Category: Forex Trading
The analysis published under this category are as follows.
Wednesday, January 14, 2009
British Pound Falls Sharply Across the Board / Currencies / Forex Trading
By: ForexPros
The USD continued to grind higher finding light stops in thin volume as the Majors retreated during New York trade. As equities sold off after the release of better-than-expected Balance of Trade data this morning USD/JPY rose to 89.89 high print before dropping back slightly to hold back above the 89.00 handle for most of the day. High prints were only challenged once as the rate was unable to hold the 89.00 handle into the close suggesting that short-covering has not provided enough impetus to hold the rate firm off the 2008 lows; traders now expect the rate to challenge the 87.00 handle near-term before making for a new 2009 low. Read full article... Read full article...
Tuesday, January 13, 2009
U.S. Dollar Continues Firmer Trend / Currencies / Forex Trading
By: ForexPros
After starting better this morning after a firmer overnight session the USD ends mixed as technical two-way action and thin conditions continue to dominate near-term. Traders note that some price action was “unexplainable” today, such as a fast 80 point rally shortly after the London fix in EURO which immediately fell back but the damage was done; the 1.3400 handle traded and that is important to the chart-watchers after the low prints at 1.3289 traded early in the day. Aggressive traders can buy EURO on any test of the lows under the 1.3300 area in my view. Read full article... Read full article...
Sunday, January 11, 2009
How to Use Elliott Wave Analysis to Boost Your Forex Trading / InvestorEducation / Forex Trading
By: EWI
This 90 minute video lesson features Elliott Wave International Senior Currency Analyst, Jim Martens, demonstrating how you can use Elliott wave analysis to identify opportunities in your Forex trading. For a limited time, you can access the full $79 online trading course, FREE. Visit Elliott Wave International for your free access . Read full article... Read full article...
Thursday, January 08, 2009
U.S. Dollar Whipsaw, Large Buy Order Lifts British Pound / Currencies / Forex Trading
By: ForexPros
The USD reversed again after the London fix today as the majors made highs and then retreated as the end of the New York session drew closer; Cable and EURO both retreated over a big figure after posting highs near technical resistance. High prints in GBP at 1.5284 came around the London fix as a very large buy order hit the market into the fix; traders note that thin conditions likely exacerbated the move and the highs were sold by short-term accounts as well. The rate fell back to the low 1.5100 handle and looks ready to close under the 1.5100 area as well; traders note a long selling wick on the daily chart suggesting that the technical objective for the short-term longs was reached as the rate scored 1.5250 area. Read full article... Read full article...
Wednesday, January 07, 2009
US Dollar Volatile Two Way Action as Sterling Strengthens / Currencies / Forex Trading
By: ForexPros
The USD started the day on a strong note rising to early highs against most pairs in New York but has since falling back to make lows in some cases. Traders note that today’s US data was as expected and showed no real surprises suggesting that today’s action was driven by technical factors more so than sentiment. Most pairs met technical objectives for S/R during the past 24 hours or so lending some credibility to the argument. Read full article... Read full article...
Tuesday, January 06, 2009
Intense U.S. Dollar Buying / Currencies / Forex Trading
By: Mike_Paulenoff
The fact that the Euro has weakened (dollar has strengthened) beneath the 1.3500-1.3450 area this morning and is confirmed by my daily RSI (momentum) gauge) indicates that more dollar buying power, and more Euro selling pressure, is directly ahead. The ETF for euro-dollar traders is the CurrencyShares Euro Trust (NYSE: FXE). The intense dollar buying will likely press the EUR/USD into the 1.3250-1.3150 target zone, which must contain the decline to avert a full-fledged retracement of the entire Nov-Dec EUR/USD advance from 1.2330 to 1.4720.Read full article... Read full article...
Tuesday, January 06, 2009
U.S. Dollar Strong Technical Rally to Sell Into / Currencies / Forex Trading
By: ForexPros
The USD is better against most major pairs this morning as traders unwound EURO-Sterling and Yen pairs giving the Greenback a boost by default some desks report. Stops were driving trade as the USD crossed several important S/R levels overnight; most notably in EURO as the rate fell through stops at 1.3500, 1.3440, and 1.3390 for a low print at 1.3330. Read full article... Read full article...
