Analysis Topic: Currency Market Analysis
The analysis published under this topic are as follows.
Friday, September 25, 2009
British Pound Undermined by the Bank of England, Sterling Bear Market Resumes / Currencies / British Pound
By: Nadeem_Walayat
The Bank of England and Mervyn King's recent announcements in the mainstream press have clearly been aimed at sending the markets a signal that official policy favours a weak currency so as to support the economic recovery by boosting the export sector. The reaction in the markets was for a swift drop in the exchange rate across all major currencies and most notably against the Euro which triggered a fall of over 8% from the recent high of 1.20 to below 1.10
Thursday, September 24, 2009
U.S. Dollar Up While Crude Oil Slips / Currencies / US Dollar
By: Mike_Paulenoff
Ok... which is the chicken, and which is the egg? To find a starting point, let's look at the key timeframe during the major market turns that occurred duing Feb. and March 2009. Crude Oil prices hit a low (with equity prices) at $44.01, while at the same time risk averse investors finally bought enough dollars (from Dec, 2008) in their acute flight to safety. Since then, equity and oil prices have climbed sharply, while the daily Dollar index (DXY) gave up all of its panic flight to safety gains in what looks like a panic back into riskier assets-- perhaps until recently. In the case of oil and the US Oil Fund ETF (USO), prices actually peaked in June, at which time they went into a contracting coil pattern that appears to have ended yesterday with a resolution to the dowside.
Thursday, September 24, 2009
How to Get Rich Trading Forex- Video / Currencies / Forex Trading
By: INO
I'm not going to say a lot about this new video, but I recommend that you watch it. It's an eye-opener.
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Thursday, September 24, 2009
Euro Drops to Support After Fed Statement Boosts U.S. Dollar / Currencies / Forex Trading
By: ForexPros
As all other majors, the Euro dropped significantly after the Fed, and went back to 1.4685, but it stood its ground and spent the whole Asian session above 1.47. This return could provide us with the chance to retest the falling and broken trendline, inside the rising channel, which is currently at 1.4646, which is the support of the day.Read full article... Read full article...
Wednesday, September 23, 2009
New Deadly U.S. Dollar Carry Trade / Currencies / US Dollar
By: Jim_Willie_CB
A powerful hidden engine existed for close to 20 years called the Yen Carry Trade. The engine produced tainted trillion$ for its priviliged participants, whose access to cheap money was assured and whose control of government policy was tight. The engine served two important purposes. It kept the Japanese Yen currency exchange rate low, sufficient for maintaining the export juggernaut that sent products around global supply routes with names like Toyota, Honda, Komatsu, Mitsubishi, Nikon, Toshiba, and Fuji for a string of years. It also supplied a torrent of funds to feed both the Japanese and Western (think US, UK, Europe) financial markets its most important channel in existence.
Wednesday, September 23, 2009
Euro Reaches New High Against U.S. Dollar for 2009 / Currencies / Futures Trading
By: ForexPros
As expected, the Euro reached 1.48 for the first time this year, and also reached the first target suggested in yesterday's report, which leaves the second target 1.4901 ahead of us, could we see it today? The current advance is still climbing (slowly we might add) without showing exhaustion, and the top of the current channel is at 1.49, these thing support the probability of going up. On the other hand, a divergence case on the RSI is developing as we speak, supporting the opposite scenario.Read full article... Read full article...
Tuesday, September 22, 2009
Strong Euro Dollar Bounces off Support / Currencies / Forex Trading
By: ForexPros
The Euro held around the secondary Fibonacci support of 23.6%, which is in the 1.4620 area, and went back up to above 1.47. The "limited" move of yesterday had "limited" effect. We have re-drawn the channel, to make it comprehensive, and to include all the price behavior since the beginning of the month.
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Monday, September 21, 2009
EUR/GBP Bulls Bolstered By Break of 88.00 Barrier / Currencies / Forex Trading
By: Seven_Days_Ahead
Bulls in EUR/GBP have taken their time to emerge, much of Jun/Jul/Aug marked by a consolidation phase. We had tended towards a positive resolution of this, and there is scope for this cross rate to move higher shorter term.
Monday, September 21, 2009
Euro Dollar at Important Support Level / Currencies / Forex Trading
By: ForexPros
The Euro is approaching at this very moment the bottom of the rising channel on the hourly chart, and in the same area we noticed an intraday support that has shown itself several times lately, which adds more importance to this level. Reaching this area is the most important test for the EURUSD since reaching 1.4766 last Thursday.Read full article... Read full article...
Saturday, September 19, 2009
U.S. Dollar Imminent Upside Reversal? / Currencies / US Dollar
By: Sy_Harding
The U.S. dollar fell to a 12-month low against most major currencies on Thursday, with by far the majority of currency traders believing it will continue its freefall. And on the fundamentals, the dollar doesn’t seem to have much going for it to reverse the trend.
