Forex Market Updates & Commentary |  |
- Weekend Technical Commentary: USDCAD
- Weekend Technical Review: USDJPY
- Weekend Technical Review: USDCHF
- Weekend Technical Review: GBPUSD
- Weekend Technical Review: EURUSD
- Key Economic Releases and Events for next weeks trading
- G20 Meeting increases weekend risk
- Forex QUICK…STOP in GBPUSD
- Forex QUICK: GBPUSD finding resistance at 1.5010
- Forex Midday Report - June 25
| Weekend Technical Commentary: USDCAD Posted: 25 Jun 2010 03:31 PM PDT |
| Weekend Technical Review: USDJPY Posted: 25 Jun 2010 12:54 PM PDT |
| Weekend Technical Review: USDCHF Posted: 25 Jun 2010 12:53 PM PDT |
| Weekend Technical Review: GBPUSD Posted: 25 Jun 2010 12:53 PM PDT |
| Weekend Technical Review: EURUSD Posted: 25 Jun 2010 12:52 PM PDT |
| Key Economic Releases and Events for next weeks trading Posted: 25 Jun 2010 12:37 PM PDT |
| G20 Meeting increases weekend risk Posted: 25 Jun 2010 11:10 AM PDT The G20 meeting this weekend increases the traders risk. The expectation is for a neutral report/communique. There may be some disagreement behind closed doors as far as the method behind exiting out of a crisis with the EUROZONE members and the UK focusing their efforts on debt reduction, while the US would prefer they focus on spend, spend, spend (or not be too austere in their austerity), but it is unlikely that any discussion will change minds. China has allowed its currency to float/appreciate albeit at a moderate pace. ALthough the market expects a modest move going forward, the fact the Yuan has come off the peg to the dollar and the Peoples Bank of China is intent on making it float against a basket of currencies. This is contributing to the rise in the EURUSD/GBPUSD which has benefitted from the peg to the stronger dollar over the last few months. China may want to limit the Yuans gain against the EURO and GBP and allow the action to be felt against the dollar - at least for the time being. The rise in the EURUSD and GBPUSD have also benefitted from some better technicals which are testing resistance with the GBPUSD at the 100 day moving average (at 1.5048) and the EURUSD at trendline resistance (at 1.2375). Although if it were not the weekend and the position could be monitored minute to minute, selling against these key levels would be the obvious trade. However, with the higher weekend event risk, a gap higher above these key levels would be a concern. In trading it is always better to live to fight another day. Monitoring the risk and controlling the risk is paramount for success as a trader. When risk is increased - and this weekend risk is increased - it is best to take that fact into consideration. So be careful and be sure to evaluate your risk before the weekend close at 4 PM ET. |
| Posted: 25 Jun 2010 10:33 AM PDT The GBPUSD moved back above the 1.5010 level. The next target becomes the 1.5042 level which is the 100 day MA for the pair. The price has been below the 100 day MA since January 21st. I would expect the market to slow there. The USDCHF is trading around its 100 day MA level at 1.0945 area but rallies continue to be sold as a result, don’t fade the trend. |
| Forex QUICK: GBPUSD finding resistance at 1.5010 Posted: 25 Jun 2010 10:27 AM PDT |
| Posted: 25 Jun 2010 09:30 AM PDT Forex Midday Report - June 25 |
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