Forex Market Updates & Commentary

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• Friday Wrap up 12:30pm with Shawn Powell & Jason Galano
• The Week Ahead in Forex 9:30am Monday
• Talking Technicals with James Chen – Webinar on Tuesday, June 28 at 12:30 PM ET
• FDIC Chairman Bair Comments at National Press Club
• USD/CHF Remains Bearish Near All-Time Lows
• ECB’s Stark on the Wires
• FXDDAuto Live account training Wednesday June 29th 2011 1pm
• EUR/USD Drops to Trendline Support

Friday Wrap up 12:30pm with Shawn Powell & Jason Galano Posted: 24 Jun 2011 01:57 PM PDT Friday Forex Wrap up 12:30pm with Shawn Powell & Jason Galano – Register now

The Week Ahead in Forex 9:30am Monday Posted: 24 Jun 2011 01:52 PM PDT 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

Talking Technicals with James Chen – Webinar on Tuesday, June 28 at 12:30 PM ET Posted: 24 Jun 2011 01:08 PM PDT Please join us on Tuesday, June 28 at 12:30 PM ET for FXDD’s Talking Technicals with James Chen. This free webinar will feature a high-probability technical approach to trading in the Forex market. Please click here to register: https://www1.gotomeeting.com/register/313842241 .

FDIC Chairman Bair Comments at National Press Club Posted: 24 Jun 2011 11:20 AM PDT Says: Retained earnings enough to meetbasel III Banks have capacity to lend Capital standards are the same as before the crisis Banks are risk averse and borrower demand is low Governments need courage to resolve crisis Greek debt may need to be restructured FDIC favors setting high bar for bank capital levels The size of the housing market needs to shrink ‘Housing market became too big a part of our economy’ Derivatives oversight key part of dood-frank rulemaking Credit default swap market remains ‘too opaque’ Its in bank interest to work with regulators Banks should rein in lobbyists and industry groups Continuing

USD/CHF Remains Bearish Near All-Time Lows Posted: 24 Jun 2011 10:25 AM PDT USD/CHF (daily chart) as of Friday (6/24/2011) has continued to consolidate near the all-time low of 0.8325 that was just established earlier this month. This occurs within the context of a long-term, medium-term, as well as short-term bearish trend that has been displaying strong technical characteristics. The most recent short-term bearish leg initiated when the important 0.8550 level, which was key prior support, held strong as current resistance. Now re-testing the all-time low, price is at a critical juncture. A breakdown below this low, which would confirm a long-term downtrend continuation, could target key psychological support, in uncharted territory, around the 0.8000 level. In the event that the all-time low is respected with a bounce and bullish retracement, the noted 0.8550 price region should continue to serve as resistance, followed closely to the upside by the key downtrend resistance line that extends back to the June 2010 high. (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 Director of Technical Research and Education FXDD

ECB’s Stark on the Wires Posted: 24 Jun 2011 08:55 AM PDT Says: Bailout is ‘final chance’ for Greece Support programs cant continue indefinitely If conditions not met, no more aide for Greece ECB cant accept Greek bonds cut to default rating Nationality plays no role for executive board members Important that no political influence on board members

FXDDAuto Live account training Wednesday June 29th 2011 1pm Posted: 24 Jun 2011 07:31 AM PDT We are hosting an FXDDAuto level 2 training with Oz Golan from Tradency on Wednesday June 29th 2011 at 1pm est. This class is for FXDD Live account holders. You must have an active live account with the minimum funded amount to attend. Here is the link to register. https://www1.gotomeeting.com/register/370541216  Please email Shawn Powell if you have questions

EUR/USD Drops to Trendline Support Posted: 24 Jun 2011 07:12 AM PDT EUR/USD (daily chart) as of Friday (6/24/2011) has dropped down to the dynamic support provided by a bullish support trendline extending back to the mid-February low. The current bearishness occurs after price action failed to make further gains and fell from its 1.4440 high in the middle of the week. Currently the pair has fallen to trendline support and continues to carry an overall bearish bias. In the event of a breakdown below this trendline, further downside momentum has a clear downside target around the key 1.4000 psychological support/resistance level. (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 Director of Technical Research and Education FXDD

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