The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3245 level and was supported around the $1.3140 level. As expected, the Federal Open Market Committee decided to keep interest rates unchanged. The FOMC reported "Information received since the Federal Open Market Committee met in March suggests that economic activity has continued to strengthen and that the labor market is beginning to improve. Growth in household spending has picked up recently but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit. Business spending on equipment and software has risen significantly; however, investment in nonresidential structures is declining and employers remain reluctant to add to payrolls. Housing starts have edged up but remain at a depressed level. While bank lending continues to contract, financial market conditions remain supportive of economic growth. Although the pace of economic recovery is likely to be moderate for a time, the Committee anticipates a gradual return to higher levels of resource utilization in a context of price stability. With substantial resource slack continuing to restrain cost pressures and longer-term inflation expectations stable, inflation is likely to be subdued for some time. The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels of the federal funds rate for an extended period. The Committee will continue to monitor the economic outlook and financial developments and will employ its policy tools as necessary to promote economic recovery and price stability. In light of improved functioning of financial markets, the Federal Reserve has closed all but one of the spec [...]
Forex trading - live day trading course and currency trade room.
Thursday, April 29, 2010
Wednesday, April 28, 2010
Forex managed trading monthly support line
Forex day trading, Spain is down graded. Greece needs more and more, 120 billion euro package to flow there at the end of next month. [caption id="attachment_839" align="alignleft" width="263" caption="Forex managed funds monthly eurusd"]
[/caption] 8 year trend line tested at 1.3102 with a further supporting TL at 1.2745 on the EURUSD monthly chart. 1.40 falls into a 50% retracement here but with all the EU countries asking for money there is no end in site. 1.21 by summer and Par by the year on the USD. All asset classes came under heavy selling pressure after the S&P rating agency downgraded both Greece and Portugal's sovereign debt yesterday. In the wake of the downgrade: Greek 2-year debt skyrocketed to 22.00%, 1 year credit-default swaps stand at 1290, the EURUSD fell through the 1.3200 level for the 1st time since April '09 as equity markets sold off globally. Overall, we remain bearish on the EURUSD. The EU/IMF rescue package may provide some temporary reprieve for the EURUSD, but there are still considerable financial obstacles before the Eurozone is in the clear. On the US side, we do not expect any significant shift in language nor policy from the FOMC today and maintain that asset sales are a distant prospect.
[/caption] 8 year trend line tested at 1.3102 with a further supporting TL at 1.2745 on the EURUSD monthly chart. 1.40 falls into a 50% retracement here but with all the EU countries asking for money there is no end in site. 1.21 by summer and Par by the year on the USD. All asset classes came under heavy selling pressure after the S&P rating agency downgraded both Greece and Portugal's sovereign debt yesterday. In the wake of the downgrade: Greek 2-year debt skyrocketed to 22.00%, 1 year credit-default swaps stand at 1290, the EURUSD fell through the 1.3200 level for the 1st time since April '09 as equity markets sold off globally. Overall, we remain bearish on the EURUSD. The EU/IMF rescue package may provide some temporary reprieve for the EURUSD, but there are still considerable financial obstacles before the Eurozone is in the clear. On the US side, we do not expect any significant shift in language nor policy from the FOMC today and maintain that asset sales are a distant prospect. | 08:30 | [...] Forex trading - live day trading course and currency trade room. Tuesday, April 27, 2010Forex day trading system eurusd new lows
Forex day trading new lows on for the EURUSD EURJPY weakened 0.2% to 125.51 as the JPY rose against all of its major counterparts and Asian stocks declined as concern about Greece's bailout plan and the effect of tightening measures in China drove investors away from higher-yielding assets and after reports that BOJ may upgrade its 2011 CPI forecast on April 30. Investor sentiment turned bearish after German Chancellor Angela Merkel said she won't release funds for Greece until the nation has a "sustainable" plan to reduce its deficit. The USDJPY traded near its strongest level in almost three weeks to 93.81, the most since April 6 on speculation the Fed is moving closer to withdrawing stimulus as the US economic recovery gathers momentum. After the market closed, US Senate Republicans blocked Democrats from advancing their plan to overhaul Wall Street regulation, saying they want to force changes before beginning full debate. The NZDJPY fell to 67.53 after trading 68.31, the highest since Jan. 14 and AUDJPY fell to 86.76 after touching 87.77 yesterday, the strongest since Sept. 29, 2008 on concerns the EU aid package for Greece won't keep the deficit crisis from spreading, damping demand for higher-yielding currencies. The AUDJPY also retreated from an 18 month high as Asian stocks dropped. The NZDUSD dropped to 0.7201 after it reached 0.7256, the most since Jan. 20 while AUDUSD traded 0.9251 after German Chancellor Angela Merkel yesterday said she won't release Greek rescue funds until the country shows it's got a "sustainable, credible" plan to cut its budget deficit. Australia's producer prices index gained 1% in Q1 (prev. -0.4%) as cost of petroleum refining advanced 8.1%, building construction prices gained 0.6% while utilities rose 3.3%. The EURUSD may weaken to less than 1.3000 this year should the Fed start raising interest rates before the ECB, according to market estimates. If the Fed does hike before the ECB, BOJ and BOE, th [...]
