Friday’s Session Kicks Off in Apocalyptic Fashion; Where is the Bottom?

By DailyFX on May 18, 2012 01:24:35 GMT

By Joel Kruger, Technical Strategist for DailyFX.com Panic, fear and uncertainty take hold of markets Euro looking to establish below 2012 lows from January Yen starts to find renewed bids on flight to safety status Eurozone political turmoil fuels intensified risk off trade Rating agency downgrades and Greek political developments weigh The risk liquidation continues [...]

Europe’s debt crisis joins governments and banks at the hip

Posted on May 19, 2012 12:38:00 GMT 12:38 PM | Originally posted at Los Angeles Times

…Last fall, it had become so difficult for banks in the 17-nation Eurozone to get commercial financing that “we were very close [to] having a collapse in the banking system in the euro area, which … would have also led to a collapse in the economy and to deflation,”…

• Dalai Lama meets fellow Nobel Peace Laureates, Awarded Gold Medal
  Posted on May 19, 2012 12:36:00 GMT 12:36 PM | Originally posted at Phayul
• Italy raises oil imports from Iran
  Posted on May 19, 2012 12:24:00 GMT 12:24 PM | Originally posted at Press TV
• Gold and other precious metals to regain positions
  Posted on May 19, 2012 12:17:00 GMT 12:17 PM | Originally posted at Dubai Chronicle

US Dollar Index Classical Technical Report 05.18

By DailyFX on May 18, 2012 01:37:38 GMT

The market has now taken out some major resistance by 10,100 to open the door for fresh upside and a bullish continuation over the coming weeks. Next key resistance comes in by the 10,300 area, although, with daily studies now overbought, look for opportunities to buy on dips back towards 10,000 where a fresh higher low is now sought out.

Learning the Lingo: Spot Rate

Spot Rate is the current exchange rate at which a currency pair can be bought or sold. The spot forex rate differs from the forward rate in that it prices the value of currencies compared to foreign currencies today, rather than at some time in the future. The spot rate in forex currency trading, is the rate that most traders use when trading with an online retail forex broker.