Friday July 8, 2005 - 11:30:56 GMT
Share This Story
Black Swan Capital - www.blackswantrading.com
“The way the market seemed to you was actually the way you created it in your own mind.”
Mark Douglas, The Disciplined Trader
FX Trading – Aussie clues?
Non-farm payroll out today—as you know. Fireworks as usual are expected. Maybe one of the currencies this morning could be telling us something—it’s the Aussie.
Does strong employment news recently out of Australia trump poor housing market news? Will the metals get a little reprieve in here? Will the Aussie take on a dollar-proxy roll as the European continue to get pummelled? Not sure of the answers, but we do see double daily doji’s on the currency futures chart (Wednesday and Thursday). And a battle is shaping up today.
A doji is a Japanese candlestick pattern that often signifies a change in trend. But needless to say, you need more information for validation. But it should always be a signal to be alert. Often if it is not a change in trend, it can lead to acceleration of the existing trend. Makes sense, as a doji represents in essence a tie between the bulls and the bears. Once a winner is decided, the losers hop on board and a new trend develops.
CHART - Daily Aussie futures
Black Swan Capital
Forex Trading News
Daily Forex Market News
Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."