Friday, December 19, 2008
U.S. Dollar Falls off a Cliff / Currencies / Forex Trading
By: Joe_Gelet
Recent move in the USD proved a good case study for a strategy EES has been working on called “Golden Grid”, an EA based on Fibonacci levels.
Unusual market conditions: USD falls off a cliff
Read full article... Read full article...
Wednesday, December 17, 2008
Learn to Trade Forex Markets Trends and Timing / InvestorEducation / Forex Trading
By: INO
In this week's video, we will be exploring the world of foreign exchange.
It is also commonly known as the forex market to industry professionals.
The forex market is the biggest market in the world with trillions of dollars changing hands everyday. This truly is the most fluid and liquid marketplace on earth. This market trades 24 hours a day, 6 1/2 days a week and it is traded by every major bank in the world.
Read full article... Read full article...
Wednesday, December 17, 2008
The Great Crash of U.S. Dollar Begins Following Record Low Interest Rate / Currencies / Forex Trading
By: ForexPros
The USD started a bit better overnight but began to fall off as traders trimmed long positions ahead of today’s economic news. This morning’s CPI and Housing data was mixed for traders as lower CPI was offset by weaker housing data; the majors began a steady climb into the FOMC rate announcement which of course was the big news of the day. In a surprise move, the FOMC voted unanimously to cut rates a larger than expected 75 BP putting the FF rate at .25% and announcing to the world that the USD is now the cheapest currency on the planet. Read full article... Read full article...
Tuesday, December 16, 2008
U.S. Dollar Slides Ahead of FOMC Interest Rate Cut Meeting / Currencies / Forex Trading
By: ForexPros
The USD remains under pressure to end Monday as several technical levels fail putting the majors on the offensive into tomorrows’ FOMC meeting. Analysts remain optimistic for a 50 BP cut in rates adding a bit of weight to current USD sentiment. At this point the USD remains the worlds’ number 2 low-yielding currency with only the Yen providing less. With year-end repatriation into higher-yielding currencies as traders square-books with only a few solid trading days to go into year-end the USD appears likely to suffer more losses this week. Read full article... Read full article...
Monday, December 15, 2008
U.S. Dollar Topping Action Intensifies, Sell Dollars into Strength / Currencies / Forex Trading
By: ForexPros
The USD opens the week on a softer note and remains under light pressure at the start of New York trade. Overnight action was subdued with most of the action contained in Yen cross spreads after the release of Japan’s Tankan report; traders note that the report was very soft and below forecasts prompting some analysts to expect the BOJ to cut interest rates at some point soon. With rates at .3% from the BOJ it is difficult to expect that a rate cut would help much as the bank has held effectively a zero-rate policy since the 1990’s; USD/JPY is lower at 90.74 with highs at 91.37 and lows at 90.47 making for an inside range day with lower two-way action. Traders report bid interest on the dip to 90.50 area likely from option defense and profit-taking from shorts. Additionally, EURO/JPY was firmer after the Tankan report which helped to support USD/JPY. Read full article... Read full article...
Wednesday, December 10, 2008
U.S. Dollar Under Pressure / Currencies / Forex Trading
By: ForexPros
It was a disappointing day today for equities traders as the follow-on buying seen overnight failed to inspire traders in New York today; the DJIA shed over 200 points near the end of the day putting pressure on USD bears. Crude oil lost over $1.50/BBL as well putting conflicting fundamentals in play for equities traders. The net result for traders in the majors was solid two-way whipsaw over the course of New York trade; EURO rallying to post a nine-day high at 1.3002 looking very much like a test of the resting stops rumored to be at the 1.3030 area untouched before dropping back as equities gave back recent gains. Read full article... Read full article...
