Forex Market Updates & Commentary |  |
- USDCAD remains between the “goal posts”. 1.0398 resistance. 1.0313 support
- With little direction, stocks take charge. Lower opening pushes $EURUSD lower/dollar higher.
- Oct 19th 2009 Forex Market Update
- Next FXDD Online Training - Oct 20th 2009 4pm
- USDCHF moves lower. Weak dollar better Swiss economy cited.
- Bobbys Corner-Open Market-Oct.19.2009
- $EURUSD trading near highs for day but confined by Thursday/Fridays high. Watch 1.4893/95 for support
- RBA Assistant Governor Lowe Speaks in Sydney
- BOJ’s Shirakawa on the Wire
- BOJ Monetary Policy Minutes
- Japan’s Tertiary Industry Index
- UK Rightmove House Prices
| USDCAD remains between the “goal posts”. 1.0398 resistance. 1.0313 support Posted: 19 Oct 2009 07:04 AM PDT
The USDCAD has been trending lower as oil increased and better unemployment statistics also helped the economy. The price however, has been consolidating over the last 3 days since bottoming on Thursday. The correction has taken the pair up to test the 200 bar MA. The current price is testing this level for the second time today. A move above the 200 hour MA at the 1.0398 level should target higher levels with 1.0506 being the next target for the pair (38.2% retracement level of the move down). If the price can not break, a move back toward the 100 hour MA is likely. That level currently comes in at the 1.0313 level. |
| With little direction, stocks take charge. Lower opening pushes $EURUSD lower/dollar higher. Posted: 19 Oct 2009 06:34 AM PDT
The stock market has opened a little weaker than expectations and that has pressured the currencies/strengthened the dollar a bit. The EURUSD has moved below the 100 bar MA on the 5 minute chart at the 1.4922 level and appproaches support at the 200 bar MA at the 1.4898 level and the close from Friday at 1.4893. A break below this level will target 1.4876. |
| Oct 19th 2009 Forex Market Update Posted: 19 Oct 2009 06:30 AM PDT Click here to view the embedded video. The monring is off to a quiet start in NY as the market awaits direction from stocks. |
| Next FXDD Online Training - Oct 20th 2009 4pm Posted: 19 Oct 2009 06:29 AM PDT Our next FXDD Online Training will be Tuesday Oct 20th 2009 at 4pm. Greg Michalowski & Shawn Powell invites you to participate as an attendee in the following online training session: Topic: FXDD Online Training Oct 20th 2009 4pm ——————————————————- Once you are approved by the host, you will receive a confirmation email with instructions for joining the session. To view in other time zones or languages, please click the link ——————————————————- |
| USDCHF moves lower. Weak dollar better Swiss economy cited. Posted: 19 Oct 2009 05:35 AM PDT
The USDCHF and the EURCHF fell overnight as feeling the Swiss economy is in better shape than the US (and other European counterparts) boosted the Swiss Franc. Before the fall, the USDCHF did initially rise from Friday’s closing level of 1.0188. The high reached 1.0228. This was above the 100 hour MA but the price could not test the 200 bar MA at 1.0240. This disappointed the early bulls and the move down started. The price broke through the 100 hour MA at the 1.0184 (remember 1.0188 was also the low for 2009 until last week) and the momentum to the downside accelerated. The price decline moved to a low of 1.0125 which was just below the low from Friday at 1.0129. In this case, there should have been further downside momentum to the downside. When it did not materialize, the price rebounded.
From a technical intraday basis, the 100 bar moving average on the 5 minute chart comes in at 1.0158 level. Watch this level to provide initial resistance. Above that level look for 1.0176 to contain the topside (50% of the days range and the current 100 hour MA).
On the downside, the low from Friday was 1.0129. The low today was 1.0125. The 2009 low was 1.0117. All should cause some profit taking with a break ultimately targeting the 1.0010 area where trendline support and lows from July 2008 come in. |
| Bobbys Corner-Open Market-Oct.19.2009 Posted: 19 Oct 2009 05:20 AM PDT
The USD weakened overnight as the Aussie and Kiwi led the charge. The EUR/USD pair moved to 1.4954, and has since eased back to the 1.4920 range. Worldwide equities rose, and currencies from commodity producing countries rose as investors looked for higher returns as corporate earning are showing signs of improvement. US Futures are pointing to a higher opening later this morning. Commodities were higher this morning led by oil and copper. Oil$ 78.42 Gold:$1055.80 |
| Posted: 19 Oct 2009 05:01 AM PDT
The EURUSD moved to the lowest level since last Tuesday, reaching a low of 1.4828. The move higher than exteneded up to a high of 1.4954 but this stayed below the double top for the pair reached on Thursday and Friday at 1.4967. The close from Friday was at 1.4893, and this level we will watch as support in what may be a quiet Monday trade. This is also close to the 100 hour moving average which comes in at the 1.4895 level currently (and rising). Look for buyers against these levels with sellers on moves below. Topside will need to surpass the double top at the 1.4967 level.
For a shorter term trade opportunity, the price has been above the 100 bar MA on the 5 minute chart since in the early London hours. With the market consolidating over the last few hours, the moving average has started to converge on the price. The current 100 bar MA on the chart comes in at the 1.4914 level. Look for some support buying against the level. A break below targets the 1.4893-95 area. |
| RBA Assistant Governor Lowe Speaks in Sydney Posted: 18 Oct 2009 07:05 PM PDT The markets had a limited reaction to the following comments from RBA assistant governor Lowe as he spoke in Sydney:
|
| Posted: 18 Oct 2009 06:00 PM PDT The BOJ’s Shirakawa had the following comments speaking at the BOJ’s regional managers’ meeting and the Yen and USD continued their bid to open the trading weak.
|
| Posted: 18 Oct 2009 05:07 PM PDT The BOJ Monetary Policy Meeting Minutes contained the following highlights, the Yen gained a mild bid across the board:
|
| Japan’s Tertiary Industry Index Posted: 18 Oct 2009 04:55 PM PDT Japan’s Tertiary Industry Index for August expected at 0.1% came in better at 0.3%, but worse than the July release of 0.6%. The market had a limited reaction as the USD/JPY pair is trading around the 91 handle as it’s supported by the 21 hr moving average to start the trading week.
|
| Posted: 18 Oct 2009 04:24 PM PDT The UK’s Rightmove House Prices indicator came in significantly better than the prior month, giving the Sterling and other risk currencies the bid against the USD, moving off early session lows. The release was as follows. Rightmove House Prices (MoM) - Actual:2.8% Prior:0.6% Rightmove House Prices (YoY) - Actual:0.2% Prior:-1.5% Below we see the Pound move of its lows as it gapped lower on the open and now sits on the 5-100 minute moving average after pulling back on the initial bid following the release.
|
Good Morning:
| You are subscribed to email updates from Forex News and Commentary by FXDD To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google Inc., 20 West Kinzie, Chicago IL USA 60610 | |
No comments:
Post a Comment