User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday November 9, 2004 - 08:35:17 GMT
Saxo Bank - www.global-view.com/saxo_bank/

Share This Story:
| | Email

Forex Trading Strategies by John Hardy at Saxo Bank

Trichet's Verbal Intervention Knocks EUR/USD back to support, but EUR/USD may be ready to rally to just short of 1.3100

Anticipation of whether the Fed will change its statement at tomorrow's FOMC meeting the key event risk through tomorrow.



November 9, 2004


Economic Data Today (all times GMT):

09:30 UK Trade Balance (Sep)
10:00 Germany/EU ZEW Surveys (Nov)
11:00 Switzerland SNB Governor Hildebrand to Speak
12:00 Sweden Industrial /Manufacturing Production & Industrial Orders (Sep)
15:00 US Wholesale Inventories (Sep)


Highlighted Economic Data this week:

WED: Japan Trade Balance, Japan Consumer Confidence, Norway CPI, UK BOE Inflation Report, US Trade Balance, US Weekly Crude Inventories, FOMC Rate Decision
THU: Japan CGPI, Australia Employment Data, Germany GDP, Switzerland Retail Sales, ECBs Trichet to Speak
FRI: New Zealand Retail Sales, Japan Industrial Production, Japan GDP, US Retail Sales, US University of Michigan Confidence


Market Commentary

Trichet finally sent the markets a warning yesterday in the wake of the just-adjourned G-10 meeting with a clear expression of disapproval of "brutal moves" in the currency markets - particularly EUR/USD, of course. This is the first real verbal intervention of any kind since the USD began breaking down through support about three weeks ago. But while the knowledge of disapproval is important for traders to recognize and creates some form of headwind for further progress higher - it doesn't really affect the fundamentals of the situation - only anticipation of real action (rate adjustments and/or actual intervention) could do that. Therefore - Trichet gave the market pause, but the market may be ready to charge higher once more. 1.2900 area in EUR/USD is key support.

We can't forget the upcoming Fed meeting - with the announcement in the early US afternoon. The Fed is sure to raise rates - but the market will focus more on whether the Fed changes its statement in any way. I don't think they will - and this would be considered bearish for the USD as many may be expecting a move to more hawkishness after the recent strongish US data.


Technical Comments

EUR/USD - faded back to the 1.2900 area support (and even briefly dipped below overnight) in the wake of Trichet's comments, but remains well-supported. The slight sell-off may be all we see for now, as EUR/USD may be primed for another rally higher - on through the 1.2985 top and to perhaps 1.3060 before finding the next resistance.

GBP/USD - got off to a false start on likely stop running yesterday as GBP/USD briefly had a look above 1.8600 before promptly getting pounded back to support just above 1.8500. That may be all the consolidation this currency pair needs, however, as GBP/USD may rev its engines and have a try higher towards the 1.8775 major resistance.

USD/CHF - made a marginal new low yesterday just below 1.1760 before bouncing higher to 1.1840 resistance. That resistance may hold as USD/CHF may probe lower still to perhaps 1.1660/80 before finding support. Watch out for SNB's Hildebrand today, as CHF could move either way on his comments.

USD/JPY - USD/JPY made another try higher to 105.75 resistance this morning. USD/JPY has lost some momentum in the short term and could rise back to 106.50 area resistance on the weakish Japan data overnight. Further out, however, USD/JPY could continue lower to 100.00.

EUR/JPY - EUR/JPY did find some support at the 136.20 support level. . If the USD continues to weaken, EUR/JPY may finally push above 137.00 and could go on to make an attempt at 139.00. 136.20/136.00 is a strong support area.

AUD/USD - made an ugly top by coming all the way back to the 0.7560 support area. A bit uncertain whether lower support around 0.7500 will be tested now, or whether AUD/USD is ready to charge higher again towards the 0.7700 target. The latter is the preferred case considering the outlook for the other USD currency pairs.

USD/CAD - CAD looks very strong as USD/CAD remained for the most part below Friday's lows for the balance of the day and even probed the 1.1900 area before bouncing somewhat. 1.1975 resistance may hold for now as USD/CAD may fall once more and test new areas below 1.1840.


=============================================


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 http://www.saxobank.com/?id=193&Lan=DA&Au=2&Grp=6.

 

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