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Day: July 21, 2014
July 212014
Rally of NZ Dollar Fails due to Risk Aversion
The New Zealand dollar attempted to rally today with the help of the positive interest rate outlook but failed. The general market sentiment was not supportive for currencies that perceived to be relatively risky. The Reserve Bank of New Zealand conducts its policy meeting on July 24, and most market participants expect the central bank to raise the main interest rate by at least 25 basis points. Such outlook is positive for the New […]
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July 212014
Risk-Negative Sentiment Results in Softness of Aussie
The Australian dollar started the week falling due to concerns about economic slowdown in China as well as because of the general risk-aversion sentiment on the Forex market, which persisted since the last week. Analysts argue that slower economic growth in China, the biggest trading partner of Australia, means falling demand for Australian exports, and this in turn means slower recovery of the Australian economy. Geopolitical risks, which were driving the FX market in the second half […]
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July 212014
Attempted Euro Rally Fizzles
Euro attempted a rally against the US dollar earlier, taking advantage of the frustration many Forex traders have with US yields right now. However, that rally has fizzled out as the focus shifts to safe haven flows. Euro is lower against its low-beta counterparts, even as it gains against currencies like the pound and the loonie. Earlier in the session, the euro looked ready to rally against the US dollar. At one […]
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July 212014
Would You Use Automatic Channel Detecting Indicator?
Chart pattern trading is often considered to be a purely subjective field of currency trading because there are no standards to the chart pattern definitions. A trader has to use his own discretion when deciding to mark the patterns on a chart and also to do so manually. Both elements bring a lot of subjectivity and potential for errors. On the other hand, chart patterns are considered a powerful albeit poorly backtested tool for trading signal […]
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