USD/CAD Holds Important 1.0400 Level (based on dailyfx.com article)
- USDCAD has pulled back from the line that crosses the July and August highs. A break above that line would warrant a bullish bias. - An early month low is in place at 1.0397. Weakness below there would shift focus to channel support closer to 1.0350. Trading Strategy: Flat LEVELS: 1.0397 1.0428 1.0448 | 1.0484 1.0525 1.0567
Good morning Van Gogh Teaches Us How To Keep Life Interesting
The two paintings are unmistakably by Vincent Van Gogh. Both show a street scene in the south of France, dominated by sturdy trees with limbs thrust upwards. Both show the same trees and the same houses and pedestrians — almost.
The Road Menders and The Large Plane Trees (Road Menders at Saint-Remy) were painted by Van Gogh in May 1889. They're so alike that they are sometimes called "copies." In fact, they're different: strikingly different in color, subtly different in detail.
EURUSD Technical Analysis (based on dailyfx.com article)
A Spinning Top candle at in the 1.3499-1.3529 area (38.2% Fib, channel bottom) hints at weakness Below support is at 1.3421 (23.6% Fib) eyes 1.3294 (Nov 7 low); we’ve holding short Breaking above resistance exposes 1.3563 (50% Fib retracement)
Silver Technical Analysis (based on thetechnicaltraders.com article)
Silver is under performing gold and trading below its support level currently. If silver does not recover by Friday’s closing bell then things could get ugly for a few weeks as investors start to exit their positions. That being said, I need to point out that silver is more of a wild card when using trend lines like this. Both gold and gold miners should be confirming this breakdown in silver if it is the real deal.
Based on How Fundamentals Move Prices in the FX Market article Why Currency Values Matter Currency prices matter because of cross-border trade. The concept of Fundamental Analysis in the Forex Market...
Gold Technical Analysis (based on thetechnicaltraders.com article)
The chart of gold shows price being wedge into the apex of the down sloping resistance trend line and the rising support trendline. Gold was trading below this level but has since bounced. But if gold closes the week below this line in the sand the price could start to fall quickly and test the $1200 per ounce within a week or tw
AUDCAD Technical Analysis (based on dailyfx.com article)
Developing Downtrend on AUD/CAD Daily Chart Short Set-up on 4-Hour Chart Long Scalp Trades for the Short Term
AUDCAD is offering two trade possibilities as it begins to display a potential downtrend on the daily chart. A rising support line has been broken, but it is only now being retested. A declining channel is also potentially forming.
Increasing Your Probabilities in Break-Out Trades (source - dailyforex.com)
If you are new to day trading or have been in these markets for a long period of time, one this is clear: You have been exposed to the term “break-out” as a major market occurrence and a potential opportunity to see significant market gains. Break-outs signify important changes in market sentiment, and this could happen for a variety of reasons. Perhaps an important news release of piece of economic data has changed the market’s perceived value of an asset. This can be represented visually on a price chart, as the underlying activity literally “breaks through” important levels of support or resistance. A break of support would be a bearish break-out. A break of resistance would signify a bullish break-out is in place.
Watching Market Volumes
“Once we have an understanding of the mechanics of a forex trading breakout,” said Haris Constantinou, currency analyst at TeleTrade, “we next need to learn how to increase the probabilities in these trades so that we can maximize gains relative to the market majority.” One way of doing this is to look at market volumes as these support or resistance breaks occur. If trading volumes are low, it is a signal that a majority of the market is not behind the breakout move and that there is a possibility of a false break. Because of this, it is generally prudent to wait for breakouts that are accompanied by higher trading volumes. Higher trading volumes will show you that a majority of the investment community is in favor of the direction in which prices are moving. This is a better indication that prices will continue in this direction in the future. Without this confirmation, the probabilities for a successful trade are lower.
