Forex day trading London close dollar strong

[caption id="attachment_400" align="alignleft" width="225" caption="Forex trading system"][/caption] Forex day trading system Into the NY close watching for 1.3628 support then 1.3586 for a sell off support if we move to 1.3740 on news driven data.  PIIGS are getting hit.  London is closing soon so Euro might stop slide on volume drop off. Yesterday's trading took a dramatic turn late in the European session as the weight of sovereign debt concerns (primarily the possibility that Portugal may pose a greater threat to Eurozone stability than Greece) coupled with higher than expected US claims data knocking the prospects for today's non-farm payrolls led to a spectacular bout of risk aversion and positions unwinds. Initial claims came in at 480k (vs. 460k expected) and there were slight upward revisions to last week's data (from 470k to 472k). Continuing claims were also higher (at 4602k vs. 4580k expected) which has negated the positive sentiment from Wednesday's better that expected ADP employment report. Not long after the release of the US claims figures, EURJPY was steadily trading around 125.70 levels, but as the momentum of negative sentiment gained (stocks lower, yields on European debt jumping) the pair tumbled to breach 125.00 support and quickly plunged through 124.40 interim support before an outright collapse to 121.58 – a level not seen since Feb 2009. In unison, EURUSD was dragged down through the critical 1.3750 support level, a development which now opens up a look at 1.3450 below. The moves were echoed by commodity markets as oil witnessed its b [...]

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S&P 500 Emini Day Trading Gap Friday February 5, 2010

                     S&P 500 Emini Futures Day Trading THE GAP

S&P 500 Emini Day Trading Gap Friday February 5, 2010

S&P Emini 500 Futures opened down 8.50 points, and kept on going down all day.  The futures dropped 3.5% over the course of the day to close at 1060.00.  That's down 33.50 points on nearly twice the average volume.  3.3 million contracts traded hands today while the trading range was above average at 25.75 points.  Depending on the non farm payroll numbers tomorrow pre market, such a huge one day drop usually results in a next day bounce in the index.  Disappointing numbers in the report could send futures lower.  Support on such a drop should be expected at the 1020 level, which represents the 200 day moving average.  Volatility in the pre market will provide a clue as to what to expect for the day.  No matter which way prices go tomorrow, the Non Farm payroll seldom disappoints in providing huge volatility.  It should be interesting.

S&P 500 day trading course

S&P 500 Emini Day Trading Gap Thursday February 4, 2010

                            S&P 500 Emini Futures Day Trading THE GAP

S&P 500 Emini Day Trading Gap Thursday February 4, 2010

S&P Emini 500 Futures gapped down at the open 5 points this morning.  Wednesday is a higher probability day to fade the gap, and today would have paid off.  The gap filled in the first 20 minutes of trading, then the index settled back into a fairly narrow sideways trading range for the rest of day.  Overnight, the index tested and pierced the 1100, same as it did during the cash market yesterday.  Trading hours range was relatively narrow at 9 points.  Recent volatility has increased the 14 day average true range to a little over 20 points.  The late December early January trading range was as low as 10 points, so volatility is returning to the market place.  The next two days will have significant employment news reports.  Friday's always volatile Non-Farm payroll report will lead the pre market pace that day.  1100 is still the current key resistance level.  Breaking that level on volume could spur resumption of the short term up trend.  Bad employment news could send the market back into a down trend.  Watch support at the recent low of 1066.50.

S&P 500 day trading course

Forex day trading course news release calender

Forex day trading course news release calender

Thursday and Friday could hold some surprises for the market place.

Low volume this week.

Thursday, 4 February 2010 all times GMT   (last release in parentheses) 0030   Australia        December retail sales (1.40% m/m) 0030   Australia        December building approvals (5.9% m/m) 0030   Australia        December building approvals (33.3% y/y) 0030   Australia        Reserve Bank of Australia quarterly monetary policy statement 0045   Eurozone      European Central Bank interest rate decision 0130   Japan             Bank of Japan Policy Board member Nakamura speaks 0715   CH                  December trade balance (CHF 2.14 billion) 1100   Germany        December factory orders (0.2% m/m) 1100   Germany        December factory orders (1.8% y/y) 1200   UK                  Bank of England interest rate decision 1200   UK                  Bank of England asset purchase target 1330   Canada                      December  building permits (-4.6% m/m) 1330   US                  Q4 non-farm productivity (8.1%) 1330   US                  Q4 unit labour costs (-2.5%) 1330   US                  Weekly initial jobless claims 1330   US                  Continuing  jobless claims 1500   US                  December factory orders (1.10%) 1500   Canada                      January Ivey purchasing managers index (49.4) 2230   Australia        January performance of construction index (49.3) Friday, 5 February 2010 all times GMT (last release in parentheses) N/A     UK                  January Halifax house [...]

