Forex Market Updates & Commentary

---

• Wholesale inventories rise 1.0%
• ECB Wellink says upside inflation risk remains
• US Wholesale Inventories due at 10AM
• The NY Morning Forex Commentary is available for viewing
• Portugal on the Wires
• GBPUSD remains above support despite better Initial Claims
• Good number for Initial Claims
• Canada New House Price Index Lower
• US Jobless Claims & Continuing Claims Come in Stronger
• Gold tests 100 hour MA support
• Bobbys Corner-Open Market-Feb.10.2011
• ECB’S Weber on the Wires
• The NY Opening Forex Commentary is available for viewing
• US Jobless Claims & Continuing Claims Data due at 8:30AM
• Canada New Housing Price Index Data Due at 8:30AM

Wholesale inventories rise 1.0% Posted: 10 Feb 2011 07:03 AM PST This a greater than expectations of 0.7% and will likely increase 4Q GDP. The 4Q GDP came in at 3.2% for the initial read, but it does not include all known economic data. Inventories were a drain for GDP. Lower inventories = lower GDP. As the inventories are replenished, GDP rises. This report will therefore likely lead to a revision higher - all things equal.

ECB Wellink says upside inflation risk remains Posted: 10 Feb 2011 06:33 AM PST However, he also comments that forecast for inflation to ease remains valid. He continues by saying ECB would act swiftly if data warranted it and that expanding EFSF (European Financial Stability Facility) mandate would help ECB. The comments were made in a Market News interview.

US Wholesale Inventories due at 10AM Posted: 10 Feb 2011 06:16 AM PST

The NY Morning Forex Commentary is available for viewing Posted: 10 Feb 2011 06:05 AM PST The better than expected Initial Claims have led to an increase in the US dollar. GBPUSD has good support at the 1.6015 area and seems to find buyers. EURUSD has broken through support at 1.3611 but found buyers below. USDCHF moves closer to the 100 day MA target at 0.9688. This and more in the morning forex commentary.

Portugal on the Wires Posted: 10 Feb 2011 06:05 AM PST Portugal government says rise in yields reflect speculative attack on euro Portugal government says first indications on there budget are that revenues are very positive

GBPUSD remains above support despite better Initial Claims Posted: 10 Feb 2011 05:44 AM PST

Good number for Initial Claims Posted: 10 Feb 2011 05:37 AM PST 383K vs 410K expectations. Lowest level since July 2008. The Labor Department does say that the claims are still unwinding previous effects of bad weather. So it might be another week or so before we get a true measure. Nevertheless, the trend is back in the right direction, and is more in line with the Unemployment rate decline that has seen the Unemployment rate fall from 9.8% to 9.0% in two calendar months. States with the largest declines: North Carolina had 11,541 fewer layoffs Georgia had 5,607 fewer layoffs Alabama 4,128 fewer layoffs and NJ had 3,037 fewer layoffs The dollar is moving higher on the news

Canada New House Price Index Lower Posted: 10 Feb 2011 05:36 AM PST Canada New House Price Index:  Survey: 0.2%   Actual: 0.1%   Prior: 0.3%  DEC 2010 Total MoM%:   0.1% House Only:   -0.1% Land Only:  0.2% Total YoY%:  2.1% House Only:  2.4% Land Only:  0.7% Index Level: 104.0 House Only:  103.7 Land Only:  103.9

US Jobless Claims & Continuing Claims Come in Stronger Posted: 10 Feb 2011 05:34 AM PST Number of people applying for U.S. unemployment  drops to lowest level in almost 3 years.

