Forex Market Updates & Commentary |  |
- ECBs Bini Smaghi says rating agencies may be behind the curve
- Greg Michalowski just added to London Traders Expo
- Feds Lacker on CNBC. Key comments.
- EURUSD corrects after ISM data
- Construction Spending Drops, ISM Data Stays Put
- GBPUSD tests congestion target at 1.5956 to 1.5972
- Special FXDDAuto Webinar Thursday April 7th 12pm
- Weekly Wrap Up with Greg and Shawn TODAY at 12:30pm. Reserve your seat now
- EURUSD finding sellers against the 1.4116-20 area
- US ISM Data & Construction Spending Due at 10AM
- USDCHF soars on flight out of safety
- Keith Hall, (Labor Department Commissioner) comments on the Employment report
- USDJPY moves to target resistance at 84.40-52 area and comes off
- EURUSD below 100 hour MA at 1.4120. Test support at underside of trendline
- US Nonfarm Payrolls Rise, Unemployment Falls Lower to 8.8%
| ECBs Bini Smaghi says rating agencies may be behind the curve Posted: 01 Apr 2011 07:17 AM PDT The EURUSD moves lower on the quote after testing the post employment report highs. Nevertheless the move above the 38.2% of the intraday move muddies the water a bit. Bias is down but watching the 1.4100 level. A move back above the level should suggest a more balanced market now. WIth 1.4121 the next key upside target to stay below (the level is the 100 hour MA level now)
|
| Greg Michalowski just added to London Traders Expo Posted: 01 Apr 2011 07:17 AM PDT
Greg Michalowski has been added as a presenter at the London Traders Expo. The event runs April 8th and 9th. Here is Greg’s speaking schedule. |
| Feds Lacker on CNBC. Key comments. Posted: 01 Apr 2011 07:10 AM PDT
|
| EURUSD corrects after ISM data Posted: 01 Apr 2011 07:07 AM PDT
The ISM data was ok, but some of the components perhaps were not as the market hoped. New Orders and Backlog orders fall. ================================== |
| Construction Spending Drops, ISM Data Stays Put Posted: 01 Apr 2011 07:02 AM PDT Construction Spending MoM: Survey: -0.2% Actual: -1.4% Prior: -0.7% Revised: -% ISM Manufacturing: Survey: 61.1 Actual: 61.2 Prior: 61.4 Mar vs. Feb ISM Prices Paid: Survey: 82.9 Actual: 85.0 Prior: 82.0 Prices paid highest since july 2008 |
| GBPUSD tests congestion target at 1.5956 to 1.5972 Posted: 01 Apr 2011 06:54 AM PDT
The GBPUSD is down testing the next congestion target at the 1.5956-72 area. The level is trendline support on the daily chart and has been a support area in Feb and March as well. On the hourly chart below the level has been a remember line over the last week or so of trading (see chart below). A break below, opens the door for further selling pressure.
|
| Special FXDDAuto Webinar Thursday April 7th 12pm Posted: 01 Apr 2011 06:45 AM PDT
We'd like to invite you to join Oz Golan, Director of Institutional Sales at Tradency and FXDD's Shawn Powell for a free, interactive webinar highlighting the features and functionalities of FXDD Auto. This is your opportunity to learn how to employ the FXDD Auto tools and strategies from a Tradency expert, as well as ask questions. >> Register now to reserve your seat The live event will take place online Thursday, April 7th at 12:00pm EDT. With FXDDAuto, you can evaluate over 1,500 trading strategies developed by Forex traders and create personalized portfolio of those you wish to follow. Once you have created your portfolio, FXDD Auto will automatically execute the trades for your selected strategies.>> Register now to reserve your seat |
| Weekly Wrap Up with Greg and Shawn TODAY at 12:30pm. Reserve your seat now Posted: 01 Apr 2011 06:39 AM PDT
Weekly Wrap Up with Greg and Shawn TODAY at 12:30pm. There will be a lot to talk about with the current market conditions in the Euro and other majors. - Reserve your seat now. |
| EURUSD finding sellers against the 1.4116-20 area Posted: 01 Apr 2011 06:37 AM PDT
As per the PRIOR POST, the market has stalled and corrected to the target area at 1.4116-20 area. The 1.4116 level is the 38.2% of the last intraday fall to the downside. The 1.4120 level is the 100 hour MA. Staying below keeps the bears in charge and the dip buyer worried. Moving above, muddies the water for the day and the trend a bit.