Forex trading - live day trading course and currency trade room. Monday, April 26, 2010Forex day trading room
Forex day trading room, The JPY fell against higher- yielding currencies as signs that a worldwide economic recovery is gaining momentum boosted demand for riskier assets and after a report showed UK house prices rose for a ninth straight month and before data forecast to show the US housing market is stabilizing. The EURJPY increased to 126.11 while AUDJPY increased to 87.61, the highest since September 2008. The USDJPY advanced to its strongest in almost three weeks to 94.31 on speculation the Fed will move closer to withdrawing stimulus measures at its April 27-28 meeting amid signs the US economic recovery is intact. Fed policy makers this week will try to decide how and when to sell mortgage-backed securities and reduce its balance sheet. The US economy probably expanded 3.4% in Q1. The S&P/Case-Shiller home-price index in the US probably increased 1.3%, the first increase since December 2006 according to data to be released tomorrow. In other Asian news, a Bank of Korea report tomorrow will show the economy expanded 7.5% from a year earlier in Q1, the most since 2002 while exports probably increased 32% in April according to a report due on May 1. South Korea's won strengthened to a 19-month high as global funds pumped more money into the nation's shares to profit from accelerating economic growth. USDKRW declined 0.5% to 1,103.63, the weakest since September 2008. The EURUSD fell to 1.3371 and EURJPY was at 125.65 on concern Greece's request for a $60 billion bailout led by the EU will fail to ease investor concerns about the nation's ability to end its fiscal crisis. The currency also slid as investors demand Greece pay almost triple what they charge Germany for its 10-year bonds. Greek Finance Minister George Papaconstantinou told investors they will "lose their shirts" if they bet the cash-strapped nation will default, as his government moved toward securing emergency aid before debt payments come due in mid-May also adding that mone [...]
Forex trading - live day trading course and currency trade room. Sunday, April 25, 2010Twitter Weekly Updates for 2010-04-25
Thursday, April 22, 2010S&P500 day trading course double top
S&P500 day trading course double top [caption id="attachment_2205" align="alignleft" width="258" caption="S&P 500 day trading course april 22 30 min"]
 [/caption] Looks like we have a double top on the daily with a test down. open gap at 1202.50 Point of control for direction 1197.50 with major support on the 1194.25 for direction on the day. next support at 1188.25 and extreme low at 1179.25 Join us for a course in May. S&P500 day trading course. S&P 500 day trading course Tuesday, April 20, 2010S&P500 day trading course 60 min chart
S&P500 day trading course 60 min chart open gap 1203.25 [caption id="attachment_2202" align="alignleft" width="262" caption="S&P500 day trading course 60 min chart"]
 [/caption] POC point of control for Direction 1206.25 Extreme high is 1219.25 Watch for the retest of 1210.50 and if it breaks through resistance a move to 1219.25 If price fails to move through 1217 area and sells off then looking for a close of the Gap. April 22 pre market news will probably give us some volatility. Don't know if it will carry through to the market session. We are going to have another group of courses this summer in Calgary, Toronto and Los Angeles, Ca. S&P 500 day trading course
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