US dollar

Forex Trading: Stocks moving lower. Dollar strengthens as the focus shifts overseas again.

Greg Michalowski — Thu, 06 Nov 2008 11:26:02 -0500

The dollar has moved higher as the market reacts to weaker stock market and worries about the Eurozone and UK start to dominate.

The EURUSD moved back below the 100 and 200 hour moving average at the 1.2782 level. This level will provide resistance intraday.

The GBPUSD, apart from the squeeze after the 150 basis point cut, has respected the 100 hour moving average line (currently at the 1.5958 level). This will be the key level on the upside and like the EURUSD I expect pressure to continue as the implications of the 150 cut start to take hold.

Forex Analysis: Pressures in the market as debate about rescue plan continues. LIBORS rise sharply.

Greg Michalowski — Wed, 24 Sep 2008 09:32:10 -0400

Overnight the Fed increased swap lines to other overseas central banks by 30 billion. In addition t-bill rates have moved back lower and the TED spread, the difference between the T-bill rate and the Eurodollar deposit rate, has widened back to over 300 basis points. This is an indication of another flight to quality in US liquid assets like T-bills. It is also an indication of the crowding out of borrowing in the "system".

US Dollar rally. If you can't sell the dollar, buy it. The Forex Summary and Preview for next week

Greg Michalowski — Fri, 05 Sep 2008 17:20:01 -0400

FOR A PRINTABLE PDF COPY OF THIS REPORT GO TO THE BOTTOM AND CLICK ON THE LINK

There were many times this week, where it seemed like there was an opportunity to sell the dollar. Tops were made. Key technical levels were looming. Hurricane Gustav came and went and two others headed for US soil behind it. Statistics like 19 of 23 days the GBPUSD was down made buying GBPUSD (selling the USD) tempting. Surely a decline in the dollar was on the horizon? Surely, a weak employment report would cause a sell off on Friday?

Forex Trading: London and Europe have gone home. It is NYs turn to move toward the weeks close

Greg Michalowski — Fri, 18 Jul 2008 12:34:40 -0400

The EURUSD remains supported by the hawkish comments, higher oil and a ho hum stock market. However, the pair is being contained for the time being by the 100 hour MA at 1.5884 and the 200 hour MA at 1.5824.

Forex Trading: Markets are getting quite volatile

Greg Michalowski — Tue, 15 Jul 2008 11:38:54 -0400

The markets are becoming quite volatile as the markets are digesting the news, comments by Bernanke and the current levels.

Forex Trading: US dollar gets weaker. GBPUSD approaches resistance.

Greg Michalowski — Mon, 14 Jul 2008 12:43:07 -0400

The GBPUSD is approaching the high from Friday at 1.9957. However, directly above the level looms the 200 day moving average at 1.9967. This level will need to be broken on a closing basis to get the medium to longer term buyers involved. The market will be watching this level closely in the near term. Expect sellers against the level, but the potential exists for stops above it.

NOTE, however, that the pair must close above it to confirm the move.

Forex Trading: Stocks losing steam. Gold Up.

Greg Michalowski — Mon, 14 Jul 2008 10:03:21 -0400

The stock market has lost its steam. EURUSD now moving through 1st resistance level at the 1.5888 level on the upside (SEE EARLIER POST). Next level is 1.5904. Should slow down here.

USDJPY has moved lower. Market is moving back to focusing on the longer term problems. Expect continued volatility.

Forex Trading: US Dollar stronger today

Greg Michalowski — Wed, 28 May 2008 08:32:37 -0400

The US dollar is stronger this morning as the oil price comes off. In the Eurozone the German inflation numbers from the various German states were higher than what was expected. Rather than an inflation rate of 2.9%, the expectation is for a rise to 3.2%. The price of liter of petrol in Germany in the past month has shot up 6% from 1.41 euros per liter to 1.50 euros. Over the period the dollars relative strength is making the cost of oil that much more expensive as the oil is denominated in dollars and a rising dollar makes buying it in Europe, more expensive. The relief in the oil price today will help however.

Forex Trading: US dollar gets hit as oil rallies, stocks decline, commodities move higher

Greg Michalowski — Fri, 16 May 2008 11:41:23 -0400

The dollar has been under pressure as weaker economic numbers this morning, higher oil, higher commodities (Gold up $22) and even a rumor that non-farm payroll would be revised sharply lower (not confirmed), has attracted dollar bears.

The EURUSD broke the wedge formation and the high for the week. GBPUSD broke through the channel resistance (after testing the downside support). USDJPY fell sharply as the JPY crossed came under some pressure. USDCHF breaks sharply lower as well.

Forex Trading: US dollar has a string of good news which will support

Greg Michalowski — Mon, 24 Mar 2008 10:10:59 -0400

EURUSD broke through the support at 1.5407 area). The markets key level is the 1.5345 level. USDJPY above 100.00 and targets 100.65. USDCHF back above 102.00. This is the 38.2% retracement level but looks like there is room for further gains today (with a target of 102.75).