The Latest in Forex News & Analysis.

US Stocks end the day higher.

By | April 22, 2014 4:56 PM | 0 Comments

The global stock markets moved higher today with the exception of the Nikkei.  The Dow was up over 100 points at one point today but ended up 66 points. The Nasdaq was up 0.97% or 39.91 points.   It was helped by Netflix which has stronger earnings.

Tomorrow, Boeing, Apple and Facebook all report (all with others between now and the end of the week).  The next few days should have continued volatility as a result.

——————————————————–

All information on this site is provided for informational and educational purposes only. Information provided is not to be misconstrued as trading advice. Past results are not indicative of future results. In addition trading in foreign exchange markets on margin carries a high level of risk, and may not be suitable for all individuals.

 

AUDUSD stays above intraday trend line support. CPI to be released in the new trading day.

By | 12:52 PM | 0 Comments

The AUDUSD took a look above the 200 hour MA today (currently at the 0.93669 level – see green line in the hourly chart below) and as you can see on the 5 minute and hourly chart above and below, that spike higher was able to extend to 0.9377 However, that move was short-lived and the price fell back down.

The move lower  has been able to find support buyers against trend line support on the 5 minute chart.  That line has now been tested 5 separate times.

So support is holding but resistance against the 200 hour MA is also keeping a lid.  With the price higher on the day and holding support below, I  have to give the nod to the buyers in a close call, but  also understand that with the support line holding now, a break below could solicit sellers should the market fail to extend and stay above the 200 hour MA soon.   The spring may be getting tighter. A break may be coming soon.


PS. CPI will be released in the new trading day (9:30 PM ET/11:30 AM Local time in Australia) with the expectations of a QoQ gain of 0.8%. The YoY is expected to come in at 3.2% vs. 2.7%.   The higher inflation – especially on the YoY, may be helping the bullish sentiment today.  Risk will be increased through the release, however.

 

——————————————————–

All information on this site is provided for informational and educational purposes only. Information provided is not to be misconstrued as trading advice. Past results are not indicative of future results. In addition trading in foreign exchange markets on margin carries a high level of risk, and may not be suitable for all individuals.

 

Ex Fed Chair Bernanke says economy moving to complete recovery

By | 12:43 PM | 0 Comments

He adds:

  • Economy making progress
  • He amont forecasters predicting faster growth
  • Forward guidance meant to set out reaction function
  • Neither inflation nor deflation big risk to US
  • Inflation to speed up to 2%
  • Risk of inflation below 0% quite low

——————————————————–

All information on this site is provided for informational and educational purposes only. Information provided is not to be misconstrued as trading advice. Past results are not indicative of future results. In addition trading in foreign exchange markets on margin carries a high level of risk, and may not be suitable for all individuals.

 

EURUSD can’t get back above the 100 hour MA…breaks back down

By | 10:46 AM | 0 Comments

The EURUSD has found an air pocket and has moved lower in the last few minutes of trading. The pair tried to get and stay above the 100 hour MA today  (blue line in the chart above) but failed to get back above on the correction (see 5 minute chart below). This helped to turn the tide back to  the downside and the price is now back toward the closing level from yesterday’s trading at the 1.3792 level (see prior post at http://blog.fxdd.com/2014/04/22/eurusd-reverses-higher-in-trading-today-but-finding-life-above-the-100-hour-ma-difficult-in-early-ny-trading/)

The next target below comes in at the 1.37869 level. This is the midpoint of the April trading range (from the April 4th low at 1.3669 to the April 11th high at 1.39044) .

The range for the day is still a low 39 pips, so should there be a break below this next target level, there could be further selling momentum.  The 1.3760 level is the 61.8% of the April trading range and would be the next downside target on  a momentum break lower.


——————————————————–

All information on this site is provided for informational and educational purposes only. Information provided is not to be misconstrued as trading advice. Past results are not indicative of future results. In addition trading in foreign exchange markets on margin carries a high level of risk, and may not be suitable for all individuals.

 

The Good and the Bad from the Existing Home Sales data

By | 10:28 AM | 0 Comments

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.

ADVISORY WARNING: FXDD Now provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect's individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and FXDD Now specifically advises clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Forex dealer. Any news, opinions, research, data, or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. FXDD Now expressly disclaims any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on such information. As with all such advisory services, past results are never a guarantee of future results.