equity markets finished lower for the week after buyers failed to surface
following todayâ€™s better than expected U.S. Initial Claims Report.
End-of-the-year profit-taking was most likely the catalyst behind the drop in
The March E-mini S&P 500 formed a new main top on the
daily chart at 1128.50.Based on the
short-term range, the first downside objective is 1108.50 to 1103.75.There could be a technical bounce at this
level but a break through it is likely to trigger an acceleration to the
downside.The main trend will remain up
until the main bottom at 1088.50 is penetrated.
March Treasury Bonds penetrated the last swing bottom at
114â€™26 but closed off the low.Traders
sold off the T-Bonds following the release of the better than expected U.S.
Initial Claims Report.Traders felt that
the friendly report indicated the Fed will be getting closer to raising
interest rates. This marketâ€™s ability to regain the old bottom at 114â€™26
indicates that there may be one more surge to the upside.This will only take place if the last main
top at 115â€™29 is penetrated.
February Gold weakened a bit into the close as the Dollar
strengthened but still managed to close higher.The chart formation indicates the main trend will turn up on the daily
chart, following a break out over $1114.50.This move could trigger an acceleration to $1151.30 to $1169.30 over the
short-run.The key to triggering this
upside breakout will be the emergence of new buyers between $1094.80 to
March Crude Oil closed higher in limited action.Signs that the economy may be picking up,
continues to underpin the market. $81.52 is the next upside target.The first sign of weakness will be a closing
price reversal top.If this pattern occurs,
then look for the start of a break back to 77.12 to 76.27.
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 morningâ€™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 monthâ€™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. Thursdayâ€™s sell-off stopped just short of testing the bottom at
This morning, the daily chart pattern in the March Euro
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 1.4677 to 1.4786. 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 March British Pound followed through to the upside after
Wednesdayâ€™s spectacular turnaround.The
daily chart indicates that this market has room to the upside with 1.6351 to
1.6475 the next objective. The tone was firm today although the Pound closed
slightly off its high.
The March Japanese Yen tumbled after a steady to higher
opening and accelerated to the downside 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 resistance is
being formed at 1.0886.A break through
this level could trigger an acceleration to the upside to 1.1024. The main
trend on the weekly chart turned down this week when the market crossed the
last main bottom at 1.0847.
The March Swiss Franc traded higher overnight but managed to
take back most of the gain during the New York
session as the friendly U.S.
initial claims report pressured the market throughout the day. The daily chart
indicates the minor trend will turn up following a rally through .9734.The first upside objective is a retracement
zone at .9806 to .9873. Taking out the bottom end of a retracement zone at .9603
will put the Swiss Franc in a weak position.
The March Canadian Dollar had an inside day, but closed lower.
After a 50% correction of its recent rally, the Canadian Dollar saw buying
pressure early but turned around after the .618 retracement level at .9574 was
tested. Short-term support is at .9476 to .9435.Investors seem content with letting this
market remain rangebound albeit under volatile conditions.
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."
Elevate Your Trading With The Amazing Trader!
The Amazing Trader includes:
Actionable trading levels delivered to YOUR charts in real-time.
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.