The US Dollar and Crude Oil Will Dominate Trading today.
Thursday saw the U.S. Dollar lose ground against most of the major currencies. Whereas Crude Oil prices soared to commence Friday's trading on a positive note.[caption id="attachment_1793" align="alignright" width="128" caption="Daily Forex Tips"][/caption]
The USD tumbled against such currencies as the EUR, GBP and CAD yesterday. This was due to a number of reasons, such as the forecast for today's Advance GDP figures from the U.S. being significantly better than the previous results... ( read more )
Archive for July, 2009
July 30, 2009 - Crude Oil Crashes after Unusually High Inventory Numbers...
The price of Crude Oil experienced a sharp decline in prices yesterday after a U.S. inventories report highlighted a sudden surge in energy supplies. While these reports may carry mixed messages about demand, supply, and growth expectations, the message yesterday was quite clear: demand is plummeting. Many analysts were expecting a draw-back in prices after last week's surge, but the inventory report only demonstrated how unwanted this commodity has become, which only put additional weight on the downward pressure this commodity was already exp... ( read more )
Sell Signal – EUR/USD July 29th 2009 – 12:30...
There is a strong bearish signal on the EUR/USD on the 1 hour chart.
As we can see the chart shows an opening channel formation, the slow stochastic and RSI are in a negative slope, which indicate a strong bearish momentum.
Looks like a great time to make an sell entry to the market.
Here is the video where i show the signal:
July 29, 2009 - Weak Consumer Confidence Takes the USD Up
[caption id="attachment_1780" align="alignleft" width="111" caption="The USD Rebounds"][/caption]The U.S dollar drifted sideways against a basket of currencies on Wednesday, hovering not far from the lowest level of the year, as investors continue to assess the real economy by looking at economic data in the U.S. Nonetheless, the U.S. dollar had found modest support against the EUR and trimmed a loss against the Japanese yen after some positive news about the U.S. economy. With signs that the U.S. housing market may be stabilizing, traders will... ( read more )
July 28, 2009 - High USD Volatility on Optimistic Homes Sales Data
[caption id="attachment_1776" align="alignleft" width="128" caption="USD Volatility"][/caption]The U.S dollar remained weak against its major currencies in range-bound trade on Monday as U.S. equity markets remained in negative territory, indicating waning desire among investors for riskier assets. Also Monday, U.S. and Chinese officials began meeting for two days of economic talks, though many analysts questioned whether anything substantial would emerge. Nevertheless, traders will be on alert for any commentary regarding the U.S. dollar's sta... ( read more )