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Day: September 8, 2013
September 82013
AUD/JPY — Double Bottom with a Chance of Rectangle
If you look at the daily AUD/JPY Forex chart, you will easily notice a rather strong downtrend lasting since the peak of April 11, 2013. Although the drop has slowed down in June, the currency pair proceeded to make new lower lows in early August, hitting the same low at the end of the month. As a result, traders can now observe a nearly perfect double bottom formation that is yet to confirm itself […]
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September 82013
Long-Term Ascending Triangle on CHF/JPY
Being a huge fan of the long-EUR/CHF-thanks-to-SNB trading, I still recognize some technical trading opportunities presented by various Swiss franc currency pairs. The current long-term uptrend on CHF/JPY weekly chart is already lasting for more than a year and is based mostly on yen’s weakness rather than on Swissie’s strength. Stagnation and failure to post new higher highs since April is a classical case of an ascending triangle from the technical analysis […]
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September 82013
Daily Forex Volume Surpasses $5 Trillion in 2013
According to the latest Triennial Central Bank Survey released by the Bank for International Settlements on September 5, the daily Forex turnover averaged $5.3 trillion in April 2013. It is just a preliminary report (the final release will be out in December), but it can be treated as an accurate representation of the current state of FX trading industry. This preliminary version is a mere 24 pages and I definitely recommend reading it. The full […]
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