Text Size

Tag: technical news

2010.09.01 14:53:56
ForexYard

After the U.S. dollar corrected some of its gains yesterday, a new trading day, packed with significant ?economic publications is ahead. Most attention should be given to the U.S. ADP Non-Farm Employment ?Change, which attempts to estimate Friday's release of Non-Farm Payrolls. Current expectations are for a ?positive result, will the dollar erase yesterday's losses??

Summary

USD - Dollar Weakens Despite Positive Consumer Confidence Report

EUR - Euro Strengthens On Positive Global Data

JPY - Yen Continues To Strengthen Vs. The Majors

OIL - Crude Oil Drops To $71.52 a Barrel

  forex daily market | forex trend | forex analysis | forex news | daily forex analysis | technical news | technical analysis | USD | non farm | us | adp | employment | change | payrolls | Friday | release | expectations | positive | results
Comments 0Hits: 22  

2010.08.31 09:08:44
ForexYard

The Japanese yen made another bullish move against the majors as the steps taken by the Bank of Japan to weaken the yen only served to increase traders' resolve to increase bullish bets on the Japanese currency.

Summary

USD - Dollar Stronger Following Lower Equities

EUR - Euro Weaker on Light Volume

JPY - Yen Continues to Strengthen Despite BOJ Easing

OIL - Crude Oil Snaps 3-day Win Streak

  forex daily market | forex trend | forex analysis | forex news | daily forex analysis | technical news | technical analysis | USD | yen | bullish | bank of japan | bets | currency
Comments 0Hits: 19  

2010.08.27 09:12:24
ForexYard

The US Prelim GDP, to be released at 12:30 GMT, is the primary publication today that is set to determine the level of the US dollar. The other main release that are is to dominate forex trading, especially for currencies, is the publication of the British Revised GDP at 8:30 GMT. Traders are also advised to follow Fed Chairman Bernanke's speech at 14:00 GMT. This speech is very likely carry a higher than usual impact on Dollar volatility.

Summary

USD - Dollar Falls on Increased Risk Appetite

EUR - EUR Rises on Gains in European Shares

JPY - Safe-Haven Yen Climbs vs. Rivals

Crude Oil - Crude Oil Rises above $73 a Barrel

Forex Market Trends

EUR/USD

GBP/USD

USD/JPY

USD/CHF

AUD/USD

EUR/GBP

Daily Trend

same

down

down

down

same

up

Weekly Trend

same

same

down

down

down

same

Resistance

1.2820

1.5635

85.55

1.0340

0.8965

0.8300

1.2785

1.5595

85.20

1.0300

0.8930

0.8265

1.2740

1.5560

84.85

1.0270

0.8900

0.8225

Support

1.2690

1.5500

84.20

1.0200

0.8825

0.8150

1.2640

1.5470

83.95

1.0170

0.8790

0.8120

1.2600

1.5420

83.50

1.0135

0.8750

0.8085

Economic News

USD

The US dollar fell against most of its major currencies on Thursday, as gains in stocks and commodities prompted investors to wade into riskier currency trades. By yesterday's close, the USD fell against the CHF, pushing the oft-traded currency pair to 1.0240. The dollar experienced similar behavior against the EUR and closed at 1.2720.

In addition, a slide in new US home sales and weak durable goods orders highlighted weakness in the US economy, but analysts said that such data has failed to stoke safe-haven demand for the dollar, as it did earlier in the month.

Another leading indicator released yesterday was US unemployment claims. This number handedly beat last week's results but failed to provide strength to the dollar as investors may be waiting for key data due to be released today to implement their trading strategies.

Looking ahead to today, the most important economic indicator scheduled to be released from the US is the Prelim GDP at 12:30 GMT. Traders will be paying close attention to today's announcement as a stronger than expected result may boost the USD in the short-term. Traders are also advised to follow Fed Chairman Bernanke's speech at 14:00 GMT. This speech is very likely to impact dollar volatility. Traders are advised to watch closely, as this is likely to set the pace of the dollar going into next week's trading.

EUR

The EUR rose on Thursday as early gains in European shares, following a climb on Wall Street, indicated improving demand for riskier assets. As a result, the EUR hit a session high against the dollar at around 1.2745 before pulling back to around $1.2720. The 16-nation single currency experienced similar behavior against the GBP and closed at 0.8190.

