The Dollar Index is trading sharply higher as the Dollar is
gaining against the European currencies following reports of problems with the
Greek bailout package. Both the June Euro and June British Pound are trading
sharply lower as Greece tries to amend the proposal to receive aid from the
International Monetary Fund and to negotiate better interest rates on loans
from other European Union members.
Traders have been nervous since last week when Greek bonds
began selling off and the cost to service its debt surged. Although the first
bond issue was well received, it now appears that this may have been a token
gesture by Euro Zone members. Since this initial offering, interest rates have
slowing risen, making it very expensive to Greece to continue to function.
stock indices are trading lower because of risk aversion. For several days,
stock indices have been buoyed by good economic news, but the rallies have
appeared to be labored at times. Traders looked a little tentative at times
seemingly expecting a correction because of extremely overbought indicators. So
far the weakness hasnâ€™t led to any major selling pressure, but conditions are
ripe for the situation to escalate should the Greek fiscal problems balloon.
Traders have gotten used to buying dips in this rally so
this morningâ€™s opening may be treated by some as a buying opportunity. Looking
at the charts, the Dow is still toying with the 11,000 area. Technically, this
price doesnâ€™t mean anything. Psychologically, breaking out above this level could
trigger an acceleration to the upside as traders gain more confidence that
equities are still the place to invest.
June Treasury Bonds are trading better. Weaker demand for
higher risk assets and oversold conditions are helping to boost demand for safer
assets. Money may be moving out of higher risk commodities and equities and
into the safety of the fixed income market. In addition, following a string of
economic reports, yields have become very attractive, making T-Bond and T-Notes
more competitive with the yields offered by equities.
June Gold is trading slightly lower. Traders are not selling
gold very aggressively despite the stronger Dollar. This could be because of
concerns about a possible default in Greece. Overnight, June Gold overtook
a swing top at $1133.90, only to find resistance at a 50% price level at
$1136.75. The key factor to watch today is whether downside pressure on the
British Pound and Euro extends throughout the U.S. Forex session. If these two
currencies continue to collapse, then eventually gold may feel downside
pressure. There may be a point, however, where gold surges to the upside if it
becomes clear that the Greek fiscal issues are worsening enough to spread
across the Euro Zone. This will then lead to renewed talk of a collapse in the
Despite the stronger Dollar and weaker Euro, June Crude Oil
continues to rally. It looks as if demand for crude oil because of the
expanding global economy is a more important reason to be long this market.
Technically, this market broke out to the upside on Monday. This matter is
expected to continue as long as there is a bid under the market. A further
collapse in the Euro and surge in the Dollar could give traders an excuse to
take profits after this rally and to lighten up a little on their long
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.
POTENTIAL PRICE RISK: HIGH to Medium- Wed --14:15 GMT-- US- Industrial Production
POTENTIAL PRICE RISK: HIGH- Wed -- 15:00 GMT-- CA- Bank Of Canada Decision
John M. Bland, MBA co-founding Partner, Global-View.com
Max McKegg's Daily Forex Trading Forecasts
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.