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Chart Patterns | Daily Forex Trading Edge

Chart Patterns

Chf/Jpy rally could lose its steam

Thursday, Dec 12, 2013
The recent rally in the Swiss Franc has sent the Chf/Jpy currency pair seemingly thru the roof. The pair has seemed to stall around the 116.00 psychological level signaling that the bears are trying to defend this level. If the bears get their way it could be temporary as the bulls will recalibrate at a better price to buy this pair back up. If the bears fail to defend this level then the sky is the limit in the interim.
Posted By: 

Skii Lodge

Skii Lodge is an experienced currency trader who provides unique insight into the currency market using a combination of technical and fundamental analysis, as well as harmonic moves. He uses equities and commodities (Dow, US Dollar, Gold and Crude Oil) for cross market analysis to come up with trading strategies on a daily basis. Skii Lodge uses this information along with market structure, major support and resistance levels to formulate trades during swings in the markets. Follow him at IBFXConnect: https://www.ibfxconnect.com/profile/skiilodge

GBP/USD: First Major Support, Then Local Resistance

Tuesday, Aug 27, 2013

Good Evening,

Geopolitical events are taking center stage. That, and an overbought stock market. First up the SPX:

Past performance is not indicative of future results

Next, the financial ETF (XLF). Notice how this index is a bit weaker than the SPX. If Financials violate the next level of support...

Posted By: 

Brian Kahn

Brian provides regular commentary focusing on the relationships between various financial markets. An experienced trader and portfolio manager with over 15 years in the markets, Brian relies on fundamental and technical analysis to create trading plans for each and every market entry.

Fundamental Preview: Aug 26-Aug 30

Sunday, Aug 25, 2013

Good Evening,

The fundamental calendar picks up over the next few weeks. This data could be important as the Fed says it is basing upcoming decisoins on data. So far Jackson Hole has been a dud as far as US speakers go, so let's focus on the data. For Bloomberg's take, click here.

Durable Goods - will they continue to show strength?

Claims - shockingly better and better

CHPM - look at new orders and employment sub-components

Posted By: 

Brian Kahn

Brian provides regular commentary focusing on the relationships between various financial markets. An experienced trader and portfolio manager with over 15 years in the markets, Brian relies on fundamental and technical analysis to create trading plans for each and every market entry.

GBP/USD: Resistance Holds

Thursday, Aug 22, 2013

Good Evening,

How is this for horizontal trendlines!

 

The GBP/USD backed off at previous resistance. Now you can look at the trendline that connects the lows and longer term moving averages/fibonacci's to look for possible support areas on the way down that are attractive for a long play.

Posted By: 

Brian Kahn

Brian provides regular commentary focusing on the relationships between various financial markets. An experienced trader and portfolio manager with over 15 years in the markets, Brian relies on fundamental and technical analysis to create trading plans for each and every market entry.

EUR/USD: Trend Up Continues

Tuesday, Aug 20, 2013

Good Evening,

Another day that has the USD all over the place against its cross pairs. The USD is strong against the AUD, NZD, and CAD. Weak against the GBP, EUR and CHF. So weak against the EUR, that we saw a BUFFALO BOUNCE:

Past performance is not indicative of future results

Posted By: 

Brian Kahn

Brian provides regular commentary focusing on the relationships between various financial markets. An experienced trader and portfolio manager with over 15 years in the markets, Brian relies on fundamental and technical analysis to create trading plans for each and every market entry.

USD Near Support Against GBP/USD?

Sunday, Aug 18, 2013

 

Good Morning,

Fundamentals are pretty light this week. It also, seems to be the last “full week of summer” as schools get back in session next week. For a preview of the light fundamentals, follow this link to Bloomberg.

Technically, the SPX broke support and that support line now may act as resisitance:

Posted By: 

Brian Kahn

Brian provides regular commentary focusing on the relationships between various financial markets. An experienced trader and portfolio manager with over 15 years in the markets, Brian relies on fundamental and technical analysis to create trading plans for each and every market entry.

Huge Range in GBP/USD

Wednesday, Aug 7, 2013

 


Good Afternoon,

Technically, we know we are in overbought territory, but technicals are not a leading indicator. But could they be soon? We have now backed off in the SPX from 1710 to 1685. The first chart shows a Fibonacci. I am not saying you can (or want to) sell rallies, but if you actually choose to do so, you can use Fibonacci's to line up pre-determined risk and reward parameters (knowing that with gaps, fast markets, etc...) no parameters are fully guaranteed.

Posted By: 

Brian Kahn

Brian provides regular commentary focusing on the relationships between various financial markets. An experienced trader and portfolio manager with over 15 years in the markets, Brian relies on fundamental and technical analysis to create trading plans for each and every market entry.

Fundamental Preview

Monday, Aug 5, 2013

 

A quick fundamental update. We could potentially have a quiet week as it is big vacation time across the trading landscape. I am sure the beaches are packed. We started off strong in the USD with ISM services. Not much else on the landscape except for weekly claims. Remember though, that we just had a very telling week of fundamentals. Strong data supported by an open door policy by the Fed, the ECB and the BOE. 

Posted By: 

Brian Kahn

Brian provides regular commentary focusing on the relationships between various financial markets. An experienced trader and portfolio manager with over 15 years in the markets, Brian relies on fundamental and technical analysis to create trading plans for each and every market entry.

USD Strengthens After Central Bank Statements

Thursday, Aug 1, 2013

Good Afternoon,

Technically, when you have an open, high, low, close bar and the closes can very rarely close on the low of the bar, you have buyers lurking. This reminds me of the trading pits, when buyers would put their hands up stopping and reversing any of the selling pressure. You can see it and you can feel it! The bars give you the same clues as the pits - you can see it and feel it! That is "feeling the trade". I have said that the risk is to the upside and Fed and fundamentals aside, the technicals told us that. Quite simply, there are more buyers than sellers!

Posted By: 

Brian Kahn

Brian provides regular commentary focusing on the relationships between various financial markets. An experienced trader and portfolio manager with over 15 years in the markets, Brian relies on fundamental and technical analysis to create trading plans for each and every market entry.

July 29 – Aug 2 Fundamental Preview

Friday, Jul 26, 2013

Good Evening,

We ended up flat in the SPX - both today and this week. The range is 1675 to 1700 and with the intensity of the buyers, it seems the upside BIG pop is just days away. This is a technical analysts dream. Buyers step in and support prices next to their highs and usually there is only one way to go! Lots of economic data to contend with though next week. Will it matter is the question. Meaning, even if it comes in better or worse than expected, what are the chances that it deters the equity markets from moving higher?

Highlights:

Posted By: 

Brian Kahn

Brian provides regular commentary focusing on the relationships between various financial markets. An experienced trader and portfolio manager with over 15 years in the markets, Brian relies on fundamental and technical analysis to create trading plans for each and every market entry.
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