[caption id="attachment_1822" align="alignright" width="128" caption="Will The USD Continue to Slide?"][/caption]Can the Dollar Slide Further?
Following Friday's poor U.S employment data the Dollar is weakening on all fronts. The EUR/USD is facing a very strong resistant level, placed at the 1.5050 price. The GBP/USD is also reaching towards a significant resistant level, at the 1.6750 level. If these levels will be breached, the Dollar might weaken to new yearly lows.
In addition, the strongest trend in the market looks to be the bul... ( read more )
Archive for November, 2009
Non-Farm Employment Change on Tap
Today, traders should pay close attention to the release of the U.S. Non-Farm Employment Change report. This indicator always produces extreme market volatility in the major currency pairs. Traders may find good opportunities to enter the market following this vital announcement at 13:30 GMT.
The Dollar was little changed against most of its major counterparts during yesterday's trading session, a day ahead of a key government jobs report that will shed light on the health of the U.S. economy. By yesterday's close, the USD fell slightly... ( read more )
November 5, 2009 - Forex Traders Await BOE and ECB Statements
The Bank of England's (BOE) rate statement is due at 12:00 GMT while the European Central Bank (ECB) press conference is expected at 13:30 GMT. While both banks are expected to keep their interest rates at their current level, the statements should provide an insight to the current economic conditions as well as economic outlook for the near future. The BOE is expected to increase its quantitative easing program.
The Dollar traded near its lowest level in a week against the EUR after the Federal Reserve kept borrowing costs near zero. The F... ( read more )
November 3, 2009 - The Greenback Slides on Global Economic Recovery
The USD is likely to move on the U.S. Factory Orders publication today at 15:00 GMT. The reason why this release is so important is due to Monday's releases that showed the U.S. economy is on a rapid road to recovery. Therefore, a similar result today could lead to very high volatility in the forex market, and a possible mass sell-off of the Dollar. In order to make some decent profits today, you should open large positions in the EUR/USD, GBP/USD and USD/JPY pairs now.
The U.S. Dollar slid against the EUR and CHF on Monday, as positive... ( read more )
November 2, 2009 - A Week Packed With Economical Data Expected
[caption id="attachment_1808" align="alignright" width="293" caption="Packed News Week A Head"][/caption]After a week of greenback recovering this week promises to provide high volatility. Interest Rate announcements are expected from the U.S, the Euro-Zone and the U.K. In addition, the Non-Farm Employment Change for October will be released on Friday. In short, sharp fluctuations are expected, with plenty of opportunities to make large profits.
During last week's session the Dollar managed to recover against most of the major currencies. T... ( read more )