Morning Star Candlestick: A Forex Trader’s Guide
Signalling a bottom in the market and possible reversal, the Morning Star is a useful FX tool.
How to Trade Shooting Star Candlestick Patterns
Learn how to trade the Shooting Star; a reversal pattern commonly used by FX traders.
Euro Sinks as US Dollar Gains on Inflation Fears Boosting Yields. Where to for EUR/USD?
The Euro softened today while the US Dollar found support from rising Treasury yields in the Asian session. Will EUR/USD continue to rally?
Dollar Brief Correction or the Beginning of a Downswing?
The Dollar is continuing its retreat, which started precisely two weeks ago. Over this period, the Dollar Index has retreated 3.5 from the 20year highs, losing about half of the gains from the last leg of the rally since late March. And now the big question for investors and traders is whether we see a […]
New German Inflation Record did not Scare off Euro Buyers
A preliminary estimate showed that German inflation continues to pick up, reaching 7.9 yy in May. This is a new inflation record since 1951, and the reading was also above the forecast of 7.6. A separate release of import prices noted an acceleration of this type of inflation from 31.2 to 31.7. Although it was […]
US Dollar Bearish Breakouts in Focus: USD/SGD, USD/THB, USD/IDR, USD/PHP
The US Dollar could be vulnerable to more weakness against ASEAN currencies in the week ahead. Downside breakouts are in focus for USD/SGD, USD/THB and USD/IDR.
Cost of Pasta and Bread Surges for Britains Poorest
LONDON, May 30 Reuters Britain39;s cheapest brands of pasta and bread have surged in price over the past year, but overall the cost of lowerpriced food and drink staples has risen at a similar pace to average prices, the Office for National Statistics said. Antipoverty campaigners have pointed to sharp price rises in the cheapest […]
Using the Rising Wedge Pattern in Forex Trading
The Rising Wedge is a popular reversal pattern that is predictive in nature and can give traders a clue to the direction and distance of the next price move.
Oil Climbs above 120 Barrel ahead of EU Meeting on Russia Sanctions
EU to discuss sixth package of sanctions against Russia U.S. driving season kicks off amid supply concerns OPEC expected to stick to supply release plan LONDON, May 30 Reuters Oil prices climbed above 120 a barrel on Monday, hitting their highest in more than two months, as traders waited to see whether a European Union […]
Weekly Fundamental US Dollar Forecast: Rate Hikes Fade, Hope Hangs on NFP
The US Dollar (via the DXY Index) has lost ground for two consecutive weeks.