The Dollar soared yesterday against most of its currency pairs, as its global reserve currency status returned to the forefront. This was due to weak U.S. unemployment figures, as Unemployment in the U.S. rose far higher than analysts had forecast. This spurred demand for safe-haven currencies, such as the USD and JPY. As a result of the strong USD, Crude Oil prices also tumbled. Today, investors should continue trading the USD, EUR, JPY, and Gold, as large profits will be made on market volatility.
The U.S Dollar gained about 1% versus the ... ( read more )
Archive for July, 2009
US Non-Farm Employment Change to Set the Pace Today
The forex market is expected to be extremely volatile today, as the U.S. releases the results of the Non-Farm Employment Change at 12:30 GMT. The EUR Minimum Bid Rate at 11:45 GMT and U.S. Unemployment Claims at 12:30 GMT are also expected to dominate trading for the USD, EUR, and GBP crosses. Traders are advised to enter the main currency pairs now in order to profit from risk appetite.
The Dollar index continued its decline yesterday, trading at 79.619, down from 80.179 late Wednesday. The drop followed the release of the ADP Non-Farm Empl... ( read more )
EUR/USD – Strong Short Signal – July 1st 200...
There is a strong short signal on the EUR/USD on the daily chart. the next target price is 1.4080.
Here is the video that shows the forex signal:
July 1, 2009 - Daily Forex Tips – July 1st 2009
Today will be an important day for forex traders. Wednesdays typically act as the day with the most trading volume and volatility, and with events such as the US's ADP Non-Farm Employment Change report being released just prior to the US market open, we will no doubt see a very intense trading session for all USD pairs and crosses, as well as dollar-based commodities (Gold, Crude Oil, Silver). The technical charts for the USD this morning is showing a lot of pressure mounting towards volatile price jumps, which will likely occur just after the ... ( read more )
July 1, 2009 - ADP Employment Data Wil Drive the Market Today
The surprise drop in consumer confidence in the United States yesterday has resulted in a sudden buy-up in USD as investors flock to safe-havens. With a market that appears to be lacking a clear direction recently, major reports such as the CB Consumer Confidence report yesterday, and today's ADP Non-Farm Employment Change report become that much more important to watch as more investors await their release before trading.
The greenback gained Tuesday as a report on U.S. home prices showed that the pace of price declines may be slowing and m... ( read more )