Gold tests 100 hour MA support Posted: 10 Feb 2011 05:29 AM PST

Bobbys Corner-Open Market-Feb.10.2011 Posted: 10 Feb 2011 05:10 AM PST Good Morning: As expected the Bank of England left interest rate s along with their QE program unchanged. Portuguese bond yields rose-and the ECB was aggressively buying them up.  The spread between Portuguese and German  10 year government bonds has widened again-now at 420 bps.  This is still not as wide as the spreads got when Greece was in the early stages of their debt crisis.  With global equity markets mostly lower-the greenback rose as demand for the safety of the US currency was the main event in the FX markets overnight. Asian equity markets were mixed, and Europe’s equity markets are lower at this time.  US Futures are also looking at a lower opening this morning. Oil:$86.43                                                                            Gold:$1358.20     TIME PERIOD FOR EST. 7:45A.M. BK. OF ENGLAND RATE DECISION 8:30A.M. INITIAL JOBLESS CLAIMS 5-Feb 410K 415K 8:30A.M. CONTINUING CLAIMS 29-Jan      3900K 3925K 10:00A.M. WHOLESALE INVENTORIES DEC. 0.80% -0.2% 2:00P.M. MONTHLY BUDGET STATEMENT JAN. -$60.0B -$42.6B HAVE A GREAT DAY & GOOD LUCK

ECB’S Weber on the Wires Posted: 10 Feb 2011 04:58 AM PST Says: Does not see alternative to ambitious consolidation Extended, more automatic sanction mechanism welcome Current ESM proposals are ‘welcome’ Euro bonds, bond buys not suitable to solve calamity Economic crisis has strengthened in EMU, Germany German recovery will continue to be vigorous Must regain market poise in fiscal policy Macroeconomic fine-tuning is doomed to fail Important private investors contribute in bailouts Enormous parts of crisis are over Support without conditionality is incorrect way

The NY Opening Forex Commentary is available for viewing Posted: 10 Feb 2011 04:43 AM PST

US Jobless Claims & Continuing Claims Data due at 8:30AM Posted: 10 Feb 2011 04:39 AM PST

Canada New Housing Price Index Data Due at 8:30AM Posted: 10 Feb 2011 04:32 AM PST

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

Forex Market Updates & Commentary

---

• Bernanke plays it safe in his opening remarks.
• Bernanke Unemployment to likely remain high
• Bernanke to speak shortly. What does he see now?
• USDCAD moves toward support. Range tight today.
• Rebroadcast of live education from Feb 8th 2011
• EURUSD tests upside resistance pre-Bernanke
• FXDD to present on FXStreet tomorrow
• Fed’s Geithner on the Wires
• Gold pushes against upside resistance
• The NY Opening Forex Commentary is available for viewing
• MBA Mortgage Applications are down 5.5%
• Euro Testing Previous Support
• UK trade balance -9.247B
• UK Trade Balance in 15 Minutes..
• GBP/USD Advancing

Bernanke plays it safe in his opening remarks. Posted: 09 Feb 2011 07:27 AM PST FOMC’s Bernanke played it safe in his opening comments, saying Unemployment will likely remain high for some time. What is high? Is it 9% is it 9.5%, is it 8%. The dollar has fallen on the less positive remarks. Q and A will likely keep the market on guard. For a look at the key levels now in the EURUSD, USDJPY, USDCHF and GBPUSD, click on the following link.

Bernanke Unemployment to likely remain high Posted: 09 Feb 2011 07:00 AM PST Committed to price stability Unemployment rate to likely remain high for some time DEC Jan decline in jobless grounds for optimism US recovery appears to have strengthened Jobs essential for solid recovery Jobs has improved only slowly Consumer/Business spending may be self sustaining For the complete text of the Chairmans written testimony click on the FOLLOWING LINK Regarding employment the chairman noted that the 1 MM jobs created in 2010 is not sufficient to account for the number of new entrants into the labor market.   Note, however, that despite that the unemployment rate has declined from 9.8% in November to 9.0% in January.  It seems the Fed Chairman is either anxious to see a surge in job creation or he does not believe the unemployment rate.   His question and answer portion will hopefully explore what the Fed Chairman thinks. He did not give any estimates or projections for GDP, Employment or inflation in his opening prepared remarks. The market seems to voting in terms of a more dovish Fed as the dollar has continued it’s move lower.

