An increase in demand for risk is putting pressure on the
U.S. Dollar overnight. Tensions have been easing all week on speculation the
European Union will accept the latest proposal by Greece to shore up its budget
deficit. In addition, talk is circulating that the E.U. and the International
Monetary Fund are likely to rescue Greece should the situation warrant
such moves.Asian traders like the news
and are boosting demand for higher risk assets and higher yielding currencies.
Thin trading conditions continue to highlight the Forex
markets ahead of tomorrowâ€™s Bank of England and European Central Bank policy
announcements. Trading is expected to continue to be muted following these two
central bank meetings as traders will then begin adjusting positions in front
of the U.S. Non-Farm Payrolls Report.
Because of the light trade, todayâ€™s U.S. economic
reports are likely to have greater impact on the Forex markets. Todayâ€™s ADP
Employment Report is expected to show a loss of 30,000 jobs following a decline
of 84,000 in December.This report will
be followed by the ISM Non-Manufacturing Index. Traders will be looking for
positive momentum from this report. The preliminary guess is for a figure of
51. This will put this index above the key 50 area.
Other potential market moving reports are the Treasury
refunding announcement and the weekly petroleum report. Both reports could
trigger movement in the Forex markets if they are out of line with
expectations. Interest sensitive markets will react to the refunding
announcement. The Canadian Dollar is likely to react to the crude oil figure.
The EUR USD is trading higher overnight. Traders have been
supporting this market since news broke that Greece had reached a budget solution.
Today, the European Union will release its opinion on Greeceâ€™s budget
proposal. In addition, traders are reacting positively to the strong
possibility the IMF will rescue the Greek economy if necessary. On Thursday,
the European Central Bank is expected to announce that interest rates will
Technically, a new short-term range has been formed at
1.4194 to 1.3852. Last night, this market stopped rallying at 50% of this range
at 1.4023. Overcoming this level could trigger a further rally to 1.4063.
The GBP USD spiked to the upside last night on the news that
consumer confidence rose more than expected. Speculators have also been driving
this market higher on the notion that the Bank of England members will provide
a more hawkish opinion on the economy in tomorrowâ€™s policy statement.
Technically, the British Pound started higher, but pulled
back. The charts indicate that 1.6153 is the next upside target. 1.5960 is
pegged as a possible downside target.
The USD JPY is trading mixed in light trading. Some traders
expect this pair to rally on increased demand for higher yielding currencies.
Others are looking for more downside pressure on speculation the Bank of Japan
is unlikely to intervene to prevent the Yen from appreciating. The next upside
target is 91.45. On the downside, this pair could find support at 90.03. What
this market wants is clarity at this time.
The strengthening Euro is taking the pressure off the Swiss
National Bank to intervene. This is contributing to the weakness in the USD
CHF. The short-term range is 1.0367 to 1.0642. Last nightâ€™s test of 50% of this
range at 1.0504 encouraged profit-taking and led to a short covering rally.
Traders will be watching the news from the European Union today regarding the Greece budget
situation. Any positive news which drives the Euro higher is likely to be
bullish for the Swiss Franc.
Higher stock, gold and crude oil prices should continue to
support the Canadian Dollar. Gold, however, is trading inside of a retracement
zone which could limit losses in the USD CAD.Todayâ€™s crude oil inventory report is expected to show a rise which
could pressure oil prices. The USD CAD is trading tentatively this morning as
traders await this report. Technically, the main range is 1.0224 to 1.0720. The
first downside target today is uptrending Gann angle support at 1.0504.
Short-term oversold conditions could drive this market back up to 1.0633.
Demand for higher risk assets is helping to support the NZD
USD. Trader appetite for risk is up in Asia.
This is expected to spillover to the U.S. markets if stock prices
continue to rise. A new main range has been formed at .7442 to .6995. This
makes .7281 a potential upside target, however, a downtrending Gann angle at
.7162 may provide some resistance today. A failure to follow-through to the
upside could trigger a correction back to .7073.
The AUD USD is holding steady to better following
yesterdayâ€™s volatile trade. Although traders do not seem to want to
aggressively trade the long side of this market, they arenâ€™t selling it either.
Now that the negative news is out of the way, it looks as if traders may try to
build a support base. If upside momentum can build, then this market may
retrace back to .9055 over the medium term.
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 19 Feb 2018
00:00 CN, US- Holiday Tue 20 Feb 2018
00:00 CN- Holiday A 10:00 US- ZEW Survey Wed 21 Feb 2018
00:00 CN- Holiday A All Day flash PMIs A 15:00 US- Existing Homes Sales A 15:30 US- EIA Crude AA 19:00 US- Fed Meeting Minutes Thu 22 Feb 2018 A 09:00 DE- IFO Survey A 09:30 GB- GDP AA 13:30 CA- Retail Sales A 13:30 US- Weekly Jobless Fri 23 Feb 2018 A 10:00 EZ- Final HICP AA 13:30 CA- CPI
John M. Bland, MBA co-founding Partner, Global-View.com
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.