Automated Forex Systems
on Feb 5, 2009 in automated forex systems Foreign Exchange Forex Forex exchange rates forex guidance Forex News Forex Tips Automated Forex Systems will continue to be created and updated as needed to make sure the problems and quirks of the system are worked out making it a more finely tuned machine. The software will need some work in the future but is an asset to the t...
Understanding Forex Automation
on Jan 28, 2009 in automated forex systems Foreign Exchange Forex forex guidance Forex News Forex Tips Forex trading that has been automated lets trading continues all over the globe in real time and provides a better percentage of profits than a manual system would. The automated systems can work faster than the manual systems which are necessary in...
Automated Forex Trading
on Jan 22, 2009 in automated forex systems Foreign Exchange Forex Forex News Forex Tips guidance More and more individual traders are using the Forex Market to trade instead of the other investment options available. The Forex Market is fast becoming the largest market for trading in the entire world with increases in volumes of trade from the m...
Forex Trading
on Jan 13, 2009 in Forex Tips Forex forex brokers Forex exchange rates forex guidance Forex Scams The Forex trade is a game of gains and losses. This means that on a particular trade, one person needs to be a winner and one who is a looser to make the market stay strong. The commissions of the brokers and other fees for transactions are not inclu...
Forex Scams
on Jan 9, 2009 in Forex Tips Foreign Exchange Forex forex guidance Forex News Forex Scams Scam ideas include those programs offering software to help teach the trader how to work to make large profits each time, moving customer accounts around from one trade to the other more than necessary to make more commissions, falsely advertising ce...
Scamming Forex Traders
on Jan 7, 2009 in Forex Tips Foreign Exchange Forex Forex News guidance Forex scams are used by some to take the hard earned money from individual Forex traders by giving them a grand idea they can make higher profits in their trading efforts. The Forex currency market is one of the more popular ways that fraud is carrie...
Interest Rates
on Jan 2, 2009 in Forex News Foreign Exchange Forex Forex exchange rates forex guidance Forex Tips High interest will cause the cost of a particular currency to go up and low interest will make it come down to a more manageable rate for more individuals to purchase. The Interest rates are set by the banks the thing that affects the rate that comme...
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on Dec 30, 2008 in Forex Tips Foreign Exchange Forex Forex exchange rates forex guidance guidance Leverage is one of the perks to trading on the Forex Market. This allows the trader to take money that is a thousand times more than the amount of capital they make on a trade. Borrowing money on a trade is not the same thing as borrowing for other r...
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Share Investor's Daily Forex Updates Forex rates and commentary updated daily - Tools to help you trade currency
Posted by Forex News
Jul 28, 2009
Daily Forex Commentary: July 28 2009
| FOREX Daily Outlook by Easy-Forex.com |  |
USD under pressure from risk taking
CURRENCY TRADING SUMMARY – 28th July (00:30GMT)
U.S. Dollar Trading (USD) was sold for most of Asia and Europe before a slide in US stocks at the open gave the USD a short term reprieve. The EURO and AUD were pressuring month highs threatening to break higher. New Home Sales surged +10% in June, encouraging dip buyers to help US stocks finish in the green once again. Crude Oil ended $0.33 higher to close at $68.38. In US share markets, S&P ended +2.92 points (+0.30%) at 982, NASDAQ ended +1 points (0.1%) at 1967 and DOW JONES ended +15.27 points (+0.17%) at 9108. Looking ahead, CB Consumer Confidence forecast at 49 vs. 49.3 previously. Also released, Case Schiller for May forecast at -0.5% vs. -0.6% previously.
The Euro (EUR) was bought heavily during Asia to set up a test of 1.4300 in Europe before falling quite sharply in the US after failing at the Key level. German GFK in August climbed to 3.5 vs. 2.9 forecast and help support the pair. EUR/GBP was volatile as traders tested both sides of the 0.86-87 range. EUR/JPY tested 136. Overall the EUR/USD traded with a low of 1.4171 and a high of 1.4300 before closing at 1.4240.
