User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday November 25, 2010 - 03:46:48 GMT
FX Thoughts for the Day -

Share This Story:
| | Email

Morning Briefing : 25-Nov-2010 -0334 GMT


Santa Clause rally is on in Wallstreet with Dow clocking a gain of 1.37% to close at 11,187 and S&P gained 1.49% to close at 1198. As we have been saying for past few days that as long as Dow is holding above 10,900, the trend remains up. Yesterday saw some heavy duty economic releases from US, from Home sales, durable goods orders to personal income and spending. US durable goods and homes sales dissapointed but personal spending numbers came in line with estimates. However, data does not matter when market has made up its mind head higher. Immediate resistance is around 11,220 and above that 11,400. Key support is now 11,000 on a closing basis.

Santa clause is not only coming to town in Wallstreet, but also in Asia too. As we step into trade this morning, it feels good to see loads of green ticks on screen. Hanseng is trading at 23,103 (up 0.34%), Nikkei at 10,074 (up 0.44%), Shanghai at 3013 (up 0.61%) and an odd downtick is coming in Seoul with Kospi at 1918 (down 0.40%). Yesterday Nifty plunged and this time it was another scam, Loan scam. Nifty closed down 1.16% at 5865. It feels like a season of scams, from CWG, to 2G to now loan scam. Too many adverse factors the bulls have to battle to get Nifty back above 6000. We do not know whether Nifty is on Wave 3 of Elliot study but it definately seems India is seeing a BUll Market in Corruption. Key support is around 5820-5800, below that 5700 opens up and key resistance cluster is between 5980-6025, a break above 6025 would be a very bullish.

Crude (83.84) has risen sharply above 83 yesterday. The positive economic data, pre-holiday short covering overshadowed the stronger dollar and the EIA's data release showing an unexpected increase in the US Crude inventories. As mentioned earlier Resistance is seen in 84.00-85.00 region a strong break above which will have to be seen for further rally towards 90+ levels. Strong Support is seen at 80.

Gold (1370.10) is continuing to trade near the 1380-90 Resistance region. With lack of strength on either side of move, the immediate outlook is not clear and we might expect the commodity to be ranged between 1350-90 for some time.

Some stability coming into currencies since yesterday after the sharp rise in the Dollar the day before. Today should be quiet since the USA is on Thanksgiving holiday. Many will say "Thanks" for that :-)

Overall, the Dollar Index (79.70) is still holding onto its gains. Serious profit-taking in the Dollar might only come in next week. The Euro (1.3315) has important Support in the 1.3280-30 region and might bounce to 1.3450 while that holds. The IFO came out better than expected yesterday, but could be close to peaking. Take a look at

The Cable (1.5757) might be bearish overall now, having broken below an important trend Support at 1.5950 day before yesterday. Dollar-Yen (83.45) is trading sideways between 83.75-00 and seems to be basing for a rise towards 84.00. The Monthly chart is looking very bullish. Dollar-Swiss (0.9963) seems poised to move up to test the 100-day MA at 1.0071. Surprisingly, the Aussie (0.9762) seems to be showing no strength at all, falling sharply today after having seen a relief rally to 0.9850 yesterday. A further dip towards 0.97 is possible.

Among the Emerging currencies, the Korean Won (1150.50) has recovered a bit from the level of 1169 seen day before (the day of the North Korean attack), but is weaker than yesterday's level of 1140. Watch important level of 1160 now for further direction. The Sing Dollar (1.3103) had also gained a bit yesterday, but seems to be weakening again today. The Brazilian Real (1.7220) has strengthened a bit, but the market needs to remain below 1.73 if it wants to gain further. Else, we may look for weakening towards 1.74-75 in the medium term.

Dollar-Rupee had closed 45.70 near yesterday. The immediate outlook for the day is uncertain.

The 3M USD LIBOR was up 1 bps to quote at 0.29%. The 2Y yields and 10Y yields were up 8 bps and 11 bps to quote at 0.54% and 2.91% respectively. The yields surged after a lukewarm response to the $29 bln auction of 7Y Notes yesterday.

Spain postponed its Euro 13.5 bln auction of the state-guaranteed power revenue bond until market stability prevails. The Spanish 10Y debt commands a premium of 235 bps above the similar maturity German Bunds.

No major data release today

Oct GER IFO Business Climate
...Actual 109.3...Previous 107.7

US Oct Personal Income
...Actual 0.5%...Previous 0.0%

US Oct PCE Price Index M/M
...Actual 0.0%...Previous 0.2%

Oct US Durable Goods Orders
...Actual -3.3%...Previous 5.0%

Oct US New Home Sales
...Actual 283K...Previous 308K



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

Mon 19 Mar 2018
Tue 20 Mar 2018
AA 9:30 GB- CPI
A 10:00 DE- ZEW Survey
Wed 21 Mar 2018
AA 03:00 AU- Employment
AA 9:30 GB- Employment
A 12:30 US- Current Account
AA 14:00 US- Existing Homes Sales
A 14:30 US- EIA Crude
A A 18:00 US- Fed Rate Decision
A 21:00 NZ- RBNZ Rate Decision
Thu 22 Mar 2018
AA All Day flash PMIs
AA 9:30 GB- Retail Sales
AA 12:00 GB- Bank Of England Decision
A 13:30 US- Weekly Jobless
Fri 23 Mar 2018
AA 12:30 CA- CPI/Retail Sales
A 12:30 US- Durable Goods
A 14:00 US- New Homes Sales

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