The USD and JPY rose against higher-yielding currencies with USDJPY trading at 90.14 as political tension on the Korean peninsula boosted demand for safer assets. The USDKRW advanced 1.3% to 1,210.65 from 1,194.40 on May 20, after earlier reaching 1,220.75, the strongest since Sept. 15 to an eight-month high after South Korea said it will halt trade with the North and seek UNSC action over the sinking of a warship in March. Yuan forwards gained on speculation Chinese officials will indicate their intention to allow the currency to strengthen during talks with US in the coming two days. Geithner who is in China for the two-day Strategic and Economic Dialogue will say that Europe's crisis should have only a small effect on the broader global recovery and later meet with EU officials and reinforce his call for coordinated efforts to fight off the crisis and rein in government spending. The USD will probably become a "growth currency" during the next decade, shedding its haven status of the past decade, as the US economy outperforms Europe and Japan according to UBS. The likelihood that the USD performs strongly when investors are risk-seeking will signify a major change in the currency markets. The AUDUSD fell 1.4% to 0.8206 from 0.8318 last week, when it completed a 6.1% drop after touching 0.8073 on Friday, the least since July 2009 and AUDJPY slid 1.6% to 73.75 and NZDUSD weakened 1.1% to 0.6709 and NZDJPY was at 60.29 for the sixth time in seven days on concern Europe's debt crisis will spread. The AUDUSD extended last week's biggest weekly decline since October 2008 as slumping Asian equities spurred investors to dump higher-yielding assets. The currency also fell after Rio Tinto said the proposed mining profit tax acted as a "wet blanket" on its investment plans in the nation. The AUD fell as Rio said it will be shifting resources away from Australia after the government proposed a resources "super profits" tax. Traders cut bets for a fifth [...]
Forex trading - live day trading course and currency trade room.
Monday, May 24, 2010
Sunday, May 23, 2010
Twitter Weekly Updates for 2010-05-23
- $eurusd $fx #currency managed funds Twitter Weekly Updates for 2010-05-16 #
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- S&P500 day trading course: S&P500 day trading course live trading room. As volume increases look for a turn in di... http://bit.ly/dfGj7I #
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Forex trading - live day trading course and currency trade room.
Forex trading course London pre open.
€ The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.2365 level and was supported around the $1.2140 level. One catalyst for the move higher was a rumour – later denied by the Greek government – that Greece was considering leaving the European Union and the eurozone. Even though Greece only accounts for 2% to 3% of economic output in the European Union, its bailout package represents a considerably higher and disproportionate share of the total financial assistance package that has been announced by the European Union and the International Monetary Fund. Most traders believe the expulsion or removal of a eurozone country would precipitate a run on the euro as confidence and sentiment would be badly damaged. Many dealers are struggling to reconcile why the euro moved higher in the face of the Greek rumour but technicians note that the common currency is significantly oversold and with sentiment so poor, the slightest positive news or data can engender a move higher by the common currency. Another reason being cited for the euro's rise is a market rumour that the European Central Bank may intervene and purchase euro whereas some traders are indicating Swiss National Bank sold francs for euro today. Also, the common currency gained ground on a plea from ECB member and Bundesbank President Weber that Germany's parliament approve Germany's contribution to the European Union rescue fund. ECB member Bini-Smaghi said EMU-16 inflation expectations remain well-anchored and added the ECB will "not bail out states." IMF official Lipsky reported the euro is "near equilibrium" and its level is not a problem. Data released in the eurozone today saw EMU-16 March construction output up 7.6% m/m and off 5.2% y/y. In U.S. news, U.S. Treasury Secretary Geithner was on the tape yesterday and reported the U.S.'s economic recovery is " [...]
Forex trading - live day trading course and currency trade room.
Forex trading - live day trading course and currency trade room.
Thursday, May 20, 2010
S&P500 day trading course pre market
S&P500 day trading course pre market areas of support and resistance. [caption id="attachment_2293" align="alignleft" width="211" caption="S&P500 day trading course 15 min chart"]
[/caption] After hours drifting up as Euro is getting pushed up more and more. Love that Bernanke see the possibility of US economy slowing because of the Euro. Point of control 1072.25 for direction. 1061.25 the previous swing low is our first intraday support for tomorrow. Look for a test to 1047.25 if we break this low. We have resistance at 1089.25 with some consolidation occurring around 1078.25-to 1079. Extreme high of 1118. Don't see how it will rally that far unless there is a low volume close. 1097 area we are hitting our 200MA so expecting to see resistance there too.
