Comdoll Trading Kit (February 13-17, 2012): Midweek Market Analysis

Thanks to requests from my friends on Twitter and Facebook, I decided to write a midweek market analysis. Hopefully this could help my fellow traders understand what’s been moving our favorite currency pairs lately, and maybe help us form trade ideas in the next couple of days.

First up are the market themes that have been influencing price action.

Market Themes

Greek Bailout: deal or no deal?
Early this week we saw high-yielding currencies rally across the board after the Greek Parliament approved a new set of austerity measures that might help get the economy 130 billion EUR worth of new bailout money. Unfortunately, the cancellation of a meeting of the euro zone finance ministers implied that Greece won’t be receiving anything just yet.

Moody’s downgrades ratings of 6 European countries
Credit ratings agency Moody’s rained on the risk rally’s parade when it downgraded credit ratings of Italy, Malta, Portugal, Slovakia, Slovenia, and Spain and even put the U.K., France, and Austria on downgrade watch. Yikes!

BOJ expands asset purchases by 10 trillion JPY
The BOJ surprised markets yesterday when it not only added 10 trillion JPY to its asset purchasing program, but also revealed its 1.0% inflation target. The yen weakened across the board as markets took the central bank seriously on its pledge to keep its economy afloat.

Comdoll Review

It’s time to look at the comdolls! If we take a look at the chart below, we can see that as of writing, all of the comdolls are posting intraweek gains against the dollar.

Comdoll Intraweek Update

The Kiwi is the strongest so far with a 0.64% gain, which is probably helped by a strong retail sales report. A rise in oil prices also kept the Loonie well supported at a 0.49% gain, while mixed economic reports from Australia probably weighed on the currency as it’s only showing a 0.19% intraweek gain.

So what’s next for the comdolls? On the calendar below we can see that we still have the U.S. PPI, Philly Fed index, and the Canadian and U.S. CPI reports to possibly influence our trades. Of course, we can’t forget that investors are still at the edge of their seats on whether Greece would be able to pay its debts on time!

Alright, that’s it for me today! Did I miss anything, or do you guys have any questions? Don’t hesitate to contact me through one of the links below!

Hope you’re earning pips this week!

Comdoll Event Highlights for February 13-17, 2012

Comdoll Events for February 13-17, 2012

All three commodity-related economies are set to release a bunch of top-tier reports this week so there could be plenty of opportunities for us to trade the news. New Zealand will print its retail sales figures on Tuesday while Australia is set to report its jobs data on Thursday. Towards the end of the week, Canada will release its manufacturing sales data as well as its core and headline CPI figures.

Significant Levels to Watch Out For

Whether you’re planning on using the STA strategy or just simply marking your charts for the week, you’ll definitely want to take a peek at these levels!


AUD/USD USD/CAD NZD/USD
Week Open (WO)
1.0691
1.0013
0.8290
Previous Week High (PWH)
1.0845
1.0040
0.8408
Previous Week Low (PWL)
1.0640
0.9926
0.8250
Top Weekly ATR (tWATR)
1.0834
1.0110
0.8402
Bottom Weekly ATR (bWATR)
1.0549
0.9917
0.8179
Other significant levels
1.0650, 1.0750
0.9950
0.8265, 0.8370

Alright, that’s it for me today! If you want to ask or share anything, just holler through one of the links below. You know where to reach me!

@Happy_pip Twitter
Playing with Comdolls Facebook page
Happy Pip Comdoll Corners
MeetPips.com

Happy trading to you all!

Happy time

Other Popular Articles:

Comdoll Trading Kit (February 6-10, 2012) NZD/USD trade What is STA strategy? 2012 Gold and Oil Predictions

  • Gworden

    Twice in the past week I’ve seen reports on Bloomberg that two different
    RBA governors stated the AUD was too high and hurting exports. One
    governor indicated the desired rate was close to 0.9000. Could we see a
    long-term downtrend as the RBA attempts to depress the AUD?

    • happypip

      That seems likely as some RBA officials are already considering intervening in the forex market to keep AUD from rising. Forex Gump wrote about it recently right here: 
      link to babypips.com

  • Jtellett

    I like the new page layout.  Looks good!

    • happypip

       You’re welcome! Just let me know if I can post anything else comdoll-related that might help you guys in your trades. Happy trading! :)