Forex Market Updates & Commentary

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• The FXDD Weekend Forex Commentary
• AUDUSD: Outside day, Lower close a possibility going into the weekend
• USDJPY tests trendline resistance at 81.47
• US Budget Deficit for 2010
• Geithner on the Wires
• EURUSD tests key support levels again 1.3967-74
• Obama delays China Currency Report
• Forex Midday Report- Oct 15
• EURUSD is not going out quietly this week. Action continues
• Rebroadcast of Thursday October 14th 2010 Webinar
• EURUSDs volatile moves as the London close approaches
• USDCAD breaks through 200 hour MA and stalls at 38.2% retracement
• AUDUSD falls below 100 hour MA support at 0.9886
• EURUSD comes under continued pressure. Eyes next support levels
• USDCAD breaks above 100 hour MA

The FXDD Weekend Forex Commentary Posted: 15 Oct 2010 01:17 PM PDT In the weekend forex report, I look at the EURUSD, GBPUSD, USDJPY, USDCHF, USDCAD and AUDUSD and outline the key technical levels to focus on in trading next week. A successful trader is prepared to trade. The report will allow you to focus on where we are and where we may be going. Thank you for your continued support this week. Have a great weekend. Greg Michalowski

AUDUSD: Outside day, Lower close a possibility going into the weekend Posted: 15 Oct 2010 11:44 AM PDT

USDJPY tests trendline resistance at 81.47 Posted: 15 Oct 2010 11:21 AM PDT The USDJPY has marched up to the 81.47 level which is the trendline resistance starting from the highs on October 6th.  As per the chart a number of times the price has approached the level.  A break above has the 100 hour MA at 81.66 to overcome.  The price has been below the 100 hour MA since October 5th

US Budget Deficit for 2010 Posted: 15 Oct 2010 11:04 AM PDT 34.5 Billion for the current month and 1.294 Trillion for the fiscal year.

Geithner on the Wires Posted: 15 Oct 2010 10:59 AM PDT Recognizes China’s actions to accelerate currency rise China reforms can contribute to global rebalancing China enacting reforms to strengthen domestic demand Says important for China to sustain course on Yuan

EURUSD tests key support levels again 1.3967-74 Posted: 15 Oct 2010 10:47 AM PDT A break will next target the 200 hour MA at the 1.3938 level (green line in the chart).  A break of that will target the 61.8T at 1.3921.

Obama delays China Currency Report Posted: 15 Oct 2010 10:05 AM PDT The report is likely to be delayed to November after the G20. The thought is the Treasury does not want to say it. The administration would prefer to work things out rather than cause a war of words.

Forex Midday Report- Oct 15 Posted: 15 Oct 2010 09:30 AM PDT Forex Midday Report- Oct 15

EURUSD is not going out quietly this week. Action continues Posted: 15 Oct 2010 09:26 AM PDT

Rebroadcast of Thursday October 14th 2010 Webinar Posted: 15 Oct 2010 08:00 AM PDT Rebroadcast of Thursday October 14th 2010 Webinar- Click here

EURUSDs volatile moves as the London close approaches Posted: 15 Oct 2010 07:38 AM PDT

USDCAD breaks through 200 hour MA and stalls at 38.2% retracement Posted: 15 Oct 2010 07:33 AM PDT

AUDUSD falls below 100 hour MA support at 0.9886 Posted: 15 Oct 2010 07:25 AM PDT The AUDUSD has moved below the 100 hour MA at the 0.9886 level. That level will now be upside resistance for the pair.  Profit taking after moving just above the parity earlier today failed to ignite any additional buying.  The 200 hour MA becomes the next support for the pair. That level comes in at the 0.9835 level currently (see green line in chart above). A move back above the 0.9886 level would not be welcomed by new shorts.

EURUSD comes under continued pressure. Eyes next support levels Posted: 15 Oct 2010 07:20 AM PDT

USDCAD breaks above 100 hour MA Posted: 15 Oct 2010 07:09 AM PDT

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