Forex Watch – Did Godot Come?

Wednesday June 18th FOMC statement and the press conference did not muddy the water much but it also did not allay all fears and concerns. The Fed has stuck to its plan tapering to wind down its bond-buying program by the year-end and then start raising interest rates some times early next year. That was good…

Forex Market – Waiting For Godot

The Forex market seems to be waiting with a bated breath today’s FOMC Statement and Chairwoman Janet Yellen’s press conference. Already a press conference by ECB President Mario Draghi and a speech by BoE Governor Mark Carney have muddied the water by taking or hinting opposite policy actions. ECb instituted a negative rate policy to spur growth,…

EUR/CHF Breaking Above A Channel

EUR/CHF is currently a neutered trade as the floor of 1.2000 put in by SNB is still in effect. The data coming from Euro Zone marginally affects it. The Swiss economy is not as gung-ho as it was some time back, which means the data from Switzerland will also not impact it for some time. So the pair is left to…

Trade Alert – Get Into British Pound

Yesterday, we alerted for a possible trade in our seasonal long British Pound in June strategy if the  currency pair closes above previous day’s close. It did so our trade is one. For tracking purposes we will use the yesterday’s close. Go long GBP/USD at or near 1.67900. Three out of four entry strategy generated this…

Trade Alert: Get Ready For British Pound

A week ago, we wrote about going long in British Pound in June. The favorable time for this trade starts in early June. The price action of GBP/US pair tells us that this trade is getting ripe for getting into soon. We will watch it closely and if the entry signals are generated then will…

Let’s Pound In June

We first stated seasonal strategy to trade British Pound in 2012. We have further refined it by applying our proprietary algorithm for entry & exit signals, improving the already impressive returns. Since 2000, our strategy has produced 63 trades – for both Forex spot contracts and ETF – with a winning rate of 71.4%. The trade has been successful nine…

Swissy On The Move – USD/CHF Trade Setup

USD/CHF is in the process of completing a Double-Bottom pattern. It has been hovering around the breakout level for the last couple of weeks. Now it seems to be breaking out. The pair made two near term lows – one made on March 13th (point A in chart) and another on May 8th (point C).…

ECB Cuts – EUR/USD Trade Setup

Euro Zone is courting deflation and witnessing weak growth. Some talking heads on TV are wondering whether ECB President Draghi believes in data that inflation is not a threat. But on Thursday morning, ECB and President Draghi came out with blazing guns. ECB has cut the deposit rate to -0.1% from 0.0%, effective from June 11, 2014.The negative rate…

Dollar Facing Resistance Even With Tailwind

By reaching a low of 78.915 in the last week of January 2013, the Dollar index made a double bottom – it made the first bottom of 78.725 in early September. The index completed the pattern in late February 2013, by breaking above the intermediate high of 81.515 between the two bottoms made in the…