Bernanke to speak shortly. What does he see now? Posted: 09 Feb 2011 06:59 AM PST I will be interested to see the Fed Chairman’s estimates for the Fed’s Central Tendencies for GDP, Inflation and Unemployment.  In November, the Fed was projecting unemployment to be between 8.9% and 9.1% in 2011. Since that time, the unemployment rate has fallen from 9.7%  to 9.0%. Does the Chairman believe it? What about GDP? This is what I will be watching.

USDCAD moves toward support. Range tight today. Posted: 09 Feb 2011 06:39 AM PST The 200 hour MA at the 0.9923 level is the target support for the USDCAD.  This level should provide support but if it gives way, expect further selling.  The pair has been mired in a narrow trading range today with a high at 0.9954 and a low at 0.9928.  The Average True Range over the last 22 trading days (a proxy for a month of trading) is at 73 pips (see daily chart below) .  The 26 pip range today, suggests that there likely will be an extension at some point today. As a result, anticipate a move in the North America session today. For traders you can anticipate a move on a break of either extreme. If the price moves above the 0.9954 level look for additional buying (use a tight stop -10/12 or so pips below the break point) . Conversely, a break of the 0.9928 level (followed by a move below the 200 hour MA) should signal lower levels for the pair (protect with a similiar tight stop of 10-12 pip).  The trade is simply a range extension play. If  a normal range is anticipated, the pair should have some room to roam in whatever direction the pair breaks.

Rebroadcast of live education from Feb 8th 2011 Posted: 09 Feb 2011 06:38 AM PST Rebroadcast of live education from Feb 8th 2011- Watch now This posting includes an audio/video/photo media file: Download Now

EURUSD tests upside resistance pre-Bernanke Posted: 09 Feb 2011 06:19 AM PST Prior to the FOMC Bernanke testimony on Capital Hill, the EURUSD has moved to test resistance against the 200 hour MA and the 50% retracement of the move down from the February 1st high to the low on February 4th. Those levels come in at the 1.3677 and the 1.3684 level respectively. On the downside the 1.3661 level was the high for the day prior to the last move higher.  The correction off the high came down to this level and found buyers. If the price can stay above this level the intraday shorts will likely feel the pinch/squeeze.

FXDD to present on FXStreet tomorrow Posted: 09 Feb 2011 06:05 AM PST FXstreet.com - Free Access Day Tomorrow Join us on Thursday, February 10th at FXstreet.com LIVE and enjoy our guest experts’ webinars FOR FREE! FEATURED WEBINARS: Risk! Risk! Risk! at 16:00 GMT/11:00 am EST, by Greg Michalowski, Chief Currency and Trading Analyst at FXDD Defining risk is important for your forex trading. In this webinar, Greg Michalowski, Chief Currency Analysts from FXDD, will show some of the ways he chooses to define risk and how defining risk helps reduce trader’s fear US Pre-Market Open Expert: Ed Ponsi, President of FXEducator LLC at FXstreet.com Start: 13:00 GMT/ 08:00 am EST US Session Open Expert: Ed Ponsi, President of FXEducator LLC at FXstreet.com Start: 14:30 GMT/ 09:30 am EST The Law Of Charts In Action: Live Market Analysis and Q&A Expert: Marco Mayer, Professional Forex Trader, Editor of Forex at the Market at Trading Educators Inc. Start: 17:00 GMT/ 12:00 pm EST These webinars and more will be presented throughout the trading day. So register and enjoy! CLICK HERE FOR THE SCHEDULE IMPORTANT: FXStreet webinars are run using the hotComm technology (Live Audio and Video presentations). To attend, you need to have the hotComm software installed on your computer. More info go and important software information CLICK HERE

