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Day: April 13, 2015
April 132015
Euro Continues Depreciation
The euro extended its decline during the Monday’s trading session after Italian industrial production demonstrated mixed performance in February. The euro touched the lowest level since June 2013 against the Japanese yen. Italy’s industrial production grew 0.6 percent in February from the previous month. Yet on the annual basis, the index dropped 0.2 percent. As a result, the report did not help the shared 19-nation currency in determining its direction. What […]
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April 132015
Yen Rallies After Positive Data & Comments from BoJ Chief
The Japanese yen rallied against its other major peers today, including the US dollar and the euro, after the positive economic data from Japan and optimistic remarks from the central bank’s head. Haruhiko Kuroda, Bank of Japan Governor, voiced confidence in Japan’s economic recovery today, saying that “Japan’s economy is expected to continue recovering moderately as a trend.” Meanwhile, the Producer Price Index rose 0.7 percent in March from […]
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April 132015
Yuan Drops as Trade Surplus Shrinks
The Chinese yuan fell against the US dollar today as the drop of the nation’s trade balance surplus was far bigger than market participants have anticipated, fueling concerns about slowing growth of the world’s second biggest economy. The trade excess shrank from $60.0 billion to just $3.1 billion in March versus the expected figure of $43.4 billion. The main contributor to the decline was export that fell unexpectedly instead of rising as analysts […]
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April 132015
Aussie Pulls Back After Chinese Data
Australian dollar is heading lower today, thanks mainly to disappointing Chinese data. With Chinese data down, and concerns about the Australian economy, there is speculation that the RBA will have to consider cutting rates again. Aussie is down across the board today, following the latest economic data out of China. The world’s second-largest economy is one of Australia’s major trading partners, and the data indicates that China […]
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April 132015
Euro Loses Ground After Greece Fails to Offer Reforms
Euro is lower against its major counterparts today, thanks to a report that indicates that Greece has, once again, failed to offer sufficient structural reforms. Euro is lower across the board today as Greece becomes the focus for Forex traders and others around the world. There is a report that Greece failed to provide an outline of structural reforms to eurozone officials over the weekend, and that is increasing tensions between […]
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April 132015
EUR/USD Trades Near Opening During Monday’s Session
EUR/USD bounced a little after touching the session low but remained below (but close to) the opening level during Monday’s trading. The dollar remained firm even though today’s US economic data was not supportive for the currency. Treasury budget deficit shrank to $52.9 billion in March from $192.3 billion in February. Still, the actual budget shortage was bigger than the predicted $43.1 billion. (Event A on the chart.) On Friday […]
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April 132015
Trend vs. Counter-Trend Trading
I have recently noticed that many of my trades turn out to be against the direction of the current trend. Indeed, it seems that several of the popular chart patterns (channels, double/triple tops and bottoms, and even flag patterns) are based on a trend reversal, which is counter-trend by definition. Of course, not all chart patterns are counter-trend — triangles, head-and-shoulders, and pennants provide confirmations to the current trend rather than seeking its reversal. […]
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