DAILY FORECAST FOR GBPUSD Bias: I rather favor a move to 1.5895-15 before a recovery else breach will generate more aggressive losses Watch the 1.5895-15 support. It is only if this area breaks that the risk will remain bearish for 1.5832-60 at least. Take care here as this does have a minor chance of holding [...] [...more]
2010-01-29: EUR/USD Falls on European Fiscal ConcernsThe U.S. dollar rose on Thursday to a 6-month high against the EUR as investors around the globe signaled approval of the Federal Reserve’s more upbeat outlook for the U.S. economy. The U.S. currency continues to rally on persistent concerns over the fiscal health in some smaller Euro-Zone countries [...] [...more]
DAILY FORECAST FOR AUDJPY Bias: I feel we should see a recovery to 80.72-92 but then look for losses I remain with a target around 78.83 but don’t think we’ll get there directly. More likely we have seen the low today and while the move could be choppy I feel the day should see a [...] [...more]
2010-01-28: USD Gains on Interest Rate Hike Speculations Following signals from the U.S. Federal Reserve that American interest rates may be increased sooner then expected, the U.S. Dollar got a significant boost in trading last night and in the early morning today. Today, a full set of Dollar related news events will likely determine the [...] [...more]
2010-01-28: USD Gains on Interest Rate Hike Speculations Following signals from the U.S. Federal Reserve that American interest rates may be increased sooner then expected, the U.S. Dollar got a significant boost in trading last night and in the early morning today. Today, a full set of Dollar related news events will likely determine the [...] [...more]
DAILY FORECAST FOR GBPJPY Bias: While 145.50-60 supports we should see a retest at 147.28-45 before lower again Yesterday saw the 143.63 low hold and we have seen strength since then. I feel we do have a little more to go. While 146.13 caps we should see a shallow pullback that should hold above the [...] [...more]
2010-01-27: Federal Funds Rate Leading Event in Today’s MarketThe most important event of the trading day is likely going to be the Federal Open Market Committee’s (FOMC) Federal Funds Rate statement at 19:15 GMT. With Fed Chairman Ben Bernanke’s recent re-confirmation there is an opportunity for him to return some market optimism with a renewed [...] [...more]
2010-01-27: Federal Funds Rate Leading Event in Today’s MarketThe most important event of the trading day is likely going to be the Federal Open Market Committee’s (FOMC) Federal Funds Rate statement at 19:15 GMT. With Fed Chairman Ben Bernanke’s recent re-confirmation there is an opportunity for him to return some market optimism with a renewed [...] [...more]
DAILY FORECAST FOR USDCAD Bias: We either found the top at 1.0691 or there will be one further extension to 1.0747-84 The rally developed but passed through the 1.0640-48 target to extend to 1.0491. I do see a valid target there too but I’m not sure that momentum is quite bearish enough to cause a [...] [...more]
2010-01-26: Forex News Expected to be Dollar Positive TodayThe Dollar experienced mix trading yesterday, climbing against the Yen but falling against the EUR with traders anticipating both Japanese and U.S. interest rate decisions and a bloc of economic data. The economic releases to come may be a positive for the USD. USDYesterday’s release of U.S. [...] [...more]
