Forex Conqueror

Daily Chart Art – January 24, 2012

Caitlin Mirams — Tue, 24 Jan 2012 15:50:02 +0000

EUR/USD: 1-Hour

For the past couple of the days, EUR/USD has been rallying strongly. That being said, I think it’s safe to say that the pair’s trend is up, which means going for long trades is a good idea. Looking at the 1-hour chart, we can see that the pair is currently on retracement mode as it makes its way to a former broken resistance. If you’re bullish on the pair, this level could be a nice opportunity to buy at a cheaper level and ride the trend, especially since the level lines up nicely with the 38.2% Fibonacci retracement level.

NZD/USD: 4-hour

Now let’s examine a pair whose uptrend could end very soon. As you can see, NZD/USD has been moving up day after day for quite a while now.

Oil Driven by Iran-Linked Jitters, Gold Finds Support in Inflation Bets

Bethany Colton — Mon, 23 Jan 2012 02:59:06 +0000

WTI Crude Oil (NY Close): $99.58 // +1.12 // +1.14%

Geopolitical tension appears to be taking over as the main catalyst for crude oil prices. Indeed, correlations with measures of risk appetite – the S&P 500 as well as the MSCI World ex US index – are substantially diminished as all eyes turn to the escalating saber-rattling between the West and Iran, with the EU now set to join the US in boycotting the country’s energy exports and setting off worries of a retaliatory shut-down of the Strait of Hormuz.

UK Pound Finds Support in Currency Trading

Joshua Gibb — Sun, 22 Jan 2012 01:20:37 +0000

Like other high beta currencies, the pound is finding support against the US dollar today as risk appetite makes an appearance on the FX market.

The pound is gaining as good news in Europe bolsters equities, as well as riskier currencies. There is some hope that the eurozone will be able to get through this, as French costs come down, a Greek appears almost worked out, and buyers are willing to take Spanish bonds.

Pound often moves up when equities do well, and right now equities are getting a boost from good news in the US, as well as in Europe. For now, it looks as though high beta currencies, like the pound and euro, are going to find good support.

KBC: CEE currencies reverse gains after series of rating cuts acrross eurozone Hungarian

Bethany Colton — Mon, 16 Jan 2012 03:31:21 +0000

Hungarian talks with the IMF and EU reached stalemate as international lenders seem to keep a firm stance towards Budapest. According to comments after the meeting of Tamas Fellegi, Hungarian negotiator, and Christine Lagarde, IMF chief, there are several obstacles to the deal with IMF: Christine Lagarde’s top priority is probably the assurance of central bank’s independence.

Although the IMF does not directly push Hungary to abandon further changes in constitution, it wants to see trilateral agreement of IMF-EU-Hungary. That means the opinion of EU on all recent constitutional changes is going to be crucial. The European Commission should complete the analysis of new Hungarian laws tomorrow. Although Hungarian government declared it may consider to change the laws, if these are found to be in contradiction with Europeans norms and values, it is not going to be easy for the Hungarian PM to tackle such a severe political defeat.
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Why You Should Stop Trading The USD/JPY Pair In 2012

Caitlin Mirams — Fri, 13 Jan 2012 14:01:37 +0000

I stopped trading the USD/JPY last year because it was proving to be very difficult and the big price swings were becoming less and less frequent. Well the bad news is that it seems to have got even worse in 2012, and the USD/JPY pair looks as if it is on a life support machine at the moment.

For this reason I dont think anyone should be trading the USD/JPY pair at the moment. The price movements are just too small to make any real money from.

To demonstrate this point, just look at the weekly chart of the average true range (as indicated by the ATR indicator) of the USD/JPY pair since 2009.

You can see that the average weekly range was around 430 points just prior to 2009, and since then it has fallen lower and lower, and now stands at a pitiful 117 points. R

Market Makers playing around with EURUSD at 1.2850 ?

Joshua Gibb — Thu, 12 Jan 2012 21:21:14 +0000

There was a sharp downturn on the 13th in the very close vicinity to the home run price that currently exists on the EURUSD

You might want to keep an eye on this to see what the market makers decide to do.

FOREX NEWS – Euro rises on short-covering, gains seen limited

Bethany Colton — Mon, 09 Jan 2012 05:37:04 +0000

Shortcovering lifts euro, but gains seen limited

Italy, Spain debt auctions, ECB meeting loom

Aussie, kiwi hit new highs against euro

Stiff resistance for euro seen at $1.30

LONDON, Jan 10 The euro rose versus the dollar on Tuesday, recovering after hitting a 16month low the previous day as investors took profit on hefty short positions, but gains were seen limited before debt auctions later this week.

The euro was up 0.25 percent at $1.2798, off a high of $1.2810. Traders said demand from macro accounts, as well as bids from central banks starting around $1.2750, helped trigger stoploss orders above the Asian high of $1.2797.

The latest Commodity Futures Trading Commission data showed euro net short positions at a record and analysts said the currency would benefit from bouts of shortcovering.

Some saw scope for the euro to rise to around $1.29 but it was expected to face stiff resistance ahead of $1.30, with investors said to be looking to sell the currency on any rally.

