Forex Market Updates & Commentary

USDJPY falls to next support 80.84-88
EURUSD tests 100 and 200 hour MA. A good area to pause and regroup?
IMF repeats Chinese Yuan undervalued
Forex Morning Report- Oct 28th
USDJPY moves below 81.12. The 80.84-88 next target. 81.24 key resistance above
Bobbys Corner-Market Open-Oct.28.2010
Jobless Claims Data Improves
GBPUSD breaks above intraday bull flag. Stalls at Fibo level
NY Morning Commentary. Dollar moves back down
US Jobless Claims & Continuing Claims Data at 8:30AM
CBI Realized Sales
Eurozone Confidence Data stronger than expected
ECB’s Stark; financial crisis not over yet leading gto lower growth rates
Sakurai; important for BOJ and government to work together on policy
ECB’s Weber on the wires

Posted: 28 Oct 2010 07:18 AM PDT

EURUSD tests 100 and 200 hour MA. A good area to pause and regroup?

Posted: 28 Oct 2010 06:46 AM PDT

The EURUSD reached a peak of 1.3897, just short of the 100 and 200 hour resistance at the 1.3898 level. When the two moving averages and price converge it is indicative of a non-trending market. Typically, the market price moves away from the level. Since the EURUSD has had a steady climb higher today that has taken the pair up from a low of 1.3733 during yesterdays NY PM trading, the market is likely to pause the ascent. Support is likely to come in at the 1.3861 area where a trendline support comes in.

IMF repeats Chinese Yuan undervalued

Posted: 28 Oct 2010 06:38 AM PDT

Of course, a move higher is what the financial markets need and want - whether it happens is another question.

Forex Morning Report- Oct 28th

Posted: 28 Oct 2010 06:35 AM PDT

Forex Morning Report- Oct 28th

USDJPY moves below 81.12. The 80.84-88 next target. 81.24 key resistance above

Posted: 28 Oct 2010 05:37 AM PDT

The USDJPY has moved below the 81.12 level and despite the strong Initial Claims, the price is remaining down. Watch the 100 and 200 hour MA at the 81.24 level for clues.

Bobbys Corner-Market Open-Oct.28.2010

Posted: 28 Oct 2010 05:36 AM PDT

Good Morning:

The dollar rally lost steam as an increase in demand for higher-yielding assets has investors interest as the market prepares for the Fed to implement QE2.
The Fed has been “asking” bond dealers and investors their projections on the impact to yields due to any new QE2 initiative.
The BOJ left interest rates unchanged, and instituted no new monetary initiatives, which left market participants looking for clear direction regarding the JPY.

Equity markets are mostly higher-as are US Futures.

Oil:$82.20 Gold:$1333.00

TIME		FOR	EST.	PRIOR
08:30AM	INITIAL JOBLESS CLAIMS	OCT 23	455K	452K
08:30AM	CONTINUING CLAIMS	OCT 16	4430K	4441K

Jobless claims come in lower to 434K

HAVE A GREAT DAY & GOOD LUCK

Jobless Claims Data Improves

Posted: 28 Oct 2010 05:34 AM PDT

Jobless Claims: Survey: 455K Actual: 434K Prior: 452K Revised: 455K

Continuing Claims: Survey: 4430K Actual: 4356K Prior: 4441K Revised: 4478K

Initial claims have fell in the favor of the job market with the October 23 week end showing a much better claim with 434,000 vs. the 475 of October 9. Four week moving average is staying in between 455K - 465K

GBPUSD breaks above intraday bull flag. Stalls at Fibo level

Posted: 28 Oct 2010 05:25 AM PDT

NY Morning Commentary. Dollar moves back down

Posted: 28 Oct 2010 05:09 AM PDT

The up and down of the dollar was to the downside today as the market worries about the effects of the quantiative easing. The Fed was reported on Bloomberg to have sent a survey to dealers gauging their expectations and effects. When QE and potential for more rather than less is expected, the dollar comes under more pressure.

Today the initial claims is the only data expected. Expected is 453K vs 452K last week

US Jobless Claims & Continuing Claims Data at 8:30AM

Posted: 28 Oct 2010 05:03 AM PDT