User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday December 31, 2007 - 12:46:28 GMT
FX Thoughts for the Day - www.fxthoughts.com

Share This Story:
| | Email

FX Thoughts for the day - Evening - 31-Dec-2007....1206 GMT

EURO, JAP YEN and EURO-YEN
---------------------------
Read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY by r
egistering at
http://www.kshitij.com/fxthoughts/fxthoughts.shtml#register

Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below
---------------------

Wishing ALL the readers of FX Thoughts a very Happy and Profitable New Year 2008
-----------------------------------------------------------------

USD-CHF @ 1.1247/52...Support at 1.1153-50
------------------------------------------
R: 1.1290 / 1.1326
S: 1.1200 / 1.1179 / 1.1153-50
USD-CHF did the unthinkable and fell to a low of 1.0896 in Nov-07, the first time ever since the 1970s. The lowest it had fallen before this was to 1.1120 in Apr-95. By falling to 1.0896 in Nov-07, it forced a lot of people to take huge hits on positions they had earlier taken betting that 1.10 would not be seen, let alone be broken. Having caused a lot of grief the market then promptly proceeded to move up, hitting a high of 1.1628 last week.

Looking at the Monthly closing chart, a trendline joining the Lows of Apr-95 and Dec-04 provides Support in the 1.10 region now. The question for 2008 is whether or not this Support will break. Given the overall negative sentiment for the Dollar, a test of 1.10 should at the least be anticipated.

Looking at the shorter term charts, USD-CHF hit a high at 1.1628 last week and then had a very sharp fall from there, in what is very possibly a resumption in the long-term downtrend, which the pair has been under since Sep-2007.

As such the pair is likely to fall towards 1.1000 or below over the next few weeks. However this week the Support would come in at 1.1153-50. Rallies could attract selling interest in the short term.

For today the Support is at 1.1200 and then at 1.1179, the statistically projected Max Low for the day. On the upside the Resistance is at 1.1290 and 1.1326, the statistically projected Max High for the day.

 
 GBP-USD @ 2.0003/07....Sideways Trend into 2008
-----------------------------------------------
R: 2.0040 / 2.0120
S: 1.9920 / 1.9850
The GBP-USD is in uptrend since 1.3677 (June 01), but it may have Resistance near 2.10. It was unable to sustain above it in early Nov-07 and is in corrective/bearish mode while below 2.01/2.02. It has potential to fall towards 1.9250 in coming months. January-08 could see a range of 1.95/2.01. Rallies towards 2.01, if seen, may be sold into. Note that the 200-Day MA is at 2.0161.

However, momentum studies suggest the market could be bottoming. It could suggest a sideways trend.


 
 AUD-USD @ 0.8778/84..Support at 0.8750
--------------------------------------
R: 0.8850 / 0.8889
S: 0.8750 / 0.8697
The Australian Dollar has been in an uptrend since 0.4846 (Sep-01). It entered a 3-year long sideways consolidation phase between 0.67-0.80 from 2003 to 2006. The long-term uptrend then entered its second upleg, rising from 0.7092 (Mar-06) to 0.94 (Nov-07).

There has been a profit-taking fall since the 0.94 high in November to the 18-Dec Low of 0.8554. It is likely to either consolidate sideways between 0.8650-0.8950 for a few weeks, OR fall towards 0.85-84 before embarking on a fresh upmove. For now, a rise past 0.92 looks difficult for the next few weeks.

Looking at the nearer term charts, AUD-USD has rallied well of its lows of 0.8554 (18-Dec), and has now gained for three weeks. However the important immediate Resistance for the week would be coming in at 0.8950. A rally above that is required to indicate further strength later on. Incase 0.8900-50 holds, then there could be a fall towards 0.8650 again before rallying. As such, trading could be tricky and uncertain, with a range between 0.8650 – 0.8950.

A sustained move above 0.8908 (Dec-07 High) would be very positive for the next few weeks, but appears unlikely.

Earlier today, the pair moved above an important trendline on the Daily Candles at 0.8800, joining the highs of 0.9076 (14-Nov) and 0.8908 (12-Dec), however that has been broken intraday subsequently. Immediately the Support is at 0.8750, on the trendline on the 4-Hourly joining the lows of 0.8569 (20-Dec) and 0.8725 (28-Dec). The statistically projected Max Low for the day is at 0.8697. On the upside the Resistances are at 0.8850 and 0.8889, the statistically projected Max High for the day. The pair is likely to stay quiet atleast for the next couple of days.

