Forex Market Updates & Commentary |  |
- USDCHF moves sharply higher. No talk of intervention, just pent up stops
- EURUSD in Non-Trending Phase. Watch chart extremes. Be aware
- Forex Morning Report- Oct 13
- EURUSD breaks below 200 bar MA on 5 minute
- Rebroadcast of Forex Trading Webinar Oct 12 2010
- GBPUSD tests intraday support at 38.2% Fibo. Stay above and bullish. Below bearish
- Canada Housing Numbers Better
- US Import Price Index Falls
- US Import Price Index Data at 8:30AM
- Canada New House Price Index 8:30AM Release
- Bobbys Corner-Open Market-Oct.13.2010
- NY Opening Forex Commentary:EURO diverges from the rest
- Eurozone Ind Production (m/m) and UK CB Leading Index
- Aussie Having Trouble Breaking .98871
- UK Unemployment Slightly Better at 7.7%
| USDCHF moves sharply higher. No talk of intervention, just pent up stops Posted: 13 Oct 2010 06:54 AM PDT
The narrow trading range for the USDCHF today (0.9543 to 0.9586) was broken and the USDCHF exploded higher. The price moved through the 100 hour MA at the 0.9624 level. Now corrective moves down will need to hold the 38.2% retracement at the 0.9605 level to keep the bullish interest for the pair in tact.
The next upside resistance comes in at the 200 hour MA at the 0.9660 level (green line in the hourly chart above). There does not seem to be any intervention…just pent up buys on the break. |
| EURUSD in Non-Trending Phase. Watch chart extremes. Be aware Posted: 13 Oct 2010 06:31 AM PDT The move higher on the back of the ECB Axel Weber comments yesterday (stop bond purchases now), has seemed to find its limits. Although the comments were certainly bullish, they might not be shared by the full EU membership. For example, France today is balking at the calls for sanctions against the debtor countries. The EURUSD has moved lower in NY trade, and with the selling above against the high from Monday at 1.4011/high from last week at 1.4028/underside of the trend channel at 1.4009 it suggests to me that the market is in a non-trending phase for the pair. During this phase the market can be expected to move up and down, but I would also expect that seller will appear near the highs and buyers near the low levels. For a full review, click on the following link |
| Posted: 13 Oct 2010 06:29 AM PDT Forex Morning Report- Oct 13 |
| EURUSD breaks below 200 bar MA on 5 minute Posted: 13 Oct 2010 06:19 AM PDT
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| Rebroadcast of Forex Trading Webinar Oct 12 2010 Posted: 13 Oct 2010 06:00 AM PDT
Rebroadcast of FXDD Forex Trading Webinar Oct 12 2010 - Click here to watch |
| GBPUSD tests intraday support at 38.2% Fibo. Stay above and bullish. Below bearish Posted: 13 Oct 2010 05:34 AM PDT GBPUSD tests intraday support at 38.2% Fibo at the 1.5835 level. If the market can stay above this level then the bias remains bullish for the pair. Good resistance above against the 100 hour MA at the 1.5882 level and 1.5891. A move below the 1.5835 level would need to get below the 1.5821 level which was the low from last Friday’s US Unemployment day. The GBPUSD has been supported today off the weaker dollar. Earlier the Unemployment rate declined to 7.7% from 7.8%. However, there was a small rise in Unemployment Claims of 5.3K vs expectation of 4.5K.
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| Posted: 13 Oct 2010 05:32 AM PDT
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| Posted: 13 Oct 2010 05:30 AM PDT Import Price Index(MoM): Survey: -0.2% Actual: -.3% Prior: 0.6% Import Price Index(YoY): Survey: 3.8% Actual: 3.5% Prior: 4.1% Revised: 4.0% |
| US Import Price Index Data at 8:30AM Posted: 13 Oct 2010 05:15 AM PDT
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| Canada New House Price Index 8:30AM Release Posted: 13 Oct 2010 05:11 AM PDT
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| Bobbys Corner-Open Market-Oct.13.2010 Posted: 13 Oct 2010 05:02 AM PDT
I am writing to you from the Middle East Traders Expo in Kuwait City, Kuwait The USD and JPY gave up some ground in overnight trading as the FED announced that they will start a new round of quantitative easing in November. The FED is focused on doing all they can to sustain the US economy through a policy of monetary easing and this policy will continue to add to the downward pressure on the greenback. China announced that they have record currency reserves-which helped put worldwide stock indexes in rally mode. US Futures rose, and JP Morgan Chase announced at 23 % surge in profits-beating analysts estimates. Oil rose,Gold came close to it’s all time record and Copper rose, and Tin hit a record high on the London Metal Exchange. Have a GREAT DAY & GOOD LUCK |
| NY Opening Forex Commentary:EURO diverges from the rest Posted: 13 Oct 2010 04:42 AM PDT |
| Eurozone Ind Production (m/m) and UK CB Leading Index Posted: 13 Oct 2010 02:00 AM PDT
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| Aussie Having Trouble Breaking .98871 Posted: 13 Oct 2010 01:48 AM PDT The AUD/USD pair has tested the session high of .9888 twice thus far today but is running into resistance at this level. After finding some earlier support around the .9836 level from the 50.0% line, on the move from Oct 10th high to Oct 12th low, and the 100 hour moving average, the pair pushed through the 61.8% retracement level but can’t close above .9888. A close above this level may result in a full retracement.
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| UK Unemployment Slightly Better at 7.7% Posted: 13 Oct 2010 01:32 AM PDT
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