It’s not often that a trade comes along with so much upside and so little risk. Buying EUR/CHF at 1.2050 is one of those trades.
I didn’t think we would see 1.2050 in EUR/CHF this year and I’m sure it won’t last. My money says 1.25 is coming with 1.30 not far behind.
The SNB [...]
I’m torn about USD/CAD.
For months, I’ve been looking to buy any weakness in the pair but the daily chart has broken a ‘wedge’ pattern to the downside.
My base case if for a rally to 1.12 around mid-year but I won’t fight the technicals.
It’s time to take a step back [...]
This is a bit outside of what I normally do but I read today that the Tokyo Stock Exchange is near a deal to set up a stock market in Myanmar.
It reminded me of this quote from Jim Rogers:
“If you can find ways to invest in Myanmar you will be very, very [...]
I was out of the country and out of touch with markets last week and it has been hard to catch up with the European soap opera after missing a few episodes.
First here’s a quick guide to what happened in the EU.
The UK press has been helpful. Here’s a good article in [...]
Someone out there sure likes these things.
The bad news has been almost relentless since August but the euro continues to hang in there. At 1.33, EUR/USD iss down almost 10 cents in that time but that’s not bad considering the existential crisis pounding away at the bulls. Moreover, EUR/USD is holding above the 2010 [...]
Every day we spin the wheel. Pick one of the PIIGS and pick one of the four following problems: banks, bonds, politics, ratings.
One day it’s Greece and politics, the next it’s Italy and bonds. The news is never positive; just bad or good enough to spark a short squeeze.
I’m generally a trend-following trader [...]
The news out of Greece is good. A coalition has been struck that will pass the EU-mandated reforms in order to receive the upcoming aid tranche. Papandreou will step down, a new PM will be named Monday and an election will be held after the aid is dispersed.
Barring any surprises (and they can’t be [...]
Greek Prime Minister Papandreou had a Halloween surprise for markets on Monday as he announced a referendum on the EU bailout deal. The move was completely unexpected and could throw Greece (and Europe) into chaos. The euro dropped almost 100 pips as the news hit.
The Greek public will decide whether or not to accept the [...]
So far USD/JPY has shot to 79.48 from a low of 75.57 and the pair looks like it will push higher after the Ministry of Finance chomps through another set of sell orders around 79.20. Officials may take aim at 80.00 but based on the comments out of Japan, a Swiss-like peg doesn’t sound likely.
What also [...]
I have to score the ho-hum day in markets on Friday as a win for the bulls. I expected a further pullback in risk sentiment, especially with the soft Italian bond auction. My feeling is that this means EUR/USD is on its way to 1.44 and USD/CAD down to 0.9800.
I live blogged all day [...]
Live EUR/USD Chart
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