User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday December 31, 2009 - 23:39:39 GMT
Forex Hound - www.forexhound.com

Share This Story:
| | Email

Dollar Finishes Nearly Unchanged Following Volatile Trade

The U.S. Dollar finished nearly unchanged in a volatile trade, highlighted by a choppy two-side market.  Late last night, the Dollar was down sharply against most major currencies on end-of-the-year position squaring.  Throughout the night, however, a support base was built as traders awaited this morning’s U.S. Initial Claims Report.  The Dollar surged to the upside following the release of the better than expected claims report.  Traders reacted positively to the good news as it indicated the economy was still on track for a recovery, and the Fed would have to consider hiking interest rates sooner rather than later.

 

Next week the Dollar faces potentially volatile conditions as the bigger players return to work after an almost two week absence. Trading could get wicked as traders position themselves ahead of the U.S. Non-Farm Payrolls Report on January 8th.

 

This report is likely to set the tone for the Dollar for several months.  Last month’s report showed a surprising drop in the unemployment rate from 10.2% to 10.0%.  Traders will be watching the next report to see if the last report was an aberration or the start of a trend.  The direction of the Dollar for several months will be decided by this report. A better than expected number should put the pressure on the Fed to begin raising interest rates before the start of the third quarter.  A bearish report will mean the Fed will wait until after June.

 

Technically, the daily chart is indicating the Dollar Index is ripe for a near-term correction.  A trade through 77.33 will turn the main trend to down and set up a correction to 76.31 to 75.80. Thursday’s sell-off stopped just short of testing the bottom at 77.33.

 

This morning, the daily chart pattern in the EUR USD suggested the minor trend was ready to turn up on a trade through 1.4457, but sellers stepped in after the friendly U.S. initial claims report to pressure the Euro. No actual damage was done to the chart formation so the first upside objective over the short-term remains 1.4680 to 1.4790. Whether traders go after this level will be determined by a slew of U.S. economic reports next week especially the employment report on January 8th.

 

The GBP USD followed through to the upside after Wednesday’s spectacular turnaround.  The daily chart indicates that this market has room to the upside with 1.6355 to 1.6478 the next objective. The tone was firm today although the Pound closed slightly off its high.

 

The USD JPY rebounded after a steady to lower opening and surged to the upside following the release of the better than expected initial claims report. This report signaled an improving economy and put the Japanese Yen in a position to weaken further. Minor support is being formed at 91.90.  A break through this level could trigger an acceleration to the downside to 90.50. The main trend on the weekly chart turned up this week when the market crossed the last main top at 92.32.

 

The USD CHF traded under pressure overnight but managed to take back most of the loss during the New York session as the friendly U.S. initial claims report underpinned the market throughout the day. The daily chart indicates the minor trend will turn down following a break through 1.0278.  The first downside objective is a retracement zone at 1.0212 to 1.0143. Regaining the top end of a retracement zone at 1.0419 will put the Swiss Franc in a weak position.

 

The USD CAD had an inside day, but closed higher. After a 50% correction of its recent break, the USD CAD felt selling pressure early but turned around after the .618 retracement level at 1.0459 was tested. Short-term resistance is at 1.0555 to 1.0600.  Investors seem content with letting this market remain rangebound albeit under volatile conditions.

 

The AUD started higher this morning buoyed by higher global equity markets.  The surge to the upside took the Aussie into a retracement zone at .8964 to .9018 where it died when volatility slowed throughout the trading session. A close over .8964 is an indication of strength, but the .618 price at .9018 has to be taken out to accelerate this market to the upside.

 

The NZD USD surged to the upside after breaking through a downtrending Gann angle from the .7529 top at .7219 on Thursday.  Profit-taking along with the late session sell-off in the U.S. equity markets limited gains and drove the New Zealand Dollar off its high.  Watch for a possible retracement to .7185 to .7144.

 

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 25 July 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Tue 25 Jul
08:00 DE- IFO Survey
14:00 US- CB Consumer Confidence
Wed 26 Jul
07:30 AU- CPI
08:30 GB- GDP
14:30 US- EIA Crude
18:00 US- Fed Decision
Thu 27 Jul
12:30 US- Weekly Jobless
Fri 28 Jul
12:30 US- GDP
14:00 US- University of Michigan

Forex Trading Outlook

Event Risk Agenda

  • EVENT RISK: Medium Tue-- 08:00 GMT DE IFO Survey. This is oldest, largest and by far most respected survey of the German econony. I feel it tends to have a positive bias. Perhaps because of this it is not as much of a market-mover as it once was.

  • EVENT RISK: High-to-Medium Tue-- 14:00 GMT US CB Consumer Confidence. This is one of oldest and most respected U.S. sentiment surveys. It can be a market-mover.

  • EVENT RISK: High Wed-- 08:30 GMT GB- GDP. This can be a market-mover.

  • EVENT RISK: High Wed-- 18:00 GMT US- FOMC Decision. No policy changes are expected. No press conference is scheduled GDP. Any meeting can be a market-mover.

  • EVENT RISK: Low Thu-- 12:30 GMT US- Weekly Jobless Claims. The most up-to-date reading on employment. Rarely much of a market-mover given the current low level of claims.

  • 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