The Japanese Yen (JPY) was trading in an extremely tight range in Asia even as the Nikkei gained 2% before breaking higher above 95 Yen in Europe on heavy EUR/JPY and AUD/JPY buying. Further Gains were limited by USD weakness as the two safe haven currencies competed for the weakest footing. Overall the USDJPY traded with a low of 94.67 and a high of 95.41 before closing the day around 95.20 in the New York session. Looking ahead, Japanese Retail Sales for July forecast at -2.5% vs. -2.8% previously.
The Sterling (GBP) was volatile as risk taking helped the pair above 1.6500 before finding heavy selling above this level that discourage further buying especially as the Euro fell back from 1.4300. GBP/JPY provided plenty of support but the recent stock rally was questioned in the US and the pair could fall back if stocks retreat. Overall the GBP/USD traded with a low of 1.6380 and a high of 1.6526 before closing the day at 1.6480 in the New York session. Looking ahead, July CBI distributive Trades are forecast at -12 vs. -17 previously.
The Australian Dollar (AUD) tested year highs on the back of fresh highs in the Nikkei and strong AUD/JPY support. The failure of the EURO to breach its resistance and weak US stocks helped keep the key level intact but the market bullish bias will require a distinct shift to change direction. Overall the AUD/USD traded with a low of 0.8143 and a high of 0.8262 before closing the US session at 0.8220. Looking ahead, RBA Governor Stevens speaks.
Gold (XAU) tried to break higher but suffered the same fate as the majors falling back on profit taking. Overall trading with a low of USD$947 and high of USD$959 before ending the New York session at USD$954 an ounce.
TECHNICAL COMMENTARY
| Currency | Sup 2 | Sup 1 | Spot | Res 1 | Res 2 |
| EUR/USD | 1.4056 | 1.4120 | 1.4245 | 1.4338 | 1.4719 |
| USD/JPY | 92.72 | 93.10 | 95.20 | 95.46 | 96.24 |
| GBP/USD | 1.6266 | 1.6311 | 1.6495 | 1.6586 | 1.6745 |
| AUD/USD | 0.7925 | 0.8090 | 0.8225 | 0.8263 | 0.8378 |
| XAU/USD | 918.00 | 932.00 | 953.00 | 965.00 | 990.00 |
Euro – 1.4245
Initial support at 1.4120 (Jul 23 low) followed by 1.4056 (Jul 16 low). Initial resistance is now located at 1.4338 (Jun 3 high) followed by 1.4719 (Dec 18 high)
Yen – 95.20
Initial support is located at 93.10 (Jul 22 low) followed by 92.72 (July 14 low). Initial resistance is now at 95.46 (Jul 7 high) followed by 96.24 (July 6 high).
Pound – 1.6495
Initial support at 1.6311 (July 22 low) followed by 1.6266 (Jul 13 low). Initial resistance is now at 1.6586 (Jun 23 high) followed by 1.6745 (June 30 high).
Australian Dollar – 0.8225
Initial support at 0.8090 (July 15 low) followed by the 0.7925 (July 14 low). Initial resistance is now at 0.8263 (June 3 high) followed by 0.8378 (Sept 26 high).
Gold – 953
Initial support at 932 (Jul 17 low) followed by 918 (July 14 low). Initial resistance is now at 965 (June 10 high) followed by 990 (Jun 3 high).
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c Share Investor 2009
Jul 27, 2009
Daily Forex Commentary: July 27 2009
| FOREX Daily Outlook by Easy-Forex.com | |
Market Slows Down into the Weekend
CURRENCY TRADING SUMMARY – 27th July (00:30GMT)
U.S. Dollar Trading (USD) bouts of profit taking capped a week of heavy gains for Equity markets and helped limit FX movements on Friday. UoM June Consumer Confidence was revised higher to 66 vs. 65.1 forecast. Crude Oil ended $0.89 higher to close at $68.05. In US share markets, S&P ended +2.97 points (+0.30%) at 979.26, NASDAQ ended -7.63 points (-0.39%) at 1965.96 and DOW JONES ended +23.95 points (+0.26%) at 9093. Looking ahead, New Home Sales in June forecast at 0.36M vs. 0.342M.
