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Cowabunga System Daily Update: Tuesday, 02/01/11

posted by Valerie 480 days ago in Technical, Daily made popular 480 days ago

The entry was at the close of the candle at 1.6110 with a stop at the most recent swing low at 1.6081. Since I was 40 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.6150.

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Fundies for Direction and Chart Art for Entry Levels

posted by Valerie 480 days ago in USD, AUD, Fundamental made popular 480 days ago

Good evening! For today's market study, we'll take a look on why the Aussie had a one way ticket past parity and to the moon against the Greenback and a smart way to play it rallies like this. Check it out!

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The Dollar Accelerates Through 78.00

posted by Valerie 480 days ago in USD, Technical

This move has been one that has been setting up for some time: The U.S. Dollar Index's slide through 78.00. The break through this psychological level confirmed the negativity of the dollar's place in the world amidst a surging euro and worldwide

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Daily Chart Art - February 2, 2011

posted by Valerie 480 days ago in Technical, Daily made popular 480 days ago

Firstly, let's take a look at USD/CHF. The dollar sold-off like pancakes yesterday caused the pair to pierce through .9400, a major support level. With the presence of a bearish pennant, it looks like it is revving up for another down move!

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Daily Economic Roundup - February 2, 2011

posted by Valerie 480 days ago in Technical, Daily made popular 480 days ago

To say the dollar took a hit yesterday would be a tremendous understatement. It was downright pummeled by the other major currencies!

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Daily Chart Art - February 1, 2011

posted by Valerie 481 days ago in Technical, Daily

Let's kick off February with a bang! Here's something for y'all to keep an eye on. Yesterday, price action on USD/CAD formed a clear doji above parity. As you can see, parity has been a significant support and resistance level as of late.

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Vote in the Top 11 for 2011 Forex Tweeters Poll!

posted by Valerie 484 days ago in Special

Last week we did a quick hashtag trend within the forex community. We used the hashtag "#mustfollowfx" which people can add to their tweets if they want to vote for their recommended forex tweeters.

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Australian Floods to Drown Economy in 2011?

posted by Valerie 490 days ago in AUD, Fundamental made popular 490 days ago

The floods in Australia have caused a ridiculous amount of destruction. Some say it could cost as much as 20 billion AUD to clean up and repair the damage. I mean, flood waters have reached levels so high, fish have actually been spotted up in tr

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Turn Positive Thinking into Constructive Thinking

posted by Valerie 491 days ago in Trading Psychology made popular 491 days ago

At its very core, positive thinking is simply being optimistic about things. It is the tendency to take a favorable stance on things, hoping for the best possible outcome in any situation.

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Be aware of Directional Bias

posted by Valerie 491 days ago in Fundamental, Special made popular 489 days ago

This is more of a cautionary set up than one that I would've recommend taking. It involves the power of understanding the Directional Bias of the daily and how longer-term time frames (60 and 240-minute) entries should follow the Bias if there is

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Loonie Strength Ruffles BOC's Feathers

posted by Valerie 491 days ago in CAD, Fundamental made popular 491 days ago

For the third time in a row, the Bank of Canada (BOC) decided to keep interest rates on hold at 1.00% as expected. They did acknowledge that Canada's economic recovery picked up pace and even upped their 2011 GDP forecast from 2.3% to 2.4%.

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Germany: Boon or Bane for the European Union?

posted by Valerie 496 days ago in EUR, Fundamental

It ain't no secret that the European Union (EU) is going through tough times. The debt problems of the region have come to light in the past couple of years, revealing severely troubled economies.

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