European shares rose 0.8%, clawing back from a five-week low on forecast-beating results, although gains were capped after US data on Thursday raised concerns the world's biggest economy risks sliding back into recession. That shift, just getting underway, could take the shine off the soaring EUR in the coming months.

Sentiment in the euro zone's regional economy has brightened in the past week following better-than-expected news. The EUR is showing signs of resilience even though there was volatility throughout non-euro crosses. It will be crucial for traders to identify how the preceding economic indicators from the US, European and Japanese economies will affect their positions.

JPY

The Japanese yen has strengthened against most of its major counterparts, continuing to prove that for the time being this is the solid currency that traders can rely on to provide them with steady profits. The yen extended gains versus the dollar on Thursday, to trade above 84.40 amid a broad sell-off in the USD. The JPY also saw bullishness against the EUR and closed at 107.30.

Investors worry about the rise in the JPY as it makes Japanese products less competitive abroad and hurts the value of overseas sales when translated back into the Japanese currency. With steady gains, primarily against the dollar, much of the yen's bullish movement could be contributed to the repatriation of overseas earnings by Japanese companies into the local economy. This has had a positive effect on major JPY currency pairings, as the rising turmoil in the market is leading to more investment in the Japanese currency.

Crude Oil

Oil prices extended gains to rise above $73 a barrel Thursday, as regional stock markets advanced and recent sharp losses in crude drew more buyers. Crude has fallen about 11.5% from around $82 a barrel early this month as more evidence of a slowing US economy suggested that demand for oil and gas would remain sluggish.

In addition, a weaker US dollar tends to boost the price of dollar-priced commodities as it lowers the price to holders of other currencies and reduces the value of the oil producers receive.

Technical News

EUR/USD

This pair appears to be providing mixed signals today. The shorter time frames are floating in neutral territory, giving no clear indication. The daily chart shows the price just exiting the over-sold territory on the RSI and Stochastic, while the weekly chart has what appears to be a recent bearish cross on the Stochastic (slow) and is now descending lower. Waiting for a clearer sign of direction may be wise today.

GBP/USD

The price of this pair has recently entered the over-sold territory on the hourly RSI, and seems to be just exiting the over-sold territory on the daily RSI. These notions, combined with a recent bullish cross on the hourly Stochastic (slow), seem to suggest that going long would be a reasonable tactic today.

USD/JPY

This pair continues to float within a distinct, long-term bearish channel. The weekly chart has begun to provide hints that the pair may correct upwards in the near future, however. The weekly RSI has the price sitting just on the border of the over-sold territory. The weekly Stochastic (slow) shows the same thing. This pair may be preparing for an upward movement, but for now the down-trend remains dominant.

USD/CHF

The price on the USD/CHF has recently entered the over-sold region of the daily chart's RSI and may experience upward pressure in the near future as a result. This pair's weekly chart also has the pair in the over-sold territory, and shows fresh bullish crosses on the Stochastic (slow), both of which support the notion of an impending upward movement. Going long may not be a bad choice today.


  forex daily market | forex trend | forex analysis | forex news | daily forex analysis | technical news | technical analysis | USD | Bernanke | speech | dollar | prelim | gdp | release | currency | publication | british | revised | fed | chairman
Comments 0Hits: 27  

2010.08.25 08:42:37
etoro

EVENTS

·         EMU German IFO is expected to remain stable

·         US Durable Goods Orders are expected to rise by 3%

·         US New Home Sales are expected to remain flat


  forex daily market | forex trend | forex analysis | forex news | daily forex analysis | technical news | technical analysis | USD | etoro
Comments 0Hits: 11  

2010.08.25 07:49:03
ForexYard

A downgrade of Ireland's sovereign debt rating late Tuesday further roiled foreign exchange markets already agitated by dismal U.S. housing sales. The Standard & Poor's Ratings Services downgraded Ireland's credit rating late Tuesday on concerns about the cost of bailing out the country's ailing banks.

