The U.S. Dollar is trading weaker overnight after rallying
to a 5-week high.The current rally from
the bottom at 74.27 is stopping short of the November 20th top at 76.50.Technical factors indicate an overbought
market which could correct back to 75.26 over the short-term before taking
another shot at turning the main trend higher.
Concern over global debt issues triggered by credit rating
downgrades in Dubai and Greece should continue to hang over
the market.Traders will be watching
these two nations for signs that their situations are spreading to other
The EUR USD is mounting a mall recovery after selling off
sharply yesterday.The overnight rally
is related to technical factors because the fundamental picture is beginning to
develop a bearish look.The chart
pattern suggests that the next downside target is 1.4625 although a retracement
of the current break is not out of the question.The old bottom at 1.4801 is the first likely
Early this morning the Japanese government released a worse
than expected Third Quarter GDP Report.The actual report showed an increase of 0.3% versus the preliminary
guess of 1.2%.Nonetheless, traders are
reacting to generally weaker global equity markets and risk aversion caused by
debt concerns.Overnight the USD JPY
reached its first retracement objective at 87.80.Further weakness could send this market to
87.10.Oversold short-term conditions
could trigger a short-covering rally back to 88.57.
The GBP USD finally broke through a key 50% price at 1.6287
and the October bottom at 1.6245 overnight, stopping short of a Fib retracement
price at 1.6148.Short-term conditions
led to buying which now has this currency pair in a position to post a daily closing
price reversal bottom.Profit-taking and
short-covering is most likely being triggered by position evening ahead of
tomorrowâ€™s Bank of England policy meeting.The BoE is expected to leave interest rates unchanged and its asset
buyback program untouched.Today the U.K. government
is going to release plans to short up its budget.This may include the proposal of special
taxes on bank bonus pools. Traders will also be keeping an eye on the debt
situation in Dubai
because some U.K. bank may face exposure to the bad debt.
Yesterday the Bank of Canada announced that interest rates
would remain at 0.25 percent until at least June 2010 and that it was still
concerned about the strength of the currency and its possible negative affect
on exports.This news helped send an
already strong USD CAD sharply higher.Overnight
the Canadian Dollar is trading better as profit-takers are controlling the
market. Technically, this currency remains rangebound with trading on both
sides of the 50% price at 1.0598 likely.
Overnight the USD CHF made an attempt to test the November
top at 1.0337 but failed.The current
chart formation suggests a possible closing price reversal top formation at
1.0290.The current loss in the USD CHF
could be extended if gold begins to mount a rally or if traders decide to take
profits ahead of tomorrowâ€™s central bank meeting.
On December 10th the Swiss National Bank is expected to
leave its benchmark interest rate unchanged and offer clarity as to its future
monetary policy plans.Most traders
expect the SNB to discuss its concerns about deflation and the possibility of
another round of intervention if the Swiss Franc appreciates too much against
The AUD USD is mounting a strong recovery after trading
lower overnight.Oversold conditions
triggered profit-taking which led to the current short-covering rally. Last
night it was reported that the Australian economy is beginning to show signs of
weakness after three interest rate hikes.Higher borrowing costs contributed to drops in consumer confidence, home
loans and investment lending.There is a
possibility that this market could rally back to .9167 before selling pressure
Tomorrow traders will be looking for the Reserve Bank of New
Zealand to leave interest rates at 2.5% until at least the Third Quarter 2010
when it makes its monetary policy statement. Unemployment and a drop in exports
continue to slowdown the economy. Overnight the NZD USD turned to the upside
after initial weakness.The current
short-covering rally could trigger a test of .7171 to .7201 before new sellers
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.
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.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.