The US Dollar has always been a very interesting and influential currency. After all, it’s the world’s reserve currency and the majority of all transactions on the planet are made using dollars. The dollar tends to run in long-term trends and the past 12-18 months of broadly sideways action suggest that it’s consolidating before the […]
In recent weeks, we have been looking for a breakdown in the JPY. If you read this post from two weeks ago, we outlined equities and bonds which may be the catalyst. Today, we have seen gold break a major support of $1300, which technically is a “bearish wedge” pattern. The first target from the […]
Anyone who is trading crude oil or USD/CAD should be aware of the important correlation between them. We know that if oil price rises then the Canadian economy benefits as they own considerable oil reserves (third only to Venezuela and Saudi Arabia). Furthermore, let’s not forget that the USD will likely drop in value if oil prices rise, and […]
I love chart patterns. I know that sounds a little cliché, or funny, but I love chart patterns since they help us forge a trading plan in the markets. Knowing what different patterns are in the market not only help us with a plan for when to enter the market, but also assist us in […]
(AUD/NZD= Aussie/Kiwi = Australian bird = Kylie) The AUD has been on a bit of a roller coaster lately and this is one of the AUD crosses I get asked about more than any other. Traders have been watching for a bottom in this pair for at least the last 18 months.
Good day traders! This is the first of a series of educational posts we will be releasing here on ForexAnalytix.com .