EUR/USD made some gains, enjoying greenback weakness. The upcoming week contains 7 events that will move the Euro. Here’s an outlook for these events and an updated technical analysis for EUR/USD. EUR/USD chart with support and resistance lines marked. Click to enlarge: In the middle of the week, I wrote about bullish signs for the Euro within the range . Indeed, EUR/USD closed higher, but didn’t break …

The dollar retreated in the past week on most fronts. Was it a temporary move? The upcoming week provides lots of American events, with Ben Bernanke’s rate decision being the highlight. Here’s an outlook for this week’s market-moving events. In the forex industry, the proposed regulations by the CFTC are again in the news, as their …

I will be participating in a special free FXstreet.com webinar next week entitled: “How To Trade Forex – Trading Gurus Reveal Their Secrets”. This two-part webinar will be held on Tuesday, March 16 and Wednesday, March 17. On both days, featured webinar presentations will begin at 15:00 GMT (11:00 AM U.S. Eastern Time). Besides myself, featured speakers will include: Markus Heitkoetter, Rob Booker, Andrei Pehar, Valeria Bednarik, and Kim Cramer Larson. For more information and to register for these sessions, please click on the following links: Part 1: http://www.fxstreet.com/live/sessions/session.aspx?id=c7c5e40c…

Bearish price action on USD/CAD, a daily chart of which is shown, has finally made a tentative breakdown below the key 1.0200 support level after respecting this level several times this week. Friday’s (3/12/2010) breakdown of 1.0200 establishes a new 19-month low for this pair. The current bearishness puts USD/CAD on a potential path towards parity (1.0000), a level not

It's been quite difficult trading my 4 hour trading system lately because technically speaking I should still be going short on the GBP/USD and EUR/USD pairs because the daily Supertrend indicator is still red. (…)

Canadian employment data was slightly better than expected. This was the hay that broke the camel’s back – after a week of struggle, USD/CAD finally broke 1.02 and heads down to parity. Canada’s employment figures surprised analysts for a second month in a row . Contrary to last month’s huge surprise, the numbers were only slightly better this time. Employment Change showed a gain of 20,900 jobs, better than 17,500 that was predicted…

Although the Super Bowl is long past us and the sports pages are now dominated by (delete as appropriate) NCAA basketball/Champions League/spring training/Man U takeover talk, Macro Man cannot get the familiar quarterback cadence (cunningly used as the title of today’s post) out of his head. As highlighted in this space yesterday, the market is aflame with rumours today that China will imminently hike either the RRR, its policy interest rates, or both. And not before time, in fairness. With CPI at 2.7%, the benchmark one year deposit rate (currently at 2.25%) is now comfortably negative. Nooooottttttt exactly what you’d call “appropriate” in an economy that rang up a 10.7% y/y growth rate in Q4. Compare PBOC’s lassitude with that of Malaysia’s Bank Negara, which a week ago surprised markets…

I can’t remember how long it’s been since I was hyping the Yen carry trade (though a browsing of the ForexBlog archives indicates 2 years). Upon the outset of the credit crisis, forex markets went haywire, and one of the main “beneficiaries” was the Yen, which soared as carry trades were unwound. Now, however, a similar set of circumstances that made …

Two American figures will be in the limelight todya: retail sales and consumer sentiment. In addition, we have employment figures from Canada and other events. Let’s see what’s up for today. Up to now, this week saw tight trading, especially in the major pairs. Only the Aussie stood out with a break, enjoying good employment figures among other reasons to rise. OK…

Recent bearish price action on spot gold, a daily chart of which is shown, has prompted a correction back down to the long-term uptrend support line. This bearish correction occurs right after price reached a high of around 1145 just last week. As of Thursday (3/11/2010) morning New York session, price is hovering right around the key trendline. For more technical analysis on gold, please click here for Thursday’s (3/11/2010) Chart of the Day . – James Chen, CTA, CMT * For information on my DVD set, High-Probability Trend Following in the Forex Market , please click here . * For information on my