Fed’s Geithner on the Wires Posted: 09 Feb 2011 05:44 AM PST Says: Sees stronger economy with more opportunity “Things are gradually improving’ for economy Unemployment will come down gradually in 2012 “The recovery is accelerating” Unemployment down gradually with 3%-4% growth People were ‘paniced’ by scale of crisis U.S. growing twice as fast as Europe, Japan Manufacturing, export  growth are strong Job opportunities for skilled workers Corporate tax overhaul should lower rates, broaden base

Gold pushes against upside resistance Posted: 09 Feb 2011 05:43 AM PST

The NY Opening Forex Commentary is available for viewing Posted: 09 Feb 2011 04:53 AM PST FOMC Chairman Bernanke is to testify on Capital Hill today at 10:00 AM. For a preview and a look at the key technical levels to eye today in the EURUSD, GBPUSD, USDJPY and USDCHF, watch today’s Morning commentary.

MBA Mortgage Applications are down 5.5% Posted: 09 Feb 2011 04:12 AM PST The weekly mortgage applications fell -5.5% for the current week after rising 11.3% last week. The average 30 year mortgage rate rose to a 5.13%. This was the highest rate in 10 months. The Purchase index fell 1.4%. The Refinancing Index fell 7.7%. As rates go up, it may have the effect of lowering things like the refinancing index, but if people can get jobs the 5.1% mortgage rate is still an attractive 30 year rate historically for a mortgage. New jobs may also allow someone to refinance whereas before they were not able to with their bank.

Euro Testing Previous Support Posted: 09 Feb 2011 03:11 AM PST You can see below that the EUR/USD is testing the 1.3615 level, which has shown the pair hourly support multiple times this month. A sustained move through this level could see the pair visit 1.35912; the 23.6% fibo line on the hourly move from February 2nd highs to the low on the 7th. Continued support could see the pair back at the 38.2% line.

UK trade balance -9.247B Posted: 09 Feb 2011 01:33 AM PST

UK Trade Balance in 15 Minutes.. Posted: 09 Feb 2011 01:14 AM PST

GBP/USD Advancing Posted: 09 Feb 2011 12:38 AM PST In recent trade, the GBP has been making gains against the USD and seems to be making a pass through the 23.6% line on the move from Feb 3rd highs to yesterdays lows. A close above this 1.6085 level could be a bullish signal in which case we would look to 1.61217 as the next target; both the 38.2% line and 100 hour moving average come in near this level.

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

Forex Market Updates & Commentary

---

• Lacker not ready to stop QE now
• The NY Morning Forex Commentary for Feb 8th is available for viewing
• GBPUSD tests and moves below 200 hour MA at 1.6059
• Lacker: Fed Should re-evaluate QE2
• Bobbys Corner-Open Market-Feb.8.2011
• Canada Housing Starts Lower
• PBOC Interest Rate increase sends AUDUSD lower, USDJPY higher
• The NY Opening Forex Commentary for February 8th 2011
• Canada Housing Starts Data due at 8:15AM
• German Dec. ind. production falls 1.5% from previous month
• German Ind. Production in 5 Minutes….
• China raises key interest rates by 25 basis points
• Cable reaches 23.6% line and reverses
• Cable Lower
• Swiss unemployment as expected at 3.5%

Lacker not ready to stop QE now Posted: 08 Feb 2011 07:29 AM PST Nevertheless, he say US Economic data stronger than he expected. Hard part will be timing the stimulus withdrawal

The NY Morning Forex Commentary for Feb 8th is available for viewing Posted: 08 Feb 2011 06:50 AM PST  Register for the FXDD Webinar this afternoon: Topic: Setting up your Metatrader Platform  In this lesson we will start at the very beginning and give an overview of the Metatrader platform so you can fully understand how to use the main tool of the trade.  Only when it becomes second nature to you, will you then be able to fully concentrate on your trading.  You might be surprised by some of the short cuts that will make your trading more efficient on the platform.  You need to register to attend.  Click on the link below:   http://forex.fxdd.com/100292/misc/fxdd-live-education-tuesday-at-4pm-with-greg-shawn

