User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday September 21, 2010 - 03:42:54 GMT
Forex Hound -

Share This Story:
| | Email

Easing of Irish Debt Concerns Help Boost U.S. Equities

The easing of concerns regarding Irish sovereign debt helped the December E-mini S&P 500 overcome the selling pressure that triggered a closing price reversal top on Friday, triggering a resumption of the breakout to the upside.


The market was trading higher ahead of a town hall talk by President Obama broadcast live on CNBC at about the mid-session. After a sideways trade during the talk, the market rallied to a new high for the day. Evidently Mr. Obama said something bullish or he didn’t say something bearish. Either way, upside momentum was strong enough to continue the rally. Traders could have been anticipating a dovish tone by the Fed tomorrow which means low interest rates are expected to continue, thereby keeping down the borrowing costs.


Technically, Friday’s closing price reversal was never confirmed, and Monday’s rally negated the pattern. The daily chart pattern suggests this market has room to rally to 1160.00.


December Treasury Bonds traded higher but in a tight range as traders awaited Tuesday’s Federal Open Market Committee meeting decision. Investors are anticipating the Fed will keep interest rates low, but could have been speculating today that the FOMC will implement additional quantitative easing.


On Friday, the T-Bonds formed a closing price reversal bottom after testing the .618 retracement level at 129’11.


A trade through Friday’s high at 130’29 will confirm the reversal bottom and should trigger a breakout rally to the upside with 132’12 the next potential upside target.


The December British Pound fell against the Dollar amid reports that showed the U.K.'s M4 money supply unexpectedly dropped in August and mortgage lending continued to slow in July. Traders were also paring positions ahead of the release of the Bank of England minutes on September 22.


Technically, look for the Sterling to continue to weaken into a short-term retracement zone at 1.5512 to 1.5461. An uptrending Gann angle inside this zone could provide additional support. Watch for the market to settle into this zone or encourage profit-taking following the break.


The December Japanese Yen gained a little ground as traders pared short positions ahead of the Tuesday’s FOMC meeting. Trading has been in a tight range since last Wednesday’s intervention. Fear that the Fed may decide on additional quantitative easing weakened the Dollar versus the Yen.


Technically, the Yen is having trouble breaking through an old bottom at 1.1651. Once this price level is cleared, the charts indicate there is room to the downside. The worst case scenario has this market eventually breaking to a major 50% price level at 1.1317, but this is not likely to occur unless Japanese officials intervene once again.  On the upside, a short-covering rally to a retracement zone at 1.1913 to 1.1863 is likely to attract fresh selling.


The U.S. Dollar traded slightly lower versus the December Euro as traders factored in the possibility of more monetary policy easing by the Federal Reserve at tomorrow’s Federal Open Market Committee Meeting.


The FOMC is not expected to take action on interest rates, but may announce another round of bond purchases, known as quantitative easing. This action is supposed to act as stimulus to help revive the ailing U.S. economy.


Since the summer, a series of economic reports have indicated that the U.S. economy is stalling. Although a double-dip recession is now a remote possibility, based on recent Fed language, the central bank feels that the economy has slowed down enough to warrant further quantitative easing.


On Monday the Euro held on to its slight gains despite more rumors of sovereign debt problems in Ireland and Portugal. One analyst described the situation as “ugly” particularly in the Irish and Portuguese bond markets.


Technically, the December Euro had an inside day following Friday’s closing price reversal top. Overnight, bullish traders defended last Friday’s low at 1.3019, thereby preventing the confirmation of the reversal pattern. A confirmation of this pattern could trigger the start of a break to 1.2901. A trade through 1.3159 will negate the pattern and should trigger an acceleration to the upside. Throughout the day, the Fibonacci level at 1.3049 provided support.



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 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 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