Most of us are familiar with the Dollar Index, but there is another very useful index which tracks the Japanese yen against a basket of primary currencies. 

The great thing about the Yen index is that it is not European weighted and therefore far more representative of Yen strength and weakness.

The…

The chart above is a 3 minute over 3 days on the EJ. As I am sure you know - I am mainly a scalper and so you would expect to see me on the small frames - but I think its important to point out - that every week - I do look at my monthly / weekly charts and most days will have brief look at the "history channel" - ie…

Eurodollar's current phase of price action on the daily chart has now been in place since early March, with the pair oscillating between 1.2750 to the downside and 1.32 to the upside.

Price action over the last two weeks has been classic eurodollar with an initial move lower now reversing with the pair now…

UBS - "USDJPY BULLISH With the broader bull trend in place, the next major resistance focus is at 105.60. Support is at 101.26.

EURUSD BEARISH Any upside will be limited as bearish conditions persist. Resistance is at 1.2967 and 1.3020. Support is at 1.2797, a break below would expose 1.2746 ahead of the critical 1.2662.

The pair sold off sharply to test support at 1.5128 yesterday.

GBPUSD BEARISH There is scope for more downside in the near-term. Next support is at 1.5034 ahead…

BMO capital Markets - "Given the strength we’ve seen in EUR/USD so far this week, we suspect that the pair is roughly priced for a rather neutral outcome from Bernanke this afternoon (or even slightly dovish), with the spot level now roughly 0.70% above its recent low, printed over time in the wake of the three, consecutive lower-than-expected prints on US initial jobless claims between the weeks of April 19th and May 3rd. That would make a temporary move into the 1.2980 area today (roughly…

Hi everyone

I will be attending iFXExpo in Cyprus on 29th & 30th May 2013.

iFXEXPO is the largest financial B2B convention dedicated to the FX industry connecting service providers and brokers with over 1,500 senior executive attendees, over 60 exhibitors from around the world and top…

Currently we are at 1.0324. IF we can break this top we are we are looking for a move to the 1.0363 Day top and then a continuation up to the R5 resistance @ 1.0397.  We are bullish.    The current average daily trading range (ATR) is 65 pips.…

eur/usd   buy  2967   buy  2862

usd/jpy  buy  10281   sell  10212

dow 30   buy  15446    sell  15327

apple  buy  445   sell  432

The EURUSD halted its weakness at the key support 1.2795, with the break of the key resistance 1.2890, the pair is likely to consolidate with bullish bias, next resistance is at 1.3030 where strong cap is suggested , so If 1.3030 holds, there’s a risk to back towards 1.2795 levels, losing this level on a daily closing basis would open the way towards 1.2625 levels first ,ahead of 1.2500 levels.

On the upside , a daily close above 1.3030 is likely to weaken to current bearish run but,…

Westpac - "Over the last month the optimal currency to have owned CAD against has been AUD. For the week ahead however we wonder whether USD/CAD may be the better pair. USD/CAD is currently hovering just below 1.03, levels where previous rallies this year have failed. The key data release in Canada this week is March retail sales. (...) On balance model signals and event risk seem to suggest a sustained break in USD/CAD above 1.03 is a bridge too far, at least for the week ahead. EUR/CAD…

After a very quiet start to the week, the markets will be busy on Wednesday. The US Federal Reserve will also be front page and center, as the Fed releases the FOMC minutes and Bernard Bernanke testifies in front of  Congressional committee. After sustaining sharp losses,EUR/USD has posted a modest rally this week, gaining about one cent since Monday. In other economic news, the US releases…

Take just the pinbars with the CCI in overbought (200 and 100 levels) or in oversold (-200 and - 100) teritory and trade all the way til the CCI reach the other side (from overbought to oversold or inverse).

Don't mess with it, don't hesitate, just trade. SL at the high or low of pinbar, TP at the other extreme state of CCI.…

As you may know, I'm a big fan of MahiFX's web app. Unfortunately I can't use it in the US, but I always trade on there when I'm in Europe and practice my scalping skills when in the US on demo.



Anyway, as I was reading their blog this morning, I stumbled upon the shortest survey I have ever seen, and it somewhat confused the heck out of me!…

JPY crosses are moving higher this mooring after BoJ Kuroda highlighted that change in fx-rates will boost export volume, but not earlier than in 6-9 months. This means that there current policy has a positive impact on the economy that’s why we can see strong rally on Nikkei which is pushing the JPY down, or XXX/JPY to the upside.



We are long EURJPY from 131.90 with members and so far pair is moving very nicely in our favour with possible extension to 133.80 in sessions…

USD remained sideways for the most part. USDCAD has been rejected from 1.03193 - 1.03050 zones twice indicating pressure from top. Current price action indicate Shorts on USDCAD testing strong resistance at 1.02205 -1.02065 zone.

For Intraday Traders - Go Short at break of 1.02930 - 1.02790 zones on lower end

Sardar…

If some one would tell me to choose only one indicator to trade with, that would be the ADX. ADX is one of a kind, it is the mother and father of all indicators and I found-it to be the most complet indicator.

The ADX is a trend indicator but also an oscilator. The ADX line, the trend indicator show us A VERY IMPORTANT PIECE OF INFORMATION in a visual way, the STRENGHT of a trend. In the picture below the white line is the ADX and is an indicator of a strenght of the trend. The ADX…

After having my last post on Usd.Cad, pair is trading in series of impulse waves to complete it’s wave Y. Expected target zone for wave Y is 1.0798. Pair will pause here soon on weekly resistance. RSI also start diverging. I expect pair will be in flat correction for wave iv of [3].

Recommendation: 

Long 1/2 @  1.0233; 1/2 @ 1.02150…

EUR has reached my long targets from yesterday and is currently at the resistance line 1.2930 which is also the border of the ascending channel from 1.2047. Breaking above may happen only on dollar negative news from Mr.Bernarke, so untin that and FOMC decision i expect a range trade between 1.2860 and 1.2930, significant moves may happen in later american session or tomorrow.

GOLD is again in a stand-by, waiting for the dollar to choose direction.

For today:

LONG EUR…