The euro could come under renewed pressure before bond auctions on Thursday and Friday from Spain and Italy, the two countries at the centre of the euro zone crisis.

Euro negatively rules the market

Caitlin Mirams — Fri, 06 Jan 2012 15:53:58 +0000

A fresh wave of anxiety swept the markets caused by doubts over capital-raising plans and Hungary’s solvency. This led to investors selling shares in the continent’s major lenders. Italy’s biggest bank, UniCredit saw its share price fall by over 17% after it announced a heavily discounted rights issue, which valued stock at less than a third of it current price. Over in Hungary, the yield on 10 year bonds soared to over 10% after the government failed to find enough buyers for the 45bn forints (£116m) of sovereign bonds it was trying to sell. This combination of weakness in the Eurozone led to the single currency dropping to 15 month lows against Sterling.

This weakness in Europe was countered by positive data from both the UK and US. The UK’s biggest sector, services ended last year on a high while America’s efforts to improve their jobs market showed signs of progress. The US pri

Weekly Forex Currency Trading News Update

Joshua Gibb — Thu, 05 Jan 2012 00:47:19 +0000

German chancellor Angela Merkel says she’s expects turbulence in 2012 as she does everything to save the Euro and end the sovereign debt crisis in Europe. Merkel would meet with French president Sarkozy on January 9^th to discuss revisions for Europe fiscal regulations. A final agreement on German French proposals is due by leaders of the Euro Zone in March.

The Euro had a second consecutive annual loss for the first time in 10 years versus the US dollar. Last Friday the euro was trading at 1.2957, a decrease of -0.02%. The US dollar decreased for a second year against the Japanese Yen, trading at an average of ¥79.71 per US $ in 2011, one of its weakest years. The US dollar was last seen trading against the Japanese Yen at 76.85, a decrease in -0.99%.

The Canadian dollar averaged $0.9892 to the US dollar in 2011, which is its strongest annual value since 1976. Th

Crude Oil May Break with Broader Trends as US – Iran Tensions Mount

Bethany Colton — Mon, 02 Jan 2012 11:19:53 +0000

WTI Crude Oil (NY Close): $102.96 // +4.13 // +4.18%

Crude oil prices followed shares higher as expected yesterday on the back of a broad-based recovery in risk appetite. This time around, a pullback appears likely as S&P 500 stock index futures trade lower in early European trade, suggesting sentiment is souring anew. Investors’ anxiety comes as Eurozone debt crisis fears creep back into focus ahead of a pair bond auctions in Germany and Portugal. Later in the day, the spotlight will shift to US Factory Orders figures, which may prove to counter-balance selling pressure as expectations of the strongest increase since July.

Geopolitical jitters continue to provide the backdrop and may see crude decouple from sentiment trends amid continued jostling between the US and Iran, which traders fear may disrupt supply flows through the Strait of Hormuz that serves as the shipping route for close to 40 percent of seaborne crude. T

USD/JPY Classical Technical Report 12.22

Joshua Gibb — Fri, 30 Dec 2011 09:34:09 +0000

USD/JPY:The market has managed to successfully hold above the bottom of the daily Ichimoku cloud to further strengthen our constructive outlook and we look for the formation of a inter-day higher low by 76.55 ahead of the next major upside extension back towards and eventually through the recent multi-day highs by 79.55. Ultimately, only a close back below the bottom of the Ichimoku cloud would negate outlook and give reason for pause, while a daily close back above 78.30 accelerates.

To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to This e-mail address is being protected from spambots. You n

An Introduction to Crowdfunding [Infographic]

Caitlin Mirams — Thu, 29 Dec 2011 20:07:00 +0000

Driven in part by the explosion of vibrant social-networking media, the crowdfunding sensation now stretches to the far reaches of the globe.

Daily Chart Art – December 15, 2011

Caitlin Mirams — Sun, 18 Dec 2011 09:48:37 +0000

EUR/USD: Daily

A few days ago, Forex Gump asked “Will EUR/USD Test its 2011 Low?” and the answer seems to be a resounding “Heck yeah!” as of the moment. With the pair inching closer and closer to the 1.2875 area, the next question is: Will we see a bounce or a break? Stochastic is already in the oversold region, suggesting that euro bears are getting exhausted. However, the oscillator hasn’t crossed just yet, which means that there could still be enough selling pressure left. Whether you’re going for a bounce or waiting for a break, make sure to set those stops properly!

GBP/JPY: 4-hour

As I have mentioned in a previous post, GBP/JPY has been trading within a relatively tight falling channel.

U.S. Dollar Down as SNB Decision Leads to Franc Rally

Bethany Colton — Mon, 12 Dec 2011 17:20:05 +0000

Fundamental Headlines

European Session Summary

The U.S. Dollar’s remarkable run the past few days seems to have taken a breather on Wednesday. As the worst performing currency ahead of the North American trading session, this appears to be little more than a corrective move after gaining over 2 percent collectively across the board from Friday through Tuesday. Like the recent trend that has developed, the ‘dead’ trading period in between the Asian and European sessions produced another turn around in the majors.

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