The U.S. Dollar tried to mount a comeback at the mid-session
but failed to sustain upside momentum and finished the day down but off the
low.The Dollar was down most of the day
and traders renewed interest in riskier assets on optimism that the Dubai World
credit issue would resolve itself. Investors seemed tentative to pound the
Dollar lower which could be an indication that problems are not over. Breaking
last weekâ€™s Dollar Index low at 74.27 will be an indication that global
investors consider this matter to be a local issue rather than a possible
Todayâ€™s better than expected Institute for Supply
Management-Chicago business index also helped hold the Dollar in check.
A rise in consumer prices helped boost the EUR USD overnight
but the inability to take out the recent high for the year at 1.5144 is helping
to generate new selling pressure.The
main trend will turn down when 1.4801 is penetrated.The return of an appetite for risk driven
market will help the Euro maintain its upside momentum.
The GBP USD was the first currency pair to turn lower this
morning after the British Pound failed to hold onto earlier gains. Pressure came
from a report showing that U.K.
consumer confidence unexpectedly weakened and a general feeling that the U.K. economy
will continue to weaken over the short-term despite massive amounts of stimulus
being pumped into the financial system. More selling pressure could hit this
market if last weekâ€™s bottom at 1.6292 violated.Watch for a hard acceleration down if the
pair of main bottoms at 1.6261 and 1.6250 fail to hold.
Last week the USD JPY hit a 14-year low last week at
84.83.Todayâ€™s action looked as if
traders are adjusting to oversold conditions.The fundamentals still call for a stronger Yen as the U.S. economy is continuing to show
signs of weakness. Continue to look for sideways to lower trading unless this
market regains the old bottom at 87.99.
Speculators are also a little confused as to whether the
Japanese government will intervene.It
is well-known that they are concerned about the detrimental effect a rise in
the Yen has on exports, but traders arenâ€™t sure if the BoJ will intervene to
pressure the Yen.Japanese Finance
Minister Fujii said over the week-end that the government wonâ€™t act to curb the
Yenâ€™s gains, but later denied the comment. Shirakawa from the Bank of Japan
says itâ€™s up to the government to make the call.This indecision should create volatile
According to the recent Commodity Futures Trading Commission
Commitment of Traders Report, speculators increased bets that the Swiss Franc
will outperform its peers.Last week the
Swiss Franc rose to parity with the Dollar.The main trend in the USD CHF is down and the only thing that can stop
the decline is an intervention by the Swiss National Bank. Some say the SNB
acted on the Swiss Franc last week in order to prevent deflation.
The USD CAD is in an uptrend, but short-term range
bound.Resistance is at 1.0730.Support has formed at two main bottoms at
1.0449 and 1.0416.Equity and crude oil
markets will dictate the direction of this currency.The longer this market remains wound in a
tight range, the stronger the move will be once this range is broken. Because of its heavy reliance on outside
markets, this market could sit inside a range over the near-term until stocks
make a new high.
The failure of the equity markets to follow-through to the
upside helped the AUD USD erase some of its overnight gains.Renewed demand for higher risk assets gave
the Aussie a boost overnight and early in the New York session. The recent decoupling from
the equity markets during the recent stock market rally is an indication that
the selling is greater than the buying at current levels. The main trend is now
down and the current lower-top, lower-bottom formation indicates that selling
pressure is beginning to build.
Tomorrow the Reserve Bank of Australia is expected to raise its
benchmark interest rate by 25 basis points.This may have helped give the market a boost today.Traders remain tentative about aggressively
buying this currency because of the possibility that this rate hike may be last
for several months. The activity out of Dubai
the past few days is raising some concerns about Australiaâ€™s exposure to emerging
The main trend is down in the NZD USD.The charts indicate that .6914 to .6744 is
the next potential downside target.Diminishing demand for higher risk assets could pressure this market
until the end of the year.Mondayâ€™s
sell-off from the high is an indication that shorts are looking for rallies to
sell. Like Australia, the New Zealand
economy may be facing heavy exposure to emerging market debt.This could pressure the economy if it proves
to be true.
Forex Trading News
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
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.
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.com
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.
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.
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.
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.
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 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.
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 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.
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.
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.