The Wild Card

 

The Wild Card NZD/USD 26 Aug 2009

Wednesday, 26 Aug 2009

Crude Oil Plummets on Profit Taking

Later afternoon trading saw the price of Crude Oil take a nose dive as traders took profit. The price of Oil stalled at the $75 resistance level and fell significantly following the failed breach. Today traders will be tracking the release of the U.S. Crude Oil Inventories data along with the New Home Sales numbers for today's market direction

The Wild Card

NZD/USD

A fresh bearish cross has recently formed on the hourly, daily and weekly charts' Slow Stochastic, indicating strong downward pressure on this pair. The price also floats in the over-bought territory on the daily and weekly charts' RSI, strengthening this notion. Forex traders may not want to miss out on this opportunity by entering the downward movement at a great entry price

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The Wild Card Gold 27 Aug 2009

The Wild Card Gold 27 Aug 2009

Thursday, 27 Aug 2009

Dollar Benefits on U.S. Economic Data; Today Traders Focus on the U.S Unemployment Claims

The U.S dollar gained ground Wednesday against the EUR and the British pound, after strong data on orders for new U.S.-made durable goods and new home sales comforted expectations of an improvement in the economy. The greenback traded higher after the durable-goods orders report said orders for July rose by 4.9%, the largest increase in 2 years. Investors will be watching for the new U.S. jobs report today before making significant moves

The Wild Card

Gold

There is still a bearish configuration on the daily chart, indicating that the momentum is still down. However, hourly chart's Slow Stochastic is about to enter an oversold territory, indicating that there might be a minor bullish correction before a broader bearish move resumes. Forex traders can maximize profits by selling on highs and taking advantage of a general bearish trend

 

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The Wild Card Crude Oil 28 Aug 2009

The Wild Card Crude Oil 28 Aug 2009

Friday, 28 Aug 2009

U.S. Consumer Spending Report at Forefront of Forex Trading Today

Forex trading to today are set to be driven by a batch of data from both the U.S. and Britain. The main release from the U.S. today that traders are waiting for is the Consumer Spending, also known as the Personal Spending report from the U.S. at 12:30 GMT. Forecasts put the figure at roughly 0.2% in July, about half the increase of June. However, the rise is mainly owed to the cash-for-clunkers program. Despite this, a positive figure may actually hurt the USD, as such a result could increase risk appetite. Therefore, in order to take advantage of end-of-week market behavior, open your positions in the USD, EUR, and GBP now.

The Wild Card

Crude Oil

Crude Oil has resurrected yet again as the top bullish commodity in Thursday's trading. The black gold currently stands at the $72.60 level. Today's technical data supports another possible upward move for Crude. This is mainly supported by the hourly chart's Stochastic Slow and 4-hour chart's MACD. So if you forex traders want to take advantage of this popular commodity now, then enter Crude as soon as possible as end-of-week trading kicks in

 

The Wild Card Gold 31 Aug 2009

The Wild Card Gold 31 Aug 2009

Monday, 31 Aug 2009

Forex Traders Anticipate Heavy News Week

The dollar was slightly more volatile over the past week than usual, and the explanations for this have been getting trickier by the day. As for this week, forex traders are advised to take positions on trades, as a string of data releases coming out of U.S., Europe and Japan are likely to affect the greenback's main currency crosses.

The Wild Card

Gold

Gold prices rose significantly in the last week and peaked at $955.45 an ounce. However, the 4-hour chart's RSI is floating in the overbought territory suggesting that the recent upwards trend is losing steam and a bearish correction is impending. This might be a good opportunity for forex traders to enter the trend at a very early stage.

 

The Wild Card AUD/USD 1 Sep 2009

The Wild Card AUD/USD 1 Sep 2009

Tuesday, 1 Sep 2009

USD Trades Lower on Market Optimism
There were more signs that the U.S. economy was improving, as a string of positive data was released yesterday from the U.S. the most significant was the Chicago PMI, which printed higher-than- expected figures in the month of August. This indicator is a primary gauge of manufacturing sector, acting as the main driver of the U.S. economy. On top of this good news, a rise in demand for U.S. goods from abroad is also likely to help boost the U.S. economy in the coming months.

The Wild Card AUD/USD
It appears a bearish cross has recently formed on the 4-hour chart's Slow Stochastic, indicating that this pair's recent downward correction may still have some steam. Now would be a great time for forex traders to join this recent run and capture the remaining profits before the rising trend continues.
 

