User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday March 29, 2010 - 14:31:24 GMT
Forex Hound - www.forexhound.com

Share This Story:
| | Email

Renewed Demand for Risk Pressures Dollar

The U.S. Dollar is trading lower against most major currencies as trader demand for risk is helping to pressure the Greenback. The weakness in the Dollar is being attributed to optimism in the Euro Zone over the potential positive impact of the new European Union and International Monetary Fund bailout proposal for Greece. Before the New York session opening, the theme of the day is demand for risk.

 

The EUR USD is up for the second consecutive day as weak shorts continue to cover after late last week’s EU and IMF proposal to help Greece should it be unable to find financing in the capital markets. The proposal amounts to a pledge to help Greece out of the Euro Region’s biggest deficit if it runs out of traditional financing options. Today, Greece is expected to issue bonds priced in Euros. This will be the first test as to how investors perceive the viability of the aforementioned bailout proposal.

 

The charts indicate the Euro has formed a new main range at 1.3817 to 1.3267. This range creates an upside target at the retracement zone at 1.3542 to 1.3607. According to the CFTC Commitment of Traders Report, as of March 23rd, hedge funds and large speculators account for a record net short 74,917 positions. The large number of shorts, the news regarding Greece and the chart formation all suggest that this market is ripe for a short-covering rally. Fresh buyers are likely to remain scarce until the Greek economy can prove itself.

 

The stronger Euro is pressuring the USD CHF. The higher the Euro rises, the less likely the Swiss National Bank is going to intervene to protect its economy and currency. A better Euro will also allow the SNB to focus on the possibility of an interest rate hike at its next meeting. The charts indicate that a new lower top has been formed at 1.0751. Overnight a minor retracement level at 1.0628 to 1.0600 has been tested. A break under 1.0600 is likely to trigger an acceleration to the downside with 1.0513 the next likely target.

 

Demand for riskier currencies is helping to boost the GBP USD. This currency pair is still in a downtrend, but beginning to show signs of the formation of a secondary higher bottom at 1.4797. Regaining a key retracement area at 1.5010 to 1.5080 could trigger additional short-covering, but the trend will remain down until 1.5381 is violated. Fundamentally, although the British Pound is up because of expectations of improvements in Greece, the U.K. continues to face fiscal problems of its own. The wide deficit as well as the possibility of a debt rating cut, continue to weigh on the currency. Uncertainty regarding the upcoming election and the possibility of a “hung Parliament” continues to linger.

 

Signs that the global recovery is gathering momentum could continue to underpin the USD JPY. Although this market is technically overbought after last week’s surge to the upside, buying could resume today if U.S. equity markets continue to push higher. Additional pressure could be on the Yen following strong rallies in gold and crude oil. The charts indicate that the January top at 93.77 remains the next likely upside target. 91.35 should provide good support if tested.

 

Greater demand for higher risk assets helped stop the USD CAD rally in its tracks. The long-term downtrend could resume as traders begin to price in the strong possibility of an interest rate hike by the Bank of Canada. Speculators are also anticipating a better U.S. Non-Farm Payrolls Report on Friday. The charts indicate a test of 1.0181 to 1.0152 is likely should downside momentum continue.

 

Expectations of better retail sales this week and talk of another interest rate hike are helping to boost the AUD USD. The overnight action is indicating that demand for higher yielding assets has returned.

 

Reserve Bank of Australia Governor Stevens said house prices are “getting quite high”. This signaled to traders that interest rates may need to be increased further. Stevens also said that borrowing costs need to be returned to “normal” levels. Both of these comments are encouraging traders to by the Aussie. The strong move in the currency has put this market in a position to test a retracement zone at .9126 to .9155.

 

Renewed buying in higher risk assets is also giving the NZD USD a boost. The higher-top, higher-bottom formation suggests that the main trend is likely to continue up. Regaining a 50% price level at .7124 could trigger an acceleration to the .618 level at .7199. A break out over the last swing top at .7178 will reaffirm the uptrend. There is also some speculation that the Reserve Bank of New Zealand may raise interest rates as early as June.

 

Today, traders will be given the chance to respond to U.S. Personal Income and Spending. Estimates are for these reports to be steady. The market mover this week will be Friday’s U.S. Non-Farm Payrolls Report. Early expectations are for an increase of 190,000 jobs, mostly due to the hiring of census workers. Traders will be able to get an early indication of the viability of this number on Wednesday when ADP reports private jobs data.

 

Given the absence of any major economic reports until Friday, look for traders and speculators to continue to focus on Greece and the other sovereign debt issues lingering in the Euro Zone economy.

 

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