Audusd is currently trading above some significant support at .9950 daily right shoulder area of the bearish reversal pattern. The bullish momentum started after the test of the weekly trendline at .9537. Since then, we have seen a bullish engulfing weekly close above the critical .9850 resistance. When the market traded above this zone, prior to the weekly trendline test, it did offer strong support, and has now adopted the same role effectively Read more »
Gbpaud Technical Analysis Update
Two days ago we bought the Gbpaud, based on a 4-hr range setup. Some softer-than-expected news saw it plunge over a hundred pips below the range support, before bouncing back almost as fast. Currently, the pair is back inside the range, but is seeing some resistance from the before-mentioned rising trendline from 1.6215. It is interesting to note that after hitting this line, it did form a nice set of tweezer bottoms on the hourly chart. It is a good idea for anyone currently holding longs to take some profit in this area, while anticipating a continued move towards the range resistance at 1.7520. Read more »
Good Breakdown Of The GDP Numbers
This is a bit dense for the average reader, but if you're like me (a nerd) and you like economic data but lack the time or knowledge to parse the numbers straight from the economists then you might find this article useful. Read more »
Just A Reminder: Short Term Losses Are Not Always Bad
Tyler Durden at Zero Hedge Writes an article pinning yesterday's equity down turn on the case against Goldman Sachs and the upcoming financial reform. This is the money quote: Read more »
Has The Economy Recovered?
The GDP (gross domestic product) grew at an annualized rate of 3.2% for this quarter. This is the third straight quarter of growth. Last quarter it was a healthy 5.6%. Although the rate of GDP growth was less robust this quarter many economists see the growth in consumer spending as a sign of a slow but continued growth. Read more »
Active ETFs Beat Money Market Rates
While money market rates are considerably low right now, many investors are turning to ETFs and other short-term bonds. Many conservative ETFs and bonds are actually beating money market rates currently. Read more »
Slow and Steady
Although the Chinese government is insisting that outside sources will not influence how they evaluate the worth of the yuan many signs point to a rise in the yuan, although a slow and controlled rise. Read more »
How China Could Use Currency As A Weapon
China’s currency policy is pretty far down the list of priorities for the U.S. Treasury staff. But it could be the turning point in this economic crisis — and for the worse. Read more »
Greece, The Currency Killer
This weekend the euro zone announced details of its plan to aid Greece to prevent Greece from defaulting on its debt. This bailout highlights both the positive and negative impacts of Greece's troubles on the world currency market. Read more »
Fools Gold
Economists are saying the recession is over. Job losses in the United States have stopped. The US has had the strongest GDP growth in six years. The major emerging markets: China, Brazil and India are posting strong growth. Read more »
