Forex Market Updates & Commentary

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• FXDD Webinar Tuesday Sept 21 with Greg & Shawn
• NAHB Housing Market index unchanged from last month
• EURJPY fails to extend on new low break, and buyers re-emerge
• EURUSD finds buyers against the 100 hour MA
• NY Morning Forex Commentary is available for viewing
• EURUSD rotates back down. Range extension eyed
• Canada Wholesale Sales come in weaker than expected
• Canada Wholesale Sales due out at 8:30 AM
• Bobbys Corner-Open Market-Sept.20.2010
• NY Opening Forex Commentary: EURUSD, AUDUSD up. GBPUSD and USDCHF down
• Gbp/Usd testing 100 hour M/A to downside
• UK Mortgage Approvals lowest in 16 months
• Eur/Usd ticking higher
• 9-20 Economic Calendar
• The Weekend Forex Technical Review for the major currency pairs

FXDD Webinar Tuesday Sept 21 with Greg & Shawn Posted: 20 Sep 2010 07:15 AM PDT Next FXDD Webinar Tuesday Sept 21st at 4pm / 20:00gmt world time with Greg Michalowski and Shawn Powell. Do you have fear when you place trades? Do you take on too much risk? Do you know where to place stops and limits? Join us for a solid hour of trading education Tuesday afternoon - Register here

NAHB Housing Market index unchanged from last month Posted: 20 Sep 2010 07:04 AM PDT A minor home index was released with the NAHB housing index. This index stayed unchanged at 13.  The component pieces were also unchanged from prior month with the exception of the Prospective Buyers Traffic which dipped to 9 from 10 last month Housing Market Index              13   vs  13  last month     Single family sales: Present      13   vs  13  last month   Single family sales: Future       18  vs   18  last month   Prospective Buyers Traffic         9  vs   10  last month

EURJPY fails to extend on new low break, and buyers re-emerge Posted: 20 Sep 2010 06:54 AM PDT

EURUSD finds buyers against the 100 hour MA Posted: 20 Sep 2010 06:32 AM PDT The EURUSD found buyers against the 100 hour MA in the NY trade this morning. The range may be set for the day as the market awaits the FOMC decision tomorrow. Look for buyers on dips against a stop below the 100 hour MA at 1.3029 level.

NY Morning Forex Commentary is available for viewing Posted: 20 Sep 2010 06:17 AM PDT

EURUSD rotates back down. Range extension eyed Posted: 20 Sep 2010 05:54 AM PDT

Canada Wholesale Sales come in weaker than expected Posted: 20 Sep 2010 05:41 AM PDT They fall by -0.1% which is weaker than expectations. The USDCAD has rallied off the news. The price approaches the high for the day at 1.0345. Friday’s high was 1.0349. A move above the level will next target the 1.0361 level.

Canada Wholesale Sales due out at 8:30 AM Posted: 20 Sep 2010 05:24 AM PDT

Bobbys Corner-Open Market-Sept.20.2010 Posted: 20 Sep 2010 05:17 AM PDT Good Morning: The USD continued to stay weak as we start a new trading week. Today-we have US data on confidence among US home-builders.  Estimates that the index will stay at a 17 month low is giving markets participants renewed evidence that the US economic recovery continues to stumble. The USD also lost ground as investors speculate that after tomorrow’s FOMC meeting the Fed will be looking for further ways to keep interest rates low.  As the economy continues to move forward at an anemic pace-the Fed will need to continue with it’s present policy of keeping borrowing costs low, along with additional measures to spur on the economic recovery. Equity markets were higher (Tokyo closed last night for elders day) .  US Futures are also pointing to a higher opening this morning. Gold rallied to a new record high, and cotton reached a 15 year high. Oil:$73.59                                               Gold:$1282.20 TIME FOR EST. PRIOR 10:00A.M. NAHB HOUSING MARKET INDEX  SEPT. 14.O 13.O HAVE A GREAT DAY & GOOD LUCK

NY Opening Forex Commentary: EURUSD, AUDUSD up. GBPUSD and USDCHF down Posted: 20 Sep 2010 04:40 AM PDT

Gbp/Usd testing 100 hour M/A to downside Posted: 20 Sep 2010 02:32 AM PDT Gbp/Usd is threatening to break below its 100 hour M/A of 1.5584. For added support the 38.2% fibo of move up from 1.5346 to 1.5742 lies at 1.5581. The pair may be hard pressed to break through this first time down. If it does 1.5535-40 would be next support area. If the pair hold a move back to 1.5640-45 is likely.

UK Mortgage Approvals lowest in 16 months Posted: 20 Sep 2010 01:34 AM PDT UK Mortgage Approvals came in at 45,000, weake rthan the 46,000 expected and prior reading of 47,000. This is the lowest reading in 16 months. Gbp/Usd is off on the heels of news, currently trading at 1.5620. Eur/Gbp is at session high of .8386.

Eur/Usd ticking higher Posted: 20 Sep 2010 12:22 AM PDT Eur/Usd has been ticking higher in recent trade. A look at the daily chart for the pair shows it is firmly above the 61.8% fibo retracement (1.2992) of move down from 1.3691 to 1.1861. The next level of daily resistance comes at the 200 day M/A of 1.3228. A test seems likely. The aforementioned 61.8% level of 1.2992 should act as support to the downside.

9-20 Economic Calendar Posted: 19 Sep 2010 10:10 PM PDT

The Weekend Forex Technical Review for the major currency pairs Posted: 19 Sep 2010 07:23 AM PDT In the report the EURUSD, GBPUSD, USDJPY, USDCHF, USDCAD, EURJPY, and AUDUSD are covered. Key support and resistance levels are shown as the new week begins.

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