Forex Market Updates & Commentary

Preview of the key technical levels for the new trading week
US Consumer Credit Figures Improve
Preview of Key Economic Events and Releases for August 9th week
US Consumer Credit Data at 3PM
Forex Midday Report- August 6th
EURUSD corrects to support as London/Europe exit for the weekend
USDCAD rotates back higher as choppy up and down trading prevails
EURUSD steps higher and higher. 1.3361 next target with support against 1.3282
FXDD Webinar with Greg and Shawn August 10 2010

Preview of the key technical levels for the new trading week

Posted: 06 Aug 2010 01:15 PM PDT

This end of week report takes a look at the bias for the major currency pairs and outlines the key technical levels to watch as the new week begins on Sunday.

US Consumer Credit Figures Improve

Posted: 06 Aug 2010 12:04 PM PDT

Consumer credit comes in at -1.3B Vs. a projected -5.3B, with a revised -5.3B and the prior figure being -9.1B

Preview of Key Economic Events and Releases for August 9th week

Posted: 06 Aug 2010 11:58 AM PDT

US Consumer Credit Data at 3PM

Posted: 06 Aug 2010 11:20 AM PDT

Forex Midday Report- August 6th

Posted: 06 Aug 2010 09:27 AM PDT

Forex Midday Report- August 6th

EURUSD corrects to support as London/Europe exit for the weekend

Posted: 06 Aug 2010 08:16 AM PDT

USDCAD rotates back higher as choppy up and down trading prevails

Posted: 06 Aug 2010 07:42 AM PDT

fxdd-pic-0786

As mentioned in the previous video (CLICK HERE) post the USDCAD has been fighting the weak US employment data, and the weak Canadian employment data today. The market moved above the 100 hour MA at the 1.0201 level, moved toward the 200 hour MA at the 1.0266 level but found sellers against this level. The rotation back down stopped again at support and the subsequent move is back up at the 200 hour MA.

This action is the market saying “I don’t know which way to go…yet”.

Eventually, the market will make a break or should make a break. Traders who bought the low against the 1.0201 level are in control, but don’t be surprised to see some profit taking as the week comes to a close and weak report +weak report = neutral bias. However, a break should see momentum in the direction of the break and the USDCAD is near a low on a trend move lower and back above key 1.0205 level. Upside resistance at 1.0287 and 1.03435. A break below 1.0201-05 leads to 1.0173.

EURUSD steps higher and higher. 1.3361 next target with support against 1.3282

Posted: 06 Aug 2010 07:25 AM PDT

FXDD Webinar with Greg and Shawn August 10 2010

Posted: 06 Aug 2010 07:24 AM PDT