The movements we saw during Friday's trading session may have been exaggerated and may be reversed. Today is a quiet news day for the U.S. as there are no major economic data releases on the calendar today. However, Britain and Euro-zone appear to be releasing the bulk of today's news, which means we may see a day of trading with low liquidity and therefore increased volatility. Day-traders can take advantage of these intense trading days by swinging within the larger-than-normal price fluctuations. [caption id="attachment_1822" align="alignrig... ( read more )
Posts Tagged with ‘analysis’
Gold Trading Report – April 8th
Review
Gold has seen the steepest decline since mid March, Gold has closed a 6% downfall from April 2nd up until a couple of days ago consolidating at $870/Oz. The downtrend occurred due to the moving of US dollars into the equity market especially the major European stock exchanges and other US dollar backed investment instruments, the decline in demand for Gold in the jewelry market and higher demand for scrap has assisted the downfall.
The uncertainty of global stimulate packages, decline in European and US stocks and relatively low pr... ( read more )
May 14, 2008 - US CPI – On Tap
The USD strengthened throughout yesterday's trading and as a result of mostly positive economic releases; it saw a day long bullish trend. Although the USD did lose momentum on Monday, yesterday it gained strength against most of its rivals. Against the EUR, the greenback rose and led to a decline of the pair to a level of 1.5480 in late New York market trading. The main factor that led to the USD's rise was the better than expected Core Retail Sales figure.
Yesterday's batch of American economic announcements started with Fed Chairman Bern... ( read more )
May 13, 2008 - Forex Technical Analysis
EUR/USD
There has been a strong breach through the upper level of the bearish channel on the 4 hour chart. The momentum on the daily chart is now bullish, yet the hourlies indicate a possible local bearish correction. Buying on dips might be a good strategy today.
GBP/USD
The float within the narrowing bearish channel on the daily chart continues. The cable now floats in the middle of the channel with moderate bullish momentum. The daily Slow Stochastic is showing a strong bullish cross which implies on an upcoming bullish correction. ... ( read more )