Tuesday, December 09, 2008
U.S. Dollar Weakens Amidst Signs of Easing Credit Crisis / Currencies / Forex Trading
By: ForexPros
Higher equities on follow-on strength from overnight positive stock prices helped to lift the majors against the USD with most pairs setting new highs against the Greenback in late trade. GBP regained the 1.4900 handle but still off the Asian highs of 1.5051 in New York; traders note that spillover strength from EURO is helping to hold GBP firmer. Additionally, cross-spreaders continued to buy Sterling on the crosses also bringing the upside in focus. Today’s close over the 1.4940 area is the highest close in six days suggesting a near-term bottom may be forming in that rate. Read full article... Read full article...
Monday, December 08, 2008
U.S. Dollar Two Way Action Following Interest Rate Cuts / Currencies / Forex Trading
By: ForexPros
The USD is lower to start New York after a quiet steady open in Asia overnight; traders note trading was subdued in early trade but appetite for the Yen crosses finally began to push the USD lower. Technical trade was the rule as no real unexpected news was released . Falling back from Friday’s highs the Greenback failed at several key technical support levels across all major pairs to start the week on the defensive. Equities were higher across the board with all major bourses in the black by several percent helping to support their respective currencies. Read full article... Read full article...
Wednesday, December 03, 2008
U.S. Dollar Continues to Consolidate Ahead of Non Farm Payrolls / Currencies / Forex Trading
By: ForexPros
Despite a weaker open and a test of near-term S/R the USD has recovered to post highs against some pairs as intraday volatility continues. Equities faded into the middle of the day unable to hold early gains helping to push the majors to lower prices in two-way volatility. Crude giving up gains also was a factor for lower EURO pricing traders say but for the most part the majors are struggling to hold support against negative sentiment as traders continue to wait for signs that the financial crisis is mitigating. Read full article... Read full article...
Tuesday, December 02, 2008
US Dollar Strength Likely to Stall Due to Dismal Fundamentals / Currencies / Forex Trading
By: ForexPros
Falling equities, weaker US economic data and fear of larger than expected rate cuts by the ECB and the ECB later this week kept the pressure on the majors today as GBP, EURO, Swissy and CAD gave back recent gains. Traders note stops were part of today’s trade but thin conditions remained a contributing factor likely making the moves a bit bigger than would normally be the case. Read full article... Read full article...
Monday, December 01, 2008
US Dollar Strong on Seasonal Tendencies / Currencies / Forex Trading
By: ForexPros
The USD is mixed in early New York after trading two-way and technical during the holiday shortened week. Traders note that a weak start to the week in Gold and Crude Oil is helping to support the USD overnight. Traders note the USD is holding roughly within existing ranges but that some stops were noted as the EURO and GBP crossed last weeks’ opening range suggesting some technical trading continues in two-way action.Poor UK economic data pressured GBP in overnight action pushing the rate to a low print of 1.5010 in late European trade; traders note stops on a break of the 1.5120 area in size. Read full article... Read full article...
Wednesday, November 26, 2008
U.S. Dollar Continues to Sketch in a Significant Top / Currencies / Forex Trading
By: ForexPros
The USD continued to slide today after the release of benign US Q3 GDP estimates; traders note that early USD strength was stop-driven on low volume suggesting that the Greenback is running out of committed buyers as we head into a holiday shortened week. Analysts remind that year-end book-squaring will likely add a bit of pressure to the USD and technical factors are not positive after the turnaround seen the past 72 hours or so. Read full article... Read full article...
Tuesday, November 25, 2008
U.S. Fed's Quantitative Easing Extends Dollar Seasonal Reversals / Currencies / Forex Trading
By: Ashraf_Laidi
Today's latest liquidity drive from the Federal Reserve gives a fresh jolt to risk-seeking trades, extending my scenario of seasonal reversals in currency and commodity markets put forth last week , typical of the last 5-6 weeks of the calendar year, whereby markets reverse the flows prevailing in Sept and Oct. In this case, the lower yielding dollar and yen sustain fresh damage, reversing the gains posted in Oct and Sept. Such reversal is seen prolonged into mid December. Read full article... Read full article...