The US dollar continued to hit new decade lows against the Japanese Yen and is inching closer to my 85 target. As you can see in the chart below, there is no support from here to 85. With US interest rates below Japanese rates, more adjustment is happening in USD/JPY.
I do [...]

Posted in Fed Rate Cut, Fed Rate Cut Expectations, Fed fund futures usdjpy, Federal Reserve, Forex News, Forex Technicals, boj intervention, forex signals, usd/jpy, usd/jpy intervention 14 Comments »

I really like the Australian dollar for a variety of reasons:
Technically, the currency pair is trading in the Buy Zone, which I establish using Bollinger Bands. But more importantly, in addition to being in the Buy Zone, it has broken out of a triangle and is trading above the 50-day Simple Moving Average. [...]

Posted in Australian Dollar, Fed Rate Cut, Forex, Forex News, Forex Technicals, Reserve Bank of Australia, aud/usd, forex blog, forex signals 16 Comments »

As you know, I have been very bullish EUR/GBP this week. On Monday, I showed you this chart of EUR/GBP and told you that is headed for 90 cents from 87 cents and today it has pretty much reached that level. The high in EUR/GBP was 0.89978, 2.2 pips from my 0.90 target. [...]

Posted in Forex News, Forex Technicals, eur/gbp, eur/gbp record high, forex blog, forex signals 7 Comments »

USD/JPY hit a 13 year low of 88.22 today after news that the bailout plan is not going happen before the new year. If you have been following my blog, I called for a move down to a new 13 year low Wednesday morning. At that time, USD/JPY was trading at 92.50-93.00. [...]

Posted in Bank of Japan, Fed Rate Cut, Federal Reserve, Forex News, Forex Technicals, Intervention, boj intervention, forex blog, forex signals, usd/jpy, usd/jpy intervention 5 Comments »

Hawkish comments from ECB member Weber is driving the EUR/USD through the roof. The currency pair is up close to 2.5 percent or more than 300 pips.
After cutting interest rates by 75bp earlier this month, ECB member Weber said today that a January rate cut is not a done deal. [...]

Posted in ECB, Fed Rate Cut, Forex News, Forex Technicals, Trichet, ecb rate cut, eur/gbp, eur/gbp record high, eur/usd, euro, forex blog, forex signals 2 Comments »