Posted on April 21, 2009 at 7:35 in Uncategorized by Pierre CharleboisNo Comments »

We are an hour away from the NYSE open and the currency market has gone quiet. It seems that after yesterdays run on the EUR/USD traders are waiting for queues from the North American stock market.

A look at the EUR/USD 4 hour chart reveals little however my bias leans slightly towards a little more EURO recovery as it was so oversold.

My suggestions for today is to look for shorter term trades as the market action is most likely to go sideways for the next several hours. I’ll post a possible method for this.


Posted on April 20, 2009 at 11:59 in Uncategorized by Pierre CharleboisNo Comments »

Trader sentiment is clearly favoring the USD and looks poised to continue.

We are now sitting at an important trend-line and should see some bounce during the late US or Asian session. Whether we will now see a larger recovery remains to be seen.

The pair is very oversold and I am left to wonder what the next move is. Overall I favour Dollar strength but what of the next week or so?