User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday May 3, 2004 - 11:28:54 GMT -

Share This Story:
| | Email

British Cable - Cable/Dollar facing significant resistance at the 10-day SMA

British Cable - Cable/Dollar facing significant resistance at the 10-day SMA

GBP/USD facing significant resistance at the 10-day SMA
USD/CHF holding above daily trend line

Technical Outlook

On Friday, EUR/USD closed comfortably above the 200-day SMA as the pair continued its short-term rally. Bulls still need to regain 1.2080, high of 04/19, to alter the streak of lower highs we have seen over the past two months. On defense, stochastic is close to overbought and a pullback may be needed, Friday's low at 1.1920 must be sustained to keep the positive momentum flowing. USD/JPY has spent the past two sessions trading around the psychological level of 110, also the 200-day MA. The daily uptrend remains bullish and YTD high at 112.35 is within reach. As long as the pair can defend 109.50, a convergence of 04/29 low and the 10-day SMA, buyers will be in good shape. A pullback maybe needed to digest gains however with stochastic in overbought region. The rally in GBP/USD is stalling with the pair experiencing significant difficulty breaking 1.7810, a confluence of 04/29 high, 04/30 high and 38.2% fibo of Sep - Feb bull wave. Bulls need to penetrate this level as soon as possible as there are plenty of traders looking to short into this rally, looking for a retest of YTD low at 1.7580. Only a close above 1.7975, high of 04/28 would complete the double bottom and alter the primary downtrend. USD/CHF is at a pivot point after spending entire last week giving back gains from breakout. On Thursday and Friday bulls faced significant pressure and responded well. Stochastic now near oversold region and bargain hunters will defend the pair as long as it can protect at 1.2890, a convergence of the low of breakout candle on 04/20. If they can regain major psychological level of 1.3000, the 200-day EMA, a retest of the YTD high will shortly follow. Losing the anchor established in past two sessions on the other hand, would signal a change in primary trend.


Comment from 04/01
On 03/11 EUR/CAD had a low at 6142 (slightly below our 6150/6200 area) before a rally to the 6520 high on 03/18, 378pts higher. Today, the outlook is bearish since we broke the 6200 base. Yesterday's move higher looks like a standard breakout retracement. As a result, bears will try to add into the loonie at 6220/6250 thanks to the 20 EMA (ADX>30), 100 SMA, breakout pt now R and 38.2% Fibo from the Nov - Feb bull wave. More conservative bears will try the 6480/6510 area in order to exploit the 50 SMA and 23.6% Fibo from the Nov - Feb bull wave. On the other side of the fence, bulls will enter at 5780/5820 to benefit from the 200 SMA and 61.8% Fibo from the Nov - Feb bull wave. Below, 5500/50 is to watch thanks a strong Fibo confluence (76.4% Fibo from the Nov - Feb bull wave & 38.2% Fibo from the Feb - Aug bear wave).

On 04/05 EUR/CAD had a low at 5731 (below our 5780/5820 zone) before a rally to the 04/19 high at 6242, 511pts higher. The market had a correction below to the 04/27 low at 5987, 255pts lower. The market then rallied to yesterday's high at 6518. The outlook is now quite neutral since we are back to the upper side of the range. Reversal players who are not already short will probably try some reversal plays at 6540/70 in order to exploit the High BB and a robust Fibo confluence (76.4% Fibo from the Sep - Mar bull wave and 61.8% Fibo from the Mar bear wave). If a sustained breakout above occurs 6700 will be the next major R. On the downside, bulls will have decent dip buying opportunities at 5930/60 and 5670/5700. The first area is the 200 SMA and 50% Fibo from the Sep - mar bull wave. The second is the Low BB and another robust Fibo confluence (38.2% Fibo from the Sep - Mar bull wave & 23.6% Fibo from the 00 - 03 bull wave).


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