Watching for Follow-through
In addition to this, forex breakout traders that tend to be successful will also be looking increased volatility (follow-through) after the breakout occurs. After a significant break of support or resistance, follow through will depend on increases in volatility which are usually generated by stop losses that were put in place by traders on the wrong side of the break. So, for example, traders that were bearish when an upside break-out occurs will ultimately be forced to exit those positions. These bearish trades then, in effect, become new buy order that propel prices even higher. The reverse scenario would be true for a bearish break-out. Always remember, without these price extensions and increases in volatility, break-out traders will be vulnerable to a “false break-out” scenario that can quickly result in losses if not managed properly. So, when we are looking to employ a well-structured break-out trading strategy, all of these factors need to be taken into consideration. It is not enough to simply look at breaks of support or resistance by themselves. Watching volume and follow-through can help to greatly improve trading probabilities.
Forum Press review newdigital, 2013.11.18 10:26 2013-11-18 09:00 GMT (or 10:00 MQ MT5 time) | [EUR - Current Account] past data is 17.9B, forecast data is 18.3B, actual data is 13.7B according to the...
Duffy Sheridan has been painting since he was a child. His father, also an artist, encouraged him to learn to paint anything and everything. He has traveled the world and dedicated his artistic life to the discovery and expression of beauty as he sees it.
Although he and his family spent many years in relative seclusion in the far corners of the world, Sheridan’s work has attracted the attention of collectors on five continents.
Since returning to the United States in 1991, his work has received international acclaim and he has been designated a Living Master™ by the Art Renewal Center.
His paintings can be found in prestigious institutions from a Cathedral in the South Pacific to the US Air Force Academy to corporate headquarters in Manhattan, as well as in the private residences of kings, judges, bishops, doctors and collectors all over the world.
For over 35 years the teachings of the Baha’i Faith have been the primary influence of Sheridan’s life and work and have dominated his continual search for that balance of craftsmanship and artistic expression which has the ability to elevate, in some small way, the human condition.
Sheridan feels that he is in the process of learning to appreciate the richness of humankind and has come to believe that the purpose of his work should be “to magnify the dignity and nobility of the human spirit and the singular beauty of all things. When people look at one of my paintings, I’d like them to see that humans, indeed, are noble beings.”
Each exchange is normally regulated by a national governmental (or semi-governmental) regulatory agency:
In Australia, this role is performed by the Australian Securities and Investments Commission. In the Chinese mainland, by the China Securities Regulatory Commission. In Hong Kong, by the Securities and Futures Commission. In India, by the Securities and Exchange Board of India and Forward Markets Commission (FMC) In Japan, by the Financial Services Agency. In Pakistan, by the Securities and Exchange Commission of Pakistan. In Singapore by the Monetary Authority of Singapore. In the UK, futures exchanges are regulated by the Financial Services Authority. In the USA, by the Commodity Futures Trading Commission. In Malaysia, by the Securities Commission Malaysia. In Spain, by the Comisión Nacional del Mercado de Valores (CNMV). In Brazil, by the Comissão de Valores Mobiliários (CVM). In South Africa, by the Financial Services Board (South Africa). In Mauritius, by the Financial Services Commission (FSC)
10 Mistakes Even Savvy Stock Investors Make (source - Forbes)
Most savvy investors wouldn't confuse Tweeter with Twitter, but the experienced aren't infallible.
1. Forgetting value 2. Getting too big for your britches 3. Putting too many eggs in one basket 4. Thinking you’re special 5. Chasing yield 6. Letting the tax tail wag the dog 7. Changing horses in midstream 8. Rushing in 9. Not minding the market 10. Trading the news instead of the stock
EURAUD Technical Analysis (based on dailyfx.com article)
-EURAUD has followed through on last week’s reversal and is approaching the 9/27 high of 1.4559. Of interest in the future is the 8/30 uncovered close at 1.4841 and 8/28 close at 1.4918. -Price has traded through the line that extends off of the Aug and Oct highs. The top side of the line is serving as support. Trading Strategy: I am long. Stop is 1.4360. Target is 1.4550