Managed forex accounts

Aussie’s wedgie

admin — Fri, 12 Mar 2010 18:09:33 +0000

The Australian Dollar is trading within a wedge formation vs the US Dollar, British Pound, Japanese Yen and the euro. Price-action is also diverging against 4-hourly MACD, which hints of a possible reversal. Below .9140 (AUD/USD) will confirm that a larger correction is in store. Meanwhile, a daily close above .9170 (AUD/USD) suggests further strength and could trigger a possible retest of .9334 (January highs).

USD off lows, retail sales beat expectations

admin — Fri, 12 Mar 2010 18:09:32 +0000

USD : Lower, Yellen appointed to the Fed, retail sales post unexpected rise, consumer sentiment dips JPY : Lower, BOJ may double QE, threat of intervention EUR : Higher, Greek debt fears fade, talk of German/French Greek rescue package, industrial output surged GBP : Higher, house prices jump, Conservatives expand lead in the polls CAD and AUD : AUD mixed & CAD higher, Canada’s employment growth beats expectations Overview The USD traded at a three week low Friday pressured by announcement

Chart of the Day – USD/CAD

admin — Fri, 12 Mar 2010 18:09:32 +0000

(Chart courtesy of FX Solutions’ FX AccuCharts. Price on 1st pane, Slow Stochastics on 2nd pane; horizontal support/resistance levels in yellow; uptrend lines in green; downtrend lines in red; chart patterns in white; 50-period simple moving average in light blue.) 3/12/2010 – USD/CAD – Bearish price action on USD/CAD, a daily chart of which is shown, has finally made a tentative breakdown below the key 1.0200 support level after respecting this level several times this week. Friday’s

GBP/USD: correction underway

admin — Fri, 12 Mar 2010 18:09:32 +0000

Finally, risk appetite gave up earlier strength and majors and pair is correcting to the downside. Capped above 1.5120 support area, under that level a probable retest of 1.5080/90 seems likely as 4 hours charts show indicators also losing strength. Only above today’s high of 1.5176, pair could regain bullish momentum and approach to key 1.5230 resistance area.

February US Non-Farm Payrolls shrank a less-than-feared 36K

admin — Fri, 12 Mar 2010 18:09:31 +0000

Overview Improbably tiny ranges for many instruments this week, especially stock indices where for example the Dow Jones Industrial Average held within just 130 points. This effect was seen across the board and while there is nothing about this in textbooks candle theory hints that this is probably due to low volume and is symptomatic of a market that has lost its way and/or is gathering energy for the next move. Again a handful of indices posted new highs for this year, FTSE100, Helsinki,

Technical Summary for Majors

admin — Fri, 12 Mar 2010 18:09:31 +0000

EUR/USD Fresh strength has emerged from 1.3620 support, rallying sharply through 1.3735/87 resistance zone, to test 1.3798 range ceiling, ahead of corrective pullback. This now confirms near-term corrective base, for fresh push towards 1.3838, possibly 1.3886 on a break. Res: 1.3798, 1.3838, 1.3900, 1.3914 Sup: 1.3735, 1.3705, 1.3685, 1.3654 GBP/USD Continues to trend higher after finding support at 1.4871 higher low, with the latest strong rally, reaching 1.5171, ahead of key 1.5194, 08 Mar

Stocks Poised to Continue Rally; Demand for Risk Weakens Dollar

admin — Fri, 12 Mar 2010 18:09:31 +0000

Retail Sales just came out bullish. Equity markets are soaring. Bonds are breaking. The Dollar is plunging. The market reads this report as good. The key will be to be able to separate the report from the trade. The question is will U.S. investors chase equity market higher or wait for a pullback? Overall, however, it looks like a strong report. U.S. equity markets are trading better overnight ahead of this morning’s Retail Sales Report. Demand for higher risk assets, the weaker Dollar

U.S. Dollar weakens after Euro Breaks Technical Level

admin — Fri, 12 Mar 2010 18:09:30 +0000

The U.S. Dollar is trading lower overnight against all major currencies. Investor demand for higher risk assets has been the driving force along with short-covering. Economic releases have played a limited role in this week’s Dollar movement. However, this may change today following the release of the U.S. Retail Sales Report and Consumer Sentiment. The EUR USD is trading sharply higher after piercing the recent swing top at 1.3735. This reaffirmed the main trend which turned up last

Mexico Flows- Modest gains to 12.54 on ‘+’ global markets, weak USD; local resistance

admin — Fri, 12 Mar 2010 18:09:30 +0000

Published at 13:20 (GMT) 12 Mar MXN posts gains of 0.18% to 12.5425 amidst positive Latam FX and global markets. Despite the support from a dropping USD and higher oil prices, MXN is not finding traction as resistance increases as it gradually nears 12.50, especially as this is deemed an attractive buy USD signal for locals. Nevertheless, with local data due later this morning along with US market open and other US data, MXN will likely only gain more traction once a more firm outlook is set

Technical Major Currencies Midday Report

admin — Fri, 12 Mar 2010 18:09:29 +0000

EUR/USD The pair pushed upwards without the need base on the support mentioned this morning, nearing primary targets between 1.3800 – 1.3835. Momentum indicators are showing clear negative signs that could pressure the pair to attempt a bearish correction to retest the breached resistance at 1.3700 before continuing the expected bullish direction over intraday basis; four-hour closings should remain above 1.3700 for the expectations to prevail. The trading range for today is among the key