Category: Forex Trading
The analysis published under this category are as follows.
Tuesday, March 03, 2009
U.S. Dollar Gains, When Will the Flight to Quality End? / Currencies / Forex Trading
By: ForexPros
The USD holds on to gains as lower equities and falling Gold prices pushed investors into flight-to-quality instruments lifting USD to better levels against most major pairs. The one exception is USD/JPY which has failed to extend gains for a second day; high prints overnight at 97.92 went unchallenged in New York as did lows at 96.90 but the rate spent most of the day under the 97.50 area making today an inside range day with a neutral close. Traders note that dips near the 97.00 handle were met with quality bids but the lack of upside follow-through suggests that the rate is topping and due for a deeper correction. Most analysts point out that the USD DX is at a three year high on lighter volume suggesting also that the USD is near a top near-term. Should the USD/JPY break into stops said to be resting between 96.50 and 96.80 area there could be a sharp break pulling all the USD pairs lower. Read full article... Read full article...
Wednesday, February 25, 2009
Trading Forex: US Dollar versus the Japanese Yen (USDJPY) / Currencies / Forex Trading
By: INO
I have to start out by stating that "I love the forex markets." But what's this?
Here we are going to hell in a handbasket in the US, yet everybody wants to own dollars.
Go figure.
Read full article... Read full article...
Wednesday, February 18, 2009
U.S. Dollar Stalls at Resistance / Currencies / Forex Trading
By: ForexPros
The USD continued to climb overnight but stalled off the highs in New York showing some signs of topping again as the long-awaited government “stimulus” bill failed to encourage investors today. At this writing President Obama is signing into law a record spending bill that has serious flaws and serious short-sighted programs in my view which will lead to a breakdown in economic recovery and a protracted recession/depression. Read full article... Read full article...
Thursday, February 12, 2009
U.S. Dollar Volatile Trend Lower into End of Week / Currencies / Forex Trading
By: ForexPros
The USD continues to trade mixed today after US data failed to inspire traders one way or the other. GBP fell to a new traded low of 1.4315 before reversing back to the 1.4370 area in lighter volumes; cross-spreaders continue to work the sell side of the rate into the New York close. Overnight UK data was also benign and remarks somewhat dovish but the rate remains firm on the 1.4300 handle ahead of more US data tomorrow. Traders expect more two-way action near-term so aggressive traders looking to buy the dip under the 1.4380 area remember to be nimble. Read full article... Read full article...
Wednesday, February 11, 2009
U.S. Dollar Volatile as Traders Not Convinced by Geithner’s Bailout Plan / Currencies / Forex Trading
By: ForexPros
Extreme volatility and more two-way action was the rule today as the major pairs whipsawed between highs and lows several times creating havoc for traders across the board. Weaker equities pricing in response to Tres. Sec. Geithner’s plan to bail-out the banking sector suggests that USD bulls are not convinced that the plan will work. Read full article... Read full article...
Monday, February 09, 2009
Trading USD/JPY- U.S. Dollar Vs Japanese Yen / Currencies / Forex Trading
By: INO
We are finally seeing some life come back into the dollar/yen relationship.
I have to admit, I love trading Forex, it's one of the most exciting and most profitable markets in the world.
Thursday, February 05, 2009
Volatility Plagues Forex Markets Ahead of Interest Rate Decisions / Currencies / Forex Trading
By: ForexPros
Continued volatility plagued the majors the past 24 hours as the USD continued to consolidate gains earned overnight although signs of topping continue. Overnight news as well as US data this morning failed to extend US gains past early highs seen in New York after the release of ADP private payrolls estimates. Showing another large drop projecting a dip in NFP on Friday, ADP came in at -553K. Although a negative number it was seen as an improvement over December’s numbers; USD got a slight boost on the news but GBP and EURO reversed; Read full article... Read full article...
Wednesday, February 04, 2009
U.S. Dollar Falls Amidst High Volatility / Currencies / Forex Trading
By: ForexPros
High volatility was the rule today as the majors advanced sharply against the Greenback as mixed data and stops in thin conditions exaggerated moves. Despite poor earnings from US automakers equities were able to hold onto slight gains into the end of the day helping to hold both EURO and USD/JPY off their lows and in the case of EURO to trade above previous resistance in the 1.3030 area for a high print 1.3037 before trading a full handle lower mid-day. Read full article... Read full article...
Tuesday, February 03, 2009
U.S. Dollar Trades Within Tight Trading Range / Currencies / Forex Trading
By: ForexPros
It is a mixed start for the USD this morning as the Chinese markets are back after the extended Lunar New Year celebrations; the Greenback is better against EURO, GBP, CHF and CAD but softer against JPY to start the month. Although trading was light to start Asia, technical follow-on buying from Friday saw the majors start losing ground steadily into early Europe; below-expectations UK CBI data helped pressure GBP into early lows around the 1.4230 area with traders saying a failure at the key support area of 1.4250 to extend losses. Read full article... Read full article...
Thursday, January 29, 2009
How to Trade the Forex Markets, Euro and the U.S. Dollar / InvestorEducation / Forex Trading
By: INO
Today, we are dissecting and examining one of my favorite markets ... the Forex market. The Forex market is the biggest in the world and is traded on a 24/7 basis.
What makes these markets so exciting is the fact that they have a very strong tendency to trend, that is, once they get started in one direction they tend to continue in that direction for some time.
