Monday, January 30, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

GBPUSD tests key support at the 1.5657 level. Trendline, 100 hr MA and 38.2% retracement

Posted: 30 Jan 2012 06:23 AM PST

USDCHF tests underside of trendline on hourly. Fails to extend on break of 100 day MA on Friday

Posted: 30 Jan 2012 05:48 AM PST

The USDCHF fell below the 100 day MA at the 0.9151 level on Friday. This should have led to a momentum move lower, but when that did not materialize today,and the price found support against trendline support on the hourly chart, the price rebounded back higher.

The price is testing the underside of the broken trendline at the 0.9198 level. A move above the level will next target the 38.2% of the move down from last weeks high and the 100 hour MA at the 0.92159-0.9220 levels.

EURUSD tests 100 hour MA at 1.3090

Posted: 30 Jan 2012 05:44 AM PST

The EURUSD fell below the 1.3100 level and tested the 100 hour MA at the 1.3090 level (low came in at 1.3088). A move below the level has additional support at the 1.3078 where the low from Friday and the 38.2% of the move up from January 25th low comes in.

EURUSD moves lower. GBPUSD finds its support target.

Posted: 30 Jan 2012 05:33 AM PST

US Personal Income Rises, While Spending Falls

Posted: 30 Jan 2012 05:30 AM PST

Personal Income:   Survey: 0.4%     Actual:  0.5%    Prior:  0.1%   

Personal Spending:   Survey: 0.1%    Actual: 0.0%  Prior: 0.1% 

PCE Deflator:    Survey: 2.3%  Actual:  2.4%   Prior: 2.5%

PCE Core(MoM):     Survey: 0.1%   Actual:  0.2%    Prior: 0.1% 

PCE Core(YoY):    Survey:  1.7%   Actual:  1.8%   Prior:  1.7%

EURUSD falls. Dollar strenghtens. EU leaders to meet today. Greece may need 15 bln more (145 B total)

Posted: 30 Jan 2012 04:59 AM PST

US Personal Income & Spending Data Due at 8:30AM

Posted: 30 Jan 2012 04:32 AM PST

German Finance Ministry spokesman says the focus remains on private sector contribution to Greek haircut.

Posted: 30 Jan 2012 02:57 AM PST

Dollar continues to gain

Posted: 30 Jan 2012 02:28 AM PST

The USD is trading on session highs against all of the majors as the market prefers to avoid risk. In the case of the USD vs the CHF, the next stop appears to be .92007.

EUR/USD moves below 61.8%

Posted: 30 Jan 2012 02:10 AM PST

After testing support at this level earlier, the pair has secured consecutive closes below this line; with European equities in the red we may see more risk-off sentiment in the market.

Eurozone Consumer Confidence (Jan) -20.7 vs -20.6 expected.

Posted: 30 Jan 2012 02:02 AM PST

Eurozone Business Climate (Jan) -0.21 vs -0.25 expected.

Posted: 30 Jan 2012 02:01 AM PST

EU to reprogram unspent structural funds; no specified figures. It will also consider higher lending ceiling for EU investment bank.

Posted: 30 Jan 2012 01:31 AM PST

Irish minister says if voters rejected fiscal treaty it would be gard to remain in the Euro.

Posted: 30 Jan 2012 12:59 AM PST

Euro lower

Posted: 30 Jan 2012 12:48 AM PST

The Euro has come off in recent trading as investors await a debt swap deal between Greece and it’s private creditors; the deal would cut the long term value of bonds help by creditors to a touch over 70%. Additionally, German Eco. Minster Roesler is said to want Greece to surrender control of its budget policy if it could not follow through with necessary reforms.

On the 15 minute, the EUR/USD found support at the 61.8% fibo line on the move from Friday’s low to today’s high; currently testing the 100 hour moving average.
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