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Forex trading Dollar strengthens EURUSD live trading room

Forex trading EURUSD strengthens, could revisit 1.3900 if we the move is committed, we could see a move to the 1.3850 area for a double bottom. [caption id="attachment_393" align="alignleft" width="298" caption="Forex day trading course EURUSD "][/caption] FX markets were choppy in the Asian session but little changed, as traders await a slew of economic data and events.The NZD/USD was range-bound between 0.710-35 range for the early part of the session, before risk was sold off as concerns over Chinese banks and worries over European Commission assessment of Greece's deficit-cutting plan spread. Markets become temporarily risk averse, as news that Fitch Rating warned that banks in China faced the greatest "bubble risk" of any Asian country. "The agency views 'bubble risk' as greatest for Chinese banks given their 32 percent loan growth in 2009; this looks likely to be followed by a further 20 percent in 2010," Fitch said in a statement. The USDJPY had climbed to 90.58, but fell swiftly to 90.30. A day after the RBA shock the market by holding rates at 3.75%, Australian trade deficit widened to A$2.25bn vs. -A$2.5bn exp in December from A$1.7bn in November, illustrating a strong recovery in both imports and exports. We still believe the RBA will hike in March and AUD should be well supported near term. The highlight of the day should be the EC assessment of Greece's deficit-cutting plan, and then European Union Economy and Monetary Affairs Commissioner Joaquin Almunia will hold a press conference. We doubt that EC officials will want to fan any fe [...]

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S&P 500 Emini Day Trading Gap Wednesday February 3, 2010

                              S&P 500 Emini Futures Day Trading THE GAP

S&P 500 Emini Day Trading Gap Wednesday February 3, 2010

S&P Emini 500 Futures opened Tuesday with a small gap up that quickly filled.  The index trended to the upside all day long and finished with a test and pierce of the 1100.00 level.  Resistance held at that point in the half hour of trading, with a close at 1099.00.  Today marks the second up day in a row, and it came on above average volume.  Volume for the last two days has been good, but not as convincing as the down volume seen in the prior down days.  Important news events this week, including the non farm payroll numbers on Friday, will most certainly influence market direction.  Non farm payroll always seems to provide volatility to the markets.  Look for a correction away from the 1100.00 level tomorrow to the downside.  If the index breaks and holds above that level on good volume, the down trend may break.

S&P 500 day trading course

Forex trading- EURUSD strengthens

[caption id="attachment_389" align="alignleft" width="225" caption="Forex trading EURUSD Euro strengthening"][/caption] € The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3935 level and was supported around the $1.3850 level.  The common currency followed U.S. equities markets higher as increased risk demand jumped on speculation the global economic recovery will continue.  Dealers also lifted the common currency as it was reported that EMU-16 PMI improved to 52.4 in January from 51.6 in December, following Germany's lead with its PMI improvement to 53.7.  A draft copy of the upcoming Group of Seven communiqué reports "Market volatility, in particular in the foreign exchange market, could destabilize the nascent global recovery by placing growth on an unbalanced path and trigger unwelcome protectionist reactions."  G7 finance ministers will convene in northern Canada in early February and two hot topics are expected to be exit strategies from the provision of global stimulus and China's currency.  ECB President Trichet this weekend said policymakers "will do whatever is necessary to give all our citizens…price stability."  Trichet also noted U.S. policymakers have reassured him that they favour a strong U.S. dollar.  In U.S. news, President Obama released details of his latest US$ 3.8 trillion budget today and it calls for a broad US$ 1.9 trillion tax increase by returning to pre-2001 ordinary income tax rate [...]

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