http://forex.fxdd.com "Be more informed, be a better trader" Tue, 16 Mar 2010 20:48:08 +0000 http://backend.userland.com/rss092 en Remember the gap on the hourly chart from February 26th to March 1st between the 1.5239 and the high on Monday at 1.5203?  That gap was filled with the GBPUSD move up to the high for the day at the 1.5244 (PHEW).  The price now is looking to hold the ... http://forex.fxdd.com/75560/forex-trading/gbpusd-fills-the-hourly-bar-gap-from-feb-26thmarch-1st For immediate release Information received since the Federal Open Market Committee met in January suggests that economic activity has continued to strengthen and that the labor market is stabilizing. Household spending is expanding at a moderate rate but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight ... http://forex.fxdd.com/75553/forex-trading/fed-keeps-rates-exceptionally-low-for-an-extended-period If the FOMC changes the "extended" time period or by chance continues to raise the Discount Rate toward a more normal spread to Fed Funds, the USDJPY would likely soar.  The high from last Friday was at 91.07. This would be the first stop.  The next target would be 91.37 ... http://forex.fxdd.com/75543/forex-trading/market-reaction-to-fomc The FOMC is expected to announce no change in the 0.25% target rate today.  They may acknowledge that the economy continues to be on a recovery path citing the higher Retail Sales and employment despite the harsh weather.  Given the still high unemployment and the unwinding of stimulus measures they ... http://forex.fxdd.com/75524/forex-trading/fomc-meeting-today [viddler id=4e67fc6e&w=580&h=477] http://forex.fxdd.com/75464/forex-video/forex-midday-report-march-16 http://forex.fxdd.com/75520/forex-trading/eurgbp-move-higher-pushes-eurusd-back-down-gbpusd-back-up THE GBPUSD has continued it's push higher reaching a high of 1.5182 in the process. The pair has moved back down and has 1.5151 now as intraday support for the pair.  There was a triple high off the hourly chart at 1.5194.  The high for the week extended to a high ... http://forex.fxdd.com/75515/forex-trading/gbpusd-pushes-higher The high for the week is 1.3777.  The high last week was 1.3796. Longer term the resistance remains at the 1.3852-1.3873 area (see chart below).   Greece removed from watch list of S&P. http://forex.fxdd.com/75507/forex-trading/eurusd-breaks-higher-2 Upward pressure on Canadian Currency not just commodities. He implies the economy is chugging along as well.  He also says that the strong fiscal position of the Canada is helping to support the C$. The data this morning supports that notion as well. Manufacturing Sales rose by 2.4% vs 0.6% expected with ... http://forex.fxdd.com/75502/forex-trading/comment-from-canadas-flaherty Upward pressure on Canadian Economy broader than just commodities. Not worried but watchful about Canada Housing market. He also said will continue with stimulus until the end of the next fiscal year. The fiscal year ends at the end of March. http://forex.fxdd.com/75497/forex-trading/canada-finance-minister-on-newswires The 100 day MA is at 90.11 today. THe midpoint of the move down from the Feb 19th high to the low comes in at the 90.13.  The 200 hour MA come in at 90.14. The area should find support.  A break below, however, may lead to some liquidation as the ... http://forex.fxdd.com/75490/forex-trading/usdjpy-moves-toward-the-9011-support-area The 1.3735 level was the high from March 3rd.  Yesterday, the market stalled at this level before giving way and moving lower. Today, the price is back up testing this level.   The high reached in the last few minutes found sellers against the level and we have seen the price ... http://forex.fxdd.com/75482/forex-trading/eurusd-keeps-13735-as-the-lid-for-now-at-least [viddler id=f72bd7cd&w=580&h=477] http://forex.fxdd.com/75462/forex-video/forex-morning-report-march-16 Gold just spiked above the 200 hour MA level at the 1119 .48 level. This is now the support area for the pair. Oil is also up on the day with the Oil futures ups 1.09 currently. The USCAD has not been able to fall through the 1.0153 low from last week ... http://forex.fxdd.com/75472/forex-trading/gold-moving-sharply-higher The Manufacturing Sales rose by a stronger than expected 2.4% for the month of January. The gains were led by primary metals, plastics and petroleum sales. The USDCAD has come under pressure off the report as the price moves toward the low from Friday at the 1.0155 level.  A break of ... http://forex.fxdd.com/75454/forex-trading/usdcad-fall-on-better-economic-data