Contributors
TIC Report Shows Less Capital Flowing Into The U.S.
Want to know what foreigners think of what is going on in the U.S. right now? Check out the Treasury International Capital report (TIC). This shows how much money is coming into the U.S.
NZD/USD Confirms Double Bottom Above 0.8260 and Opens Up 0.8380
Forex Technical Update Previous: Outlook for NZD/USD Based on Wave Structure; Case for 0.77 (9/7) NZD/USD The NZD/USD chart in the 1H time-frame is showing a confirmation of a double bottom. 1) a break above 0.8260 establishes the bottoming pattern. Price action at this borderline was strong, and also broke above the 200 simple moving average.
EUR/GBP Breaks Below Short-term Channel Support
Forex Technical Update Prev: EUR/GBP Bounces off Rising Trendline Since June 2010 (9/12) EUR/GBP The EUR/GBP chart in the 1H time-frame shows a rising channel this week, broken as we head into the US session on Friday.The RSI shows that the decline is killing the bullish momentum, and if the EUR/GBP falls back below the 200 simple moving average, we can say the bullish mode is invalid, and the market is either ranging or in bearish continuation. The bearish outlook is at first limited to a very short-term target at the 0.8637 pivot. This is also near the 0.8628 , 61.8% retracement level.
EUR Weaker on Finland, EU Finance Minsters Meet; Osborne Calls for Clear Signal from Europeans
EUR – The euro was a weaker overnight as traders eye a very important meeting between European finance ministers, while the immediate pressure came from the Finland collateral issue. A solution to Finland’s demands for collateral in order to participate in the second Greek bailout is unlikely to come today according to the Finland Finance Minister. This issue has been one of the pressure points on the Euro during the past few weeks, as it shows divisions within the European ranks.
Don’t Expect Much from the Fed Next Week
The economic data released yesterday in the U.S. couldn’t have been worse. US jobless claims unexpectedly rose for a second straight week to the highest level since late June. And higher prices for rent, clothing and cars accelerated inflation to the fastest annual pace in nearly three years.
EUR/USD at Technical Crossroad; Short-term Structure and Pivots
Forex Technical Update Prev: EUR/USD Completing a Flag Pattern (9/14) EUR/USD EUR/USD looked like it was going to complete a flag pattern, but failed to break to the downside. Instead, it broke to the upside, and has since accelerated the rally that is looking less and less like a correction rally. The 1H chart pushed the RSI above 70, establishing bullish momentum in the short-term. Price action also broke above the 200SMA, a reflection that the market is not bearish in the short-term
ECB to Offer Liquidity with 3-Month Dollar Loans, Forex in Risk Rally Mode
The main story behind today’s trading, which included risk on rally in New York trading session, was a move by the ECB to coordinate with other central banks – mainly the Fed – to offer three – month US dollar loans to commercial banks. The ECB move was done in coordination with the US Federal Reserve, the Bank of England, the Bank of Japan and Swiss national Bank. That idea behind the moves to make sure that companies have liquidity and access to dollars through the end of the year. The move had a positive effect with European bank shares rallying strongly
AUDCAD – Waiting for the range breakout
I like the way the AUDCAD has been trading in the last few months, smoothly from one LT level to the other, making it easy to trade. Right now I see it trading pretty close to the LT support level and this is how it looks on the short term charts: I’m currently waiting for
Look to the Banks to See How the Economy is Doing
How To Escape From America, and Where to Go Discover the best way to escape from America’s collapsing economy in this free report . Enter your Email Address Here: Privacy Policy Sovereign Investor FAQ If you want to really know what savvy investors think of how the economy is doing, just look to their stock prices. Are they nearer to their 52-week lows or 52-week highs? When savvy investors feel that the economy is on a solid footing, they buy up the “financiers of economic expansion”
EUR/JPY in an Ascending Triangle Breakout to the Upside; Targets 106.80-107.00 if Confirmed
Forex Technical Update EUR/JPY EUR/JPY has been consolidating this week like many other euro-crosses. The 1H chart shows that the consolidation has been in an ascending triangle , where the resistance has been similar, and the support has been rising. Over the Thursday European session, there was inflation data that came out as expected (Aug CPI y/y 2.5%, July: 2.5%; Core CPI y/y: 1.2%, July: 1.2%).
