User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday March 2, 2005 - 10:40:09 GMT
FXstreet.com - www.fxstreet.com

Share This Story:
| | Email

Forex Morning Meeting - European Session, 2/3/2005

Markets Snapshot

Good morning everyone from FXstreet.com. To anyone who is following my daily report, I apologize for not updating the report yesterday. The Crude oil closed around $51.55 yesterday, and it is continuing to form a bullish formation that could take it above previous all-time highs.. In the US stock markets, the Dow Jones Industrial Average closed around 10.830, in a yo-yo move for the past 3 sessions.

Forex Technicals at a glance

Euro/Usd: At the time of this writing, the pair is trading around the 1.3110 level. Well, well, well ... that last fibonacci retracement level of the current downleg is working now! Or at least is what it seems for now. What we do now know is that while the EUR is trading below 1.3315 is keeping its bearish tone, which could be well reinforced if we see a clear break of the 1.3010 level again. At least for now, the pair is trading again below the 50-day moving average. As stated in previous reports, selling around that last key fibonacci level was advisable since the current short term move was bearish for the pair despite the upmoves, therefore selecting good risk/reward entry points should eventually yield some.
Moving averages overview : EUR has its 200-day moving average today at 1.2652. We have a bearish cross from the 2 shorter moving averages for some time now, with the 20-day down the 50-day. Pair is now only above the 20-day simple moving average.
Indicators watch : Indicators watch-level 1 (signal generator): EUR Positive – no signal. Indicators watch-level 2 : EUR Neutral.

Gbp/Usd : At the time of this writing, the pair is trading around the 1.9085 level. After having yielded over 500 pips after signaling long –according to indicators watch level 1-, having broken all 3 key fibonacci retracements on the upside, the GBP looks now weak again and it has broken back down the third fibonacci retracement, more or less around 1.9175. The puzzling thing is that we could tomorrow have the confirmation of a bullish cross within the 2 moving averages, which today give the cross to our eyes. Therefore, with the news due out all this week (today Mr. Alan Greenspan testifying on the US Economy, 15h GMT) and Friday’s NFP number, anything can happen for this extremely volatile currency.
Moving averages overview : GBP has its 200-day moving average today at 1.8503. We have the 20-day crossing the 50-day on the upside, confirmation we should have tomorrow.
Indicators watch : Indicators watch-level 1 (signal generator) : GBP Positive (signaled long feb.11, 2005). Indicators watch-level 2: GBP Neutral-Positive.

Usd/Chf : At the time of this writing, the pair is trading around the 1.1750 level. Spectacular as it is, pair has surged breaking above previous important level 1.1665, and it is testing another resistance area round 1.1750-1.18, where he is finiding the 50-day moving average, but now looks again poised to follow weekly charts, which are, as said yesterday. Bullish for the greenback overall. This coming-and-going moves for the pair could also well be the fierces attempts of the USD bears to resume the bearish momentum for the currency, ignoring the bullish technical signals and trying to impose its view. Technicals are working hard to keep the greenback in good shape and to recover key levels which would then confirm the long-term view and could generate fresh buyers to come in.
Moving averages overview : USD has its 200-day moving average today at 1.2150. The 20-day holds above the 50-day after the bullish cross a few days ago. Pair is below them both now, but pair is testing the 50-day moving average now.
Indicators watch : Indicators watch-level 1 (signal generator) : USD Negative (no signal). Indicators watch-level 2: USD Positive.

Eur/Gbp : At the time of this writing, the pair is trading around the 0.6865 level. Pair is tricky now, since it has only moved down after breaking the daily downtrend line, and it looks as if it is posied to regain the downtrend line, which could accelerate losses for the EUR against the GBP. No doubt the EUR is the weakes of the three european currencies these days, but one would expect a much better behaviour given the fact it looks good technically speaking. Its current supports are found around 0.6850 and then the big 200-day moving average at 0.6834. However, testing again the 0.6850 level is not a good singal, so if it is unable to regain the 0.6880 level soon, it may face some trouble for the time being. Hourly chart studies show some strength for the pair, though.
Moving averages overview : pair has its 200-day moving average at 0.6834 today. We have a bearish cross from the 2 moving averages and pair is below them both.
Indicators watch : Indicators watch-level 1 (signal generator) : EUR Positive – signaled long february,25-. Indicators Wacth-level 2 : EUR Neutral.

Indicators watch-Level 1 : Trend indicators Direction, providing some useful investment information.
Indicators watch-Level 2 : Momentum Indicators Direction (working in pairs), providing current market sentiment for the instrument.

toni@fxstreet.com

 

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 23 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Tue 24 Oct
All Day flash PMIs
Wed 25 Oct
01:30 AU- CPI
08:00 DE- IFO Survey
08:30 GB- GDP
14:00 CA- BOC Decision
14:30 US- EIA Crude
Thu 26 Oct
11:45 EZ- ECB Decision
12:30 US- Weekly Jobless
14:00 US- Pending Homes Sales
Fri 27 Oct
12:30 US- GDP
14:00 US- final Univ of Michigan

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: Medium Tue-- All Day Global flash PMIs. First good look at October economic performances.



  • POTENTIAL PRICE RISK: HIGH Wed-- 01:30 GMT AU- CPI. Top Inflation indicator.

  • POTENTIAL PRICE RISK: HIGH Wed-- 08:00 GMT DE- IFO Survey. Top German indicator.


  • POTENTIAL PRICE RISK: HIGH Wed-- 14:00 GMT CA- BOC Decision. No Policy Change Expected.


  • POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top Weekly WTI Statistic.



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