Forex Market Updates & Commentary

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• EURUSD tests 100 month MA
• Surprise, surprise. They said something about technicals on CNBC
• Uh oh! USDCAD bounces off Friday’s low. A break is needed to keep the bears in charge
• EURJPY showing some bullish tendencies. Risk defined.
• Forex Morning Report- Sept 13
• Geithner on the newswires
• EURUSD resumes upside move. 1.2833 and then 1.2854 the next targets
• Bobbys Corner-Open Market-Sept.13.2010
• NY Opening Forex Commentary: Mixed market conditions as market digests weekend banking news
• EU raises 2010 Eurozone GDP growth forecast to 1.7% from 0.9%
• Swiss PPI
• 9-13 Economic Calendar
• Forex Webinar Tuesday Sept 14th with Greg and Shawn
• How to attend an FXDD webinar
• Euro Pushes Higher on Basel III

EURUSD tests 100 month MA Posted: 13 Sep 2010 07:21 AM PDT The EURUSD inches higher as it targets the 1.2854 level next, but also in the way is the 100 month MA which comes in at 1.2839. This level is currently being breached on the upside and if the market can stay above, will be another notch for the bulls (thanks to John Ferguson for the heads up).

Surprise, surprise. They said something about technicals on CNBC Posted: 13 Sep 2010 07:09 AM PDT …And the Moving averages they referenced?  The 100 and 200 day SMA.  The S&P 200 day MA is at the 1115.71 today. A close above would be bullish.

Uh oh! USDCAD bounces off Friday’s low. A break is needed to keep the bears in charge Posted: 13 Sep 2010 06:50 AM PDT Friday’s low was 1.0279. Today’s low is 1.0279. Buyers also have the channel trendline at 1.0271 giving risk conscience traders a second reason to buy on dips. A break below 1.0270 should lead to further downside pressure with 1.0205 the next key target, but until then the low risk dip buyers may keep the price supported. A move above the 1.0306 level (100 bar MA on the 5 minute chart), would open up a further move to the upside for the pair.

EURJPY showing some bullish tendencies. Risk defined. Posted: 13 Sep 2010 06:39 AM PDT EURJPY has been pressured down with the strength of the JPY and Eurozone worries. The pair has some small bullish signs that could signal a positive/bullish bias. The low last week was higher than the low in August. The price moved above the 100 and 200 hour MA today. The price is in a two day up channel. If the technical levels can hold and momentum maintained, the pair has room to run to the upside. Al is dependent on holding key technical support. For a review, click on the following link.

Forex Morning Report- Sept 13 Posted: 13 Sep 2010 06:25 AM PDT Forex Morning Report- Sept 13

Geithner on the newswires Posted: 13 Sep 2010 06:20 AM PDT Small business bill would cut taxes and spur employment Rebuilding US infrastructure is good economic policy Economy coming out of the hole Congress should move quickly to extend tax cuts

EURUSD resumes upside move. 1.2833 and then 1.2854 the next targets Posted: 13 Sep 2010 05:53 AM PDT

Bobbys Corner-Open Market-Sept.13.2010 Posted: 13 Sep 2010 05:43 AM PDT Good Morning: I have returned from a few days of holiday with my family.  Very nice and relaxing-just what a few days off should do. The JPY and USD fell as risk entered the marketplace.  Chinese economic data was better than expected, indicating that the world’s second largest economy is running on full steam.  Comments from Europe that the banks will have up to 8 years to build up capital and adjust their business model if needed also added to the return of risk to the markets. Stocks rose, and US futures are also pointing to a positive opening this morning. Deutsche Postbank lost ground after Deutsche Bank offered up to 25 euros, as they try to take full control of Postbank.  Oil rose, and Gold also rose. Oil:$77.10                                                     Gold:$1245.00 NO MAJOR DATA DUE OUT  TODAY. HAVE A GREAT DAY & GOOD LUCK

NY Opening Forex Commentary: Mixed market conditions as market digests weekend banking news Posted: 13 Sep 2010 05:15 AM PDT

EU raises 2010 Eurozone GDP growth forecast to 1.7% from 0.9% Posted: 13 Sep 2010 02:02 AM PDT Eur/Usd up about 10 points since release, currently at 1.2819.

Swiss PPI Posted: 13 Sep 2010 12:18 AM PDT Swiss PPI m/m came in at 0.1%, stronger than the -0.3% expected. Usd/Chf and Eur/Chf both are up marginally trading at 1.0155 and 1.3015 respectively.

9-13 Economic Calendar Posted: 12 Sep 2010 09:33 PM PDT

Forex Webinar Tuesday Sept 14th with Greg and Shawn Posted: 12 Sep 2010 07:56 PM PDT Join us for an FXDD Trading Webinar on Tuesday Sept 14th with Greg Michalowski and Shawn Powell. The class takes place online at 4pm est/ 21:00 gmt world time. Register here

How to attend an FXDD webinar Posted: 12 Sep 2010 07:50 PM PDT How to attend an FXDD webinar

Euro Pushes Higher on Basel III Posted: 12 Sep 2010 06:03 PM PDT The Euro is bid across the board on the back of the ‘landmark agreement’ - Basel III where regulatory minimums capital standards for banks was reached, protecting against any future financial shocks. On the EUR/JPY pair we saw a jump to the 50% retracement of last weeks move, where the pair also crossed the 4-100hr moving average. A sustained risk rally could carry the pair toward last week’s highs.

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