The Wild Card Oil 2 Sep 2009

The Wild Card Oil 2 Sep 2009

Wednesday, 2 Sep 2009

The USD Benefits as Wall Street Slides

The greenback firmed on Tuesday as share prices fell, prompting investors to shed perceived riskier currencies. Despite better than expected numbers from the Institute for Supply Management, shares on Wall Street showed only muted enthusiasm to the data and quickly lost ground, lifting the U.S dollar, which has tended to be used as a safe haven against losses in equities. Ahead of the U.S. jobs data later today, traders said players were anxious about any negative surprises. As the market has become less sensitive to positive surprises from the U.S economic data, the effect of any weak figures would be bigger than the effect of any positive numbers.

The Wild Card

Oil

Crude Oil prices are once again dropping, and it is currently traded around $68.60 a barrel. And now, the 4 hour chart's Slow Stochastic is giving bullish signals, indicating that Oil prices might go up. This might give forex traders a great opportunity to enter a very popular trend.

 

The Wild Card Crude Oil 3 Sep 2009

The Wild Card Crude Oil 3 Sep 2009

Thursday, 3 Sep 2009

U.S. Unemployment Claims to Set the Level for the USD Today

The U.S. Unemployment Claims is the primary publication today that is set to determine the level of the USD when it is released at 12:30 GMT. The other main releases that are set to dominate forex trading, especially for currencies such as the Dollar and EUR is the publication of the Services PMI for Britain at 08:30 GMT, the EUR Minimum Bid Rate at 11:45 from the Euro-Zone, and the ISM Non-Manufacturing PMI from the U.S. at 14:00 GMT. What are you waiting for traders! Open your positions in the USD, EUR, GBP, and AUD now.

The Wild Card

Crude Oil

Despite much bearishness for the black gold this week, the popular commodity went through some flat trading yesterday. Crude currently stands at the $68.10 level. Both the RSI and the Stochastic Slow of the daily chart indicates that there will be much bullish behavior for Crude today. Going long with tight stops may bring big profits for forex traders today.
 

The Wild Card Crude Oil 3 Sep 2009

The Wild Card Crude Oil 3 Sep 2009

Thursday, 3 Sep 2009

U.S. Unemployment Claims to Set the Level for the USD Today

The U.S. Unemployment Claims is the primary publication today that is set to determine the level of the USD when it is released at 12:30 GMT. The other main releases that are set to dominate forex trading, especially for currencies such as the Dollar and EUR is the publication of the Services PMI for Britain at 08:30 GMT, the EUR Minimum Bid Rate at 11:45 from the Euro-Zone, and the ISM Non-Manufacturing PMI from the U.S. at 14:00 GMT. What are you waiting for traders! Open your positions in the USD, EUR, GBP, and AUD now.

The Wild Card

Crude Oil

Despite much bearishness for the black gold this week, the popular commodity went through some flat trading yesterday. Crude currently stands at the $68.10 level. Both the RSI and the Stochastic Slow of the daily chart indicates that there will be much bullish behavior for Crude today. Going long with tight stops may bring big profits for forex traders today.
 

Wild Card Gold 4 Sep 2009

Friday, 4 Sep 2009

U.S. Non-Farm Employment Change to Determine Today's Trends

The U.S. Non-Farm Employment Change Data is set to be published at 12:30 GMT, and is expected to be the most important news event when it comes to market volatility. Traders are also advised to follow the G20 Meeting that will commence today, and the U.S. Unemployment Claims data at 12.30 GMT. In the meantime, open your positions in the majors now, as today's trading gets under way.

The Wild Card

Gold

This popular commodity has recorded a 3 day winning streak, as it stands at the $990 level. Analysts expect Gold to go higher for yet another day. They may be right, as gold approaches a $1000. The Stochastic Slow of the hourly charts supports the upward trend for today. Going long with tight stops may bring high returns for forex traders today.
 

Wild Card Gold 7 Sep 2009

Monday, 7 Sep 2009

Dollar Expects Low Volatility Today

Today is a quiet news day for the U.S. and Canada, as there are no economic data releases on the calendar today. However, Britain and Euro-zone appear to be releasing the bulk of today's news, which means we may see a day of trading with low liquidity and therefore increased volatility. Day-traders can take advantage of these intense trading days by swinging within the larger-than-normal price fluctuations

The Wild Card

Gold

Gold

prices rose significantly in the last week and peaked at $992.65 for an ounce. However, the daily chart's RSI is floating in an overbought territory suggesting that a recent upwards trend is loosing steam and a bearish correction is impending. This might be a good opportunity for forex traders to enter the trend at a very early stage

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