Summary

USD - U.S Dollar Extends Losses

EUR - Euro Hits New Lows vs. the Dollar and the Yen

JPY - Yen Rises Broadly on Global Risk Aversion

Crude Oil - Oil Rebounds with U.S. Durable Goods Data Ahead

  bailing | cost | rating service | poor | standard | housing sale | us | dismal | agitate | rating | debt | shakes | downgrade | Ireland | USD | technical analysis | technical news | daily forex analysis | forex news | forex analysis | forex trend | forex daily market
Comments 0Hits: 38  

2009.11.24 10:18:03
ForexYard

The Dollar decreased dramatically on Monday after a big day on Wall Street led to increased risk taking behavior among investors. An increase in equity and the price of commodities, as well as positive news on existing U.S. home sales had a dramatic effect on trading. Investors dumped their dollars in favor of high yielding currencies such as the EUR, which made impressive gains.

Summary

USD - USD Falls Amid Gains In The Stock Market

EUR - EUR Makes Gains, But Can't Break $1.50

JPY - JPY Bounces Back After Yesterdays Losses

Crude Oil - Crude Prices Level Out

  forex daily market | forex trend | forex analysis | forex news | daily forex analysis | technical news | technical analysis | USD | dollar tumble | dollar decrease | increase in equity | commodity prices | euro impressive | euro save | safe currency
Comments 1Hits: 183  

2009.11.23 11:10:18
ForexYard

While all the major currencies continue to provide mix results, there is still one extremely strong in the market - the bullish Gold. During last night gold reached over $1,163 an ounce, making another all time high. However, a recovery of the Dollar, if indeed takes place, has the potential to put an end to Gold's uptrend.

Summary

USD - Is the Dollar Recovering?

EUR - Euro's Bullishness Halts

JPY - Yen Strengthens on Positive Japanese Data

OIL - Oil's Range Trading Continues; Tension in the Middle East Rises

  forex daily market | forex trend | forex analysis | forex news | daily forex analysis | technical news | technical analysis | USD | gold rises | forex mixed results | bullish gold | gold up trend
Comments 1Hits: 160  

2009.11.20 09:09:39
ForexYard

The Dollar and Yen gained against the EUR and other higher yielding currencies Thursday on concerns about the sluggish pace of the world economic recovery. A Decline in equity and commodity prices pushed investors back into the USD and JPY as safe haven currencies.

Summary

USD - USD Gains on Weak U.S Economic Data

EUR - EUR Struggling to Rise above $1.50 Level

JPY - JPY Trades Near a Two Week High versus Euro

Crude Oil - Crude Declines on Falling Equities

  forex daily market | forex trend | forex analysis | forex news | daily forex analysis | technical news | technical analysis | USD | economic recovery | decline in equity | decline in commodity | investors back usd | safe haven currencies
Comments 1Hits: 174  

2009.11.18 16:36:39
ForexYard

Comments by Fed Chairman Ben Bernanke surprised many investors as he joined the rallying cry for a stronger Dollar, which may lead to strength for the USD in the days ahead. On the other hand, the USD still faces downward pressure from sudden spikes in risk appetite following positive news reports as its safe-haven status has not yet diminished. After last week's drop in consumer confidence, safe-havens like the USD and JPY have begun to regain some of their strength.

Summary

USD - Bernanke Statements Diminish USD in Short-Term; Strength Ahead?

EUR - EUR Bearish following Consumer Confidence Drop

JPY - JPY Gaining from Rising Risk Aversion

Crude Oil - Oil Prices Defy Strengthening USD, Breach $80

  forex daily market | forex trend | forex analysis | forex news | daily forex analysis | technical news | technical analysis | USD | risk aversion | risk appetite | consumer confidence | fed chairman | ben Bernanke
Comments 2Hits: 178  

2009.11.17 12:26:39
ForexYard

The other major releases from the U.S. that forex traders are advised to follow are the TIC Long-Term Purchases, Core PPI and Industrial Production.

Summary

USD - Dollar Tumbles on All Fronts

EUR - GBP Climbs as Optimism Kicks In

JPY - Yen Soars against the Dollar

OIL - Crude Oil Rises by Most in 6 Weeks

  forex daily market | forex trend | forex analysis | forex news | daily forex analysis | technical news | technical analysis | USD | producer price index | PPI | us ppi | us producer price index | TIC | industrial production
Comments 1Hits: 140  

2009.11.16 09:38:40
ForexYard

The strongest trend in the market appears to be the bullishness of gold. Gold continues to break new records on a daily basis, and with a week packed with publications from the U.S economy entering, the main question is, can gold reach higher?

