Trading in foreign exchange is akin to judging a reverse beauty contest. The trick is to buy the “least ugly” currency at the right time. Nearly every central bank is engaging in some sort of manipulation of its currency, from outright intervention in the marketplace, such as in Brazil and China, to pumping up the money supply to inflate local stock markets, such as in Australia, China, England, the Euro zone, and India. Other central banks engage in “verbal jawboning” to keep traders in check.

Central banks are key players in the $2 trillion-a-day currency market, and traders are always on the lookout for signals that central banks are diversifying their FX reserves away from the US dollar. Global central bank reserves have more than doubled to $4.9 trillion in just three years, with particular focus on the massive US dollar stockpiles built up by Asian central banks, which could be switched into other currencies such as the Euro, Japanese yen, British pound, or Gold.

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Sunday, October 29, 2006

The US Dollar Bear Market - Is the downtrend about to resume ? / Currencies / Forecasts & Technical Analysis

By: Nadeem_Walayat

The US Dollar (USD Index) has sold off strongly in recent weeks, does this signify a resumption of the long-term dollar bear market ?

After Bottoming in late 2004 at 80.39 , after which we have basically seen a correction against the downtrend that has taken the dollar to as high as 92.6 in late 2005, since which the trend has been down with recent sideways activity within the range of 87 to 84. With most recent action closing near the lower end of the range at 85.20

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Saturday, September 23, 2006

The Pound is finding resistance above 190 / Currencies / British Pound

By: Nadeem_Walayat

The British Pound has rallied strongly from the lows earlier in the year to 190, but now has hit heavy resistance at above 190, which suggests a correction is likely.

The Pound is finding resistance above 190

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Tuesday, April 18, 2006

Is it time for the British Pound to resume its Bull Market ? / Currencies / British Pound

By: Nadeem_Walayat

The British Pound (GBP) has spent the last 6 months building a firm support base between 170 and 178, and is now showing signs that it is ready to resume the main uptrend that began June 2001.

Is it time for the British Pound to resume its Bull Market ?

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Thursday, January 01, 1970

Forex Trading Perspective, Trends & Finding New Opportunities / Currencies / Forex Trading

By: EWI

Jim Martens shares key insights into trading currencies with the Wave Principle

In this brand-new video interview, EWI Senior Currency Strategist Jim Martens shows you his approach to the forex markets -- and how the "simplicity" of Elliott wave analysis has guided him through 23 years of forecasting.

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