User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Saturday September 26, 2009 - 07:10:22 GMT
Forex Hound -

Share This Story:
| | Email

Dollar Finishes in Position to Rally Next Week

The U.S. Dollar overcame early weakness to post a weekly closing price reversal bottom.  This move doesn’t turn the trend to up, but is a strong indication that the Dollar will rally for 2 to 3 weeks.  A follow-through rally through .7734 next week is needed to confirm the reversal bottom.  The main trend will turn up following a breakout over .7997.


To recap the market moving events this week, the Fed FOMC left interest rates at near historically low levels while deciding it was too early to pull out of is current stimulus plans.  The Fed also said the economy was improving especially in the housing and financial markets.  The FOMC also decided to slow down its debt buying plan by extending its program to purchase mortgage-backed securities into the first quarter of 2010.


Traders at first drove the Dollar to new lows for the week on the news, but quickly reversed themselves to the up side before the close on Wednesday.  Thursday’s action showed more strength in the Dollar as Wednesday’s daily chart reversal was confirmed.  Friday, U.S. Durable Goods were reported weaker than expected.  The Dollar gave back some of its gains on the news as this report indicated the U.S. economic recovery would be slow and labored.


The EUR USD is in a position to form a weekly closing price reversal top following a close under 1.4710.  The main trend on the daily chart is also set to reverse to the down side on a trade through 1.4611.  Based on the current chart pattern, look for the start of a 2 to 3 week break with 1.4425 the next down side objective.  Investors cite sluggishness in the U.S. economy as the main reason why demand for higher risk assets is set to decline.


The GBP USD is expected to finish near its weekly low.  With the main trend down and down side momentum building, traders should start to anticipate further weakness to at least 1.5271 over the near term.  Most of this week’s break was triggered by bearish comments from Bank of England Governor Mervyn King who stated in an interview that he favored a weaker currency.


The weekly USD CAD chart indicates that a double-bottom may be forming at 1.6305 and 1.0589.  This formation will be confirmed when the market trades through 1.1124.  The main trend on the weekly chart will also turn up on this move.  Based on the main range of 1.1124 to 1.1723, look for a retracement to 1.1156 to 1.1290.  Fundamentally, weaker equity and crude oil prices should keep the pressure on the Canadian Dollar.  The Canadian economy is likely to take a big hit if crude oil prices continue to weaken.


The USD CHF reached a new low for the year earlier this week on hopes of a stronger economic recovery in Switzerland.  Late in the week, the Dollar began to rally versus the Swiss Franc.  The current chart formation indicates the possibility of a weekly closing price reversal bottom.  A close over 1.2092 will create the bottom but a follow-through rally will be needed next week to confirm it.  The first upside objective is 1.0603 to 1.0702 if this reversal bottom is confirmed.


The USD JPY is expected to close near the low for the week.  This week’s strong Yen negated last week’s closing price reversal bottom in the USD JPY.  The charts now indicate the possibility of a break to the low for the year at .8711.  Repatriation by Japanese exporters triggered the start of the weakness in the USD JPY, but it was bullish comments by the Japanese Finance Minister that fueled Friday’s acceleration to the downside.  Look for the Yen to continue to rally next week as the Japanese government seems to have no intention of intervening.


Demand for higher yielding assets dropped after the Fed FOMC meeting on September 23rd.  The selling pressure hit the AUD USD harder than the NZD USD and now has the Aussie in a position to post a weekly closing price reversal top.  A close under .8673 forms a weekly reversal.  Based on the current weekly range of .8156 to .8788, look for a correction to .8472 to .8397 over the next 2 to 3 weeks.  The New Zealand Dollar broke from the high for the week, but remained in a position to close higher. 





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

Mon 10 Sep 2018
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 14:00 US- prelim University of Michigan

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