S&P 500 day trading course
[/caption] After hours drifting up as Euro is getting pushed up more and more. Love that Bernanke see the possibility of US economy slowing because of the Euro. Point of control 1072.25 for direction. 1061.25 the previous swing low is our first intraday support for tomorrow. Look for a test to 1047.25 if we break this low. We have resistance at 1089.25 with some consolidation occurring around 1078.25-to 1079. Extreme high of 1118. Don't see how it will rally that far unless there is a low volume close. 1097 area we are hitting our 200MA so expecting to see resistance there too. S&P 500 day trading course
Wednesday, May 19, 2010
Forex day trading SCB steps in
Forex day trading looking what happens when the Swiss Central Bank steps in to prop up the EURO. EURCHF 4 hour chart running into support and runs to resistance, nice .03 move. [caption id="attachment_870" align="alignleft" width="300" caption="Euro gets a swiss boost."]
[/caption] Euro gets a swiss boot to the bank.
Forex trading - live day trading course and currency trade room.
[/caption] Euro gets a swiss boot to the bank. Forex trading - live day trading course and currency trade room.
S&P500 day trading course daily chart
S&P500 day trading course daily chart for May 19 2010 with support and resistance. [caption id="attachment_2287" align="alignleft" width="220" caption="S&P500 day trading course daily chart"]
[/caption] Our daily downside target is 1093.25 Point of control for today is 1112.50 and the Bears are in control at this point. 1089 is nextsupport and the n 1078.75 Watch for continued selling in this market and more of a break out this afternoon. If we consolidate on the lower ranges, we could get another low volume rally into the close. Europe is still effecting our market heavily. Trade what you see and remember trend is your friend.
S&P 500 day trading course
[/caption] Our daily downside target is 1093.25 Point of control for today is 1112.50 and the Bears are in control at this point. 1089 is nextsupport and the n 1078.75 Watch for continued selling in this market and more of a break out this afternoon. If we consolidate on the lower ranges, we could get another low volume rally into the close. Europe is still effecting our market heavily. Trade what you see and remember trend is your friend. S&P 500 day trading course
Tuesday, May 18, 2010
S&P500 day trading course
S&P500 day trading course live trading room. As volume increases look for a turn in direction. Volume increases and market goes down. Volume decreases and market moves up. [caption id="attachment_2282" align="alignleft" width="285" caption="S&P500 day trading course 15 min"]
[/caption] POC 1140.25 for direction. 1147.25 for first resistance, 1154.25 is next level of resistance. Support on the 200MA, 1133.25 and 1st level support at 1129.75 then 1119.25. We have two open gaps on both sides of the markets range. 1156.25 and 1109.75. I would look for this to test to the 1155.25 area and the closing of the upper gap. If this occurs today at closing I would look for a move down in after hours, consolidation through the week and the next move down by Friday. If we return to 1175 area, I would look for consolidation. Unless of course if we have more upheaval in the euro zone. Iran is also coming to the forefront and with Obama's impotence in this area it leaves only military action available to Israel. This could be dangerous for the markets and the world. If the UN sanctions are weak, I am looking for the markets to consolidate.
S&P 500 day trading course
[/caption] POC 1140.25 for direction. 1147.25 for first resistance, 1154.25 is next level of resistance. Support on the 200MA, 1133.25 and 1st level support at 1129.75 then 1119.25. We have two open gaps on both sides of the markets range. 1156.25 and 1109.75. I would look for this to test to the 1155.25 area and the closing of the upper gap. If this occurs today at closing I would look for a move down in after hours, consolidation through the week and the next move down by Friday. If we return to 1175 area, I would look for consolidation. Unless of course if we have more upheaval in the euro zone. Iran is also coming to the forefront and with Obama's impotence in this area it leaves only military action available to Israel. This could be dangerous for the markets and the world. If the UN sanctions are weak, I am looking for the markets to consolidate. S&P 500 day trading course
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