Summary

USD - Dollar Continues to Weaken Following Disappointing Data

EUR - Euro Sees Mixed Results against the Majors

JPY - Japan's Interest Rate Announcement Expected this Week

OIL - Crude Oil Drops on Weak U.S. Energy Demand

  forex daily market | forex trend | forex analysis | forex news | daily forex analysis | technical news | technical analysis | USD | gold rise | gold bullish | weak dollar | euro mixed results | japan interest rate
Comments 1Hits: 144  

2009.11.12 12:39:02
ForexYard

The U.S. Unemployment Claims is the primary publication today that is set to determine the level of the USD when it is released at 13:30 GMT. The other main releases that are set to dominate forex trading, especially for currencies such as the Dollar and EUR is the publication of the Industrial Production from the Euro-Zone at 10:00 GMT and Crude Oil Inventories at 16:00 GMT. Traders may find good opportunities to enter the market following these vital announcements.

Summary

USD - Unemployment Claims Report on Tap - Will USD Weakness Continue?

EUR - EUR Strengthens as GBP Sinks

JPY - Yen Declines as Stock Market Rallies

Crude Oil - Traders Await Crude Oil Inventories Report

  forex daily market | forex trend | forex analysis | forex news | daily forex analysis | technical news | technical analysis | USD | unemployment claims | unemployment claim release | us unemployment | industrial production | crude oil inventories | forex vital announcements | forex important news
Comments 1Hits: 170  

2009.11.11 10:13:32
ForexYard

The U.S Dollar bounced off a 15-month low yesterday and the EUR dipped below $1.50 as investors paused to assess whether the global outlook justifies a recent rally in higher-yielding currencies and assets. The British Pound in particular struggled on Tuesday after Fitch ratings agency told Reuters that Britain was the major economy most at risk of losing its top AAA credit rating.

  forex daily market | forex trend | forex analysis | forex news | daily forex analysis | technical news | technical analysis | USD | fitch rating | economy at tisk | AAA credit rating
Comments 1Hits: 143  

2009.11.10 10:24:17
ForexYard

The Dollar is expected to be the driver of the forex market today. This is following yesterday's bearish session for the U.S. currency. Traders will be very mush focused on Federal Reserve Bank of Atlanta President and key Federal Reserve FOMC (Federal Open Market Committee) member Dennis Lockart's speech at 14:15 GMT, and the IBD/TIPP Economic Optimism release at 15:00 GMT. It is encouraged that you traders open big positions in the USD now.

Summary

USD - Dollar Falls on Higher Risk Appetite

EUR - Pound Climbs to 3-Month High vs. Dollar

JPY - Yen Goes Volatile against the Majors

Crude Oil - Oil Jumps on Weak Dollar

  forex daily market | forex trend | forex analysis | forex news | daily forex analysis | technical news | technical analysis | USD | November 2009 | federal reserve bank | Atlanta president | fomc | federal open market committee | IBD | TIPP
Comments 1Hits: 134  

2009.11.09 15:53:20
ForexYard

While the Dollar drops against the major currencies due to the disappointing U.S employment data from Friday, the strongest trend in the market appears to be the bullish gold. Gold continues to break new record highs on a daily basis, and has now reached over $1,100 on ounce. Can it reach higher?

Summary

USD - Dollar Slides on Negative Employment Data

EUR - Euro Rises against the Majors

JPY - Yen Sees Mixed Results against the Majors

Oil - Oil Rises Due to Hurricane Ida Concerns

  forex daily market | forex trend | forex analysis | forex news | daily forex analysis | technical news | technical analysis | USD | gold | us employment | November 2009 | oil rises | oil rise hurricane
Comments 1Hits: 124  

2009.11.05 11:23:50
ForexYard

The Bank of England's (BOE) rate statement is due at 12:00 GMT while the European Central Bank (ECB) press conference is expected at 13:30 GMT. While both banks are expected to keep their interest rates at their current level, the statements should provide an insight to the current economic conditions as well as economic outlook for the near future. The BOE is expected to increase its quantitative easing program.

