The U.S. Dollar traded mixed in a tight and narrow range. The
trade weighted Dollar Index finished slightly lower after confirming last
Friday‚Äôs closing price reversal top.
The lack of major U.S. economic reports on Monday
helped hold the Forex markets in a tight range as investors awaited testimony
later in the week from Fed Chairman Bernanke. His comments should move the
markets especially if they come after a few days of range bound, directionless
trading. His testimony before the House Financial Services Committee is
expected to be about employment growth prospects and whether fiscal stimulus is
Traders will be looking for Bernanke to give them clues
about the timing of future U.S.
interest rate hikes. In addition, he may be asked to explain why he hiked the
discount rate last week.
The Euro finished lower as investor confidence evaporated
following a failure by the European Union to reach an agreement with Greece
regarding its fiscal responsibility. Depending which side you talk too, the EU
are either very close or far apart.
The GBP USD traded flat to higher, but inside Friday‚Äôs
range. Traders were covering short positions after the recent sharp sell-off in
an effort to lock in profits. There has been no change in the fundamentals. The
budget deficit, weak economy and lack of confidence in the Bank of England are still
the catalysts behind the weakness in the British Pound.
Risk sentiment drove the USD JPY lower. Traders were acting
a little jittery about holding on to risky assets. This helped to support the
The weaker Euro helped to support the USD CHF. Traders reacted
as if the falling Euro would trigger another round of intervention by the Swiss
Lower gold and last session weakness in crude oil helped to
underpin the USD CAD.Technically this
market is in a position to form a daily closing price reversal bottom that
could trigger the start of a short-covering rally.
The AUD USD and NZD USD were up but well off their highs.
Both of these markets tried to break out to the upside, but risk sentiment
helping to limit gains.Traders are
waiting to take clues from Fed Chairman Bernanke‚Äôs testimony. These markets
will be sensitive to stock market volatility and direction.
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
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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
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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.
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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.
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