The Euro (EUR) tested 1.4250 once again before falling back to 1.4200 supports in a quiet end to the week. German IFO improved to 87.3 vs. 86.5 forecast and 85.9 previously in a slight improvement in Economic sentiment. July EU PMI Services slightly better than expected at 45.6 vs. 44.7 previously and PMI manufacturing at 46.0 vs. 42.6 previously. Overall the EUR/USD traded with a low of 1.4135 and a high of 1.4254 before closing at 1.4205. Looking ahead, German GFK forecast at 2.9% in August. June Import forecast at 0.5% vs. 0.0%.
The Japanese Yen (JPY) consolidated the gains seen on Friday and slipped back below 95, holding in a tight range the rest of the day. Crosses remain buoyant and continued to be bought on dips as Japanese investors searched for greater yield. Traders will be looking to US stocks for further direction expecting the two weeks of solid gains come under scrutiny this week. Overall the USDJPY traded with a low of 93.60 and a high of 95.18 before closing the day around 94.80 in the New York session.
The Sterling (GBP) fell hard after preliminary Q2 GDP came in at -0.8% vs. -0.3% forecast. Support under 1.5400 held firm and the pair managed a small rally with US stocks. EUR/GBP managed to gain as the Eurozone data propped the single currency. Overall the GBP/USD traded with a low of 1.6390 and a high of 1.6545 before closing the day at 1.6430 in the New York session. UPDATE - Hometrack: UK July House Prices 0.0% On Mo, -7.7% On Yr.
The Australian Dollar (AUD) found support in the lower 0.8100 and once again ground higher for the rest of the day with dips being bought. AUD/JPY is providing solid support as it tries to gather for a retest of year highs above 80 yen. Some forward looking market commentators are starting to suggest the RBA will be the first central bank to raise rates and this speculation should support the AUD against all crosses going forward. Overall the AUD/USD traded with a low of 0.8125 and a high of 0.8190 before closing the US session at 0.8175.
Gold (XAU) was quiet pivoting the $950 level waiting for fresh direction. Overall trading with a low of USD$948 and high of USD$954 before ending the New York session at USD$950 an ounce.
TECHNICAL COMMENTARY
| Currency | Sup 2 | Sup 1 | Spot | Res 1 | Res 2 |
| EUR/USD | 1.4056 | 1.4120 | 1.4180 | 1.4291 | 1.4338 |
| USD/JPY | 92.72 | 93.10 | 94.85 | 95.46 | 96.24 |
| GBP/USD | 1.6266 | 1.6311 | 1.6400 | 1.6586 | 1.6745 |
| AUD/USD | 0.7925 | 0.8090 | 0.8165 | 0.8237 | 0.8263 |
| XAU/USD | 918.00 | 932.00 | 949.00 | 965.00 | 990.00 |
Euro – 1.4180
Initial support at 1.4120 (Jul 23 low) followed by 1.4056 (Jul 16 low). Initial resistance is now located at 1.4291 (Jun 23 high) followed by 1.4338 (Jun 3 high)
Yen – 94.85
Initial support is located at 93.10 (Jul 22 low) followed by 92.72 (July 14 low). Initial resistance is now at 95.46 (Jul 7 high) followed by 96.24 (July 6 high).
Pound – 1.6400
Initial support at 1.6311 (July 22 low) followed by 1.6266 (Jul 13 low). Initial resistance is now at 1.6558 (Jun 20 high) followed by 1.6745 (June 30 high).
Australian Dollar – 0.8165
Initial support at 0.8090 (July 15 low) followed by the 0.7925 (July 14 low). Initial resistance is now at 0.8237 (June 11 high) followed by 0.8263 (Jun 3 high).
