Articles By Roger Baettig
The highly anticipated "Fifty Shades of Grey" film has completed filming in Vancouver, Canada and the film's cast and crew members are celebrating. On Friday, Feb. 21, Fifty Shades of Grey author E.L. James announced on Twitter that the movie adaptation filming is finally done.
In order to manage a currency crisis, selling off foreign currency to mop up local currency averts a long term crisis.
The People's Bank of China has released notice to require banks and companies to use the yuan in their international transactions.
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With little on the fundamental calendar today, a steady April uptrend, and continuation patterns on several charts and timeframe we expect more of the same today - dollar weakness. Not that the markets always do what we expect, but that is why we have a trading system: so that we have control when the markets don't do what we expect.
Markets held still for most of yesterday... and then dropped like a rock in the past few hours. That dropping has been great for our AU, GU and Uchf all in the profit. Our EU short was early by about 12 hours - it got triggered yesterday on the 2845 support break, but unfortunately was closed out on...
The pair EUR/USD stumbled yesterday on 1.33 and has started a powerful rally bearish. The price is currently sailing below the center line of its medium term bearish channel (blue line on charts). The pair deviates from its descending triangle (orange lines).
The pair USD/JPY gave us a new buy signal by breaking the resistance at 92. This has allowed a test of the daily resistance at 93. Support levels were slightly changed to fully take all recent highs and lows.
Buy @: 1.6058
TP Buy @: 1.6075
SL Buy @: 1.6008
While a strong bullish movement of 300 pips occured a few days ago after a test of the support at 1.6086, the movement has been completely retraced in two days. The sell signal was given by the break of the support at 1.6180. The pair GBP/USD is currently very volatile and forms a V-top pattern, suggesting that the downtrend should continue.