GBPUSD tests and moves below 200 hour MA at 1.6059 Posted: 08 Feb 2011 06:10 AM PST The 200 hour MA is being testing in the GBPUSD. That level comes in at the 1.6059 level. The GBPUSD has been pressured today on the back of an increase in tax on banks by the Chancellor of the Exchequer George Osborne. This is perceived to be a potential drag on bank lending.  The next target for the pair comes in at the 1.6035 level. Below that the 1.6013 level. This is the 50% retracement of the move up from the January 25th low to the high reached on February 3rd. The price should remain below the 1.6077-87 level in order to keep the bearish bias for the pair in tact. This level represents an intraday floor area over the last 24 hours (see chart below). The 1.6089 level is also the 38.2% of the days range which should solicit selling interest (with risk on a move back above this level).

Lacker: Fed Should re-evaluate QE2 Posted: 08 Feb 2011 05:49 AM PST The Feds Lacker is on the newswire saying the Fed should seriously re-evaluate QE2. He also says the US economy is growing at a steadily increasing pace and that he sees continued labor market improvement. Finally he sees robust consumer spending in 2011. Risks to the economy include housing but he commented that the industry represents about 2 1/4 percent of total output so the damage can be limited. What I might warn is that economic output from housing is small, but the impact of declining prices intensify the risk to other industries. When housing first started to falter, this argument was made with a blind eye to what a sharp decline in housing prices could do. Granted, most of the damage is known now, but it does not take away the magnification of housing on other sectors growth potential. Lacker is not a voting member on the FOMC. The USDJPY has moved higher off the comments.

Bobbys Corner-Open Market-Feb.8.2011 Posted: 08 Feb 2011 05:24 AM PST Good Morning: In a surprise move, China pushed interest rates higher by 25 basis points for the third time since mid October 2010-as the Chinese Government looks to stem the jump in inflation.  Oil, copper and emerging equity markets fell as concerns that the Chinese interest rates hike policy will slow the world’s fastest growing economy. The Korean Won rose-as speculation mounts that the Korean Central Bank will raise interest rates to combat rising inflation in that country also. Risk FX was boosted overnight as investors continue to put more capital in Asia.  Even the rate hike by China did not dampen the rally. Asian and European equity markets were mixed, while US Futures are slightly higher. Oil:$86.20                                                   Gold:$1351.60 TIME FOR EST. PRIOR 10:00A.M. IBD/TIPP ECONOMIC OPTIMISM FEB. 51.9O 10:00A.M. JOLTs JOB OPENINGS DEC. 3248 HAVE A GREAT DAY & GOOD LUCK

Canada Housing Starts Lower Posted: 08 Feb 2011 05:20 AM PST Housing Starts:  Survey: 173.5  Actual:  170.4  Prior:  171.5  Revised: 168.3 JAN vs. DEC Total:  170,400 vs.  169,000 3Month Avg:  178,433 vs  179,000 Urban Areas:  146,900 vs  149,500 Single Family:  64,000  vs  65,300

PBOC Interest Rate increase sends AUDUSD lower, USDJPY higher Posted: 08 Feb 2011 05:06 AM PST

The NY Opening Forex Commentary for February 8th 2011 Posted: 08 Feb 2011 04:45 AM PST

Canada Housing Starts Data due at 8:15AM Posted: 08 Feb 2011 04:31 AM PST

German Dec. ind. production falls 1.5% from previous month Posted: 08 Feb 2011 03:01 AM PST The euro sold off slightly following the release.

German Ind. Production in 5 Minutes…. Posted: 08 Feb 2011 02:54 AM PST

China raises key interest rates by 25 basis points Posted: 08 Feb 2011 02:31 AM PST

Cable reaches 23.6% line and reverses Posted: 08 Feb 2011 01:29 AM PST In the prior post we mentioned that the next target for the pair could possibly be 1.60918;minutes later is traded down to the line, made a new low of 1.6084, and immediately reversed and is back above 1.6100. The first significant level upward is 1.6127.

