User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday September 17, 2010 - 12:58:53 GMT
Forex Hound -

Share This Story:
| | Email

U.S. Equity Markets Breaking Out to Upside

Increased demand for higher risk assets overnight is helping to drive U.S. equity markets overnight.  After several days of sideways trading, and the appearance that the markets were going to remain rangebound, the December E-mini S&P 500 finally broke out to the upside; leading to speculation that today may be a “risk on” day.


Overnight the S&P took out two former tops at 1122.00 and 1124.50, and a key Fibonacci level at 1128.00. Now that the market has broken out over this level, look for them to become new support. The daily chart indicates there is room to rally up to at least 1160.75 over the near term. On the downside, a failure to hold support could trigger the start of a break to 1103.25.


Greater demand for risky assets is also helping to pressure December Treasury Bonds. Currently this market is testing a Fibonacci level at 129’11 and a Gann angle at 129’10. Look for a test of the week’s low at 129’05 if this support cluster is violated. The daily swing chart indicates 128’05 is a potential downside target.


Fundamentally, the T-Bonds are a tricky market at this time. Fed buying and weak economic reports should be supportive, but there is new supply hitting the market this week because of a new Treasury auction. In addition, there may be an allocation going on between equities and debt.


November Crude oil has sold off this week because of concerns over increased supply. Technically the main trend on the daily chart is up as long as the 74.24 bottom holds. An uptrending Gann angle and 50% level at 75.49 and 75.18 respectively is currently providing support. Increased demand for risk could help drive this market higher.


Higher crude oil prices and increased appetite for risk are helping to support the Canadian Dollar overnight. It looks as if it could be a “risk on” day today which will be beneficial to all the higher yielding currencies.


Another session of selling pressure in the crude oil market helped weaken the Canadian Dollar on Thursday, sending the U.S. Dollar slightly higher against the Loonie. Thursday’s trading session also had a “risk off” theme which triggered some light shedding of higher risk assets, contributing to the Canadian Dollar’s weaker tone.


Technically, following a recent sharp rise, the December Canadian Dollar formed a daily closing price reversal top which was confirmed on September 15. The lack of follow-through to the downside helped to prevent this market from finishing its counter-trend retracement to .9636. A rally through .9768 will negate the reversal top and likely trigger an acceleration to the upside.


Overall, there are concerns the Canadian economy is slowing down. Lower crude oil is hurting exports, but the weaker U.S. economy may be having a bigger influence on the Canadian economy than estimated earlier. Some traders are saying that the Bank of Canada’s recent rate hike may do more harm than good for the economy.


The December Euro is trading sharply higher overnight as speculative buyers continued to drive the market on the notion that the Euro Zone economy will recover faster than the U.S. economy.


On Thursday the Euro rose to its highest level in more than a month after a strong debt auction in Spain relieved investor concerns about the county’s ability to tap capital markets for investment. The rally took the market to 1.3116, the highest level since August 11, as investors perceived the success of the Spanish auction as a sign that the country’s sovereign debt issues from the Spring were subsiding.


The December Euro is trading higher overnight but in a tight range as capital markets are still adjusting to the huge intervention which began on Tuesday night. Trading has slowed to a crawl as investors assess the impact of Wednesday’s intervention and the outlook for further Yen selling from Japanese officials. 


Many feel that the Japanese government is not finished weakening its currency and are unwilling to step in the market on either side until there are signs of breakout in either direction. A small group of traders seem to be willing to buy the support and sell the rallies while the market remains inside of its tight range.


The market appears to be drifting lower at a slow pace. The daily chart indicates that a break through 1.1557 is likely the trigger point for the start of an acceleration to the downside.


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."

Actionable trading levels delivered to YOUR charts in real-time.

Register To Test Your Amazing Trader

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

Tue 31 July 2018
AA JP- Bank of Japan
A 06:00 DE- Retail Sales
A 09:00 EZ- flash HICP/GDP
AA 12:30 US- Core PCE Deflator
A 14:00 US- CB Consumer Confidence
Wed 1 Aug 2018
A Final Mfg PMIs
AA 12:15 US- ADP Private Payrolls
A 15:00 US- EIA Crude
AA 18:00 US- Federal Reserve Decision
Thu 2 Aug 2018
AA 11:00 GB- Bank of England Decision
A 13:30 US- Weekly Jobless
Fri 3 Aug 2018
A Final Services PMIs
AA 12:30 US- Employment
A 12:30 US/CA- Trade

John M. Bland, MBA
co-founding Partner,

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.

Contact us

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.



By using this website, you are agreeing to our Privacy Policy and Terms of Use, and Cookie Policy

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