- EURUSD breaking lower. Moves back below channel trendlines
- Gold down sharply.
- EU Diplomat: First draft of EU Treaty to come out next week
- Week ahead in Trading- Live Morning show with Greg Michalowski 9:30AM TODAY
- The Forex Week Ahead for the week of December 12th 2011
- EURUSD makes new lows for the day.
- Bobbys Corner-Open Market-December.12.2011
- The FXDD Morning Forex Commentary for Dec 12th 2011
- USD/INR Reaches All Time High, Trading at 52.75
- S&P economist wanted to send a strong signal that the Eurozone is facing risk of major recession
- German WPI up 0.7% for November
- 12-12 Economic Calendar
- AUDUSD With Downward Potential
- China Sets Yuan Reference Rate @ 6.3297
- USDSGD Moving Higher
Posted: 12 Dec 2011 07:20 AM PST
Posted: 12 Dec 2011 07:10 AM PST
Gold has been moving sharply lower after testing topside resistance against the trendline last week. The move lower has taken out the low from last month at the 1666 level. The next target is at the 1628.92 level which is the 38.2% of the move higher from the July 2010 low. Before gettng there, a break below the bottom channel trendline on the 5 minute chart below will need to be breached. The level comes in at the 1660 level currently. The price has dipped below this trendline once already. A second dip will be needed to open the door for an extended move toward the 1628.92 target (on the daily).
Posted: 12 Dec 2011 06:23 AM PST
The EURUSD remains below the resistance area of the hourly chart at the 1.3251-58 level. The low from November at the the 1.3211 remains the next target for the pair. Although the bias remains to the downside, the momentum seems to be slowing. Looking at the 5 minute chart, the price has resistance that could extend up to the 1.3266-1.32779 area (see chart below)
Posted: 12 Dec 2011 06:23 AM PST
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Posted: 12 Dec 2011 06:15 AM PST
Posted: 12 Dec 2011 05:25 AM PST
The EURUSD has broken to new session lows and has also broken below the bottom channel trendline on the hourly chart above. In addition, the low from November 29th at the 1.3258 level has been breached. The break below these levels, make the area the topside resistance now. If the price can remain below these levels, the bears will remain firmly in control.
Posted: 12 Dec 2011 05:23 AM PST
The USD and JPY rose as investors seek out safe haven assets as the European debt crisis continues to cause havoc in the marketplace.
Asian equity markets were mixed-Europe is lower-and US Futures are pointing to a lower opening this morning.
HAVE A GREAT DAY & GOOD LUCK
Posted: 12 Dec 2011 05:18 AM PST
Posted: 12 Dec 2011 04:50 AM PST
Posted: 12 Dec 2011 01:58 AM PST
* risk of significant credit crunch
* Euro summit made progress but can’t raise expectations too high, there will be subsequent summits
* summit important step for possible resolutin to crisis of confidence
* summit made progress in ECB becoming the lender of last resort
* action is neede on fiscal and monetary side, before time runs out
Posted: 11 Dec 2011 11:13 PM PST
German Wholesale Price Index m/m came in at 0.7%, stronger than the 0.2% expected.
Eur/Usd currently trades at 1.3330.
Posted: 11 Dec 2011 08:40 PM PST
Posted: 11 Dec 2011 05:59 PM PST
The AUDUSD pair has seen the longer-term moving averages turn negative and now 4-21 looks to break below 4-200. The pair has been trapped in December between the 61.8% that’s resisted the pair and the 38.2% that has provided a bid. The markets do not seem encouraged by the developments in Europe over the weekend and any risk off momentum should be reflected in the price of the Aussie with test of the 4-100hr (around par) and possibly the trendline support before year-end.
Posted: 11 Dec 2011 05:20 PM PST
Posted: 11 Dec 2011 05:19 PM PST
Despite seemingly ‘positive news’ toward a final resolution in Europe, Draghi dovish move on rates last week to help banks with liquidity and no suitable financing mechanism to hold the union together through the planned fiscal austerity the market continues to view risk and the Euro in a negative light. On the chart below we see the USDSGD pair benefiting from this as it trades above the 50% retracement toward trendline resistance and the 61.8% retracement where perhaps some offers can be found.
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