Daily Forex Trading Edge

Breaking Down the Commodity Currencies

Brian Kahn — Fri, 18 May 2012 14:31:08 +0000

Friday, May 18, 2012

Good Morning,

Posted By:

Brian Kahn

What are the currencies to focus on now?

Raghee Horner — Thu, 17 May 2012 19:51:38 +0000

Daily Commentary

Thursday, May 17, 2012

The key to trading the pairs is understanding where the movement is coming from. Right now the dollar is moving higher leading the way for the risk OFF environment that is ruling the market and despite the fact that the Dow is not selling off with the same acceleration that the greenback is rallying, there are plenty of pairs that are moving with the fear that has taken hold of the market psyche.

Posted By:

Raghee Horner

AUD/USD and the Materials Sector

Brian Kahn — Thu, 17 May 2012 15:08:13 +0000

Thursday, May 17, 2012

Good Morning,

Finally, we have a bit of a bid to pairs crossed with the USD. But first, as always, fundamentals. June 16th is the "next day" we hear news out of Greece, but obviously things are tenuous in Europe and you must stay vigilant and trade appropriately given surprise announcements can happen at any time.

In the US, weekly initial claims came out and an analyst on NPR mentioned it was "not a great number, but a good number". I disagree. Until we see the number declining instead of staying flat/rising, these are not good numbers.

Posted By:

Brian Kahn

GBP/USD at 61.8% Retracement

Brian Kahn — Tue, 15 May 2012 21:41:44 +0000

Tuesday, May 15, 2012

Good Morning,

Posted By:

Brian Kahn

EUR/USD Versus GBP/USD

Brian Kahn — Mon, 14 May 2012 16:01:25 +0000

Monday, May 14, 2012

Good Morning,

As I said last week, the markets can go lower, a lot lower. I admit, we didn't forecast (or need) JPM's debacle, but aside from that, economic news has been very poor as of late. Let's continue to watch economic news this week. For a preview, take a look at your economic calendar and focus on:

**Bernanke

**retail sales

**claims

**any other international announcements, especially interest rate talks

**earnings data

Posted By:

Brian Kahn

USD/CAD Holds at Psychological Level

Brian Kahn — Fri, 11 May 2012 14:33:07 +0000

Friday, May 11, 2012

Good Morning,

The "guru" of risk management Jamie Diamond hits us with a monster "mistake" that could filter through to the markets at some point, but for now, the support level at 1350 in SPX is still in tact.

Fundamentally, inflation was "tame" today, but as we all know, that number is a non-event as the Federal Reserve doesn't care what it is. Next week is a very, very light week on the calendar. We do have retail sales and claims in addition to a smattering of earnings reports. Other than that, keep your ear to the wires for international announcements.

Posted By:

Brian Kahn

Watch for those larger corrections in the trend!

Raghee Horner — Thu, 10 May 2012 17:07:32 +0000

Daily Commentary

Thursday, May 10, 2012

The risk off environment may be taking a breather and if it does a near-term floor in the Dow and ceiling in the U.S. dollar will be put in place as both these markets are in a chop.

The risk off environment may be taking a breather and if it does a near-term floor in the Dow and ceiling in the U.S. dollar will be put in place as both these markets are in a chop.

Mind you, shifts in psychology often come in phases and this one will have to begin with a slow down in the RISK OFF attitude in the equities markets. If the Dow respects the previous support area, then the bearish exhaustion could lead to momentum higher, but there must be respect for support first to even attract bullish attention.

Posted By:

Raghee Horner

EUR/USD Analysis

Brian Kahn — Thu, 10 May 2012 14:49:37 +0000

Wednesday, May 9, 2012

Good Morning,

Fundamentals first. Claims came is as expected, but what I take away from this is that they aren't improving. Tomorrow we have inflation data, but as the Federal Reserve has said, there isn't any inflation out there and if there was, we created it by weakening our dollar and we rather have a weak dollar that possibly provides growth. Speaking of the Federal Reserve, Bernanke was on the docket today, but I guess it wasn't anything market moving as I will show below in the technical analysis section.

Posted By:

Brian Kahn

Three Ways I’m Playing the Euro

Raghee Horner — Tue, 08 May 2012 20:46:49 +0000

Daily Commentary

Tuesday, May 8, 2012

While I know the EUR/USD is by far, the most popularly traded pair, there are other ways to play the drama unfolding in Europe and with more price and psychological clarity.

While I know the EUR/USD is by far, the most popularly traded pair, there are other ways to play the drama unfolding in Europe and with more price and psychological clarity.

Posted By:

Raghee Horner

Top of the Range in USD/CAD

Brian Kahn — Tue, 08 May 2012 15:33:38 +0000

Tuesday, May 8, 2012

Good Morning,

I am not going to go into it in depth, but for the most part, for 2 months, economic data has bee horrific. I can't stress it enough, horrific. Add to that a market that goes to the moon day after day after day when the Federal Reserve speaks - but that is the only time the equity markets go up. Add to that the mess that Europe is becoming. Yes, I said becoming, not became.
It all equates to the perfect storm.

Posted By:

Brian Kahn