Greece Default Averted for Now, Euro Crisis Eases on German, French, Greek Conference & Eurobonds Idea
Today’s session saw several factors come together for the euro, helping it to expand on its gains from the previous two sessions. Immediate Greece Default Fears Subside Post Conference Call The conference call between French president’s Sarkozy and German Chancellor Merkel as well as the Prime Minister Papandreou ended with markets taking a positive tone, with the immediate threat of a Greek default seeming to wane. Greece reaffirmed its commitment to its austerity budget plan and France and Germany said that they are convinced Greece should remain in the euro.
The Currency to Own this Decade
(Hint: It’s Not the Iraqi Dinar) By Sean Hyman, Editor, Currency Cross Trader It’s a strange currency world we live in. The two most traded currencies – the dollar and euro – are both suffering. The euro is fighting an uphill battle with a sovereign debt crisis, while the dollar is paying the price for [...]
The Chocolate Tsunami
How Events in Switzerland May Well Impact the Japanese Yen Andrei Knight, Senior Currency Strategist, fxKnight.com A devastating earthquake off the coast of Japan on March 11th triggered a tsunami so powerful, that over 8000 miles away it knocked off a section of the Sulzberger ice shelf in Antarctica the size of Manhattan. Last week’s [...]
Finally, a trade on the EURUSD
You know that I haven’t had a trade on the EURUSD in a while, and recently I moved the EURUSD to the tradable side of currency pairs, and guess what? Just got my first signal on the EURUSD in the last months: Here are the details of my trade: Entry: 1.3694 SL: 1.3756 TP: 1.3454
How to use the weekly charts on Forex?
Let me tell you what I do with the weekly charts. Its known that the longer the time frame the more important it is, so when you do analyze the hourly and the daily charts, what you see on the daily charts it’s more important than what you see on the hourly, its more accurate,
Added to my GBPCAD Trade
Do you take partial profits when the market moves on your favor? I don’t, I do exactly the opposite. When the market moves on my favor I trade to add to my trade (if I get a new signal). Why would I make smaller my trade, when the market is telling me that I probably
EUR/USD Seen Completing a Flag Pattern
Forex Technical Update Prev: EUR/USD Ranging Between 1.3556 and 1.37 (9/13) EUR/USD EUR/USD continues to recover after 2 weeks of sharp declines. The market seems to have found some reprieve after pricing in default or large write-down of Greek bonds. The had found support just below 1.35 . Compared to the sharp declines we saw in earlier weeks, this week’s rally has been very choppy and thus is still considered a correction and not a reversal.
AUD/USD: Consumer Confidence to Help Tell The Tale of Australian Economy
The Australian dollar had been a star performer throughout the 2009 and 2010 during the height of carry trade brought about by the Fed’s quantitative easing. The economy was able to skirt a recession in 2008, and thanks to its mining sector, the unemployment rate below 5%. However, recently the economy has not been showing very positive signs. Can Business Confidence Report Shift the Fundamental Bias of AUD
Toyota & Volvo Plagued by Extreme Currency Moves.
Last night, Fitch downgraded Toyota and its affiliates because of FX volatility and because of the toll of the strong yen. They said Toyota has the most exposure out of all of the Asian auto exporters because they still manufacture 40% of their autos locally in Japan. Then today, Swedish automaker Volvo is considering setting up a production facility in the U.S. to help them to manage their currency risks.
Gold in a Bubble? Not Yet.
Solid Proof the Gold Market is Alive and Well Evaldo Albuquerque, Editor, Exotic FX Alert From 1998 to 2000, shares of a company named Inktomi Corp went up 1,900%. Then in 2000, this stock hit its all-time high of $231.62. It had to be a great business, right? Wrong. Actually, the company never made a [...]