 

Happy Trading!
 

 

Forex Trading News

Forex Research

Daily Forex Market News
Forex news reports can be found on the forex research headlines page below. Here you will find real-time forex market news reports provided by respected contributors of currency trading information. Daily forex market news, weekly forex research and monthly forex news features can be found here.

Forex News
Real-time forex market news reports and features providing other currency trading information can be accessed by clicking on any of the headlines below. At the top of the forex blog page you will find the latest forex trading information. Scroll down the page if you are looking for less recent currency trading information. Scroll to the bottom of fx blog headlines and click on the link for past reports on forex. Currency world news reports from previous years can be found on the left sidebar under "FX Archives."



Elevate Your Trading With The Amazing Trader!

The Amazing Trader includes:
  • Actionable trading levels delivered to YOUR charts in real-time.
  • Live trading strategy sessions.
  • Market Updates with Trading Tools.

Register To Test Your Amazing Trader


Trading Ideas for 11 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Tue 12 Dec
09:30 GB- CPI
10:00 GB- ZEW Survey
13:30 US- PPI
Wed 13 Dec
00:30 AU- Employment
09:30 GB- Unemployment
13:30 US- CPI
15:30 US- EIA Crude
19:00 US- Fed Decision
Thu 14 Dec
07:30 CH- SNB Decision
All Day- Global- flash PMIs
12:00 GB- Bank of England Decision
12:45 EZ- ECB Decision
13:30 US- Retail Sales
13:30 US- Weekly Jobless
14:45 US- Industrial Production

Forex Trading Outlook


Potential Trading Opportunities

  • POTENTIAL PRICE RISK: Mediun Tue--10:00 GMT-- DE- ZEW. Second Tier Sentiment Survey
  • POTENTIAL PRICE RISK: HIGH-Medium Tue--13:30 GMT-- US- PPI

  • POTENTIAL PRICE RISK: HIGH-Medium Wed--09:30 GMT-- GB- Employment
  • POTENTIAL PRICE RISK: HIGH Wed--13:30 GMT-- US- CPI
  • POTENTIAL PRICE RISK: Medium Wed--15:30 GMT-- US- EIA Crude
  • POTENTIAL PRICE RISK: High Wed--19:00 GMT-- US- Fed Decision


  • POTENTIAL PRICE RISK: HIGH- Thu --00:30 GMT-- AU- Employment
  • POTENTIAL PRICE RISK: Medium- Thu --All day-- global- flash PMIs
  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --07:30-- CH- Swiss National Bank Decision
  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --09:30-- GB- Retail Sales
John M. Bland, MBA
co-founding Partner, Global-View.com EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated




TRADER ADVOCACY ARTICLES

Trader's Advocate Articles..

pic

Retail Forex Brokerage Changing!

Are you looking for your first broker or do you need of a new one? There are more critical things to consider than you might have thought.

We were trading long before there were online brokers. Global-View has been directly involved with the industry since its infancy. We've seen everything and are up-to-data with recent regulatory changes.

Our Best Brokers listing section includes:Forex Broker Reviews, Forex Broker Directory, Forex Broker Comparisons and advice on How to Choose a Forex Broker

If would like guidance, advice, or have any concerns at all ASK US. We are here to help you.

SEE Our Best Brokers List

Currency Trading Tools

  • Live rates, currency news, fx charts. 

  • Research reports and currency forecasts.

  • Foreign Exchange database and history.

  • Weekly economic calendar.

Directory of  Forex trading tools

 
Terms of Use    Disclaimer    Privacy Policy    Contact    Site Map


Forex Forum
Forex Trading Forum
Forex Forum + forex rates
Forex Forum Archives
Forex Forum RSS
Free Registration

Trading Forums
Currency Forum Guide
Forum Directory
Open Forum
Futures Forum
Political Forum
Forex Brokers
Compare Forex Brokers
Forex Broker News
Forex Broker Hotline

Online Forex Trading
Forex Trading Tools
Currency Trading Tools
Forex Database
FX Chart Points
Risk/Carry Trade Chart Points
Economic Calendar
Quicklinks to Economic Data
Currency Futures Swaps
Fibonacci Calculator
Currency Futures Calculator