Gold – 949
Initial support at 932 (Jul 17 low) followed by 918 (July 14 low). Initial resistance is now at 965 (June 10 high) followed by 990 (Jun 3 high).
Forex trading involves substantial risk of loss, and may not be suitable for everyone.
Click here to visit Easy-Forex.com
Share Investor Blog
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c Share Investor 2009
Submitted by FastBrokersFX on Tue, 07/28/2009 - 10:46.
The EUR/USD retraced to the 1.41 zone as we anticipated before rebounding early Friday from our 1.4142 support on the 4-hour. Ignoring the large rally in U. S. equities, investors chose to make their decisions based on the discouraging flow of data we’ve seen from the EU over the past couple weeks. However, the bulls are back at it again after today’s EU PMI data points showed resilience in their fight towards growth (50+).
GBP/USD Sinks after Disappointing GDP Numbers
Submitted by FastBrokersFX on Tue, 07/28/2009 - 10:45.The Cable peaked above the psychological 1.65 level and our 3rd tier trend lines after BBA mortgage approvals and retail sales exceeded analyst expectations while U. S. equities surged to new 2009 highs. However, the GBP/USD has reversed quickly after Prelim GDP came in 5 basis points below expectations (-0.8% vs -.03%E).
USD/JPY Jogs between our Trend Lines While Playing with 95
Submitted by FastBrokersFX on Tue, 07/28/2009 - 10:44. Japan’s trade balance came in below analyst expectations late Wednesday, yet surging U. S. equities trumped the disappointing data point as we anticipated. A recovery in U. S. corporate performance implies greater demand for Japanese exports in the future, weakening the Yen and improving prospects of a global economic recovery.
Even though Japan’s trade balance was shy of expectations, we’re pretty encouraged by the swift recovery over the past two releases from recession lows. The data reveals export prospects are picking up as stimulus packages ultimately prop up demand for Japanese exports. Employment markets in the developed economies are improving along with consumption, bringing life back to the Japanese manufacturing sector.
Gold Sticks Above $950/oz
Submitted by FastBrokersFX on Tue, 07/28/2009 - 10:43.Gold failed to participate in the S&P’s surge yesterday, opting to sink towards our 2nd tier uptrend line on climbing volume. Thursday’s movement in gold shows us the precious metal is more positively correlated with the Dollar than U. S. equities, aiding investors in further correlative deviations between the greenback and equities.
S&P Sits Near Par After Surge
Submitted by FastBrokersFX on Tue, 07/28/2009 - 10:43.The S&P futures made the confirmation we were looking for on Thursday, propelling from our 2nd tier uptrend line well beyond the psychological 950 level. The futures are leveling off today as investors take some profits amid disappointing earnings from the likes of MSFT, AXP, and AMZN. The markets have also received some disconcerting results from WFC and MS this, week along with fast food giant MCD.
Crude Cruise Towards our 3rd Tier Uptrend Line
Submitted by FastBrokersFX on Tue, 07/28/2009 - 10:41.Crude futures had no problem participating in yesterday’s strong rally in U. S. equities. Crude finally left the psychological $65/bbl level behind on climbing volume, stepping over our 2nd tier downtrend line in the process. The futures are presently walking along our 3rd tier uptrend line as they creep back into the June trading range while setting its sights on the psychological $70/bbl level. Crude futures may have a little more gas in the tank even though the S&P futures are waning after negative earnings from AMZN, AXP, and MSFT.
USD / JPY Technical Forex Analysis for Forex Traders
Submitted by Harish Dhawan on Tue, 07/28/2009 - 10:35.The pair did make a move higher yesterday above a prior swing high, and just fell short of the 95.40.
95.40-95.50 is a major resistance area. A break above indicates a swing higher. 96.00 and 96.40 are the targets (not necessarily today).
Support is at 94.90, 94.60 and 94.30. A sustained break back below of 94.60 would indicate short-term weakness.
