User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday October 27, 2004 - 09:10:33 GMT
Saxo Bank -

Share This Story:
| | Email

Forex Trading Strategies by John Hardy at Saxo Bank

USD may wilt again as EUR/USD focuses on 1.2900 top.

Latest polls show John Kerry gaining some steam.

October 27, 2004

Economic Data Today (all times GMT)

07:30 Sweden Consumer/Manufacturing Confidence (Oct)
08:30 UK Mortgage Lending Figures
12:30 US Durable Goods (Sep) expected at +0.5%
14:30 US Weekly Crude Inventories

Market Commentary

We saw the expected dip yesterday in EUR/USD, but USD may weaken further until Friday's GDP data. With expectations lowered by the poor US Consumer Confidence showing yesterday, the "surprise side" (the side that unleashes the most volatility) on Friday would be a strong number. Perhaps even an "as expected" number would hurt bonds and therefore aid the USD, at least temporarily. Until that release, however, things don't look so bright for the USD - and the recent rallies against the dollar look set to continue today and tomorrow.

On the presidential election front, an ABC/Washington Post poll out yesterday - the first major poll in a few days - shows Kerry with a slight advantage over Bush, which goes against the results from some of the other major polls. This election is going to be a nail-biter.

Technical Comments

EUR/USD - fell yesterday to the 1.2730 area. There is some risk of a further dip to 1.2700, but support may be forthcoming and EUR/USD may charge higher once more before the US GDP release on Friday - perhaps as high as the 1.2900 top or just beyond. Things may get a bit choppy from there, but EUR/USD has launched a new bull market that may carry it to 1.3000 and beyond some time after the US election next Tuesday.

GBP/USD - GBP/USD has so far survived a test of the 1.8320/00 area support and rallied just short of 1.8400. GBP/USD may charge higher once again after another test of support and break through the 1.8450 resistance for one surge higher before Friday. The next resistance comes in at 1.8775, though it may take some time before that level is attained. Eventually, GBP/USD may look to challenge the 1.9100 top from February.

USD/CHF - consolidated higher toward 1.2050. The consolidation may not be completely over with, as USD/CHF could edge toward the 1.2100 before finding firmer resistance and dipping back toward the 1.1925 low from yesterday. USD/CHF may turn volatile on Friday's US GDP report, but once through this and the Presidential Election, USD/CHF may fall to 1.15 in the coming weeks.

USD/JPY - has been nervous on the series of earthquakes hitting Japan. Consolidated once more toward 107.00 after making a stab at the 106.25 low from Monday. USD/JPY may consolidate a bit higher still if it breaks back through 107.10 (107.50 - 108.10) as the market frets about the Friday's US GDP release. Further out, the currency pair my find firm resistance and making a try for new lows post-US election. The initial target is 105.20.

EUR/JPY - simply cannot decide what to do as yesterday's massive drop was met with a quick uptick overnight. Trigger levels are 135.50 and 137.00. A break of 137.00 could swing EUR/JPY through 137.50 and on to a challenge of the 139.00 top.

AUD/USD - consolidated back toward 0.7430 in an orderly fashion and bounced sharply this morning. Another surge beyond 0.7500 and to perhaps 0.7620 may be in the wings before Friday's big US GDP release. Beyond the US presidential election (and after a likely bout of volatility just before and after that event) AUD/USD may go on to challenge the 0.8000 level once again.

USD/CAD - consolidated higher toward 1.2300 resistance, but has fallen again since then. Crude oil quickly found terra firma yesterday and USD/CAD may be ready for another descent to 1.2100 if oil stays bid and the USD is weak. Further out, USD/CAD may continue its descent to 1.2000.


Saxo Bank A/S accepts no responsibility for the accuracy or completeness of any information here in contained nor for any forecasts or recommendations. Saxo Bank A/S shall not be responsible for any loss arising from any investment based on any recommendation, forecast or other information herein contained. The contents of this publication should not be construed as an express or implied promise, guarantee or implication by Saxo Bank that you will profit from the strategies herein or that your losses in connection therewith can or will be limited. Stops may not necessarily limit losses to intended levels. Please read the full disclaimer at


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."

Actionable trading levels delivered to YOUR charts in real-time.

Register To Test Your Amazing Trader

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Tue 17 July 2018
AA 08:30 GB- Employment
A 13:15 US- Industrial Production
AA 14:00 US-Powell Testimony
Wed 18 July 2018
AA 08:30 GB- CPI
A 12:30 US- Housing Starts/Permits
AA 14:00 US-Powell Testimony
Thu 19 July 2018
AA 1:30 AU- Employment
AA 08:30 GB- Retail Sales
A 14:30 US- EIA Crude
A 12:30 US- Weekly Jobless
Fri 20 Jun 2018
A 12:30 CA- CPI/Retail Sales

John M. Bland, MBA
co-founding Partner,

Global-View Affiliate Program

We are starting an affiliate program to market some of our products.

Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.

Put the word "affiliate" in the email subject line.

Contact us

Start trading with forex broker Markets Cube

Max McKegg's Daily Forex Trading Forecasts

Veteran FX Trader, Max McKegg, forecasts all the Major currencies and the Australasians; providing Daily and Medium Term Trading forecasts to subscribers, who include large Banks the world over, as well as individual traders in more than 30 different countries.

Request a TRIAL of Max's Forex Service.


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

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 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 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.



By using this website, you are agreeing to our Privacy Policy and Terms of Use, and Cookie Policy

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