of America, Wells Fargo and U.S. Bancorp. In the company's second quar...

USDCHF broke above 1.2163 (July 25 high). The pair is now in up trend. Further rise towards 1.2400 is expected in the next several days. Near term support is at the up trend line, and as long as the trend line support holds, up trend will continue.&n...