Forex News Blog
Back to The Headlines
Wednesday June 7, 2006 - 08:51:03 GMT
Share This Story
ACM - www.ac-markets.com
Euro holds its range ahead of the ECB meeting
By Marc Spaelti - ACM Senior Trader
Yesterdays News and Events:
EURUSD returned near the lower end of its trading range, after the 1.2885 support gave way early on. So far a low of 1.2790 was reached, 2-month bullish trend-line intersects here, holding this level today is important for traders with a view that the pair is just waiting for the ECB rate hike tomorrow to move through 1.30. Cable underperformed as it fell through its support at 1.8640, dropping through slow-rising 2-week trend-line. The Dollar was also well bid against the Yen, 113.40 was tested a first time on the back of Bernankeâ€™s hawkish and Mutoâ€™s dovish comments the night before. No news yesterday nor overnight, the Bank of Englands MPC meeting and especially the ECB rate announcement tomorrow overshadow financial markets this week.
Todays Key Issues:
Euroland April Retail Sales at 9amGMT ought to increase by 1%, reversing the prior months dip of 0.8%. YoY growth stands at 2.2%. German April Factory Orders are believed to grow by 1%, keeping YoY growth above a staggering 10%. Several FED officials are due to speak this afternoon, it will be interesting to see whether they will follow Bernankes effort of adding a more hawkish tone. US April Consumer Credit are due at 7pmGMT, they are expected to increase by at least $1Bln to $3.5Bln outstanding dept.
The Risk Today:
1-H EURUSD: The pair is going nowhere, range-trading within 1.2730 â€“ 1.2960 continues. A first strong support at 1.2790ish has held well this morning, currently we retrace and expect to top at 1.2840. Additional resistance 1.2885 and key 1.2960. To the downside a breech at 1.2790 has space for 1.2730 key support.
Daily USDJPY: 113.40 was tested a first time yesterday and again this morning. On the daily charts we seem to develop a bullish trend, support at 112.20 today, a close above the still key 113.40 level will open the path towards 114.85/115.10. Minor support at 113.10 today, more at 112.60, look to buy dips, next short-term rise should yield 113.85.
Resistance and Support:
|EURUSD ||GBPUSD ||USDJPY ||USDCHF |
|1.2960 K ||1.8775 S ||114.25 M ||1.2300 M |
|1.2885 S ||1.8700 M ||113.85 S ||1.2260 K |
|1.2845 T ||1.8640 P ||113.45 K ||1.2240 S |
|1.2800 ||1.8580 ||113.45 ||1.2190 |
|1.2790 T ||1.8570 M ||113.10 M ||1.2185 S |
|1.2735 K ||1.8530 S ||112.40 S ||1.2140 M |
|1.2660 S ||1.8450 S ||111.55 K ||1.2040 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 23 July 2018
AA: Major, A: High, B: Medium
A 14:00 US- Existing Homes Sales
Tue 24 July 2018
Wed 25 July 2018
A 08:00 DE- IFO Survey
A 14:00 US- New Homes Sales
A 14:30 US- EIA Crude
Thu 26 July 2018
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
A 12:30 US- Durable Goods
Fri 27 July 2018
AA 12:30 US- GDP
A 14:00 US- Final University of Michigan
John M. Bland, MBA
co-founding Partner, Global-View.com
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.
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.