Forex trading BBC - Collapse of Euro next crisis.

Forex trading - watch this "The sovereign debt crisis has exposed a flaw in the design of the Eurozone. To make a currency strong you don't just need bank notes and a central bank, you need central authority and political will. Some in the markets, are beginning to see the euro not as a permanent currency for all time, but as temporary and fragile, as, well, Lehman Brothers."

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Forex trading system euro moved higher then fall

€ The euro appreciated sharply vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3840 level and was supported around the $1.3640 level.  The common currency added to intraday gains during the North American session as U.S. equities were on the positive side out of the gate.  Many rumours circulated during the European and North American sessions involving Greece's deficit problems.  First, dealers reacted to chatter that European Central Bank President Trichet cut short a trip to Sydney where he was meeting with central bank governors and returned to Europe for an emergency meeting of the ECB, a story the central bank denied.  Later, it was reported by a senior German ruling coalition "source" that eurozone governments have decided in principle to help Greece but a German spokesman later denied the report.  In addition to Greece, traders remain fixated on the deficits of Spain and Portugal.  The so-called sovereign credit crisis will likely extend to other countries outside of the eurozone in due course but in the short-term, the issue remains a net negative for the common currency.  European Union leaders will convene on Thursday to discuss strategies to accelerate economic growth but Greece is not currently on the agenda.  Data released in the eurozone today saw Germany's December trade surplus print at €16.7 billion, down from €17.0 billion in November.  Also, German December consumer price inflation was confirmed at -0.6% m/m and up +0.8% y/y.  In U.S. news, data released in the U.S. today saw December wholesale inventories off 0.8%.   Data to be released in the U.S. tomorrow include MBA mortgage applications and the December trade balance.  The Federal Reserve will release testimony tomorrow by Fed Chairman Bernanke regarding the Fed's strategy to exit its low interest rate and liquidity programs.  Bernanke was to testify before the House Fi [...]

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Forex trading system Forex news

€ The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3710 level and was supported around the $1.3620 level.  Dealers lifted the common currency during the North American session but the pair remains on a downward trajectory, having traded on Friday at its lowest level since May 2009.  PIMCO's El-Erian today reported the global bond giant prefers German government bonds over U.S. Treasuries.  This statement highlights the drastic reassessment of sovereign risk the markets are currently undertaking.  Eurozone debt remains highly volatile and Greek 10-year paper is currently trading more than 400 bps wider than German 10-year paper.  The debt situations in Portugal, Spain, and Ireland are also causing the euro some weakness.  Dealers are currently focusing on the likelihood the International Monetary Fund will need to bail out Greece and perhaps some other European countries if they cannot manage their debt crises themselves.  Group of Seven officials finance ministers and central bankers convened in Canada this weekend and indicated they would continue their fiscal stimuli to prop the slumping global economy.  Some central banks, however, are unwinding their stimulus programs at the same time.  Many G7-watchers were unimpressed with the meeting as it failed to provide any significant new details about the level of international support Greece and other aggrieved countries can expect if bailouts are required.  Spain today announced it will reduce net debt issuance by 34% in 2010 in a bid to remove public debt.  Deutsche Bank today revised its forecast for official European Central Bank interest rates hikes and now sees the main refinancing rate at 1.5% by the end of the year, down from the previous forecast of 2.0%.  ECB's Nowotny said every eurozone country needs to respect the bloc's fiscal rules and said new financial regulations must not harm economic [...]

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S&P 500 Emini Day Trading Gap Wednesday February 10, 2010

                                     S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2023" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Wednesday February 10, 2010"][/caption]

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Forex trading Greek support brings EURUSD up dollar weakens.

Forex day trading course watching as Overbought dollar finally makes a turn.  If we move above the 1.3880 mark we could start our journey to normal fib retracements. [caption id="attachment_404" align="alignleft" width="215" caption="forex trading system targets"][/caption] News is really driving the market, watch your self.  Resistance at 1.3830-40 area.  Could be a sharp reversal as we hit first support at 1.3775 Approaching the resistant trend line on this bearish channel.looking for a move back to the 1.3816-25 area and if it can't commit for a move up then looking for a double bottom or 76% retrace of the move up. FX markets were choppy in the Asian session, with risk appetite see-sawing. The day started with a risk off tone, as Wall Street plunged due to speculation that FOMC Chairman Bernanke could indicate tightening when he testifies in the House on unwinding Fed liquidity programs this week. The USDJPY fell to 89.20, but failed to pierce daily cloud support at 89.02. The AUDUSD opened at 0.8640 and slipped 0.8616, as China press denied the much celebrated Australia-China coal deal reported yesterday. However, as Asia went to lunch it was reported that European Central Bank President Trichet is prematurely leaving a meeting of central bankers in Sydney to attend a European Council meeting scheduled for Thursday. European Council is holding an informal meeting of officials and Greek members are expecting to come under some heavy fire. The EURUSD traded up to 1.3742 on the first news that officials are recognizing the severity of t [...]

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S&P 500 Emini Day Trading Gap Tuesday February 9, 2010

                                  S&P 500 Emini Futures Day Trading THE GAP

S&P 500 Emini Day Trading Gap Tuesday February 9, 2010

S&P Emini 500 Futures opened right at Friday's close, so, no gap today.  The index traded mostly sideways in a 12-14 point range, and closed at the bottom of the trading range at 1054.00, off 8.25 points.  The charts still look bearish on the daily charts, and today's sideways action on average volume did not dispel that perception.   It's hard to tell what bearing today's action will have on the rest of the week.  The current sideways action on lower volume suggests a possible bounce may be forthcoming.  Look for a retest of the 1100.00 level, then a drop down to support at 1020.00, the 200 ma, over the next few days.

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S&P 500 Emini Day Trading Gap Monday February 8, 2010

                                 S&P 500 Emini Futures Day Trading THE GAP

S&P 500 Emini Day Trading Gap Monday February 8, 2010

S&P Emini 500 Futures had no opening gap Friday.  The index dipped 23+ points during the day, only to rally back to close near the open.  The 1064 level was tested by the opening and the closing 5 minute candlesticks.  Traders seemed unsure of direction due to mixed employment signals in the reports issued prior to the open.  Volume was more than twice the average coming in at 3.96 million contracts.  The day closed with an uncertain directional conclusion.  On a broader time frame,  the Friday close marks the 3rd weekly close in a row that falls below the prior week's low.  That's certainly a bearish signal, especially since the January monthly close was below the prior month's low.  That's the first time that's happened since February of 2009. 

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