Forex Market Updates & Commentary |  |
- FXDD Forex Live Education Tuesday Jan 18th 4pm
- Feds Rosengren warns about rates
- Feds Lacker says Fed must be careful
- EURUSD bounced off the support ran into intraday resistance
- Fed Tarullo on newswires
- The Midday Forex Commentary is available for viewing
- USDCAD tests 100 hour MA and trendline
- EURCHF tests trendline support as London fix approaches
- EURJPY coiling in a narrow range
- EURUSD disappoints on the break higher
| FXDD Forex Live Education Tuesday Jan 18th 4pm Posted: 14 Jan 2011 02:03 PM PST
FXDD Forex Live Education Tuesday Jan 18th 4pm >> Register here |
| Feds Rosengren warns about rates Posted: 14 Jan 2011 11:12 AM PST Says in a question and answer session, that rates won’t stay low forever. He also said that Gold is a relatively small commodity and the fed is not focused on a narrow commodity but on a more broad set of prices. He also warns that government should adopt a more sustainable fiscal path for the long run. |
| Feds Lacker says Fed must be careful Posted: 14 Jan 2011 10:45 AM PST Fed’s Lacker is on newswires saying the Fed must be careful in this stage of the recovery. He says it is not inconceivable that QE could be scaled back and that there is a potential for inflation if the Fed is too slow to react. |
| EURUSD bounced off the support ran into intraday resistance Posted: 14 Jan 2011 10:29 AM PST
The EURUSD bounced off the trendline support line and moved up to the 100 and 200 bar MA on the 5 minute chart at the 1.3355 level. It is Friday. The price dipped, the price rallied. Now we stand in the middle. Anything is possible but it seems like the market is happy where it is. A break of either extreme would be needed to solicit additional possibility. ON the topside 1.3382 would be the next key level. A move below 1.3320 would target 1.3300 and 1.3273
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| Posted: 14 Jan 2011 10:19 AM PST No upward pressure on core inflation |
| The Midday Forex Commentary is available for viewing Posted: 14 Jan 2011 09:12 AM PST |
| USDCAD tests 100 hour MA and trendline Posted: 14 Jan 2011 08:29 AM PST
The USDCAD has 100 hour MA and the underside of the trendline converged at the 0.9898-0.9903 level. The risk is limited at the level. A move above 0.9929 will be needed to set the bias back to the upside. |
| EURCHF tests trendline support as London fix approaches Posted: 14 Jan 2011 07:59 AM PST
The EURCHF is down testing trendline support after consolidating at the highs today. That level comes in at the 1.2864 level currently (moving higher). A break should solicit additional selling pressure. The peak today reached a key technical resistance point at the 38.2% retracement of the move down from the October 2010 high to the low reached in December. That level came in at the 1.2947 level. The high reached 1.2950 today.
Of course SNB official (Jordan yesterday) and government representatives today, have been commenting on how the strong CHF is hurting the economy. They would like to see the currency weaken (EURCHF move higher). Will the market listen and buy the market at key technical levels. The risk is limited but when central bankers beg, the market tends not to listen (at least initially). |
| EURJPY coiling in a narrow range Posted: 14 Jan 2011 07:34 AM PST
The EURJPY is trying to break lower, but just not ready to fall it seems. Watch the key levels for trading clues. The levels are converging. |
| EURUSD disappoints on the break higher Posted: 14 Jan 2011 07:28 AM PST
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