|
| US ISM Data & Construction Spending Due at 10AM Posted: 01 Apr 2011 06:19 AM PDT
|
| USDCHF soars on flight out of safety Posted: 01 Apr 2011 06:14 AM PDT The better than expected US job report has continued to lead to a move out of the safe haven Swiss Franc (higher USDCHF). The currency has been the haven for funds with the global economic uncertainty as well as the tension and devastation coming from the Middle East and Japan. With arguably a more favorable environment (or at least all the bad is out) and the better jobs report today, the door remains open for the unwinding of the safe haven play and a higher USDCHF.
On the daily chart the price is now above the 38.2% retracement level at the 0.9243 level. Staying above this level targets the 50% at the 0.9345 level. There is also channel resistance at the level. This makes the level an attractive target for the bulls. Looking at the hourly chart the price is back in the channel from the March 23rd to March 30th period. The trendline comes in at the 0.9282 level. There is trendline resistance above at the 0.9306 level and this is the next closest target to watch for upside confirmation. There should be some intraday profit taking sellers against the level. If the price is broken, look for the 0.9345 level to come into focus and it could be sooner rather than later.
Support on the downside now comes in at the 0.9273-82. The 0.9273 level was the high from March 30th. The 0.9283 is the channel trendline. Looking at the 5 minute chart, watch larger corrections that approach the 38.2% of the last move higher. That level comes in at 0.9268 currently.
|
| Keith Hall, (Labor Department Commissioner) comments on the Employment report Posted: 01 Apr 2011 06:08 AM PDT Keith Hall, Labor Department commissioner, comments on the stronger than expected US jobs report. http://www.bls.gov/news.release/pdf/jec.pdf Press release from the Bureau of Labor Statistics. |
| USDJPY moves to target resistance at 84.40-52 area and comes off Posted: 01 Apr 2011 05:56 AM PDT
The USDJPY has continued the move higher. It is now comfortably above the 200 day MA (green line the the chart above). The pair has found some sellers against the 82.40-52 area. This was a ceiling area back in November/December 2010. On a correction off the high (ie a move down intraday), watch the 84.10 for support. This is the 38.2% of the last leg up on the intraday chart (see chart below)
|
| EURUSD below 100 hour MA at 1.4120. Test support at underside of trendline Posted: 01 Apr 2011 05:40 AM PDT
The better US jobs data has the EURUSD heading lower as the market debates the Feds next move. THe price has moved through the 100 hour MA at the 1.4120 level and has tested the underside of the channel trendline (the next target for the pair - see chart above). Resistance now at 1.4120. a break of the 1.4092 should solicit more selling pressure. 1.4084 is another downside target (horizontal line in chart above), then 1.4072 which is the upward sloping trendline. On corrections watch the 38.2% retracement. That level currently comes at 1.4116 with the low at 1.4088. This along with the 100 hour MA at 1.4120 currently is the topside resistance I would expect the sellers to defend.
|
| US Nonfarm Payrolls Rise, Unemployment Falls Lower to 8.8% Posted: 01 Apr 2011 05:32 AM PDT Change in Nonfarm Payrolls: Survey: 190K Actual: 216K Prior: 192K Revision: K Change in Private Payrolls: Survey: 206K Actual: 230K Prior: 222K Revised: K Change in Manufacturing Payrolls: Survey: 30K Actual: 17K Prior: 33K Revised: 53K Unemployment Rate: Survey: 8.9% Actual: 8.8% Prior: 8.9% Avg Hourly Earning (MoM) All Emp: Survey: 0.2% Actual: 0.0% Prior: 0.0% Avg Hourly Earning (YoY) All Emp: Survey: 1.9% Actual: 1.7% Prior: 1.7% Avg Weekly Hours All Employees: Survey: 34.3 Actual: 34.3 Prior: 34.2 |
| You are subscribed to email updates from Forex News and Commentary by FXDD To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google Inc., 20 West Kinzie, Chicago IL USA 60610 | |
No comments:
Post a Comment