Monday, October 4, 2010

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

Next Forex Trading Webinar Tuesday October 5th

Posted: 01 Oct 2010 12:30 PM PDT

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Greg and I will be teaching the webinar on Tuesday October 5th at 4pm New York Time, 20:00gmt. Here is the link to register

USD/CAD breaks from the bottom of long term formation

Posted: 01 Oct 2010 09:58 AM PDT

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USD/CAD breaks from the bottom of long term formation as seen here on the hourly chart. The break level is 1.0235. The next potential targets on the downside will be 1.0205, 1.0119 and par. If the pair fails to move lower, a bounce may push the pair back up to 1.0269. 1.0290-93 (200H, 100H moving averages) and 1.0348 levels of resistance

USD/JPY tests the 83.15 floor as Europe prepares to go home

Posted: 01 Oct 2010 08:00 AM PDT

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The USD/JPY is currently testing the 83.15 floor as Europe prepares to go home for the weekend. The pair has been repeatly testing 83.15 for the past two days and it appears that the markets are looking to see if the floor will hold. With the pair testing all time lows, the next level down will be seen around 82.87. On the topside the USD/JPY has been confined by a somewhat predictable channel near 83.45, 83.55 and 83.73 (200H moving average) in the near term
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