Thursday, July 31st, 2008 •
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Candlesticks and intuition: seeking confirmation in a volatile market
Once a forex trader understands that candlesticks give an indication of market psychology and enthusiasm (or lack thereof) at a given point in time, deciphering their meaning becomes intuitive.
Consider the current one-hour chart of USD/JPY, below:
It takes little imagination to see that the candlesticks inside the violet […]
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Tuesday, July 29th, 2008 •
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Crude oil continues to retreat from record highs due to demand destruction in a weakening global economic scenario. Mild U.S. dollar appreciation did not alter established trading ranges, merely the price’s location within them.
Australian 2Q2008 PPI rose by 1.0% q/q, less than expected, lowering the y/y measure to 4.7% from 4.8% previously, another sign the […]
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