Forex News Blog
Back to The Headlines
Thursday April 27, 2006 - 08:44:31 GMT
Share This Story
ACM - www.ac-markets.com
Euro higher, other currencies not
By Marc Spaelti - ACM Senior Trader
Yesterdays News and Events:
The EURUSD has reached 1.2470, maintaining its 10-day bullish trend, next target ahead is the sep’05 spike of 1.2585. Meanwhile the other pairs have stalled or even retraced and the risk of seeing a deeper correction seems to increase.
News-wise it was not at all bad for the US currency, Durable Goods Orders in March increased a surprisingly strong 6.1% and the FED beige book was also supportive of good economic growth. This is really not the environment to aggressively sell US-Dollars, hence the slowing momentum of the European Currencies rise, but beware: any bad news out of the US will probably have a stronger effect on Forex markets and in this respect we look forward to Mr Bernanke’s testimony later on today.
Todays Key Issues:
Germany’s ILO Employment report showed a small 4k increase in March, unemployment decreased by 90k and the unemployment rate now stands a touch lower at 8.4% from 8.5% in February
Weekly Unemployment Claims at 12.30GMT are expected to rise slightly to 305k, the 4w average is due to stabilize around 305k as well.
FED Chairman Bernanke is due to speak from 2pm GMT onwards, the question will once again turn on the subject how far and how fast the US FED expects to rise interest rates.
The Risk Today:
4H EURUSD: The bullish trend is still in place and we continue making new highs. The orange medium-term resistance at 1.2485 is fairly strong resistance, target is 100 points higher at 1.2585, last seen in September 2005. Risk is to correct from here with space to at least reach the low 1.23’s, but even a return to 1.2150 cannot be ruled out.
4H GBPUSD: Unlike the Euro, the recent top form a descending resistance, top at 1.7900 looks still strong and we risk a pull-back to the 1-month bullish support at 1.7725 in the short-term. But while the immediate 1.7830 support remains in place, prospect for a furious move up to above 1.80 remains intact.
Resistance and Support:
|EURUSD ||GBPUSD ||USDJPY ||USDCHF |
|1.2580 K ||1.8000 M ||115.65 K ||1.2875 K |
|1.2520 M ||1.7935 K ||115.40 S ||1.2820 S |
|1.2485 S ||1.7895 S ||115.00 S ||1.2750 M |
|1.2450 ||1.7840 ||114.75 ||1.2705 |
|1.2440 T ||1.7830 S ||114.60 M ||1.2670 M |
|1.2400 S ||1.7800 M ||114.30 S ||1.2650 K |
|1.2355 K ||1.7730 K ||113.85 S ||1.2570 S |
|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
Trading Ideas for 12 March 2018
GVI Trading. Potential Price Risk Scale
Mon 12 Mar 2018
AA: Major, A: High, B: Medium
A 17:00 US- 3-Yr Auction
Tue 13 Mar 2018
A 10:00 DE- ZEW Survey
AA 12:30 US- CPI
A 17:00 US- 10-Yr Auction
Wed 14 Feb 2018
AA 12:30 US- Retail Sales
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 17:00 US- 30-Yr Auction
Thu 15 Mar 2018
A 12:30 US- Weekly Jobless
A 12:30 US- Philly Fed, Empire PMI
A 12:15 US- Industrial Production
Fri 16 Mar 2018
A 10:00 EZ- final HICP
A 12:30 US- Housing Starts/Permits
A 14:00 US- prelim Univ of Mich
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.