User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Saturday June 26, 2010 - 00:57:08 GMT
Forex Hound -

Share This Story:
| | Email

Stocks Rally Late but Still Lower for Week

The September E-mini S&P 500 closed higher after a short-covering rally late in the session. For the week the market finished sharply lower.

This market started the week with a rally into a retracement zone at 1122.00 to 1143.00. The daily closing price reversal top on Monday indicated that the selling was greater than the buying. This pattern suggested a minimum 2 to 3 day break into a minor retracement area at 1083.25 to 1072.50. Friday’s low at 1062.75 overshot the downside objective but the market still managed to regain it by the close.

Fundamentally the weak U.S. housing data and the dovish outlook for the economy by the Fed was to blame for the losses.

U.S. equities have reached an important juncture on the charts. The high this week brought the equities back to 50% of the recent April to May decline. The longer-term view suggests that a failure to penetrate this zone signals the renewal of selling pressure which could drive the market through the recent bottom.

September Treasury Bonds had a strong run to the upside this week. News that the U.S. housing market could attempt a double-dip recession helped lower yields. The Fed’s forecast for an economy that is “proceeding” rather than strengthening was perceived as dovish, setting up the T-Bonds for another run to the upside. The chart indicates that upside momentum could drive this market through the May top at 126’05.

September Crude Oil closed sharply higher on Friday following a slight two-day setback. The main trend is up but the market is having trouble at a 50% level at 80.88. The market was driven higher on Friday by problems with the cap on the leaking oil well in the Gulf as well as the threat of a tropical storm early next week. Other oil rigs in the area could be threatened if the storm develops into something major.

The Euro rallied late in the trading session after an early session setback. Advances by U.S. stocks and commodities triggered a surge in demand for riskier assets.

The September Euro started the week strong but overbought conditions and fresh concerns about the European banking system following a downgrade of BNP Paribas by Fitch stopped the rally, triggering a technical closing price reversal top.

Later in the week, fresh economic data showing a slowdown in the U.S. economy and a dovish comment by the Federal Reserve helped stabilize the Euro, forcing it to trade in a range most of the week.

Investors seemed to shed Dollars in favor of the Euro most of the week after the Fed comments and poor U.S. housing data signaled that interest rates would remain low for a long time. Some are beginning to feel that Europe’s move to austerity may actually strengthened the Euro Zone economy before the U.S. gets its economy back on track.

Technically the Euro finished lower for the week but in a position to move either way. The main trend on the daily chart is up, but value is a concern for investors. This means that it may still be vulnerable to a near-term break into a retracement zone at 1.2171 to 1.2102. If appetite for risk continues to increase however, these traders waiting for a cheaper Euro may be left in the dust of the next up leg.

Friday’s rally helped form a new higher main bottom at 1.2209. This could mean the market is set up to move higher. A drive through the last main top at 1.2467 will solidify the uptrend and could trigger a breakout to the upside. The only thing standing in the way of an all out breakout to the upside is a pair of downtrending Gann angles at 1.2522 and 1.2591. Once these angles are cleared, look for the Euro to complete its weekly chart retracement to 1.2609 to 1.2782.

The September British Pound posted a strong gain this week buoyed by the release of the new U.K. budget and signs of a weaker economy in the U.S.

U.K. traders rallied the British Pound after the new government announced its budget plans, complete with calls for higher taxes and severe spending cuts. Traders accepted this news because it represents a better plan than the previous government. Even though some feel the spending cuts will hurt the economy in the short run, the long-term outlook for the U.K. economy looks a lot better.

Technically, the Pound is in an uptrend and looking strong after it blew through a key resistance zone this week at 1.4810 to 1.4947. A new main bottom was formed at 1.4686, creating further evidence that the buying was greater than the selling. Despite all of the strong action on the daily chart, the weekly chart is still in a downtrend making this market vulnerable to periodic short-term corrections.

Like the Euro, some investors feel the new budget proposal by the U.K. government has the British economy on track for a faster recovery than the U.S. Additional support for the British Pound this week also came from the news in the Bank of England minutes that one committee member voted for a hike in interest rates. The dovish tone in the Fed announcement suggests that its committee still feels that the U.S. economy is not ready for an interest rate hike. This could help underpin the Sterling over the near-term.


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.

Upgrade Your Trading experience. Try the Amazing Trader

Trading Ideas for 19 February 2018

Upgrade Your Trading. Try The Amazing Trader

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Mon 19 Feb 2018
00:00 CN, US- Holiday
Tue 20 Feb 2018
00:00 CN- Holiday
A 10:00 US- ZEW Survey
Wed 21 Feb 2018
00:00 CN- Holiday
A All Day flash PMIs
A 15:00 US- Existing Homes Sales
A 15:30 US- EIA Crude
AA 19:00 US- Fed Meeting Minutes
Thu 22 Feb 2018
A 09:00 DE- IFO Survey
A 09:30 GB- GDP
AA 13:30 CA- Retail Sales
A 13:30 US- Weekly Jobless
Fri 23 Feb 2018
A 10:00 EZ- Final HICP
AA 13:30 CA- CPI

John M. Bland, MBA
co-founding Partner,
Start trading with forex broker Markets Cube

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.

Request a TRIAL of Max's Forex Service.

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

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 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 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.



Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105