The Wild Card
The Wild Card Gold 27 Aug 2009
The Wild Card Gold 27 Aug 2009
Thursday, 27 Aug 2009
Dollar Benefits on U.S. Economic Data; Today Traders Focus on the U.S Unemployment Claims
The U.S dollar gained ground Wednesday against the EUR and the British pound, after strong data on orders for new U.S.-made durable goods and new home sales comforted expectations of an improvement in the economy. The greenback traded higher after the durable-goods orders report said orders for July rose by 4.9%, the largest increase in 2 years. Investors will be watching for the new U.S. jobs report today before making significant moves
The Wild Card
Gold
There is still a bearish configuration on the daily chart, indicating that the momentum is still down. However, hourly chart's Slow Stochastic is about to enter an oversold territory, indicating that there might be a minor bullish correction before a broader bearish move resumes. Forex traders can maximize profits by selling on highs and taking advantage of a general bearish trend
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The Wild Card Crude Oil 28 Aug 2009
The Wild Card Crude Oil 28 Aug 2009
U.S. Consumer Spending Report at Forefront of Forex Trading Today
The Wild Card
Crude Oil
Crude Oil has resurrected yet again as the top bullish commodity in Thursday's trading. The black gold currently stands at the $72.60 level. Today's technical data supports another possible upward move for Crude. This is mainly supported by the hourly chart's Stochastic Slow and 4-hour chart's MACD. So if you forex traders want to take advantage of this popular commodity now, then enter Crude as soon as possible as end-of-week trading kicks in
The Wild Card Gold 31 Aug 2009
The Wild Card Gold 31 Aug 2009
Monday, 31 Aug 2009
Forex Traders Anticipate Heavy News Week
The dollar was slightly more volatile over the past week than usual, and the explanations for this have been getting trickier by the day. As for this week, forex traders are advised to take positions on trades, as a string of data releases coming out of U.S., Europe and Japan are likely to affect the greenback's main currency crosses.
The Wild Card
Gold
Gold prices rose significantly in the last week and peaked at $955.45 an ounce. However, the 4-hour chart's RSI is floating in the overbought territory suggesting that the recent upwards trend is losing steam and a bearish correction is impending. This might be a good opportunity for forex traders to enter the trend at a very early stage.
The Wild Card AUD/USD 1 Sep 2009
The Wild Card Oil 2 Sep 2009
Wednesday, 2 Sep 2009
The USD Benefits as Wall Street Slides
The greenback firmed on Tuesday as share prices fell, prompting investors to shed perceived riskier currencies. Despite better than expected numbers from the Institute for Supply Management, shares on Wall Street showed only muted enthusiasm to the data and quickly lost ground, lifting the U.S dollar, which has tended to be used as a safe haven against losses in equities. Ahead of the U.S. jobs data later today, traders said players were anxious about any negative surprises. As the market has become less sensitive to positive surprises from the U.S economic data, the effect of any weak figures would be bigger than the effect of any positive numbers.
The Wild Card
Oil
Crude Oil prices are once again dropping, and it is currently traded around $68.60 a barrel. And now, the 4 hour chart's Slow Stochastic is giving bullish signals, indicating that Oil prices might go up. This might give forex traders a great opportunity to enter a very popular trend.
The Wild Card Crude Oil 3 Sep 2009
The Wild Card Crude Oil 3 Sep 2009
Thursday, 3 Sep 2009
U.S. Unemployment Claims to Set the Level for the USD Today
The U.S. Unemployment Claims is the primary publication today that is set to determine the level of the USD when it is released at 12:30 GMT. The other main releases that are set to dominate forex trading, especially for currencies such as the Dollar and EUR is the publication of the Services PMI for Britain at 08:30 GMT, the EUR Minimum Bid Rate at 11:45 from the Euro-Zone, and the ISM Non-Manufacturing PMI from the U.S. at 14:00 GMT. What are you waiting for traders! Open your positions in the USD, EUR, GBP, and AUD now.
Crude Oil
Despite much bearishness for the black gold this week, the popular commodity went through some flat trading yesterday. Crude currently stands at the $68.10 level. Both the RSI and the Stochastic Slow of the daily chart indicates that there will be much bullish behavior for Crude today. Going long with tight stops may bring big profits for forex traders today.The Wild Card Crude Oil 3 Sep 2009
The Wild Card Crude Oil 3 Sep 2009
Thursday, 3 Sep 2009
U.S. Unemployment Claims to Set the Level for the USD Today
The U.S. Unemployment Claims is the primary publication today that is set to determine the level of the USD when it is released at 12:30 GMT. The other main releases that are set to dominate forex trading, especially for currencies such as the Dollar and EUR is the publication of the Services PMI for Britain at 08:30 GMT, the EUR Minimum Bid Rate at 11:45 from the Euro-Zone, and the ISM Non-Manufacturing PMI from the U.S. at 14:00 GMT. What are you waiting for traders! Open your positions in the USD, EUR, GBP, and AUD now.
Crude Oil
Despite much bearishness for the black gold this week, the popular commodity went through some flat trading yesterday. Crude currently stands at the $68.10 level. Both the RSI and the Stochastic Slow of the daily chart indicates that there will be much bullish behavior for Crude today. Going long with tight stops may bring big profits for forex traders today.Wild Card Gold 4 Sep 2009
U.S. Non-Farm Employment Change to Determine Today's Trends
The U.S. Non-Farm Employment Change Data is set to be published at 12:30 GMT, and is expected to be the most important news event when it comes to market volatility. Traders are also advised to follow the G20 Meeting that will commence today, and the U.S. Unemployment Claims data at 12.30 GMT. In the meantime, open your positions in the majors now, as today's trading gets under way.
The Wild Card
Gold
This popular commodity has recorded a 3 day winning streak, as it stands at the $990 level. Analysts expect Gold to go higher for yet another day. They may be right, as gold approaches a $1000. The Stochastic Slow of the hourly charts supports the upward trend for today. Going long with tight stops may bring high returns for forex traders today.Wild Card Gold 7 Sep 2009
Monday, 7 Sep 2009
Dollar Expects Low Volatility Today
Today is a quiet news day for the U.S. and Canada, as there are no economic data releases on the calendar today. However, Britain and Euro-zone appear to be releasing the bulk of today's news, which means we may see a day of trading with low liquidity and therefore increased volatility. Day-traders can take advantage of these intense trading days by swinging within the larger-than-normal price fluctuations
The Wild Card
Gold
Gold
prices rose significantly in the last week and peaked at $992.65 for an ounce. However, the daily chart's RSI is floating in an overbought territory suggesting that a recent upwards trend is loosing steam and a bearish correction is impending. This might be a good opportunity for forex traders to enter the trend at a very early stage
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The Wild Card NZD/USD 26 Aug 2009
Wednesday, 26 Aug 2009
Crude Oil Plummets on Profit Taking
Later afternoon trading saw the price of Crude Oil take a nose dive as traders took profit. The price of Oil stalled at the $75 resistance level and fell significantly following the failed breach. Today traders will be tracking the release of the U.S. Crude Oil Inventories data along with the New Home Sales numbers for today's market direction
The Wild Card
NZD/USD
A fresh bearish cross has recently formed on the hourly, daily and weekly charts' Slow Stochastic, indicating strong downward pressure on this pair. The price also floats in the over-bought territory on the daily and weekly charts' RSI, strengthening this notion. Forex traders may not want to miss out on this opportunity by entering the downward movement at a great entry price
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