Thursday, January 29, 2009
U.S. Dollar Regroups After Dramatic Overnight Plunge / Currencies / Forex Trading
By: ForexPros
After dropping dramatically overnight and into early New York the USD has reversed to hold gains across the board against the majors. Most traders note that volumes dropped off significantly ahead of the FOMC rate announcement suggesting that most were sidelined ahead of the statement. Analysts are divided as to the exact meaning of the statement; some suggest that the Fed stands ready to do “whatever it takes” to resolve the economic crisis while others say the Fed appears a bit panicky in view of interest rates at near-zero unable to add positive stimulus so far. In my view, the issue still remains short-sighted at best and long-term solutions will be hard to enact with a financial community wanting a quick fix. Read full article... Read full article...
Wednesday, January 28, 2009
U.S. Dollar Marks Time Ahead of FOMC Interest Rate Meeting / Currencies / Forex Trading
By: ForexPros
The USD is continuing in two-way action as the majors continue to consolidate off their weekly lows; traders note conditions remain thin and the lack of US fundamentals are keeping some sidelined ahead of the FOMC rate announcement tomorrow. After early gains in the Greenback overnight better-than-expected overseas data helped to hold the GBPO and the EURO higher although both pairs looked for new lows in early New York but reversed losses to close better on the day as early intraday shorts covered back as the day wore on. Better US equities prices helped to support EURO as well keeping the rate off the lows into the close. Read full article... Read full article...
Tuesday, January 27, 2009
U.S. Dollar Continues to Drift Lower Amidst Two Way Action / Currencies / Forex Trading
By: ForexPros
The USD gave back overnight gains as the Greenback failed to follow through during New York trade; at the close the majors are all better on the day but off their highs suggesting lots of two-way action and a potential short-squeeze underway. US data was better-than-expected this morning as existing home sales showed a gain suggesting that the housing crisis might be ending but savvy traders note that it will take more than one month of gains to suggest the housing problem is mitigating. Read full article... Read full article...
Monday, January 26, 2009
U.S. Dollar Under Pressure as Pairs Shorts Squeezed / Currencies / Forex Trading
By: ForexPros
The USD is mixed this morning after starting better in Asia; the Greenback is giving back gains across the board and opens new York better against CHF and JPY—lower against CAD and about flat against GBP and EURO. Overnight comments by BOE MPC member Blanchflower were seen as GBP-negative as he remarked “obviously rates are heading towards zero” and unemployment would rise;GBP low prints in Asia at 1.3547 were inside Fridays’ range and the rate is recovering to make highs in early New York at 1.3878 topping Friday’s highs. Read full article... Read full article...
Friday, January 23, 2009
Euro and Gold on the Rise / Currencies / Forex Trading
By: Mike_Paulenoff
Incredible that the (cash) equity indices closed slightly positive on the
session on Friday after a very ugly overnight session.
Most glaring from my perspective was positive the action in gold and in the
euro.
Read full article... Read full article...
Thursday, January 22, 2009
U.S. Dollar Overbought, Expected to Trade Lower with High Volatility / Currencies / Forex Trading
By: ForexPros
The USD suffered massive whipsaw today as stops on the upside got triggered forcing the majors into key support early only to rebound putting the USD mixed on the day holding gains only against the Swissy into the end of New York trade. Earlier reports of solid two-way action into the lows for GBP resulted in new monthly low at 1.3619 only to see a three big-figure rebound making for a near-hook reversal into the end of day as shorts got beaten back hard amid modest flows. Highs in Asia at 1.4025 remain unchallenged as of this writing but with a solid close for equities in positive territory follow-on buying can’t be ruled out. Traders note that most of the action was right around the London fix leaving the late shorts holding the bag. Read full article... Read full article...
Wednesday, January 21, 2009
US Dollar Continues to Climb Higher on Obama Honeymoon / Currencies / Forex Trading
By: ForexPros
The USD continued its climb against the majors today reaching the best levels of the day late against most pairs after suffering a setback earlier today. Weaker equities offered a bit of pressure as USD/JPY fell back through the 90.00 area late to make lows at 89.73; volumes remain light and traders note that the rate is due for a short-covering rally suggesting that a low-volume dip today may be the lows for the week. High prints overnight at 90.99 went unchallenged in New York trade. Read full article... Read full article...
Tuesday, January 20, 2009
U.S. Dollar Attracts New President Obama HoneyMoon Euphoria Buying / Currencies / Forex Trading
By: ForexPros
After a three-day weekend that saw the USD advance against the majors on Monday, the Greenback is extending its rally against most major pairs again this morning; the big mover overnight is the GBP as the rate falls to a new multi-year low. Traders report thin conditions but lot’s of two-way action as Cable falls through the 1.4100 handle for a low print at 1.3912 in early New York. Starting overnight as GBP crosses remained under pressure the drop in Cable was pressured by Russian sales of GBP and EURO as the Russians attempt to support their currency. Traders estimate around 10B the last 24 hours was spent by the Russians most of it in GBP but some in EURO and USD. Read full article... Read full article...
Thursday, January 15, 2009
How to Use Elliott Wave to Boost Your Forex Trading / InvestorEducation / Forex Trading
By: EWI
Elliott wave analysis is something many Forex traders use. It's not a crystal ball (what is?), but it helps you accomplish three crucial goals: Identify the trend, stay with it, and know when the trend is likely over.Read full article... Read full article...
Thursday, January 15, 2009
U.S. Dollar Strength Expected to Dissipate Towards End of the Week / Currencies / Forex Trading
By: ForexPros
The USD ended the day fairly subdued after most of the day’s action centered around this morning’s release of US retail sales data; coming in weaker the news was seen as neutral to bearish for the Greenback but the USD continued to hold its own against the majors through the day’s action. Most pairs fell into new lows on the day after erasing gains seen in Asia to start the day making the potential upside for the USD look better into the close but the facts are tomorrow’s US data cannot possibly be seen as supportive suggesting that the USD rally has run out of upside momentum. Read full article... Read full article...