Each week I try to post 1 trade that I feel more confident about but this week it has been a challenge to do that. I remain bullish on the USD simply because the US although has had quite a few 'missed expectations' kind of data released, it is without doubt ahead of anyone else in the recovery phase. Many pairs that I looked at are in retracement/consolidation phases, so moving away from USD pairs I am considering again EURGBP.
This was a trade I took earlier this month and I still…Continue
Over the past few months I have been approached by a few people seeking help in trading. First of all I do not consider myself any kind of expert in this business. I therefore cannot accept the responsibility of managing your account or trading with your money. I am also not qualified to provide any education in how to trade.
The purpose of this post is however to offer some advise on how to start the process of becoming better and more consistently profitable traders. Yes, it…Continue
Starting at the weekly chart, we can see a downtrend although the previous 11 weeks have been bullish. The 0.7683 area that used to be support has been now acting as resistance however, having successfully resisted an upward continuation 2 times in the last 4 weeks.
Switching to the daily view…Continue
Despite the confusion in the timing of interest rate increase in the USD, I think everyone agrees that the US will be the first one to increase rates. Keeping in view current trends and this fact, it seems prudent to keep a long bias towards the USD. Shorts on EU, AU and GU are obvious trends that may well continue but I am also looking to find a low risk new position and think that USDCAD may be the one to provide that.
The weekly view shows consolidation for the last 9 weeks in a…Continue