User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday August 27, 2010 - 00:59:44 GMT
Forex Hound - www.forexhound.com

Share This Story:
| | Email

December Gold Posts Reversal Top

December Gold posted a closing price reversal top on Thursday after an attempted breakout to the upside failed to attract strong buyers. You can’t really blame the slightly better than expected U.S. Weekly Initial Claims report for putting in the top, but this news did contribute to the day-long decline as sentiment shifted away from risk aversion.

 

Gold traded sharply lower early this week as traders dumped risky assets because of the cooling economy. December Gold attracted fresh buyers after a dip to $1211.70 as investors sought protection from a falling equity market. The low yields in Treasurys also encouraged investors to buy Gold.

 

Continue to expect these asset allocation shifts between gold, fixed income, equities and currencies as investors try to rebalance their accounts to catch undervalued markets. Wednesday’s rally in Gold may have been a signal that investors are fed up with weak equity markets and not interested in the low yields offered by the Treasury markets.

 

December Crude Oil followed through to the upside following Wednesday’s closing price reversal bottom. Based on the range of 84.45 to 72.35, the market is set up for a retracement to a 50% level at 78.41 but this seems unlikely unless upside momentum picks up. A downtrending Gann angle at 75.95 could limit gains on Thursday.

 

Equity markets rallied early Thursday following a slightly better Weekly Initial Claims Report but were unable to hold onto gains as worry about tomorrow’s speech by Bernanke and the Second Quarter GDP estimate proved too much for investors to handle.

 

Even after Wednesday’s technical reversal and follow-through this morning, traders had to be asking themselves, “what the heck are we doing on the long side of this market”. After this week’s dismal housing and durable goods reports, there was very little reason to stay with the long-side of the market especially ahead of Bernanke’s speech to the central bankers at the conference in Jackson Hole, Wyoming

 

After trying to maintain a “risk-on” mentality early in the session, sentiment shifted to risk aversion triggering a break in equities and a rally in the Treasury Bond market. Traders will be watching this week’s low in the September E-mini S&P 500 very carefully tomorrow. The charts indicate that there may be a freefall if 1038.75 is taken out with conviction.

 

Forex Trading News

Forex Research

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 here.

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

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

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.

Contact us

Start trading with forex broker Markets Cube




pic

Retail Forex Brokerage Changing!

Are you 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.

Our Best Brokers listing section includes:Forex Broker Reviews, Forex Broker Directory, Forex Broker Comparisons and advice on How to Choose a Forex Broker

If would like guidance, advice, or have any concerns at all ASK US. We are here to help you.

SEE Our Best Brokers List

Currency Trading Tools

  • Live rates, currency news, fx charts. 

  • Research reports and currency forecasts.

  • Foreign Exchange database and history.

  • Weekly economic calendar.

Directory of  Forex trading tools

 
Terms of Use    Disclaimer    Privacy Policy    Contact    Site Map


Forex Forum
Forex Trading Forum
Forex Forum + forex rates
Forex Forum Archives
Forex Forum RSS
Free Registration

Trading Forums
Currency Forum Guide
Forum Directory
Political Forum
Forex Brokers
Compare Forex Brokers
Forex Broker News
Forex Broker Hotline

Forex Trading Tools
Currency Trading Tools
Forex Database
FX Chart Points
Risk/Carry Trade Chart Points
Economic Calendar
Quicklinks to Economic Data
Currency Futures Swaps
Fibonacci Calculator
Currency Futures Calculator

Forex Education
Forex Learning Center
FX Trading Basics Course
Forex Trading Course
Forex Trading Handbook

Forex Analysis
Forex Forecasts
Interest Rate Forecasts
Central Bank Forecasts

FX Charts and Quotes
Live FX Rates
Live Global Market Quotes
Live Forex Charts
US Dollar Index Chart
Global Chart Gallery
Daily Market Tracker
Forex News
Forex Blog
Forex News
Forex Blog Archives
Forex News RSS
Forex Services
The Amazing Trader
Forex Opportunities
Forex Affiliates
Forex CopyTrading
GVI Forex