This night EUR/USD has broken the november high and seems to finally battle the range it has been trading in for so long. The ‘perfect channel’ I described yesterday was only perfect at the moment of writing, and immediately fought its way out. This emphasizes the fact that there are no such things as easy [...] [...more]
Every trader is looking for so-called ‘easy trades’. These trades, as their name suggests, are easy to spot and can be traded with 100% certainty. Unfortunately, there is no such thing as an easy trade. If there would, we probably were all making money by now. Nevertheless, there are moments that a trade makes more [...] [...more]
Ouch, that was painful yesterday. My stop loss at 1.2970 was triggered and the market immediately turned around, touching as low as 2826 this morning. My SL couldn’t have been set at a worse place as it exactly touched yesterdays high. Although this might be painful to realize afterwards, the important thing to me is [...] [...more]
Since I live in Amsterdam (Netherlands) the forex market opens for me Sunday at 23.00 local time. I always watch the opening as this is sometimes full of surprises and then go to bed, only to find out the next morning what has happend during the first hours of the week. This morning I woke [...] [...more]
What an interest year 2008 has been so far. The first half of they year we have seen a rapidly dropping Dollar and the market was wondering how low the USD could possibly go, after breaking the 1.60 level in July. The credit crisis was limited to the American and British economy and for the [...] [...more]
The markets are waiting for a very important macro economic number from the US. The non-farm employment change represents the change in the number of employed people, excluding the farming industry. If the forecast of -320K represents the real number, we could see the Dollar dropping as this is more negative news about the US [...] [...more]
The European Central Bank has lowered interest rates with 75 basis points to 2.50%. This is the largest rate cut in its history, though it must be noted that the bank is only 10 years old. The primarly objective of the ECB is to maintain price stability. Because of the fast dropping oil prices, inflation [...] [...more]
The Bank of England cut it’s rates today with 100 basis points, lowering from 3.00% to 2.00%. The rate cut is as expected by analysts, but can still be called remarkable. Since the foundation of the central bank in 1694, the interest rate has never reached a level below 2%. Analysts expect the Bank to [...] [...more]
