stock indices took a loss on Friday, driven lower by risk fears and profit-taking.
Fear that the Greek financial problems may escalate over the week-end encouraged
traders to lighten up positions in equities after a strong run-up. The stronger
Dollar also pressured equities as traders took a little money off the top to
reinvest into lower risk assets. Fridayâ€™s quadruple witching also contributed
to the weakness and volatility.
Without any major economic reports on Monday, look for
traders to turn to risk sentiment and the Dollar for direction.
June Treasury Bonds regained the old double-tops at 118â€™02
but had very little follow-through to the upside. Fridayâ€™s gains were most
likely related to asset allocation plays between stocks and bonds. Earlier this
morning, Thursdayâ€™s reversal top was confirmed but traders quickly bought the
dip when stocks broke. This market is set up to move higher on Monday because
there are no economic reports to stop the T-Bonds. Increased risk could break
equities to the benefit of the T-Bonds.
The stronger Dollar helped drive April Gold lower on Friday,
erasing almost all of this weekâ€™s gains. A trade through $1097.30 will turn the
main trend down on the daily chart. This could trigger a further decline to
another bottom at $1088.50. Minor support is at an uptrending Gann angle at
$1102.50. A break through this level could trigger an acceleration to the
June Crude Oil was under pressure on Friday because of the
stronger Dollar and the dumping of higher risk assets. The chart pattern
suggests that a secondary lower top at 83.80 may have been formed. Downside
momentum indicates that a break through the last swing bottom at 79.77 will
turn the main trend down.
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
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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 Mar 2018 Tue 20 Mar 2018 AA 9:30 GB- CPI A 10:00 DE- ZEW Survey Wed 21 Mar 2018 AA 03:00 AU- Employment AA 9:30 GB- Employment A 12:30 US- Current Account AA 14:00 US- Existing Homes Sales A 14:30 US- EIA Crude A A18:00 US- Fed Rate Decision A 21:00 NZ- RBNZ Rate Decision Thu 22 Mar 2018 AA All Day flash PMIs AA 9:30 GB- Retail Sales AA 12:00 GB- Bank Of England Decision A 13:30 US- Weekly Jobless Fri 23 Mar 2018 AA 12:30 CA- CPI/Retail Sales A 12:30 US- Durable Goods A 14:00 US- New Homes Sales
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.
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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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