March Treasury Bonds surged to the upside and erased all of
Wednesdayâ€™s losses following the weak U.S. economic reports. Traders
reacted to the possibility of interest rates staying lower for a
long-time.Todayâ€™s Treasury bond action
also went off without a hitch, generating more interest in the long side of the
market.The charts indicate the next
upside objective is 117â€™14.Conditions
could weaken again if 116â€™28 fails to hold as support.
Equity markets finished higher following the release of
weaker than expected U.S.
economic data.Stocks initially showed
signs of weakness following higher than expected initial claims and a lower
U.S. Retail Sales Report.Investors
looked at the break as a buying opportunity.The strong close put the major indices in a position to close at new
highs for the week.
The weaker Dollar is helped to support February Gold.Traders also appeared to have shaken off the
negative news from China
from earlier in the week.On Tuesday, China
made a decision to raise reserve requirements. Traders believe this will lead
to a drop in demand for commodities, causing gold to lose its appeal as a hedge
against inflation.Technically, a new
short-term range has been created at $1163.00 to $1118.50. This range creates a
retracement zone at $1140.70 to $1146.00.Closing above this zone will put gold in a position to test the $1163.00
March Crude Oil trading a little better but inside
Wednesdayâ€™s range.Earlier in the week,
the market found support at a major 50% price at 78.99.Breaking this level will trigger a further
decline to 77.70.Oversold conditions
could trigger a retracement rally to 81.63. Renewed demand for commodities and
other higher priced assets could support further upside action tomorrow.
The U.S. Dollar finished lower against a basket of
currencies for the fifth straight day in sluggish trading. Contributing to the
weakness were reports that U.S. Jobless Claims rose last week by the largest
amount in five weeks and U.S. Retail Sales were down.
Both reports show that employment is still a major issue
affecting the economy as well as consumer spending.Traders pressed the Dollar most of the day
and wouldnâ€™t allow it to get away by too much on the upside. Todayâ€™s economic
data suggests the Fed will keep interest rates lower for a prolonged period of
time which is once again driving up demand for higher yielding assets.
The European Central Bank left interest rates at 1% as
expected. The March Euro weakened a bit after ECB President Trichet failed to
spark interest in the upside following his assessment of economic conditions in
the Euro Zone region. The trading range was tight most of the day following the
report. The chart indicates 1.4680 is still a possible upside target.
The weak U.S.
economic data helped turnaround the March Japanese Yen after a lower opening.The failure to reach a 50% level at 1.0851
was the first sign of strength.The
second sign would have been a trade through the high for the week at 1.1026,
but this price held as resistance.A
trade through this level tomorrow will put the market in a position to strengthen
further with 1.1273 the next upside target.
The March Swiss Franc tried to breakout to the downside
through a 50% price at .9806 before failing to attract aggressive sellers.Upside momentum pushed it back inside a
retracement zone with .9873 the next potential upside target.Weak U.S. economic data made the Swiss
Franc more attractive. Gains were most likely limited because of the threat of
intervention by the Swiss National Bank.
The March Canadian Dollar worked to a new high for the week.
Greater demand for gold, copper and natural gas helped to support the Canadian
Dollar. Look for this currency to remain strong as long as there is demand for
raw materials. Long traders have to be careful down in this area because of
possible action by the Bank of Canada to weaken the Canadian Dollar. .9792 was
the high in October at the time the BoC issued a stern warning regarding the
price of the currency.
The March British Pound traded higher after erasing earlier
losses. The strong close has this market in a position to test a 50% price at
1.6351.Upside momentum could take this
market to the next level at 1.6475. The British Pound turned the main trend to
up on the daily chart earlier in the week when it crossed a main top at 1.6235.This move was primarily driven by a Bank of
England memberâ€™s call for higher interest rates later in the year.
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.