User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday March 21, 2005 - 10:00:05 GMT
FXstreet.com - www.fxstreet.com

Share This Story:
| | Email

European Session, 21/3/2005

Markets Snapshot
Good morning everyone from FXstreet.com. The Crude oil closed around $57.05 yesterday, closing higher but almost running out of steam, indicators show. In the US stock markets, the Dow Jones Industrial Average closed around 10.630, almost unchanged with respect to previous day’s closing level, confirming the bearish tone for the recent sessions.

Forex Technicals at a glance

Euro/Usd: At the time of this writing, the pair is trading around the 1.3205 level. Pair has definitely abandoned the bullish momentum. It has clearly broken the uptrend line, and 2 of the 3 fibonacci fan lines that could be also drawn for the current upmove. It is now testing the first fibonacci retracement level (38.2%) around 1.32. Should that level be unable to hold (which, by the way, is important to determine the strength of the prevailing move) then the crucial support area is around the 1.31-1.3150, which marks the confluence of the 50-day simple moving average (the 20-day has been broken to the downside), the last fan line, and the 50% retracement of the current upleg. Obviously, a sustained break below that level followed by a break of the 1.30 level marks a trend change and proves the downtrend that we can draw using the highs of december, 29, 2004 and march, 10, 2005 a very strong one. Longs, though not supported by any indicator, therefore not advised, may come in around the fibo level.
Moving averages overview: EUR has its 200-day moving average today at 1.2745. We have the confirmation of a bullish cross by the moving averages, and pair is only trading above the 50-day now.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Negative – no signal (flat). Indicators watch-level 2: EUR Neutral.

Gbp/Usd: At the time of this writing, the pair is trading around the 1.9060 level. It has finally broken the 20-day simple moving average to the downside, and has its next big support around 1.8965, where we find the 50-day moving average. The rounded-top formation it is creating for several sessions now does not look good for the pair, and can lead to further weakness if the pair doesn’t break it on the upside soon. It is trading slightly above the first fibo retracement level of the current level, but given the nature of the technical formation, the validity of the lines may not be as strong as in a more trending picture. First signal of regaining momentum is on a clear break of the 1.92 area.
Moving averages overview: GBP has its 200-day moving average today at 1.8572. pair is only trading above the 50-day moving average now.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Negative – no signal (flat). Indicators watch-level 2: GBP Neutral-Negative.

Usd/Chf: At the time of this writing, the pair is trading around the 1.1735 level. Well, the USD/CHF has confirmed all indications of being a USD-move leading indicator. After watching that USD/CAD wasn’t going to be the leading pair for the next USD move, I switched to the swiss franc to see what it was indicating. It pictured a very clear trend, with very clear breaking levels, which have worked to perfection, and have given the early warnings that something was being cooked (with respect to the next USD move). Breaking the downtrend was a more than clear warning sign for those USD bearish pleayers, and it has been confirmed today, when also the 20-day simple moving average has been broken on the upside. However, neither the 50-day moving average nor any of the fibonacci retracement levels have been broken, nor the moving averages have crossed on the upside, so extreme caution when calling this a new upleg for the USD. Joining the lows of december,30, 2004 and march, 13, 2005, we can determine the support of the “possible” uptredn, should all the indicators confirm the view.
Moving averages overview: USD has its 200-day moving average today at 1.2081. pair is above the 20-day moving average now.
Indicators watch: Indicators watch-level 1 (signal generator): USD Positive - no signal – (flat). Indicators watch-level 2: USD Positive.

Eur/Gbp: At the time of this writing, the pair is trading around the 0.6935 level. Pair has gone to test the 61.8% fibonacci retracement level of the current upleg, and it has nicely rebounded forming a “dragon fly” candlestick formation at the moment. Though moving averages are almost in a bullish cross, the indicators watch level 1 closes the long position today, so a mixed picture for the pair at the moment. If it confirms the bullish cross of the moving averages we may see some strength in the coming sessions, though they won’t be supported, at least initially, by indicators.
Moving averages overview: pair has its 200-day moving average at 0.6859 today. Pair is above both moving averages and looks poised for a more tahn possible cross on the upside in the next 2-3 sessions.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral –closing the long signal today-. Indicators Wacth-level 2 : EUR Neutral-Negative.

Indicators watch-Level 1: Trend indicators Direction, providing some useful investment information.
Indicators watch-Level 2: Momentum Indicators Direction (working in pairs), providing current market sentiment for the instrument.

toni@fxstreet.com

 

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 18 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Wed 18 Oct
12:30 US- Housing Starts & Permits
14:30 US- EIA Crude
Thu 19 Oct
01:30 AU- Employment
08:30 GB- Retail Sales
12:30 US- Weekly Jobless
Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales

Forex Trading Outlook


Trading Opportunities


  • POTENTIAL PRICE RISK: HIGH Tue-- 08:30 GMT GB- CPI top tier confirmation of Inflation.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT DE- ZEW Survey second most important German monthly Survey.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT EZ- final HICP revision to flash report. Revisions are usually minor.

  • POTENTIAL PRICE RISK: Medium Tue-- 13:15 GMT US- Industrial Production. Top output indicator.



  • POTENTIAL PRICE RISK: Medium Wed-- 12:30 GMT US- Housing Starts and Permits revision to flash report. Useful housing leading indicator.

  • POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top WTI inventory measure.



  • POTENTIAL PRICE RISK: Medium Thu-- 01:30 GMT AU- Employment. Top economic indicator.


  • POTENTIAL PRICE RISK: Medium Thu-- 02:00 GMT CN- GDP. Top economic indicator.


  • POTENTIAL PRICE RISK: HIGH Thu-- 08:30 GMT GB- Retail Sales. Top consumption indicator.


  • POTENTIAL PRICE RISK: Medium Thu-- 12:30 GMT US- Weekly Jobless. Employment Indicator.



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