GBP/USD Trading at the February/March Consolidation Support
The GBP/USD has been very bearish since the BoE inflation report and Mervyn King’s testimony revealed that QE is still on the table. Inflation has been checked, and recent inflation data confirmed the trend of stabilizing prices. Lower commodity
ForexLive: Solid Selling Interst In USD/CAD Ahead Of 1.03
USD/CAD remains near the highest levels of the session at 1.0280. Option barriers at 1.03 are likely to be defended and the corporate order board is splattered with bids from there to 1.0360...more.
ForexLive: Oil Higher As Nuclear Talks Stumble
Recent lower oil prices is one of the few positive factors for global growth in the past month. A breakdown in talks would burn risk assets....more.
EUR/USD Technical Outlook – May 24th
Euro consolidation has been the theme over the last 24 hours or so as the spot rate finds support just above 1.2550. The notion is set to come to a head now as the exchange rate is likely to test resistance provided by the 1.3228-1.2945 descendi
Daily Chart Art - May 24, 2012
If you're hungry for more piptastic setups, then gather 'round playas! Feast your eyes on these charts on AUD/USD, USD/CHF, and USD/JPY!
ForexLive: NZD/USD's Choppy Correction Higher
The NZDUSD has been chopping higher with the NY action staying above the 200 bar MA on the 5 minute chart and a loose channel trend line. Earlier the price pushed above the midpoint of the move down this week but that attempt was quickly rejecte
Using MACD Divergence
MACD DivergenceIt is not an entry signal but rather an indication of the bias of the pair based on current momentum.
For example, price may be going higher but MACD is moving lower and that would be negative divergence.
Riding the AUD/USD Downtrend
So far so good! Just when I thought that I had missed AUD/USD's price action, the pair went up to trigger my first position! Here's what happened.
Daily Technical Strategist: EURGBP
EURGBP- We continue to hold our downside bias on EURGBP as we look for it to decline further towards the 0.7949 level.
USD/CAD Trading at Resistance Area Around 1.03
The USD/CAD indeed pushed to the 1.03 level after breaking above the 1.0050-1.0060 resistance. The 1.0280-1.0315 area represent resistance pivots back in January 2012, with 1.0315 being the 2012 high. Although this resistance area sent the market
USDJPY Moving Above 100 Hour MA
The USDJPY is moving above the 100 hour MA at the 79.45 level. The next target comes i at the 79.559 and then the 79.669. The 100 hour MA comes in at 79.72. BOJ Shirakawas said this morning that the BOJ will conduct powerful monetary easing....m
EUR/CHF Pops; 1.2070 and 1.2144 are Resistance Pivots
The EUR/CHF has been in a dead quiet range just above the 1.20 SNB floor. The range was like 10-15 pips wide at max. The EUR/CHF was pretty much playing dead throughout April and into May. Then out of no where in the 5/24 US session, around 9:00


