Mondayâ€™s strong rally in global stock indices and break in
the Dollar renewed talk of the resumption of the negative correlation between
global equity markets and the U.S. Dollar. Aggressive traders appeared to be
already placing bets today that the Fed would continue to leave interest rates
low for a prolonged period of time.Todayâ€™s action suggests that investors could be getting comfortable with
taking on more risky assets once again.
The chart pattern in the U.S. Dollar Cash Index suggests
that a new secondary lower top is forming at 78.22 and that the trend is poised
to turn down on a break through the last main swing bottom at 77.33. The next
downside objective is 76.31 to 75.80, which gives the market plenty of room to
The Dollar opened the first trading session of the year slightly
better but a strong surge in U.K.
manufacturing data helped to pressure the Dollar overnight.These two better than expected reports
triggered renewed interest in demand for higher risk assets. Speculation is
that global manufacturing will provide the spark for a worldwide recovery.
The daily chart pattern in the EUR USD suggests 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 this week
especially the employment report on January 8th.The Euro weakened throughout the day after an
initial surge following the release of a firm U.S. manufacturing report.
The GBP USD followed through to the upside after last weekâ€™s
late turnaround, but is failing to attract fresh buying at the mid-session
because of short-term overbought conditions. The daily chart indicates that
this market has room to the upside with 1.6355 to 1.6478 the next objective.
The size of the rally of the past two days has made this market vulnerable to a
short-term correction.Watch for a small
pull-back to 1.6036 to 1.5988.
The USD JPY finished weaker after a steady to higher
opening.The closing price reversal top
formation on the daily chart suggests a minimum pullback to 90.75.. Traders feel the market has advanced enough
and are reacting to overbought technical factors.In addition, renewed demand for higher
yielding assets is helping to pressure the Dollar.
The USD CHF rallied over night but ran into technical
pressure at a .618 level at 1.0419.Renewed interest in higher risk assets could send this currency pair
back to 1.0212 to 1.0143 over the near-term.Watch for a possible technical bounce on the first test of this level.
After a slight retracement late last week, the USD CAD is
once again under pressure.The main
trend is down. The chart indicates developing selling pressure is likely to
accelerate under an old main bottom at 1.0405, setting up a further decline to
1.0265.Strong rallies in gold and crude
oil as well as equity markets are the driving forces behind todayâ€™s weakness in
the USD CAD.
The AUD USD started the session steady to better, but surged
to the upside following a pick-up in demand for higher risk assets.The strong rise in U.S. equity markets is helping to
create demand for the higher yielding Aussie. Technical factors are also
signaling new strength as this market has broken through a pair of retracement
levels at .8964 to .9018.Continuing
strength could drive this market to .9144 over the near-term.
The New Zealand Dollar overcame initial weakness with a
quick turnaround last night on the news of the improvement in Chinese manufacturing.
Strong upside momentum fueled by greater demand for higher yielding assets has
put the NZD USD in a strong position to test Gann angle resistance at
73.30.Solid support has been
established at .7185.
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.
Mon 18 Dec
10:00 EZ- final HICP Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes Mon 25 Dec
00:00 Christmas Holidays
Potential Trading Opportunities
POTENTIAL PRICE RISK: Medium Mon--10:00 GMT-- EZ- final November HICP. flash data are rarely changed.
POTENTIAL PRICE RISK: HIGH- Medium Tue --09:00 GMT-- DE- IFO Survey. Key report but usually not a market-mover
POTENTIAL PRICE RISK: HIGH- Medium- Tue --13:30 GMT-- US- Housing Starts and Permits. Leading indicators of activity
POTENTIAL PRICE RISK: HIGH-Medium- Wed --15:00-- US- Existing Homes Sales. Top Housing statistic
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.