Forex Market Updates & Commentary

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• The Weekend Technical Forex Commentary for Jan 28th is available for viewing
• Gold finds technical selling levels as the end of week approaches
• EURUSD finds support/profit taking buyers
• Midday Forex Commentary from FXDD
• Bobbys Corner-Open Market-Jan.28.2011
• Stay below 1.3636-42 in the EURUSD keeps bears in charge
• GBPUSD moving lower on dollar buying. Stay below 1.5857

The Weekend Technical Forex Commentary for Jan 28th is available for viewing Posted: 28 Jan 2011 01:22 PM PST The Weekend Technical Forex Commentary for Jan 28th is available for viewing

Gold finds technical selling levels as the end of week approaches Posted: 28 Jan 2011 10:35 AM PST Gold finds technical selling levels as the end of week approaches. The key levels to eye now include 1338 and the 100 hour MA at the 1330 level. On the topside, the 200 hour MA at the 1344.50 level and the double top (yesterday and today at 1347). Above that 1352 = 38.2% of the 2011 trading range.

EURUSD finds support/profit taking buyers Posted: 28 Jan 2011 09:43 AM PST The EURUSD resistance levels at 1.3618. A move above that targets 1.3636-43 again. Key support comes in against the 1.3577-85 now where MA and Fibo support is found.

Midday Forex Commentary from FXDD Posted: 28 Jan 2011 09:09 AM PST

Bobbys Corner-Open Market-Jan.28.2011 Posted: 28 Jan 2011 08:52 AM PST Good Morning: Sorry for the late posting-too much snow-too many mass transit delays ….. Oil prices jumped, world wide equity markets are lower, and the USD rose against the Euro amid protests in Egypt. President Mubarak has imposed curfews in Cairo,Suez and Alexandria.  News coverage has shown footage of military personnel and vehicles on the streets. The Egyptian government has denied that they are blocking various social media (twitter and facebook), sites along with internet sites that are able to display photos of the demonstrations. This is unquestionably President Hosni Mubarak’s biggest challenge in his 30 year reign.  He is expected to speak to his nation this evening. The next few days will be the turning point for Mr. Mubarak’s rule-as he needs to get control of the situation before it becomes a completly out of control situation. HAVE A GREAT DAY-WEEKEND & GOOD LUCK

Stay below 1.3636-42 in the EURUSD keeps bears in charge Posted: 28 Jan 2011 08:04 AM PST The sharp fall in the EURUSD on the break of the 100 hour MA has sent the pair tumbling to the downside.  The move does seem to have some momentum behind it.  With that type of move, the corrections will be eyed closely to judge the strength of the conviction. If the price can now remains below the 1.3636-42 level, I think the price bias should remain firmly to the downside.  This level corresponds to the low from yesterday and the lows from Wednesday.

GBPUSD moving lower on dollar buying. Stay below 1.5857 Posted: 28 Jan 2011 07:47 AM PST  The GBPUSD is moving lower with the general flight to quality/safety that is prevailing in the market today. They price has moves through the 50% and 61.8% fibo support levels at 1.5869 and 1.5841 and has moved to test the ceiling high levels from Tuesdays trade.  That level came in at 1.5831 and the low has so far been 1.5832. A break of the 1.5832 is likely to solicit additional selling with trendline support at 1.5816 the next target. Below that level the weeks low at 1.5749 and the Wednesday low at 1.5768 would be further target levels. If the price can stay below 1.5857 the bearish bias remains in control

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