Forex Market Updates & Commentary |  |
- FXDD Webinar Schedule for June 20th-25th 2011
- Moody’s Places Italy on Review for Downgrade
- AUD/USD Seeks Break of Triangle Pattern Consolidation
| FXDD Webinar Schedule for June 20th-25th 2011 Posted: 17 Jun 2011 01:48 PM PDT Monday – June 20th 2011 The Week Ahead in Forex 9:30am Bill Lawless, FXDD Chief Marketing Officer & Greg Michalowski, FXDD Chief Currency Analyst look at the week ahead in Forex trading >> REGISTER NOW Forex Basics 4:00pm Shawn Powell, FXDD National Trainer and Jason Galano, FXDD Sales will review the current top 4 currency pairs. >> REGISTER NOW —————————————————————————————————————— Tuesday- June 21th 2011 Talking Technicals 12:30pm James Chen, FXDD Director of Technical Research and Education, teaches a different technical trading lesson or strategy every week. >> REGISTER NOW SPECIAL WEBINAR – FXDDAuto Intro Course 1:00pm Oz Golan and Shawn Powell teach the basics of FXDDAuto and show the automated trading strategies. >> REGISTER NOW The Traders Course 4:00pm est / 1:00pm pst Greg Michalowski, FXDD Chief Currency Analyst and Shawn Powell, FXDD National Trainer teach Lesson 12 How to use Trendlines >> REGISTER NOW |
| Moody’s Places Italy on Review for Downgrade Posted: 17 Jun 2011 12:19 PM PDT Moody’s places Italys AA2 ratings on review for possible downgrade. |
| AUD/USD Seeks Break of Triangle Pattern Consolidation Posted: 17 Jun 2011 09:53 AM PDT
AUD/USD (daily chart) as of Friday (6/17/2011) has consolidated into a large triangle pattern after descending along a bearish resistance trend line extending back to the all-time 1.1010 high hit in early May. The bottom border of the triangle resides around the 1.0440 price level. This triangle consolidation occurs within the context of a year-long uptrend extending back to the June 2010 low around 0.8080. Price action is currently progressing towards the triangle apex, and a strong breakout could be imminent. In the event of a continuation pattern breakout to the upside, in the direction of the prevailing trend, the key upside target is clearly a re-test of the 1.1000 area resistance high. In the event of a break to the downside, which would extend the bearish correction from the all-time high, downside support resides around the key 1.0200 support region. (Click on chart to enlarge. Forex chart key: price on 1st pane, Stochastics 14,3,3 on 2nd pane; horizontal support/resistance levels in black; uptrend lines in green; downtrend lines in red; 50-period simple moving average (SMA) in orange; 100-period SMA in brown; 200-period SMA in dark blue; Fibonacci levels in magenta.) James Chen, CTA, CMT |
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