stock markets finished sharply lower on Friday although a short-covering rally
late in the session pared a decent portion of the loss. The indices accelerated
to the downside after the Euro broke through last weekâ€™s low at 1.2518.
The move in the Euro began as a report that Franceâ€™s
president had threatened to pull his nation out of the Euro Zone. French
President Nicolas Sarkozyâ€™s comments reignited the fear of a collapse in the
currency. Traders divested out of higher risk assets pressuring U.S.
Fear that the collapse in the Euro Zone will plunge the
world into another recession weighed on investorâ€™s minds as they pared
positions in anticipation of reduced future earnings.
The drop in the Euro spread worry throughout the global
equity markets which began to weaken overnight. This set up the U.S. equity
markets for the break following Thursdayâ€™s closing price reversal top.
Technically, the June E-mini S&P 500 is set up to
retrace at least 50% of the week-long rally. The move from 1056.00 to 1174.75
creates a retracement target at 1115.50 to 1101.50.
Pressure is on the June E-mini NASDAQ this morning.
Thursdayâ€™s closing price reversal top sets up a potential break to 1856.00 to
The bearish closing price reversal top on the daily E-mini
June Dow charts sets up a potential retracement to 10376 to 10251.
Stocks will take their cue from the Euro on Sunday night.
The weak close in the Euro has this currency in a position to take out the
so-called â€śLehman Brothers Lowâ€ť at 1.2329. At the time this low was made in
2008, the world was going through a credit crisis. Nonetheless, a break through
this level next week could trigger a psychological breakdown in the equities as
it will mean that the global economy is well on its way to repeating the same
mistakes which triggered the start of the sell-off in late 2008 and early 2009.
June Treasury Bonds soared on Friday in a flight to safety
rally. Based on the short-term range of 124â€™16 to 119â€™26, the market rallied
into the retracement zone created at 122â€™05 to 122â€™23. With equity prices
plunging and fear spreading across Europe,
traders want the protection the Treasury markets offer. Fridayâ€™s action was
relatively calm compared to last weekâ€™s movement.
The falling Euro and the strong Dollar did not trigger a
breakout rally in June Gold as expected. This came as a surprise, but it could
be related to margin calls in the equity markets. For weeks, gold has become
the safe haven currency. During the Greece financial crisis, money was
flooding into gold, driving it to an all-time high. At this time, Gold is
barely holding onto its gains which could be a reflection of margin calls
hitting stock traders. Traders often begin liquidating speculative positions to
meet margin calls in investments. This may have been the case in gold this
Technically, June Gold made a daily closing price reversal
top at $1249.70. Although it doesnâ€™t appear that the trend is getting ready to
turn down, this pattern may trigger a correction to $1203.00 to $1191.90.
June Crude Oil collapsed on Friday on the Euro break.
Bearish traders are becoming more confident that the problems in the Euro Zone
are going to slow down demand for crude oil. Downside momentum suggests that
70.75 is the next target over the near-term. Earlier in the week, a report from
the Energy Information Administration started the break with a report showing
that inventories had risen more than expected.
The June Euro touched its lowest level since October 2008 on
Friday as investors continued to pull out of the currency on the fear that
political and economic problems will lead to a collapse of the Euro Zone
economy. The rapid decline is pushing toward the so-called â€śLehman Brothers Low
at 1.2329. This support was established at the height of the global credit
crisis and marks a time when a global financial disaster was avoided.
Although some feel that the worldâ€™s financial system is
better prepared for a credit shock than it was back in 2008, a break through
this level will have psychological ramifications as well as symbolic meaning.
It will be used as a benchmark among global investors who will question whether
the world has learned anything following one of the greatest financial meltdownâ€™s
Besides the risk of sovereign debt default, investors are
now becoming concerned about the lack of activity and the inaction from the
European governments. Once again investors are asking the question â€śwhere is
the union in the European Unionâ€ť.
The inability to stop the slide in the Euro by pumping $1
trillion into the economy with basically debt on top of debt has convinced
investors that the EU has and had no plan to prevent the kind of currency
slaughter taking place at this time.Investors have grown weary of the reactive moves by the governments and
want to see more proactive action.
From the start investors have been asking for clarity from
the EU. No one wants to see a currency collapse, but without a firm plan in
place investors have had no options to consider except to sell the Euro.
Friday morningâ€™s selling pressure was rumored to have been
triggered by a story in a Spanish newspaper saying that French President
Nicholas Sarkozy was threatening to pull out of the Euro. Although his
statement has been denied a few times this morning, traders donâ€™t seem to
believe the denial.
Although the French have denied the negative statement from
President Sarkozy, the Euro continues to remain fragile. After Sarkozyâ€™s
denial, rumors began to circulate that serious discussions may be going to
decide the ultimate fate of the Euro. At this time emotions are running high in
the Euro Zone as it is becoming clearer that the financial cuts necessary to
make Europe financially sound will have huge
Even former Federal Reserve Chairman Paul Volcker has a
gloomy outlook for the situation. On Thursday during a stop in London he said â€śYou have
the great problem of a potential disintegration of the Euro. The essential
element of discipline in economic policy and in fiscal policy that was hoped
for has so far not been rewarded in some countries.â€ť
As support continues to erode for the Euro discussions will
increase as to how it will survive when there continues to be such a huge
disparity between those countries that have and those nations that have not.
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
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 LIVE to YOUR charts
Mon 27 May 2019 AAGB/US- Holiday Tue 28 May 2019 A 14:00 US- Consumer Confidence C 13:00 US- Case-Shiller Wed 29 May 2019 A 08:55 DE- Employment AA 18:00 US- BOC Decision A 18:30 US- EIA Crude Thu 30 Mar 2019 AAEZ/CH- Holiday A 12:30 US- Weekly Jobless Fri 31 Mar 2019 AA 10:00 EZ- Flash HICP A 12:30 US- Personal Income, Spending, Deflator AA 14:00 US- Final Univ of Michigan
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.
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.
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.
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 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 Global-View.com.
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 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.
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.
Global-View.com 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 Global-View.com. 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.
WARNING: FOREIGN EXCHANGE TRADING AND INVESTMENT IN DERIVATIVES
CAN BE VERY SPECULATIVE AND MAY RESULT IN LOSSES AS WELL AS PROFITS. FOREIGN
EXCHANGE AND DERIVATIVES TRADING IS NOT SUITABLE FOR MANY MEMBERS OF THE
PUBLIC AND ONLY RISK CAPITAL SHOULD BE APPLIED. THE WEBSITE DOES NOT TAKE
INTO ACCOUNT SPECIAL INVESTMENT GOALS, THE FINANCIAL SITUATION OR SPECIFIC
REQUIREMENTS OF INDIVIDUAL USERS. YOU SHOULD CAREFULLY CONSIDER YOUR FINANCIAL
SITUATION AND CONSULT YOUR FINANCIAL ADVISORS AS TO THE SUITABILITY TO YOUR
SITUATION PRIOR TO MAKING ANY INVESTMENT OR ENTERING INTO ANY TRANSACTIONS.