Go Back   DailyFX Forum > Blogs
Reload this Page FXKnight

Old

Yen Ranges Against US Dollar

Posted 09-19-2008 at 10:33 AM by fxKnight.com (FXKnight)
Yen Ranges Against US Dollar

The recent turmoil in the financial markets left many currency traders unsure of the next direction. This can perhaps best be seen in the recent price action of the USD/JPY pair, which is experiencing high volatility and a daily range with support at 104.13 and resistance about to be tested again at 106.73

If price can break above 106.73 then hold that level as support, we could see a move up with the next targets at 107.48 and 108.09; if not, then a bounce would likely bring us down to support at 105.52, 104.60, and perhaps ultimately again 104.13
fxKnight.com's Avatar
Special Guest Trader
Posted in Uncategorized
Views 185 Comments 0 fxKnight.com is offline
Old

Will a Ban on Short−Selling Help the Dow?

Posted 09-19-2008 at 10:31 AM by fxKnight.com (FXKnight)
Will a Ban on Short−Selling Help the Dow?

he SEC just released a list of 799 financial firms on which they have forbid short-selling, mirroring a similar move made yesterday by the UK's FSA.

The complete list can be found here: http://www.sec.gov/rules/other/2008/34-58592.pdf

But will such a move really help the markets? In the short-term, we can see it already has. People with little understanding of the markets are already rushing back in, thinking that somehow everything is more "safe" as result. In reality, most of the recent drops we've seen in the share prices of financial firms were due to regular shareholders sensing danger and getting out, not short-sellers (and for every seller...
Continue reading...
fxKnight.com's Avatar
Special Guest Trader
Posted in Uncategorized
Views 164 Comments 0 fxKnight.com is offline
Old

What a Financial Crisis Means for Gold

Posted 09-19-2008 at 10:29 AM by fxKnight.com (FXKnight)
What a Financial Crisis Means for Gold

Gold, traditionally a safe haven in uncertain times and a hedge against inflation, has seen tremendous volatility the past few days. The collapse of Fannie, Freddie, Lehman Brothers, AIG, and HBOS has sent investors ducking for cover, many of them turning to gold and causing prices to soar by more than $142 per ounce in a single day.

The announcement of a ban on the short-selling of financial stocks both in the UK and the US capped the rally just as dramatically, as investors needed access to capital to buy back into what they perceive to be a safer market. The release of a plan to acquire the remaining bad mortgage debt left in the markets (about 1/2 trillion worth) should...
Continue reading...
fxKnight.com's Avatar
Special Guest Trader
Posted in Uncategorized
Views 147 Comments 0 fxKnight.com is offline
Old

Projected Bottom for the GBP/JPY

Posted 09-10-2008 at 10:21 AM by fxKnight.com (FXKnight)
Projected Bottom for the GBP/JPY

After hitting last month's targets and a brief retracement back up to test the 200 moving average as resistance, the GBP/JPY has resumed its downward movement.

Where will the unwind of the carry trade eventually leave us?

Our current projection, based upon a 38.2% Fibonacci retracement, is at 178.71, with price likely to encounter support along the way at 188.82 and 184.32

197.84 will likely act as resistance, capping off any surprise moves to the upside.
fxKnight.com's Avatar
Special Guest Trader
Posted in Uncategorized
Views 174 Comments 0 fxKnight.com is offline
Page 5 of 7 1234 5 67
Andrei Pehar, Sr. Currency Strategist, fxKnight.com

Andrei is a private fund manager, consultant to management, and a sought-after speaker and coach for professional traders and individual investors alike. At a young age he was already playing in professional chess tournaments, and went on to further hone his strategic skills through years spent studying Japanese martial arts. From both worlds, he brings with him a unique perspective to the financial markets.

His client list includes prestigious names such as UBS, Tower Asset Management (named by Bloomberg as top asset manager), Clifford Associates (investment counselors since 1915, officially acknowledged as the oldest in the United States), and several other high profile firms specializing in investment and wealth management for musical artists, sports celebrities, and other ultra high net worth individuals and trusts.

Andrei is a regular contributor to BabyPips, DailyFX, and FXStreet. He is currently working on a book which will, for the first time, introduce retail traders to institutional trading strategies and techniques. His site fxKnight.com provides free tools and strategies for professional traders and individual investors (including live chat, strategy forums, training videos, worldwide market news, and streaming ForexTV).


Click Here to view videos by fxKnight


Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

All times are GMT -5. The time now is 09:35 PM.
Copyright ©2009 Daily FX. All Rights Reserved.