Friday, September 18, 2009
U.S. Dollar Index, The Trend Is Your Friend / Currencies / US Dollar
By: Guy_Lerner
In identifying the Dollar Index (symbol: $DXY) as the key asset class to watch, I relied upon two strategies for guidance to make the call on June 19, 2009 that that this was a "Very Dangerous Time For The Dollar Index". So far, things are working out as expected.
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Thursday, September 17, 2009
Buy the U.S. Dollar / Currencies / US Dollar
By: Anthony_Cherniawski
Whatever happened to the Yen carry trade?
Japanese overnight interest rates are still lower that the U.S. (10 basis points versus 25 basis points). However, the three month Libor rates show that it has been cheaper to borrow dollars rather than yen. In addition, the yen has been appreciating against the dollar since 2002. So those having to buy back yen (to unwind a carry trade) have had the extra burden of currency appreciation working against them.
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Thursday, September 17, 2009
Euro Dollar Breaks Through Resistance Signaling Powerful Uptrend / Currencies / Forex Trading
By: ForexPros
The euro broke above the rising trend channel for the first time, reaching a new high for this year at 1.4746, and leaving any expectation for a correction to start in these areas, in very bad shape. A break to the upside in a rising channel is usually a signal that shows how powerful the uptrend is, which makes it only logical to expect more gains for the European single currency.Read full article... Read full article...
Wednesday, September 16, 2009
US Dollar USD Index Important September Update / Currencies / US Dollar
By: INO
My wife and I just got back from cruising the Maine coastline and we were blessed with great weather and calm seas. When I got back to my summer home and had access once again to the internet, I immediately started looking through the MarketClub charts. It was then that I realized that it has been sometime since I last did a video on the Dollar Index.
Wednesday, September 16, 2009
Euro Dollar Hits Resistnce Topping Area / Currencies / Futures Trading
By: ForexPros
Reaching the top of the channel at 1.4684, but not breaking it, the Euro is still inside the suggested area for a top. The top of the channel is slowly approaching 1.47, more accurately it is currently at 1.4691. And between here and 1.4720 we have a good resistance that can curb this slow rise. If this happens, we will break 1.4654 and head towards the short-term 61.8% Fibonacci support at 1.4607, which the euro needs to hold above to survive the expected correction.Read full article... Read full article...
Tuesday, September 15, 2009
Euro Dollar Continues Top Making Formation / Currencies / Forex Trading
By: ForexPros
The Euro held above the suggested support 1.4501 and rallied to a new top for this trend at 1.4650, which is still inside the suggested area for a top. The top of the channel is currently at 1.4682 and this will be a curtail resistance, that could stop the current rise and force a correction of good size.Read full article... Read full article...
Monday, September 14, 2009
U.S. Dollar Entering Free Fall Crash Territory / Currencies / US Dollar
By: Larry_Edelson
Martin’s off this week. So I’m writing you today from Asia with a passionate plea to our country — to its citizens and especially to our leaders in Washington.
We are now the laughing stock of Asia. Our dollars are no longer respected; our ambitions, no longer mimicked.
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Monday, September 14, 2009
Euro Dollar Corrects After Hitting Resistance / Currencies / Forex Trading
By: ForexPros
As we have expected, the rise stopped between 1.4620 & 1.4667, and from there we have seen a correction that reached 1.4515 until this very moment. We still believe that this correction is targeting 1.4459 at the very least, and that it could go all the way to 1.4357. But, before we feel over-excited for this correction we should see a break of short-term support 1.4501, and after that we can talk about the ideal targets such as 1.4459, 1.4408, or 1.4357.Read full article... Read full article...
Saturday, September 12, 2009
Governments Competing to Keep Their Currencies Weak / Currencies / Fiat Currency
By: Bryan_Rich
Many governments are warning about the risks that may undermine economic recovery. And a lot of that concern is surrounding the value of their currency.
Since March, most currencies have risen sharply against the U.S. dollar. As investor appetite for risk has progressively improved, there has been less demand for the safe haven value of holding dollars and more demand for higher risk/higher return foreign currency denominated investments.
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Saturday, September 12, 2009
Unusual Currency Market Action as U.S. Dollar Damage Results in Yen Strength / Currencies / Forex Trading
By: Ashraf_Laidi
Current price action in currencies may be sending some interesting signals. Broad dollar damage is being accompanied by broad yen strength, which is an unusual pattern when risk appetite is on the rise. This suggests that dollar weakness is not necessarily a reflection of improved risk appetite but of secular weakness in the greenback (as a result of Chinese gold purchases and most importantly hedge funds testing key dollar support levels vs. EUR (1.4620) GBP (1.67) and AUD (0.8640-50s).