Archive for March 26th, 2007
Dollar Fell on New Home Sales
Posted on26. Mar, 2007 by admin.
The dollar fell across the board after a government report showed US new home sales dropped from an annual rate of 985K to 848K in February, the lowest rate since June 2000. This is an unusual big drop in housing sales during spring buying season. The currency weakened to above 1.33 and 1.97 against the [...]
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Be In Harmony with the Market
Posted on26. Mar, 2007 by admin.
We make money trading when we are in harmony with the market. We are long when the market is going up, and short (or out of) the market when it is going down. If we bring an opinion with us while trading, we will end up fighting the market. We keep trying to go long [...]
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Determining the RSI range
Posted on26. Mar, 2007 by admin.
An up trending market will typically find support at the 40 level, with effective resistance at the 80 level. A down trending market will find resistance at 60, with effective support at the 20 level. Often times a primary indication that the trend has shifted from a bear trend to a possible bull market occurs [...]
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The Bullish Hidden Divergence
Posted on26. Mar, 2007 by admin.
In a bullish hidden divergence, the indicator makes a lower low, but price makes either a higher low or a double-bottom low. This type of nonconfirmation occurs mainly during corrective declines in an uptrend, but it may also be found on occasion at price retests of the lows. Bullish hidden divergence indicate underlying strength in [...]
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Classic divergence
Posted on26. Mar, 2007 by admin.
Classic divergence is one of the best-known types of nonconfirmation. A divergence is a separation between price and indicator that warns of a possible short- to intermediateterm change of trend. A bullish divergence arises during a down move when price makes either a lower low or a double bottom but the indicator makes a higher [...]
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Kiwi Rallies Across The Board
Posted on26. Mar, 2007 by admin.
Reversing the late Sunday losses, the New Zealand dollar rallied against its major counterparts through the early morning deals on Monday in New York.
On Sunday, an hour before the New Zealand February trade balance data, which was scheduled to be released at 6:45 pm ET, the kiwi spiked lower across the board but rebounded soon [...]
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Sterling Adds To Recent Gains Versus Euro
Posted on26. Mar, 2007 by admin.
The sterling gained ground on the yen and euro in early dealing Monday in New York, with traders awaiting Monday evening’s release of UK house prices data.
The pound posted steady gains against the yen Monday morning in New York, bouncing back from losses in the previous session. The sterling fetched 231.95 approaching mid-morning, with traders [...]
