User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday May 17, 2005 - 09:32:29 GMT

Share This Story:
| | Email

Dollar prepares to defend its gains against majors


Previous session overview:

Euro crosses posted the biggest gains with euro gaining against the Cable, Canadian dollar and the Aussie. Dollar continued to dominate price action against the cable and the antipodeans. Cable crosses posted the biggest one-day declines with /Yen losing close to 1.5% from the previous session



EUR/USD * Euro bulls made a stand against the advancing dollar bulls and managed to temporarily hold off the dollars progress. As the euro bulls and the greenback longs continue to oppose each other, defensive positions shifted before as the clash of the titans is about to take place. Euro bulls continue to rely on defences from the previous session, with minor support at 1.2541, Mar 1, 2004 daily spike low. An intermediate support at 1.2495, a Feb 20, 2004 daily spike high, remains intact, with major support seen 1.2462, a July 19 daily high. The psychologically important level at 1.2000, a start of the 1.2000-1.3667 euro rally remains a key target for the greenback bulls as a break below the 1.2000 will most likely see the pair test the bids around 1.1760, a 2004 low. As the greenback longs get ready to resume their advance, their defensive positions have shifted with euro longs encountering minor resistance at 1.2668, an Oct 25 daily low. If the euro bulls manage to push their way through the initial dollar defences, they will meet an intermediate resistance at 1.2716, 5-day SMA, with major resistance seen at 1.2803, a 10-day SMA. Oscillators are mixed, with Stochastic oversold on the daily chart at 12.21 and neutral at 42.73 on the dealer (4HR) chart. RSI is oversold on the daily chart at 27.02 and is treading above the oversold line at 33.26 on the 4-hour chart. MACD remains below zero line on the daily chart and made a bullish crossover below the zero line on the dealer (4HR) chart.



USD/JPY * Yen bulls charged the dollar positions in an all out attack taking the advancing greenback bulls completely by surprise. As the dust settled, dollar longs retreated and redeployed their defences at the lower levels, with minor at 106.54, a 50.0 Fib of the Apr-May yen bull swing. An intermediate support at 105.98, a 38.2 Fib of the 108.89-104.16 yen rally, currently defends the major support at 105.73, a 10-day SMA, from the yen longs. As the dollar bulls readying themselves for a counterattack, vanguard dollar forces will encounter a minor resistance at 107.48, an Apr 20 daily spike high. An intermediate resistance is seen at 107.89, a 78.6 Fib of the 108.89-104.16 yen rally, wit ha further breakout meeting a major resistance at 108.47, Apr 12 daily spike high. Indicators are mixed with Stochastic slopping upward toward the overbought line at 61.08 and approaching the oversold line at 29.29 on the dealer (4HR) chart. RSI is neutral on the daily chart at 59.08 and is neutral at 59.74 on the 4-hour chart. MACD is slopping upward toward the zero line on the daily chart and made a bearish crossover above the zero line on the dealer (4HR) chart.



GBP/USD * Cable bulls were hit hard once more as the dollar invasion continued, with advancing greenback longs capturing additional territory from the sterling. As the dollar bulls maintain their advance, cable bulls shifted their defences with minor support at 1.8309, a Nov 5 daily spike low, providing the first line of defence. An intermediate is seen at 1.8225, an Oct 22 daily spike low, with major support being established at 1.8137, a 78.6 Fib of the 1.7752-1.9550 cable rally. In an instance of the pound longs decide to retaliate, they will meet a minor resistance at 1.8440, a 61.8 Fib of the 1.7752-1.9550 sterling rally. A move deeper into the dollar held territory will encounter an intermediate resistance at 1.8505, a Feb 10 daily spike low, with a break in the greenback defences colliding with a major resistance at 1.8595, a Mar 28 daily spike low. Oscillators remain aligned. Stochastic is extremely oversold on the daily chart at 8.68 and remains oversold at 14.24 on the dealer (4HR) chart. RSI is oversold on both the daily chart at 23.47 on the 4-hour chart at 22.02. MACD remains below the zero line on the daily chart and is getting ready for the bullish crossover below the zero line on the dealer chart.



USD/CHF * Swissie remained neutral as the price action ground to a halt after the dollar bulls pushed the pair up against the 2005 high, but failed to advance further as momentum waned in light of the recent gains made by the dollar bulls. As the Swissie and the greenback bulls continue to lock horns, defensive positions on both sides remain intact, with dollar bulls continuing to rely on a minor support at 1.2197, an Apr 14 minor swing high. An intermediate support at 1.2146, an Apr 5 daily spike high, continues to defend the major support at 1.2076, a 50.0 Fib of the 1.2858-1.1288 CHF rally. As the dollar bulls continue to target Swiss Franc positions, they will encounter minor resistance at 1.2320, a June 8 daily spike high. A further advance will meet an intermediate resistance at 1.2379, an Aug 16 daily low, with major resistance remaining intact at 1.2405, an Aug 20 daily low. Oscillators are mixed. Stochastic is overbought line on the daily chart at 86.64 and is neutral at 51.39 on the dealer (4HR) chart. RSI is overbought on the daily chart at 70.78 and is dipping below the overbought line at 60.47 on the 4-hour chart. MACD is treading above the zero line on the daily chart and made a bearish crossover on the dealer (4HR) chart.





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 10 Sep 2018
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 14:00 US- prelim University of Michigan

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