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Oct 14
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Oct 10
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FX Light - NFP's Spoiled The Fun

October 6th 2014 Last week’s NFP number spoiled my fun and ruined the nice weekly hammer candlestick in NZDUSD. Many pairs were extended and the dollar looked to be about to weaken. Alas we have to wait further.EURUSD – Last week’s high comes via 1.2714 so watch this market as a clue to the likely performance of USDJPY, NZDUSD etc.Gold prices dropped to the lowest level in 10 months, with traders now aiming to challenge the 1177.24-78.86 zone marked by the December 2013 low and the 38.2%…See More
Oct 6
Gary posted blog posts
Sep 30
Gary posted a blog post

FX Light - Dollar Strength Takes Out Stops.

 September 25th 2014. The Greenback Strengthened substantially overnight talking out EURUSD stops below 1.2750 and causing some panic across the board. NZDUSD – Due partly to domestic data and partly to the USD moves Kiwi selling accelerated and I know of at least one major trader who threw in the towel on long positions. Busted!! This game is not easy. “Money itself is never made or lost, it’s simply transferred from one perception to the next”. Wall Street 1986. Cold consolation to many Kiwi…See More
Sep 25
Gary's 2 blog posts were featured
Sep 24
Gary posted a blog post

FX Light - Bought AUDNZD

 September 24th 2014. Scalped EURUSD and XAUUSD overnight, quite profitable…..again. NZDUSD – So it may be a false dawn but I’m interested in the fact that Kiwi closed off the lows yesterday and is slightly higher this morning. Not much to write home about except looking at that other pair AUDNZD we have managed to put in a daily higher high coming off oversold conditions. Trying to predict the bottom or top of anything is a fools game BUT technically a higher high is worth taking note of.  I…See More
Sep 24
Gary's blog post was featured

FX Light - They say Forex Is Risky But What About Tesco This Morning?

September 22nd 2014. They say that trading Forex is risky and of course it is. However the implication is often that trading equities is not risky. For those people I have one word this morning, Tesco! TSCO and all equities gap at least five times a week and while forex can gap too, it’s not anywhere as much as that. End of rant!It is a slightly mixed bag this week. I will be looking for a move higher this week in Kiwi, EURUSD and GBPUSD but otherwise it should be a case of dollar…See More
Sep 22
Gary posted a blog post

FX Light - EURO Forming Medium Term Support Ahead Of The Fed Statement

 September 17th 2014. So far over the course of the last 24 hours we have seen if not a relief rally then certainly a medium term base in some of the pairs that became very overstretched due to aggressive Dollar buying. This evening we will get the Pace of Treasury Purchases for September followed by the Fed statement from Yellen so I don’t see a whole lot happening ahead of that. Cable awaits the Scottish Referendum results and the vote tomorrow.EURUSD – Will be very quiet ahead of the Fed…See More
Sep 17
Gary posted blog posts
Sep 16
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FX Light - USDCAD Performing

“There is only one side to the stock market; and it is not the bull side or the bear side, but the right side” Jesse Livermore – Legendary Trader. 1877-1940 September 12th 2014 – Good morning. The mood music continues to be about Dollar strength across the board. Also it may be worth noting that the polls are swinging…See More
Sep 12
Gary posted blog posts
Sep 9
Daologic commented on Gary's blog post FX Light - Dollar Strength Across The Board as Scottish Polls Show Independence Momentum
"DB says 1.25 year end. Let's see."
Sep 4
Gary commented on Gary's blog post FX Light - Dollar Strength Across The Board as Scottish Polls Show Independence Momentum
"Take EURUSD out to a monthly time frame and you will see the tightening wedge formation begun in 2007. I figure we will finish the year below 1.30 but obviously it won't go there in a straight line. Many studies are stretched at the moment. "
Sep 4

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Former Stockbroker
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Discretionary
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FXCM

Gary's Blog

FX Light - Threw A Grid Over EURUSD Over Retail Sales

Posted on October 15, 2014 at 9:20pm 0 Comments

October 16th 2014 I Scalped Gold overnight and EURUSD too. Yesterday was a volatile day most particularly in the Indexes. As the weak retail sales number came out of the U.S yesterday I essentially threw a grid across EURUSD and scalped it for 1.14% gain. That on top of my Gold trades made for 3% yesterday.

EURUSD – We have now closed above 1.2790 on a daily basis. The clincher would be such a close on a weekly basis so two more days to go…

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FX Light - Sold Gold For A 2% Profit

Posted on October 15, 2014 at 12:52pm 0 Comments

October 15th 2014 So I’m all over Gold this morning and just closed nine open positions profitably.  I’m also wondering about the potential correlation between USDRUB and EURCHF. 

 

EURUSD – My outlook here remains largely unchanged. In the short term watch for a break below 1.26 for a continuation to multi-week lows at 1.2499. 1.2790 is last week’s high. My bias is to buy for a swing trade on a one hour close above that level.…

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FX Light - USDRUB & The Wider Implications

Posted on October 14, 2014 at 12:50pm 0 Comments

October 14th 2014. You may have noticed my recent interest in USDRUB. I am always looking for decent set-ups but this one seems to have wider implications. What will happen if a large Russian Corporate defaults on foreign currency debt because they not longer have enough Rubles? Given the latest exchange rate that is entirely possible. What will that do to the Dollar across the board, or Gold and the Swiss Franc for that matter? Food for…

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FX Light - Russia Forced To Deny Exchange Controls

Posted on October 13, 2014 at 3:01pm 0 Comments

 

October 13th 2014 Gold has once again managed to find multi-year support at $1180 for two weeks in a row. Meantime EURUSD is finally putting in weekly higher highs and looking around at many markets it feels like the dollar will finally take that breather. 

 

EURUSD – 1.2790 is last week’s high. My bias is to buy for a swing trade on a one hour close above that level. Conversely a close below 1.2499 would…

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