Summary

USD - USD Down Following Fed Statement

EUR - Pound Gains on Optimistic Services PMI

JPY - Yen Gains ahead of U.S Unemployment Rate Report

OIL - Oil Rises Above $80 a barrel

  forex daily market | forex trend | forex analysis | forex news | daily forex analysis | technical news | technical analysis | USD | BOE rate | ecb | ECB conference | ECB statements | BOE statements
Comments 1Hits: 137  

2009.11.04 08:22:04
ForexYard

The Federal Reserve is expected to keep its benchmark Interest Rate unchanged near zero today, as traders get ready for a busy news cycle. Investors will focus on the interest rate outlook, but many analysts say the Fed is unlikely to change the wording of its pledge to keep rates low for an extended period. This may have the result of stabilizing USD trading, or potentially driving the world's primary currency to new extremes. Will the USD experience a reversal from yesterday's bullishness?

Summary

USD - Dollar Advances vs. EUR ahead of Fed Statement

EUR - Sterling Falls Sharply on UK Banking Sector Concerns

JPY - Yen Hits Session Low vs. USD

Crude Oil - Crude Oil rises 2% Ahead of U.S. Factory Data

  forex daily market | forex trend | forex analysis | forex news | daily forex analysis | technical news | technical analysis | USD | fed rate | rate announcement | federal reserve interest rate | interest rate
Comments 1Hits: 127  

2009.11.03 09:40:07
ForexYard

 The USD is likely to move on the U.S. Factory Orders publication today at 15:00 GMT. The reason why this release is so important is due to Monday's releases that showed the U.S. economy is on a rapid road to recovery. Therefore, a similar result today could lead to very high volatility in the forex market, and a possible mass sell-off of the Dollar. In order to make some decent profits today, you should open large positions in the EUR/USD, GBP/USD and USD/JPY pairs now.

Summary

USD - Dollar Slides on Global Economic Recovery

EUR - Pound Plummets on Optimistic Manufacturing Data

JPY - JPY Loses Ground on All Fronts

Crude Oil - Oil climbs on Optimistic U.S. Data

  economic news release | economic news | factory orders | us factory order | USD | technical analysis | technical news | daily forex analysis | forex news | forex analysis | forex trend | forex daily market
Comments 1Hits: 90  

2009.10.29 14:09:56
ForexYard

The surprise drop in New Home Sales in the United States yesterday has resulted in a sudden buy-up in USD as investors flock to safe-havens. With a market that appears to be lacking a clear direction recently, major reports such as the New Home Sales report yesterday and today's Advanced GDP data become that much more important to watch as more investors await their release before trading.

Summary

USD - Dollar Rises despite Negative Data

EUR - EUR Sliding against Rising Safe-Havens

JPY - Yen Benefits from Stock Market Losses

Crude Oil - Crude Oil Slips Below $78 a Barrel

  us gdp report | gdp data | us gdp | gdp report | USD | technical analysis | technical news | daily forex analysis | forex news | forex analysis | forex trend | forex daily market
Comments 1Hits: 117  

2009.10.28 11:29:13
ForexYard

The USD continued to advance Tuesday against major currencies as a measure of U.S. consumer confidence registered an unexpected decline for October. Gold futures extended losses from the previous session as the USD rose. December Gold fell $7.40, to settle at $1,035.40 an ounce on the Comex division of the New York Mercantile Exchange and is currently trading around $1041.

Summary

USD - USD Gains on Weak Consumer Confidence

EUR - EUR Down ahead of the Release of Key German Data

JPY - Yen Gains on Return to Risk Aversion

Oil - Crude Prices Up ahead of Inventory Data

  forex daily market | forex trend | forex analysis | forex news | daily forex analysis | technical news | technical analysis | USD | risk aversion | us consumer confidence | unexpected decline | gold | forex gold | gold $7 | comex division | mercantile exchange
Comments 1Hits: 118  

Page 1 of 9

TOP BROKER

Banner

TOP BONUSES

$10 Non Deposit 

LiteForex broker offers non-deposit bonus.

100% Match Bonus!!!

Double your deposit with this great offer.

 $1,000 for New Traders

Open Account with eToro and get welcome bonus. 

TRADERS SURVEY

How many trades do you make per day?

Finance Blogs - BlogCatalog Blog Directory 

Who's Online

We have 22 guests online