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Forex Trading: USDJPY trying to bottom again

Posted by Greg Michalowski on Mon, 06/30/2008 - 8:57am in

The USDJPY sold off sharply last night moving below the 50% retracement level of the last leg up and ultimately tested the 61.8 retracement level at the 104.93 level (low 104.97) before bouncing.  The pair has now made it back above the 50% level at the 105.63 level and has strung together 4 straight hourly up bars (see chart below).  If the pair can remain above the 105.63 level today, the bottom may be in place.  All bets are off if the pair goes below the 105.37 level.

Forex this Week: Key News and Events for the upcoming week (Non PDF Version)

Posted by Greg Michalowski on Sun, 06/29/2008 - 3:47pm in

Sunday Night 

11:00 PM Sunday Evening: NZD Business Confidence: The indexes recent low was -57.9 in March.  Since then it has recovered somewhat to -49.7.  There is no estimate for the release, but the market will be eyeing the results for clues to the economy.

Monday

Forex Special Report: Eurozone Inflation - It's in the Numbers

Posted by Greg Michalowski on Thu, 06/05/2008 - 9:26pm in

Today, ECB's Trichet "surprised" the market with his rate hike predicition.  Is it really a surprise?   If you look at the numbers, it really is not. 

Read the special report on the ECB's inflaton dilemma and how they will most likely have little choice but to raise rates ahead.

CLICK ON THE PDF ATTACHMENT BELOW TO READ THE FULL REPORT

Thank you for choosing FXDD.

Greg Michalowski

Chief Foreign Exchange Analyst

 

Forex News: FXDD Special Report on Bernanke's Change of Heart on the US Dollar

Posted by Greg Michalowski on Wed, 06/04/2008 - 7:34am in

Chairman Bernanke's comments on the US dollar yesterday reflected a change in heart on the Fed's position on the US dollar.  To print out the article, click on the PDF attachment at the bottom of the report.

 

Forex Analysis: The Fed's Change of Heart on the Dollar

Forex Trading: The quiet markets should continue into NY market

Posted by Greg Michalowski on Mon, 05/26/2008 - 8:10am in

 

With the US and London holiday, the markets should remain very quiet today.  Movements in these markets tend to random with very little in the way of market liquidity.  Needless to say there is no news to report.

For the EURUSD the pair is in a triangle formation.  The support and resistance levels are at 1.5731 and 1.5785 (see chart above)

Forex News: Next week things heat up again after holiday trading on Monday

Posted by Greg Michalowski on Fri, 05/23/2008 - 3:19pm in

Next week the economic data starts to heat up again. 

Forex Trading winding to a close...quietly

Posted by Greg Michalowski on Fri, 05/23/2008 - 3:16pm in

The market chose to quiet down as we head into the close.  The USDJPY has wandered back toward the 103.35 level which contained the upside earlier. 

The EURUSD could not make a serious attempt to the 1.5813 high from yesterday, stopping at the 1.5794 level.  It does remain above the 1.5735 support level which may come into play on Sunday evening.

The GBPUSD sits near the closing level from yesterday and could not extend yesterdays high. 

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