Forex News Blog
Back to The Headlines
Friday April 21, 2006 - 09:16:11 GMT
Share This Story
ACM - www.ac-markets.com
By Marc Spaelti - ACM Senior Trader
Yesterdays News and Events:
The Dollar has rebounded from its lows on Wednesday, excesses in Gold and Silver have been corrected with in a sharp drop, the Euro and the Pound sterling have each lost about 38% from their respective high this week. CPI data in Europe helped the direction of traders banking on a correction with an annualized CPI in the UK falling to 1.8% from 2.0, as a confirmation of a step towards monetary easing in the months to come. Euroland CPI was also a touch lower than expected, while the reported 2.2% YoY rise is still above the ECB’s target of ‘under 2%’, fears of an increase have been dampened and may cause some analysts to reduce their too hawkish views of up to 3 rate increases by end 2006.
The Philadelphia FED Index improved to 13.2 from 12.3 in March. Weaker then expected it had temporarily stopped the Dollar recovery.
Todays Key Issues:
No relevant trade data today.
The Risk Today:
1H EURUSD: The retracing trend-line was broken a little while ago at 1.2305 and the pair spike to 1.2350 in a rash move before returning to 1.2320. Looks like we will have a day of side-ways movement, consolidating around 1.23 with initial resistance 1.2325 and stronger at 1.2360, 1.2400 should top the market. Underneath a fall underneath of 1.2305 should see it try the 1.2270 level once more and advance to 1.2235 for a low weekly close.
1H USDCHF: It has retraced to 1.2820 and achieved a first target to the upside, this morning a sharp sell-off saw it dip to 1.2735, but the hour may still close above the current bullish trend-line, in which case we advocate a new try of the 1.2820 level and see the possibility to rise to 1.2880 for a high weekly close. Alternative is a neutral day between 1.2720 and 1.2800.
Resistance and Support:
|EURUSD ||GBPUSD ||USDJPY ||USDCHF |
|1.2475 K ||1.7935 K ||118.65 K ||1.2935 K |
|1.2400 S ||1.7885 S ||118.00 M ||1.2880 S |
|1.2360 M ||1.7830 M ||117.85 S ||1.2820 S |
|1.2325 ||1.7820 ||117.35 ||1.2775 |
|1.2300 M ||1.7770 M ||117.30 M ||1.2730 M |
|1.2260 S ||1.7715 S ||117.15 S ||1.2680 S |
|1.2190 S ||1.7660 K ||116.35 K ||1.2565 K |
|S: Strong, M: Minor, T: Trendline, K: Keylevel, P: Pivot |
Forex Trading News
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
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
Mon 19 Mar 2018
AA: Major, A: High, B: Medium
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, Global-View.com
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.