Forex News Blog
Back to The Headlines
Wednesday August 23, 2006 - 09:08:36 GMT
Share This Story
ACM - www.ac-markets.com
Buy Euros again after yesterdays dip
By Marc Spaelti - ACM Senior Trader
Yesterdays News and Events:
German ZEW slipped into negative territory in August, the Index was reported at -5.6 in August, its lowest level in 5 years and far off from its mean of +35. EURUSD broke through the bullish 2-day trend-line and dipped to a low of 1.2785 before the day ended, other Currency pairs followed: Cable corrected nearly 150 pips from its 1.90 top to 1.8855 and the USDCHF returned to above 1.23, holding on to its neutral range between 1.22 and 1.24. The rally of the Dollar was however stopped shortly before NY markets closed, short-term players took profit causing the EURUSD to end the day in bullish territory above 1.28.
USDJPY traded bid for most of Tuesdayâ€™s trading day, temporarily bypassing the medium-term bearish trend-line at 116.65. Here too, intra-day traders sold Dollars at the end of the day to take profit and the pair closed the day at 116.55, ready to be sold down to 116.10 in Asia.
Todays Key Issues:
It will be another day of technical trading as only little news broadcasts will disturb markets. The US Existing Homes Sales data is due at 3pmGMT, forecasts point to slightly weaker sales of 6.5m units in July, down from 6.62m in June.
The Risk Today:
1-H EURUSD: Tuesdays dip touched the (orange) medium-term rising support, earlier this morning the 2-day bearish trend-line was breeched and the pair retraced to 1.2830. Expectations are bullish, we look for a rise to 1.2880 today, first strong resistance on the way to 1.30. Risk is a fall back underneath of 1.2810 and retry of the medium-term support at 1.2790, a lower daily close puts the bullish view on hold and may cause a short-term dip to 1.2670.
Daily USDCHF: The neutral range is narrowing, 1.2260/1.2385, a breech on either side by the end of the week should set the direction of the overall move in September. Our bias is to the downside, for the stronger (green) trend to hold, hence a fall to 1.1960 is expected to come soon, looking a few weeks ahead we think a push for the 1.13/1.15 area will be seen. To the top a breech at 1.2385 risks 1.2450 in the short-term and 1.27 by mid-september.
Resistance and Support:
|EURUSD ||GBPUSD ||USDJPY ||USDCHF |
|1.2980 K ||1.9130 S ||117.35 S ||1.2425 S |
|1.2885 S ||1.9000 M ||116.65 K ||1.2375 K |
|1.2840 M ||1.8940 K ||116.40 M ||1.2345 M |
|1.2825 ||1.8915 ||116.20 ||1.2320 |
|1.2780 T ||1.8880 M ||115.90 S ||1.2310 M |
|1.2740 S ||1.8855 P ||115.35 M ||1.2260 M |
|1.2700 S ||1.8760 K ||114.65 K ||1.2060 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."
Elevate Your Trading With The Amazing Trader!
The Amazing Trader includes:
Register To Test Your Amazing Trader
- Actionable trading levels delivered to YOUR charts in real-time.
- Live trading strategy sessions.
- Market Updates with Trading Tools.
Trading Ideas for 11 December 2017
Register for the Amazing Trader
Amazing Trader EVENT RISK Calendar:
Tue 12 Dec
09:30 GB- CPI
10:00 GB- ZEW Survey
13:30 US- PPI
Wed 13 Dec
00:30 AU- Employment
09:30 GB- Unemployment
13:30 US- CPI
15:30 US- EIA Crude
19:00 US- Fed Decision
Thu 14 Dec
07:30 CH- SNB Decision
All Day- Global- flash PMIs
12:00 GB- Bank of England Decision
12:45 EZ- ECB Decision
13:30 US- Retail Sales
13:30 US- Weekly Jobless
14:45 US- Industrial Production
Potential Trading Opportunities
John M. Bland, MBA
- POTENTIAL PRICE RISK: Mediun Tue--10:00 GMT-- DE- ZEW. Second Tier Sentiment Survey
- POTENTIAL PRICE RISK: HIGH-Medium Tue--13:30 GMT-- US- PPI
- POTENTIAL PRICE RISK: HIGH-Medium Wed--09:30 GMT-- GB- Employment
- POTENTIAL PRICE RISK: HIGH Wed--13:30 GMT-- US- CPI
- POTENTIAL PRICE RISK: Medium Wed--15:30 GMT-- US- EIA Crude
- POTENTIAL PRICE RISK: High Wed--19:00 GMT-- US- Fed Decision
- POTENTIAL PRICE RISK: HIGH- Thu --00:30 GMT-- AU- Employment
- POTENTIAL PRICE RISK: Medium- Thu --All day-- global- flash PMIs
- POTENTIAL PRICE RISK: HIGH-Medium- Thu --07:30-- CH- Swiss National Bank Decision
- POTENTIAL PRICE RISK: HIGH-Medium- Thu --09:30-- GB- Retail Sales
co-founding Partner, Global-View.com
EXCLUSIVE: Global-View Daily Trading Chart Points Updated
EXCLUSIVE: Global-View Free Forex Database updated
TRADER ADVOCACY ARTICLES
Trader's Advocate Articles..