Euro Upside Momentum Falters after Gap Higher Opening
The EUR USD settled into a range after gapping open and
pulling back from its high throughout the New York
session, as traders awaited more details about the Greece bailout package. In
addition, traders are waiting for Tuesdayâ€™s Greek Treasury bill auction.
Investors want to see whether there is strong demand for short-term Greek debt
or if it is going to have to borrow to keep up with its financial obligations.
The commodity and equity markets gave mixed signals today.
Initially, both asset classes rallied as the Euro broke out to the upside. Some
traders felt that this new agreement eliminated concerns about Greeceâ€™s
ability to meet its short-term obligations. Some even felt that the funding was
enough to ensure that Greece
would have enough liquidity to implement its new austere financial measures.
The GBP USD gave back all of its overnight gains and posted
a daily closing price reversal top. The British Pound piggy-backed the Euroâ€™s
rally but turned negative when it broke off its high. The charts indicate a
break back to 1.5297 is likely over the near-term.
After a sharp sell-off overnight, the USD CHF settled into a
range at 1.0670 to 1.0568. This market mirrored the movement in the Euro
throughout the day. A strong Euro will continue to drive the Dollar/Swiss
Mixed equity markets triggered a so-so trade in the USD JPY.
Stronger equity markets will increase demand for higher risk assets which will
put pressure on the Japanese Yen. Otherwise continue to look for the Dollar/Yen
to drift sideways over the near-term.
The USD CAD traded flat most of the New York session. The lack of direction in
gold and crude oil contributed to trader indecisiveness. Technically, this
market is oversold and getting support from the confirmed reversal bottom at
.9975. A break in gold and crude oil will likely drive this market higher to
the 50% level at 1.0138.
A worse than expected housing market outlook put pressure on
the AUD USD. Overnight this pair rallied sharply higher on increased demand for
higher risk assets. After the bearish report, the Aussie sold off, helping to a
closing price reversal top.
A similar pattern developed in the NZD USD as traders sold
this market in reaction to the move in the Australian Dollar. The close under
the 50% level at .7124 indicates further downside pressure should be
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.
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.