Forex Analysis by Dr. Sivaraman at ForexPros. com. For more details about Forex Trading and Tips for decent earnings through Forex Trading, Please check Forexpros. com
EURO USD Forex Trading Tips and Analysis for Day Traders
Submitted by Harish Dhawan on Tue, 07/28/2009 - 10:35.The range continues.
Resistance is at 1.4300 and 1.4335-1.4350. There is little resistance beyond that and rates could surge if that level is surpassed.
Support is at 1.4220, 1.4200, 1.4175, 1.4120 and 1.4100.
Support is likely to be seen by the 1.4165 level, with 1.4120 and 1.4100 likely to provide support beyond.
Forex Analysis by Dr. Sivaraman at ForexPros. com. For more details about Forex Trading and Tips for decent earnings through Forex Trading, Please check Forexpros. com
USD / JPY Technical Forex Analysis for Forex Traders
Submitted by Harish Dhawan on Mon, 07/27/2009 - 21:58.The pair traded in a very tight range on Friday, which will likely result in a pop out of that tight range today. Since the range is so narrow (95.03-94.59=43 pips approx.) it is likely we will see a move on both sides of the range. In early trading this week, action has stayed within this tight range.
A break above 95.10 is likely to target 95.50. 95.70 is the resistance beyond.
A break below 94.55 will target 94.15. Support beyond this is at 93.85.
Forex Analysis by Dr. Sivaraman at ForexPros. com. For more details about Forex Trading and Tips for decent earnings through Forex Trading, Please check Forexpros. com
EURO USD Forex Trading Tips and Analysis for Day Traders
Submitted by Harish Dhawan on Mon, 07/27/2009 - 21:50.We are still in a range which started last Monday, and we have seen two false breakouts in that time.
A push above 1.4265 will likely test the highs in the 1.4290 area. A break of 1.4300 will signify an upswing with a target of 1.4460 (not necessarily today). Some intermittent resistance is likely in the 1.4350 area.
Support is likely to be seen by the 1.4165 level, with 1.4120 and 1.4100 likely to provide support beyond.
Forex Analysis by Dr. Sivaraman at ForexPros. com. For more details about Forex Trading and Tips for decent earnings through Forex Trading, Please check Forexpros. com
S&P Futures Stare Down 2009 Highs and 950
Submitted by FastBrokersFX on Thu, 07/23/2009 - 08:59.The S&P futures are on the cusp of a large near-term breakout should they decide to topple our 2nd tier uptrend line, the psychological 950 level, and 2009 highs. However, the futures are shedding earlier gains in consolidation amid psychological hesitation. Regardless, the S&P’s correlations are taking the lead with gold and the EUR/USD busting out from our previous downtrend lines on aggressive movements to the upside. Meanwhile, the 30 Year T-Bond futures continue their slide lower from their near-term uptrend line. Hence, it appears investors are gaining more confidence in the economic recovery, willing to put more money into higher-risk investment vehicles.
EUR/USD Hits a Wall after Disappointing EZ INO Data
Submitted by FastBrokersFX on Thu, 07/23/2009 - 08:58.The EUR/USD has hit a wall and is consolidating with a downward slope after the Euro Zone’s industrial new orders data showed slight contraction while analysts were expecting a swing to growth (-0.2% vs. 1.9%). The Euro is also digesting the fact that French consumer spending came in higher than expected. However, we believe the EZ INO number is more prevalent since we’ve seen French CS flutter between growth and contraction. Hence, the EU continues to display a theme of disappointing data. Over the past week and a half investors have received discouraging data concerning EU economic sentiment, pricing, and now manufacturing. The economic data shows that although the peak of the crisis may be behind us, the economic return to growth could be a long, steep road.
