NZD/JPY has maintained a bullish pattern of higher highs and higher lows, this morning hitting new highs. Stochastics are poised to cross higher, which would be confirmed tonight by a close above 88.000. With daily and weekly MACDs above their zero lines, we expect extension of the uptrend to next major resistance at 97.793, the July 2007 high. Any setbacks will be limited in time and extent, with first strong support at 86.331, the March 17 low, which is also the 'last significant corrective low'. We will recommend a new long tonight on a close above 88.00, targeting 97.00, with the stop initially at 86.00.
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
Thursday, March 27, 2014
success in the stock markets
To have success in the stock markets you need a trading plan that will detail your risk management and trade management to make money. Traders need to have a plan and should constantly upgrade your trading plan for market success. You should have written rules for managing trades can help remove the effect of emotions on your trading since you will be following a good winning strategy, rather than trying to make decisions on the spot. Traders need to write the plan down it allows you to review them on a regular basis and see if you are consistently following them. Thus you are holding yourself accountable for your trades and are more likely to follow them. In your trading plan, you should have some sort of rule as to when you will move your initial stop to breakeven this will save your trading account.
Stock Market Success
lower jobless claims
A lower jobless claims number failed to produce more than a temporary bump in the dollar's value against the euro and yen as investors show they want more substantial proof that the employment picture in the US has improved. The dollar pushed higher against the yen to Y102.44, but quickly wound back down to Y102.28. The euro slipped against the buck briefly to $1.3750, before scrabbling back to its pre-report level, last at $1.3760. "Markets really want to see confirmation in the nonfarm payroll report for the strength of the job market
Wednesday, March 26, 2014
The euro zone
The euro zone faces a low but real risk of deflation that may force the European Central Bank to act, ECB board member Luis Maria Linde said Wednesday.
"If you ask me, the risk of inflation is low, but it isn't zero," Mr. Linde said at a business event. "There certainly is a chance that we see deflation."
Mr. Linde, who heads Spain's central bank, said the ECB stands ready and must be able to take measures to avoid a deflationary trend. His comments come after other ECB officials Tuesday sent strong signals that they are willing to consider dramatic steps to guard against dangerously low inflation. Earlier Wednesday, Slovakia's central bank Governor Josef Makuch said the ECB was ready to combat the specter of declining prices which, he said, threatens to undermine the euro zone's recovery.
"If you ask me, the risk of inflation is low, but it isn't zero," Mr. Linde said at a business event. "There certainly is a chance that we see deflation."
Mr. Linde, who heads Spain's central bank, said the ECB stands ready and must be able to take measures to avoid a deflationary trend. His comments come after other ECB officials Tuesday sent strong signals that they are willing to consider dramatic steps to guard against dangerously low inflation. Earlier Wednesday, Slovakia's central bank Governor Josef Makuch said the ECB was ready to combat the specter of declining prices which, he said, threatens to undermine the euro zone's recovery.
Canada's two-year bond yield
Canada's two-year bond yield is at 1.065% Wednesday, from 1.070% Tuesday, according to electronic trading platform CanDeal. The 10-year bond yielded 2.459%, from 2.478%. Bond yields move inversely to bond prices.
There are no Canadian data releases this week, leaving the market particularly susceptible to influences from the U.S.
Orders in the U.S. for durable goods--products such as refrigerators and cars meant to last more than three years--rose 2.2% in February. That marked the strongest reading since November.
But the gain was driven by aircraft demand. Stripping the volatile transportation segment, durable goods posted only a 0.2% gain.
There are no Canadian data releases this week, leaving the market particularly susceptible to influences from the U.S.
Orders in the U.S. for durable goods--products such as refrigerators and cars meant to last more than three years--rose 2.2% in February. That marked the strongest reading since November.
But the gain was driven by aircraft demand. Stripping the volatile transportation segment, durable goods posted only a 0.2% gain.
Tuesday, March 25, 2014
Canadian dollar
The Canadian dollar has been confined to a narrow range so far this week, but lost considerable ground last week after remarks from Bank of Canada Governor Stephen Poloz that suggested a dovish coloring to the Bank's neutral policy stance.
Indications from the U.S. Federal Reserve's policy statement last Wednesday that it could reduce monetary stimulus more rapidly than previously expected also rattled the Canadian currency.
Scotia said it expects Canadian-dollar weakness will continue in the near term as bearish sentiment, driven by relative central-bank outlooks, puts downside pressure on the currency.
It puts resistance for the U.S. dollar at C$1.1175 and resistance at C$1.1237.
Indications from the U.S. Federal Reserve's policy statement last Wednesday that it could reduce monetary stimulus more rapidly than previously expected also rattled the Canadian currency.
Scotia said it expects Canadian-dollar weakness will continue in the near term as bearish sentiment, driven by relative central-bank outlooks, puts downside pressure on the currency.
It puts resistance for the U.S. dollar at C$1.1175 and resistance at C$1.1237.
EU commissioner Tajani
First it was EU commissioner Tajani saying EUR/USD is too strong at 1.40. Then ECB's Weidmann said negative interest rates would be an appropriate measure, and now ECB's Makuch is on the wires saying he sees room for weaker euro by year-end, and a need for measures to limit deflation risks. Keep an ear out for ECB President Draghi who speaks at 1600 GMT. EUR/USD just sank to a fresh day low of 1.3785, 0.5% off the session and day's 1.3848 high.
Subscribe to:
Posts (Atom)