Forex trading system news into the weekend.

Thursday, 25 February 2010 all times GMT (last release in parentheses) 0030   Australia        Q4 private capital expenditure (-3.9%) 0030   Australia        Q4 construction work done (2.2%) 0200   NZ                   January M3 money supply (-1.1% y/y) 0200   NZ                   February NBNZ business confidence (38.5) 0745   France                       February consumer confidence indicator (-29) 0745   France                       January producer prices (0.2% m/m) 0745   France                       January producer prices (-2.9% y/y) 0815   CH                  Q4 employment level (3.963 million) 0815   CH                  Q4 employment level (0.2% y/y) 0830   Italy                 February business confidence (83.2) 0855   Germany        February unemployment, net change (6,000) 0855   Germany        February unemployment rate (8.2%) 0900   Eurozone      January M3 money supply (-0.2% y/y) 0930   UK                  Q4 total business investment (-0.6% q/q) 0930   UK                  Q4 total business investment (-19.9% y/y) 1000   Eurozone      February business climate indicator (-1.12) 1000   Eurozone      February industrial confidence (-14) 1000   Eurozone      February consumer confidence (-17) 1000   Eurozone      February economic confidence (95.7) 1000   Eurozone      February services confidence (-1) 1100   UK                  February CBI distributive trades (-8) 1330   US                  January durable goods orders (0.3%) 1330   US                  January durables, ex-transportation (1.4%) 1330   US                 [...]

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Forex trading Lodon re cap

€ The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3545 level and was supported around the $1.3440 level. The Federal Reserve raised the discount rate yesterday by 50bps to 0.75%, citing "continued improvements in financial market conditions" and said this move represents a "a further normalization of the Federal Reserve's lending facilities."  The Fed also announced that the maximum maturity for primary credit loans will be shortened to overnight effective 18 March and added its Term Auction Facility (TAF) program will end on 8 March 2010.  The Fed clearly wanted to show that the economy is improving without disrupting the financial markets too much. Many Fed-watchers see the move as largely symbolic, especially given the fact that there is only around US$ 14.7 billion outstanding at the Fed's discount window.  Federal Reserve Bank of New York President Dudley today said "Think of this as the last adjustment tied to the end of all the liquidity facilities.  Think of this as the last piece of that package, rather than the first piece of the new package." Speaking about the economy, Dudley added "Monetary policy is about the economy.  We need to see solid growth and job creation.  Today we got an inflation report that showed there's no inflation pressure.  So our focus needs to be on growth and jobs." Data released in the U.S. today saw the January headline consumer price index climb 0.2% m/m and 2.6% y/y while the ex-food and energy CPI rate was off 0.1% m/m and up 1.6% y/y.  These data were a contrast with yesterday's producer price inflation data that came in stronger-than-expected and today's CPI data suggest that retailers are finding it difficult to pass on price increases to consumers.  Other data released today saw Q4 mortgage delinquencies decline to 9.47% from the prior reading of 9.64%.  Some economits believe the Fed ma [...]

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S&P 500 Emini Day Trading Gap Wednesday February 24, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2060" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Wednesday February 24, 2010"][/caption] S&P Emini 500 Futures had a 3 point gap down at the open, then filled within the next 25 minutes leading into the 10 a.m. report. Traders reacted with shock and dismay at the consumer confidence report. A sell off ensued that pierced and found support at the 50 day moving average. The selling paused briefly at the 1100 level, then continued to the day's low of 1090.25. After the cash market close, a rally off of the bottom moved prices back towards the 1100.00. There is often a bounce up after this type of news driven sell off. Volume was above average today, so the move down had conviction. Tomorrow's news may bring yet another direction for the Emini futures. Expect a retest of the 1100 price resistance at the very least tomorrow.

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S&P 500 Emini Day Trading Gap Tuesday February 23, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2057" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Tuesday February 23, 2010"][/caption] S&P Emini 500 Futures began the last week of February with a 4 point gap up. The high of the day, 1111.00, was hit in the first 5 minute candlestick. The index filled the gap in the next 10 minutes, then spent the remainder of the day in a tight trading range. Today's 7.5 point range mirrored the last portion of Friday's range. Today's 1106.75 matched the Friday close on the number. Today's narrow range and doji formation was on fairly anemic volume, and indicates a market in decision. Hopefully, the high impact news slated for tomorrow, the consumer confidence report at 10:00, will infuse some volatility into the market. Look for a dip to the technical support of 1092, or at least to the psychological level of 1100. A break below 1092 on volume may lead to a test of the 200 ma at about the 1030 level.

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S&P 500 Emini Day Trading Gap Monday February 22, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2053" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Monday February 22, 2010"][/caption]

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S&P 500 Emini Day Trading Gap Friday February 19, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2049" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Friday February 19, 2010"][/caption]

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S&P 500 Day Trading Course Gap for Feb 18, 2010 Support and Resistance

With volume down even further Wednesday prices traded a very consolidated day.  Prices opened at 1098.00 after a move up in the after hours trading, then traded a 6.75 point range for the day closing at 1097.75.  This decreasing volume could give us the indication that price may be getting ready to turn back to the down side in the near future, as low volume moves up tend to set us up for high volume moves down as the lack of commitment cannot keep prices moving.  With continued low volume we could see prices consolidate further,  with no aggressive buyers or sellers there won't be much action.  However there are some news item up this week that may help to give this market some direction.  Take note that we do have 3 open gaps to the downside to fill. I hope sooner than later.  Be ready to run.  See you at the starting line!

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