GBP/USD Stabilizes Despite Disappointing CBI Data
Submitted by FastBrokersFX on Thu, 07/23/2009 - 08:58.The Cable is climbing back above our 2nd tier uptrend line despite disappointing CBI industrial new orders data. Today’s CBI data is a bit disconcerting because it counters the gradual improvement since March. In fact, today’s reading of -59 is worse than March’s -58. Present stabilization counters a pullback resulting from a bleak report from the IMF concerning the state of Britain’s budget balance amid spiraling injections of liquidity. Investors are also reacting positively to the BOE minutes released earlier showing the central bank currently has no intention of adding onto its $125 Billion QE program. Hence, the BOE could be thinking about the future by reigning in spending.
USD/JPY Balances on our 1st Tier Downtrend Line
Submitted by FastBrokersFX on Thu, 07/23/2009 - 08:57.The USD/JPY failed in its recent attempt to build positive momentum from our 1st tier uptrend line. The currency pair has since fallen back to our 1st tier downtrend line on declining volume. Though the currency pair is trading comfortably above July lows, investors are hesitant in making a larger, necessary commitment to the upside. Japan will release its trade balance late Wednesday and the data will monitored closely by investors. Analysts are expecting further improvement (0.51 trillion) from last month’s surprising 0.22 trillion surplus.
Gold Bounces Back to $950/oz
Submitted by FastBrokersFX on Thu, 07/23/2009 - 08:55. 
Gold has popped back above $950/oz to our 1st tier downtrend line as the precious metal builds a new psychological base. However, we do notice some rising action to the downside for a couple hours yesterday, so investors should monitor volume over the next couple sessions to see where interest lies.
S&P Futures Jog Around New 2009 Highs
Submitted by FastBrokersFX on Thu, 07/23/2009 - 08:55.The S&P futures have peaked through previous 2009 highs in a key technical development. Meanwhile, volume is climbing to the upside, and the futures are flirting with the idea of making a confirmation move. Today would be key timing for a confirmation, or the bulls may be discouraged with near-term downward sloping consolidation ensuing. Investors are showing moderate hesitation after Morgan Stanley and Wells Fargo cast a shadow of doubt over the impressive 2nd quarter earnings season. Additionally, Britain and the EU each released disappointing industrial new orders data.
Crude Futures Rally from Our 2nd Tier Uptrend Line
Submitted by FastBrokersFX on Thu, 07/23/2009 - 08:54.Crude futures are stepping up from our 2nd tier uptrend line on a boost of buy-side volume despite weekly inventories coming in 100k barrels heavier than analyst expectations. Regardless of missing analyst predictions, crude inventories continue to decline. As we stated in our previous analysis, crude has been neglected for the most part during the S&P’s huge rally coupled with a broad depreciation of the Dollar. Hence, investors could be making up for lost time with the S&P futures trading just below their fresh 2009 highs.
EURO USD Forex Trading Tips and Analysis for Day Traders
Submitted by Harish Dhawan on Thu, 07/23/2009 - 08:45.The pair continues to range (so far) within in a 120 pip range over the last couple of days. A breakout will eventually occur, with the bias being higher overall.
Resistance is at 1.4260 with a break to test 1.4280. A push above 1.4300 would confirm a breakout with the target being 1.4400. Intermittent resistance is at 1.4350.
Support is at 1.4200, 1.4180 and 1.4155. A break below this level is less likely than a break higher, but it could still happen. Further support is at 1.4140 and 1.4100.
Forex Analysis by Dr. Sivaraman at ForexPros. com. For more details about Forex Trading and Tips for decent earnings through Forex Trading, Please check Forexpros. com
USD / JPY Technical Forex Analysis for Forex Traders
Submitted by Harish Dhawan on Thu, 07/23/2009 - 08:45.The pair jumped in early trading, and is trying to test the 94.40 level. This is an important intra-day level.
A rise above 94.50 indicates a move to test a former swing high at94.80. A rise beyond is not highly likely today, but 95.00 is the resistance beyond.
Support is at 93.80, 93.40 and 93.20.
Forex Analysis by Dr. Sivaraman at ForexPros. com. For more details about Forex Trading and Tips for decent earnings through Forex Trading, Please check Forexpros. com
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