Cable Lower Posted: 08 Feb 2011 01:07 AM PST GBP/USD made a pass lower through an upward hourly trendline that started last friday. Some support was found yesterday near the 23.6% line on the move from Feb 3rd highs to Friday’s lows, and then the pair traded higher testing the 50.0% line; it has seen some recent selling and appears the next stop for it could possibly be 1.60918.

Swiss unemployment as expected at 3.5% Posted: 07 Feb 2011 10:48 PM PST

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

Forex Market Updates & Commentary

---

• The NY Morning Forex Commentary is available for viewing
• Canada Building Permits Come in a Touch Lower
• Bobbys Corner-Open Market-Feb.7.2011
• The NY Opening Forex Commentary for Feb 7th 2011
• Canada Building Permits Due at 8:30AM
• German factory orders drop to -3.4% from the prior month
• Euro-zone sentix investor confidence better at 16.7
• Due out at 4:30
• Cable Higher
• Shirakawa Comments
• Japanese Leading Index
• 2-7 Economic Calender

The NY Morning Forex Commentary is available for viewing Posted: 07 Feb 2011 07:09 AM PST The NY Morning Forex Commentary takes a technical look at the EURUSD, GBPUSD, USDJPY, USDCHF, EURJPY and USDCAD. The EURUSD is now below the 100 day MA at the 1.3530 level. This a key technical level to stay below today.. For the other key levels to watch today, click on the following video link:

Canada Building Permits Come in a Touch Lower Posted: 07 Feb 2011 05:33 AM PST Canada Building Permits (MoM):   Survey: 2.5%   Actual: 2.4%   Prior: -11.2%   Revised: -10.5% DEC (2010) vs DEC (MoM%) vs Dec (YoY%) Total Permits:  $5.6613  vs.  2.4% vs.  -5.0% Residential:  $3.7817  vs.  21.2%  vs.  -1.5% Nonresidential:  1.8796  vs. -22.0%  vs.  -11.5

Bobbys Corner-Open Market-Feb.7.2011 Posted: 07 Feb 2011 05:27 AM PST Good Morning: Rising corporate earnings, reduced tension in Egypt, global growth growing faster than expected were all causes for the JPY to lose ground overnight-as investors seek higher-yielding assets. Almost 2/3 of companies reported better than expected Q4 earnings.. India made comments that they expect their economy to grow the most in 3 years, while Indonesia’s economy grew at the fastest pace in 6 years.  Overall investors confidence grew after Egypt’s government met with opposition leaders to hopefully resolve the crisis. Asian equity markets were mixed, while European markets are higher-along with US Futures. Wheat prices rose over 1.1% and copper hit another record. Oil:$89.25                                              Gold:$1348.60  No major US data due out today. HAVE A GREAT DAY & GOOD LUCK

The NY Opening Forex Commentary for Feb 7th 2011 Posted: 07 Feb 2011 04:54 AM PST

Canada Building Permits Due at 8:30AM Posted: 07 Feb 2011 04:24 AM PST

German factory orders drop to -3.4% from the prior month Posted: 07 Feb 2011 03:02 AM PST The euro sold off slightly following the release.

Euro-zone sentix investor confidence better at 16.7 Posted: 07 Feb 2011 01:31 AM PST

Due out at 4:30 Posted: 07 Feb 2011 01:01 AM PST

Cable Higher Posted: 07 Feb 2011 12:07 AM PST Post-U.S. employment data on Friday morning, the GBP/USD completed a full hourly retracement on the move from Feb 1st lows to the high of 1.62761 on the 3rd. Since then, the pair has been trading steadily higher. It made a slight move above the 50.0% line, but could not close through the level; a close above 1.61557 would be a possible bullish signal for the pair in which case we could possibly see is move further towards the 38.2%. In the case that resistance is found here, the first target to the downside is 1.61273.

