Texas Trade Report Daily Report For 5 December 2013

Good Morning, Good Afternoon or Good Evening where ever you are in the world.This is Texas Trade Report for 5th of December 2013. This is the Texas Trade Report. I have decided to do daily trade reports. The highlight of this report is on the EUR/JPY as our focus and some other pairs that were scanned as a result of Forex Trendy-Trend Analyzer and Currency Pair Analyzer. Also, I do focus AUD,NZD,CAD bases pairs and do trade the Yen Crosses.For today we are focusing on EUR/JPY. Before  I go any further here is the risk disclaimer. 


Risk Disclaimer:
  Trading Forex is risky business and sometimes you will lose the money that you traded. You are leveraged 50:1 or even more. There is the risk of loss of the money have invested. Never invest money that you are not committed losing. There is a possibility of losing your original investment. If you are not sure about investing, seek the help of registered investment adviser.

Also, the purpose of this trading lesson is education. This does not constitute trading advice. Nor do I give out trading signals. All opinions are my own and not blogger.com nor Google.com.


On to the EUR/JPY, today the pair rose after the announcement from the ECB and the ECB decided to keep the interest unchanged. This allow the pair climb for a bit and rose to rose 139.54. My view has not changed with it being overbought. I still hold the view the pair can go lower. It rose and tried to climb higher after the news of Draghi's speech and press conference. This is a temporary bounce. I believe that this pair will head lower to 135.25 area of support. to test those as a low.


On to some other currency pairs that I had help with because I was off sleeping at the moment. The amazing thing was I had the pleasure of testing a new weapon as it were for helping analyze currency pairs and trend directions.  I am using the  Forex Trendy-Trend Analyzer and Currency Pair Analyzer and has done the trick really well of analyzing them and when I can't. I am very pleased and going to the analysis on those pairs that it has found. The first pair from Forex Trendy and here is my analysis from its discovery.

The first pair from its analysis is the NZD/CAD. Looking the daily chart, I expect this pair to trend higher. It is currenly trading at 0.8725.I do expect a  small retracement and not a major one. The areass to look for 0.8672 and 0.8613 to hold its bullish momentum. Interest rate hikes coming in 2014 for the Kiwi. This pair will move northward and the RBNZ has made it clear that are looking to hike interest rates starting at the beginning of 2014. The only thing is concerning is house prices rising for the RBNZ. The interest hikes are in lieu of concern for the QE in the US and not wanting to follow the same program that Bernanke and Yellen and company want to either continue or taper. I believer regardless of the outcome that should not have  big affect on crosses that are not USD based and JPY based.

Onto CAD/CHF which is another pair it help me to confirm some of the earlier commentary on CAD/CHF. This pair has been currently trending downward. I believe it is still due for a bounce will probably get one as soon as it finds bottom. I don't like to call tops and bottoms. Generally, you can end up  wrong. I am not prepared to get my blouse and hat handed to me. Right at moment, the CAD/CHF is trading at 0.8438 at the time of writing this commentary. I still believe it will find and bottom and head higher.

It will happen very soon and probably in the next few days that it could turn and head up after breaks the downward trend.









Also, I recommending the Forex Trendy software because it has done really good job and can be credited for helping put together this commentary.  Check it out and see the difference when you are not around to help do your analyst. Just think of it as extra tool in your trading arsenal. I am very happy for Forex Trendy people  to allow me used this as part of my analysis for day. We as traders need help to find trades when we can't get at the charts. This tool does that. I highly can recommend them. I will using them as part of this analysis our forecasts.

We had need to see if the prevailing though of risk trends still prevails and continues. Will the US dollar continue prevail long term. It is up in the air at best. We will have to see what will happen over time.. This part of the report to highlight current market conditions. We will still need to pay attention to the bond yields and bond auctions to see if people continue to buy US treasury paper and whether the yield will spike down the road. The thing this week is the upcoming NFP and how it will affect risk trend or continue for a little while longer. Pay to attention to NFP on Friday because it is very volatile. Also, we need to pay attention and keep ahead of the game. Data from the NPF will influence the Fed's policy decisions. Also, look to the statistics from the US Department of Labor and don't forget to the U-3 measure of how to calculate unemployment from the US Bureau of Labor and not the BLS calculations and not ADP report.  Good luck trading out there everyone. I will put out another report tomorrow.

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