Online FX Strategies

posted by Admin on Feb 9

The Euro’s dramatic slump slowed down last night, with some commentators fearing that the currency may be oversold, however data suggests that we could be in for a rocky period. The Chicago Mercantile Exchange showed that net short positions against the Euro rose from 39,500 contracts to 43,700. The Greek Prime Minister has denounced speculators.

Market News

Jean Claude Trichet is reportedly leaving a Sydney meeting of central bankers early to attend the European Council meeting on Thursday
Greek civil servants threatened to strike on Monday in response to the government cutbacks
Global stock markets have pulled back in reaction to the Greek fiscal crisis, with the Dow now trading below the 10,000 level for the first time since November 4th
Goldman Sachs have cut their view on Greek and Italian banks to Sell
In the UK, traders await the Bank of England’s Inflation report, scheduled for release on Wednesday.

Major Economic News

TIME MARKET DATA
1500 US Wholesale Inventories

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posted by Admin on Feb 8

This was one of the most volatile weeks the markets have had in quite some time. The markets began the week attempting to bounce from near term oversold conditions and rallying to the prior weeks highs. However, they gave way to steep declines on Thursday and most of Friday on a large increase in volume. By mid-day Friday, it seemed like the indexes would finish off the week at their lows but in the afternoon the bulls mounted a strong assault on the bears, firmly reversing the intraday trend. All the indexes finished with slight gains on huge volume, while trading well off their intraday lows and forming a candle pattern commonly referred to as a hammer.

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posted by Admin on Feb 4

The euro continues to trade at circa 1.385 against the dollar as comments emanating from the IMF states that they would be prepared to help Greece if necessary, but they are confident that the Greeks will be able to deal with their financial crisis without intervention. The Greek government has put together a three-year plan to repair their economy.

Market News

Both the UK and Eurozone had rates left unchanged at 0.5% and 1% respectively
The Bank of England have halted their quantative easing programme after 11 months of asset buying
The Dollar Index rallied against a basket of other major currencies
Please note that we are scheduled to see non-farm payroll figures released tomorrow ahead of the opening bell

Major Economic News

TIME MARKET DATA
1330 Initial Claims

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posted by Admin on Apr 20

There was further progress for the FTSE 100 to end the week, as it began what should be its final bear market rally if you are a bear, and starts to accelerate to the upside if you are a bull.

Either way there is resistance from the top of the February ascending price channel at 4,200, but above that one can probably expect a quite direct spike towards the black 200 day moving average at 4,500 plus. Either way, common sense trading will keep you right.

Only below the blue 50 day moving average at 3,913 on an end of day close stop loss basis would now even begin to suggest failure.

Trading with the Index as opposed to trading against it in these situations does help.

As far as Forex Investment Strategies were concerned the US dollar closed down 0.7% at Y98.87 and up 0.2% at $1.2999 against the euro. This would tend to dictate which Free Forex Strategies and any Free Forex Trading Strategies that you would care to try to map out. WTI lost 8 cents to $49.69 as Gold lost $5.2 to $869.8 oz.

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