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Happy New Year to All

Written December 31, 2010 at 12:59 PM EST by Greg Michalowski 

On behalf of Shawn Powell, Jared Boyd and Jason Galano let me wish you all a joyous, healthy New Year.  May you also enjoy good fortune in your trading in 2011. 

Peace on earth. Goodwill toward men,

Greg Michalowski

Archived in Forex Trading

USDCAD tests April 2010 and year low at 0.9929

Written December 31, 2010 at 11:21 AM EST by Greg Michalowski 

fxdd-pic-1592

Archived in Forex Trading

USDCHF rebounds hard off of 0.9300 and 0.9320

Written December 31, 2010 at 11:14 AM EST by Greg Michalowski 

fxdd-pic-1591

The USDCHF fell through the bottom trendline support at 0.9320 and fell to a low of 0.9300.  The move back above the 0.9320 and the holding of the 0.9300 level now gives dip buyers a level to lean against.  Look for profit taking buyers on dips toward the 0.9320 level. The upside target becomes the 94.05 level where trendline resistance comes in.  Volatility to prevail for the next hour.

Archived in Forex News, Forex Trading, FXDD Today

USDJPY falls sharply. 80.70 is target area below.

Written December 31, 2010 at 11:08 AM EST by Greg Michalowski 

fxdd-pic-1589

The resistance above is at 81.25-28 (see chart below).  The next key support comes in at 80.70 (see chart above).  Anything can happen as end of year volatility rules the day.

fxdd-pic-1590

Archived in Forex Trading

EURUSD heads toward 1.3423 target

Written December 31, 2010 at 10:54 AM EST by Greg Michalowski 

fxdd-pic-1587

The 1.3423 levle is the next target (see chart). Could see resistance against the level. A move above targets 1.3446 which was the low on November 26th.

fxdd-pic-1588

Archived in Forex Trading

GBPUSD tests 50% midpoint of December Range

Written December 31, 2010 at 10:48 AM EST by Greg Michalowski 

The midpoint of the December high to low range comes in at 1.5626. Can the market find profit takers or is the end of year squaring going to control the market?>

Archived in Forex News, Forex Trading, Video

NY Morning Forex Commentary is available for viewing

Written December 31, 2010 at 10:09 AM EST by Greg Michalowski 

The dollar continues to fall as the year moves toward the close. The EURUSD is extending above the 200 day MA and tests 1.3400. The USDJPY and USDCHF continue the move to the downside. GBPUSD surged higher in the last hour as London looks to ring in their New Year.

If you want to be included in my email distribution list, simply send me an email at greg@fxdd.com and I will have you included.

Archived in Forex News, Forex Trading, Video

EURJPY: A techincal picture for the pair

Written December 31, 2010 at 8:20 AM EST by Greg Michalowski 

Archived in Forex News, Forex Trading, Video

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    HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.

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