For the past four trading days, the British pound has been stuck in a 200 pip range against the U.S. dollar and a 115 pip range against the Euro. However the bottom of the range in both the GBP/USD and EUR/USD have been broken, leading currency traders to wonder if the larger range will be [...]

Posted in 2009 british pound forecast, Bank of England, British Pound, Forex Technicals, GBPJPY, forex blog, gbpusd 3 Comments »

The 95 price level for USD/JPY has served as very strong support over the past few months and now that the currency pair is trading well below that price level, it appears that the floor is caving in.
The following chart illustrates the significance of the breakdown. USD/JPY is trading in sell zone, [...]

Posted in 2009 japanese yen, 2009 japanese yen forecast, Forex Technicals, Japanese Yen, forex blog 2 Comments »

I was on Bloomberg Television earlier today talking about the outlook for non-farm payrolls and how the dollar could react to it. For my full NFP and ECB Preview, make sure you read my special report What to Expect for ECB and Non-Farm Payrolls

Find more videos like this on www.truveo.com.

Posted in Bloomberg, Forex Technicals, ecb rate cut, forex blog, forex seasonality, non-farm payrolls 3 Comments »

We have a major technical break in CAD/JPY this morning. The currency pair has broken below trend line support, the 50-day SMA and the 23.6% Fibonacci retracement of the year to date rally. Next stop could be 81.50. Lower oil prices are playing a big role in the move. Read all about it [...]

Posted in 2009 canadian dollar, Bank of Canada, Forex Technicals, forex blog 1 Comment »

Although I am long term bearish dollars, I cannot ignore the fact that the near term outlook for the greenback has changed. Important technical levels (1.40 in the EUR/USD, 1.60 in GBP/USD and 97 in USD/JPY) have been broken and there is a good chance that economic merits rather than risk appetite could be [...]

Posted in 2009 eurusd forecasts, Forex Technicals, eur/usd, forex blog 2 Comments »