FXDD Today: A recap of today and preview of the Economic Releases for Monday (PDF)
FXDD Today combines end of day prices, a graphical preview of the economic releases for the next trading day, and a Market Recap of the current days key activities in a concise one page format in PDF format It is designed to be used through the trading day and also as a historical record for review. We hope you find it to be useful and helps you become more informed, so you can be a better trader
Forex Trading Volatility was promised. And volatility is what we have
The volatility and choppy trading action has gotten traders shaking their heads in a bit of disbelief. We saw the GBPUSD surge up from 1.6004 to 1.6228, then back down to 1.6067 and back up to 1.6215.
Hey if you are good enough (perhaps lucky too), to catch the up and down swings, all the power to you. For many, however, the month end market flows are swinging the currency pairs around with little in the way of rhyme or reason. Sit tight.
Forex Trading Markets are getting volatile as the London/EUROPE session end approaches
As discussed earlier, the markets are volatile and choppy as the Europe and UK end of week/month end approaches.
The GBPUSD broke through the 1.6065 support level (100 hour moving average), retraced to test the level, sold off to new lows at 1.6004 then rocketed higher. Expect more of the same volatility as we move closer to the week end.
Oct 31 2008 FXDD Video Report – www.fxdd.com Happy Halloween last trading day of the week
Forex Trading; Stops in GBPUSD hit at the 1.6056 level
Watch the retracement to see if intraday sellers put a ceiling at the key level.
Forex Trading GBPUSD testing support.
A break of the 100 hour moving average at the 1.6056 should solicit further selling.
Forex Trading EURUSD randomly moving up and down as the market digests the news
The EURUSD is moving randomly with a bias to the downside as the market digests the weaker German Retail sales last night, and prospects of a rate cut next week by the ECB. On the US side, however, the weak Chicago PMI, the election, and a weak Non Farm Payroll on tap for next Friday are pulling for a weaker dollar.
From a technical perspective, the 100 and 200 hour moving averages are converging signalling the same short term uncertainty (1.2750 and 1.2788 respectively). Add to the Halloween brew month end flows which should add a touch of up and down volatility and you have the making of a choppy trading session as we head into the weekend.
I would expect that the upsides should find resistance against 1.2769 and above that, further intraday resistance at 1.2800. On the downside a break of the 1.2700 should lead to further pressure with the low for the day at 1.2667 the obvious target.
Forex News U of Michigan revised a touch higher at 57.6 vs. 57.5
The Consumer Confidence measure stood up to the preliminary release, but remains at the low end of the range.
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