Forex Education
Forex Learning Center
FX Trading Basics Course
Forex Trading Course
Forex Trading Handbook

Forex Analysis
Forex Forecasts
Interest Rate Forecasts
Central Bank Forecasts

FX Charts and Quotes
Live FX Rates
Live Global Market Quotes
Live Forex Charts
US Dollar Index Chart
Global Chart Gallery
Daily Market Tracker
Forex News
Forex Blog
Forex News
Forex Blog Archives
Forex News RSS
Forex Services
Forex Products
GVI Forex
Free Trials
FX Bookstore
FX Jobs and Careers
Jobs USA
Jobs UK
Jobs Canada

Forex Forum

The Global-View Forex Forum is the hub for currency trading on the web. Founded in 1996, it was the original forex forum and is still the place where forex traders around the globe come 24/7 looking for currency trading ideas, breaking forex news, fx trading rumors, fx flows and more. This is where you can find a full suite of forex trading tools, including a complete fx database, forex chart points, live currency rates, and live fx charts. In addition, there is a forex brokers directory where you can compare forex brokers. There is also a forex brokers hotline where you can ask for help choosing a forex broker that meets your individual fx trading needs. Interact on the same venue to discuss forex trading.

Forex News

The forex forum is where traders come to discuss the forex market. It is one of the few places where forex traders of all levels of experience, from novice to professionals, interact on the same venue to discuss forex trading. There is also the GVI Forex, which is a private subscription service where professional and experienced currency traders meet in a private forex forum. it is like a virtual forex trading room. This is open to forex traders of all levels of experience to view but only experienced currency tradingprofessionals can post.

Currency Trading

Currency trading charts are updated daily using the forex trading ranges posted in the Global-View forex database. You will also find technical indicators on the fx trading charts, e.g. moving averages for currencies such as the EURUSD. This is another forex trading tool provided by Global-View.com.

Forex Brokers

The forex database can be used to access high, low, close daily forex ranges for key currency pairs, such as the EURUSD, USDJPY, USDCHF, GBPUSD, USDCAD, AUD, NZD and major crosses, including EURJPY, EURGBP, EURCHF, GBPJPY, GBPCHF and CHFJPY. Data for these currency trading pairs dating back to January 1, 1999 can be downloaded to an Excel spreadsheet.

Forex Trading

Forex chart points are in a currency trading table that includes; latest fx tradinghigh-low-close range, Bollinger Bands, Fibonacci retracement levels, daily forex pivot points support and resistance levels, average daily forex range, MACD for the different currency trading pairs. You can look on the forex forum for updates when one of the fx trading tools is updated.

FX Trading

Global-View also offers a full fx trading chart gallery that includes fx pairs, such as the EURUSD, commodities, stocks and bonds. In a fx trading world where markets are integrated, the chart gallery is a valuable trading tool. Look for updates on the Forex Forum when the chart gallery is updated.

Forex Blog

Global-View.com also offers a forex blog, where articles of interest for currency trading are posted throughout the day. The forex blog articles come from outside sources, including forex brokers research as well as from the professionals at Global-View.com. This forex blog includes the Daily Forex View, Market Chatter and technical forex blog updates. In additional to its real time forex forum, there are also Member Forums available for more in depth forex trading discussions.

 

WARNING: FOREIGN EXCHANGE TRADING AND INVESTMENT IN DERIVATIVES CAN BE VERY SPECULATIVE AND MAY RESULT IN LOSSES AS WELL AS PROFITS. FOREIGN EXCHANGE AND DERIVATIVES TRADING IS NOT SUITABLE FOR MANY MEMBERS OF THE PUBLIC AND ONLY RISK CAPITAL SHOULD BE APPLIED. THE WEBSITE DOES NOT TAKE INTO ACCOUNT SPECIAL INVESTMENT GOALS, THE FINANCIAL SITUATION OR SPECIFIC REQUIREMENTS OF INDIVIDUAL USERS. YOU SHOULD CAREFULLY CONSIDER YOUR FINANCIAL SITUATION AND CONSULT YOUR FINANCIAL ADVISORS AS TO THE SUITABILITY TO YOUR SITUATION PRIOR TO MAKING ANY INVESTMENT OR ENTERING INTO ANY TRANSACTIONS.

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105