Pipcrawler

Pipcrawler

Every day, I try to find what I believe is the best-looking short-term currency trade setup for the upcoming trading day or week. If you're a forex newbie, it can be tricky trying to figure out how to look at charts and draw lines. My goal is to help you understand the psychology behind price movements in the foreign exchange markets, so you can learn to analyze your own currency charts and trade on your very own.

Articles by Pipcrawler

Pick of the Day: USD/CHF – Trade Closed

The rest of our position was stopped out at breakeven as the Greenback found momentum to the upside as we near the end of the Euro trading session. It looks like 1.2200 was a pretty good support level for the pair as the pair found a low at 1.2075 before buyers brought the dollar/swiss back above 1.2200.

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Pick of the Day: GBP/USD -Close Open Orders

We’re nearing the end of the trading day for the US trading session and it looks like GBP/USD has been trading in a tighter range than anticipated. It missed our long entry point at 1.9270 several times by hitting around 1.9280 before shooting back up to 1.9300. So, no trade for today and we will

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Pick of the Day: EUR/CHF

EUR/CHF has been trending downward during the global liquidation and now we’re seeing a retracement. We aren’t expecting any major news events out of Eurozone or Switzerland, so we’re going with a pure technical play as we eye 1.6100 as a major resistance level and a great price to jump in short.

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Pick of the Day: USD/CAD – Close Open Orders

We just saw a lot of data released this morning out of Canada and the US. In Canada, Building Permits rose 11.3% versus the forecast of 2.1%, but traders waited until after the Bank of Canada Interest rate statement before trading. The BoC left rates at 4.25%, after which we saw

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Pick of the Day: EUR/JPY

With the whole “Yen carry liquidation” scare, whether it’s real or not, has brought many of the Yen crosses down to what seems like an “extremely” oversold level. This may be a great opportunity to

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Whether you think you can or think you can't, you're right.Henry Ford