Increased Risk Appetite; Position Squaring Boost Equities
equities are called higher this morning after posting a strong gain on
Wednesday and a follow-thorough rally last night. The stable Euro is
contributing to the rally along with position squaring ahead of Fridayâ€™s U.S.
Employment Report. In addition, traders seem to be getting a little more
optimistic that the global economic recovery is getting back on track based on
fairly decent U.S.
On Wednesday, a better than expected U.S. home sales report helped drive
stock prices higher. Traders took advantage of the thin trading conditions to
drive the three major indices higher after failing to follow-through to the
downside following Tuesdayâ€™s sharp sell-off.
The June E-mini found support earlier in the week following
a test of a minor 50% retracement level at 1071.75 and is now in a position to
test a major 50% price level at 1105.75 and last weekâ€™s high at 1106.75.
Watch for an acceleration to the upside following a breakout
through 1106.75, triggering a change in trend to up. This will mark the first
change in trend to up since May 4th. More buyers could pile in the
market which could eventually send the E-mini S&P 500 into the next
retracement level at 1122.00.
September Treasury Bonds are trading lower, pressured by the
Wednesdayâ€™s good U.S.
housing number and the liquidation of safer assets. Once again the T-Bonds
failed to take advantage of the room on the upside and instead have settled
into a range. Look for this market to remain sensitive to the direction of the
stock market. The break through the series of lows at 122â€™05 is a sign of lower
markets to follow. A strong rally in the equity markets could send the T-Bonds
Both September Crude Oil and August Gold are holding steady
this morning but seem ready to react to the strong rally in equities. Gold
seems poised to drop sharply should demand pick up for equities. A failure to
hold $1219.50 will be the first sign of weakness. A trade through $1209.70 will
likely accelerate the move to the downside.
Greater demand for riskier assets should help crude oil
rally. Traders seem to be waiting for todayâ€™s oil inventory report before
making there move however. The charts indicate that there is room to the upside
with 80.88 the next likely target.
The June Japanese Yen is breaking sharply lower, weakened by
greater demand for risky assets and on speculation that the next prime minister
will favor a weaker currency.
The Japanese Yen began to weaken Wednesday following the
resignation of Japanese Prime Minister Yukio Hatoyama.Traders are worried that the economy will
weaken further during the election process at a time when Chinaâ€™s economy is slowing and Europe
continues to struggle. In addition, speculators are selling the currency
because they believe the next prime minister will be NaotoKan
who favors a weaker currency.
Look for downside pressure to continue to on the June
Japanese Yen as long as it remains under the .618 retracement level at 1.0854.
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."
Actionable trading levels delivered to YOUR charts in real-time.
Tue 17 July 2018 AA 08:30 GB- Employment A 13:15 US- Industrial Production AA 14:00 US-Powell Testimony Wed 18 July 2018 AA 08:30 GB- CPI A 12:30 US- Housing Starts/Permits AA 14:00 US-Powell Testimony Thu 19 July 2018 AA 1:30 AU- Employment AA 08:30 GB- Retail Sales A 14:30 US- EIA Crude A 12:30 US- Weekly Jobless Fri 20 Jun 2018 A 12:30 CA- CPI/Retail Sales
John M. Bland, MBA co-founding Partner, Global-View.com
Global-View Affiliate Program
We are starting an affiliate program to market some of our products.
Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.
Put the word "affiliate" in the email subject line.
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.