Shirakawa Comments Posted: 06 Feb 2011 09:09 PM PST BOJ Governor Shirakawa speaks in Tokyo: Recent data sends signals Japan emerging from slump. Data shows Japan is not doing so badly versus other countries. Japan must cut spending in real terms. No country can continue to run a deficit forever. Ample liquidity alone can’t solve deflation. Must maintain investor confidence in finances. Discussion TPP is a key to boosting Japanese growth. Inflation alone can’t fix the fiscal situation. Japan fiscal state is in very bad shape. Yen demand has risen due to safe haven perception. Must bear in mind global spillover of policies. Society needs credible promise to fiscal reform. Imbalances may warrant a rate hike even with low prices.

Japanese Leading Index Posted: 06 Feb 2011 09:01 PM PST Japan’s leading index came in at 101.4; slightly worse than the 101.5 forecast but better than the 100.6% prior reading. The market had a limited reaction to the release.

2-7 Economic Calender Posted: 06 Feb 2011 09:00 PM PST

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

Forex Market Updates & Commentary

---

• The FXDD Weekend Forex Technical Commentary
• Jumpstart with Jeff Baskin Monday Feb 7th 2011
• The Forex Week Ahead. A look at the major events and releases
• Live Education Tuesday Feb 8 with Greg & Shawn
• The NY Midday Forex Commentary is available for viewing
• EURUSD has a floor now and breaks through an intraday ceiling
• USDJPY test 200 hour MA at 82.01 area. Key level for the pair
• Rocks, Paper, Scissor? $ strength trumps CAD$ strength
• USDCHF moves toward Fibo retracement resistance
• USDJPY:Ignore the plunge and the spike and refocus on the rest

The FXDD Weekend Forex Technical Commentary Posted: 04 Feb 2011 02:10 PM PST

Jumpstart with Jeff Baskin Monday Feb 7th 2011 Posted: 04 Feb 2011 01:40 PM PST FXDD will be starting a new series of Monday and Wednesday basic Forex trainings with Jeff Baskin. Here is the sign up for Monday Feb 7th class- Register now and reserve your seat

The Forex Week Ahead. A look at the major events and releases Posted: 04 Feb 2011 12:49 PM PST If you would like to receive this report in PDF form, you need to opt into the FXDD distribution list.  To opt in please send me an email at greg@fxdd.com .

Live Education Tuesday Feb 8 with Greg & Shawn Posted: 04 Feb 2011 12:41 PM PST FXDD Live Education Tuesday at 4pm with Greg & Shawn >>Register now

The NY Midday Forex Commentary is available for viewing Posted: 04 Feb 2011 09:32 AM PST In the Midday report I look at something new and somethings old. The new is a technical look at a pair I don’t normally cover, but which a customer of ours made a special request for -the AUDNZD. This pair has been enjoying a rally of late but has some key resistance above that may limit the upside for the time being. The old is the standby’s like the EURUSD, GBPUSD and the USDJPY which has broken to the upside.

EURUSD has a floor now and breaks through an intraday ceiling Posted: 04 Feb 2011 08:25 AM PST The EURUSD is showing some signs of some profit taking as London and Europe head home. The price has had 3 lows in the 1.3543 area and the price has recently moved above the 1.3566 level that was the initial spike low and the corrective high off next low level. This should give shorts more of a reason to cover some of the shorts before the weekend and intraday buyers something to buy against (with limited risk - a break below the 3 lows is the stop loss). On the topside, the target would be looking toward the 1.3594 level which is the 38.2% retracement of the move down from the spike high after the unemployment report.

USDJPY test 200 hour MA at 82.01 area. Key level for the pair Posted: 04 Feb 2011 08:21 AM PST

Rocks, Paper, Scissor? $ strength trumps CAD$ strength Posted: 04 Feb 2011 08:02 AM PST

USDCHF moves toward Fibo retracement resistance Posted: 04 Feb 2011 07:46 AM PST

USDJPY:Ignore the plunge and the spike and refocus on the rest Posted: 04 Feb 2011 07:24 AM PST

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