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Range Bound | Daily Forex Trading Edge

Range Bound

USD/CAD Perched on Uptrend Line Support

Monday, Jul 29, 2013

The USD/CAD continues to trade heavy as th mid-May uptrend is tested for yet a third session. While the trendline has been broken today’s session may ultimately be the one that is able to close below and create the downward acceleration to tackle yet another significant support level: 1.0250.

In fact it’s the 1.0250 level that is most likely to usher in a test of the 200DMA, putting parity within reach. But that’s jumping ahead a little too much on a week that the market is readying for a Chinese PMI, FOMC, and ECB all before Friday’s NFP.

Posted By: 

Raghee Horner

Raghee Horner, chief currency analyst for IBFX, provides her personal daily trading tips and insights through Dailyforextradingedge.com. An experienced trader with over fifteen years in the markets, Raghee is the co-founder of EZ2Trade Software and has taught her brand of technical analysis and charting strategies to students all over the world. She is an international author and has taught currencies, futures, and equities trading for over a decade.
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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.

Inter-Market Relationships Help To Create Trading Edges

Thursday, Jul 25, 2013

Good Morning,

Durable goods - spending on big ticket items were up more than expected. Weekly claims are still showing a below 350k average - whic is indicative of a headline payrolls number closer to +200k when released next Friday. Overall, the economic data continues to be positive and supportive for equities at these levels. The bigger story is earnings. Are Q2 earnings and Q3 guidance starting to play an unsupportive role for equities at these levels.

The technical question becomes:

**SPX at 1700

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.

Q2 Earnings and The USD

Monday, Jul 22, 2013

Good Afternoon,

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.

Trading Psychology 102

Friday, Jul 19, 2013

Good Afternoon,

A quiet week technically in forex. The biggest thing we saw was the USD hit resistance and the cross pairs gain some strength. Hard to say what that means for the near-term though as sideways markets could just be the ticket until we get a new geo-political event or new interest rate news, which seems to be further and further down the road as all central banks are all in.

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.

Bernanke's Comments Add To Soft Tone of USD

Wednesday, Jul 17, 2013


Good Afternoon,

Three days down this week and relatively quiet. Bernanke spoke and as I expected (and wrote about on Monday), his comments were dovish.  Also as mentioned, as long as that is the case, economic (micro) data seems to have taken a back seat. It is a good idea to watch it, but with summer markets in full swing, can you trade off of it?

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.

Weekly Fundamental Preview 07/15-07/19

Monday, Jul 15, 2013

Good Afternoon,

A rangebound start to the week in both equities and forex. We do have a very, very heavy data week, so that will be the focus of this post and more on that in a minute.

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 Weakness Post-Bernanke, Or Was It Pre-Bernanke?

Thursday, Jul 11, 2013

Good Afternoon,

Given recent Bernanke comments on the unemployment rate and tapering easy money, we may be here for a while. Volatility may hit new lows as we seem to possibly be starting a new bull run in US equities. What's next short-term for equities? Will they take a breather after one of the strongest, quickest and largest updrafts occurred due to macro news? How long can the macro news keep the rally going. Right now we are around 8% from bottom to top. Very impressive!

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 Rebounds

Tuesday, Jul 9, 2013

Good Afternoon,

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.

Trending Markets

Monday, Jul 8, 2013


Good Afternoon,

The fundamentals start in earnest tomorrow, so today was mostly a technical trade. Equities continued their run - now  almost 100 points in the SPX from the low a few weeks ago to today's high. I hope your not stuck short as the buyers are relentless. But the question now is, can the move extend another 35 points or so and make a new high without backing off a bit - I am doubtful. Not bearish, just doubtful. 

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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