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March 16, 2010 by Forex news
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- Bags from Southeast Asia closed with mixed results
- The OPEC crude fell by 1.9 percent and trades at $ 76.24
16/03/2010
– A barrel of Brent set to fall and stood at $ 77.80
- The euro against the dollar stays at the opening
- The Federal Reserve meets to discuss monetary policy
– The U.S. housing starts fall in February
- U.S.: Import prices fell 0.3% in February
- The euro zone inflation falls to 0.9% in February
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Forex Courses
March 16, 2010 by Forex news
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Key day Monday 15 major pairs
March 15, 2010 by Forex news
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Not know what people are saying about fundamental Cable (GBPUSD) right now, but in the chart to see a rally set for this pair .
Since the beginning of the year, cable has been on a steady downward trend from a peak on 19 January 2010 of 1.6450.
The rapid drop of 300 pips Sharp March 1 appeared to be a depletion of that downward trend.
If there were fundamental merit or the feeling that the fall in 300 pips, Cable would have followed a downward motion.
On the other hand, falling on March 1, created the first solid support of the couple has been building over the past two weeks.
When he tried to test cable support, fell by almost perfect Fibonacci 88.6% from March 10 before recovering again .
So when the cable side ?
Obviously, I’m building a bullish case for cable. I see a Wave 3 training, which should exceed the size of wave 1 and therefore an opportunity to buy on dips .
Who sits at a key resistance at the time of writing so careful to jump far. It could easily go back and start a range.
But there is strong support for the continuation of the long route plan.
The extent of 61.8% of wave 1 of the bottom of Wave 2 gives a target of 1.5460, which is also near the 38.2% regression of the broader trend XY.
Be prepared to let your profits run this, as there are key points later in 1.5830 Fibonacci .
This content is provided by Dailyforex, Online Forex Portal .
Source Original Content: Key dek day of the main pair
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Report Monday 15 March Today
March 15, 2010 by Forex news
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Open the report Monday outlining that European stock markets opened to the pressure losses in mining stocks on weak metal prices on concerns about monetary tightening in China .
The weakness of European stocks showed declines in China, who accused the concerns about possible monetary tightening by Beijing to combat inflación.Anglo American, Kazakhmys, BHP Billiton, Xstrata and Rio Tinto fell between 0 , 5 percent and 1.1 percent .
It should be noted that the preoccupation with China would impact the prices of raw materials. To this day we will have data from the USA to parit 13gmt like the Capital Flow and Industrial Production mm .
EURO :
The EUR / USD (euro / dollar) is exchanged for 1.3720 dollars per euro, ranging between 1.3713 and 1.3774, below yesterday’s close at 1.3773 .
The traders have in mind for the next few days the maximum prices resistors known as: 1.3700, 1.3750, and 1.3800 .
With respect to minimum prices known as the supports are: 1.3700, 1.3650 and 1.3600 .
If the pair are waiting Euro Dollar downtrends gmt temporarily leaving at 9am the following signs :
As a first option positions below 1.3800 for 1.3705 and 1.3650 reach. As a second option positions above 1.3800 for 1.3835 and 1.3888 to reach .
* Trends vary periodically due to the economic news coming out constantly in the economic calendar .
JAPANESE YEN
The USD / JPY (dollar / yen) is exchanged for 90,695 yen per dollar, ranging between 90,563 in the day. and 90,795, down from yesterday’s closing price at 90,698 .
The traders have in mind for the next few days the maximum prices known as the resistance of 90.00, 90.50 and 91.00 .
With respect to minimum prices known as the media have 90.00, 89.50 and 89.00 .
In the case of the yen dollar pair, we expect upward trends at 9am gmt temporarily leaving us with the following signs :
As a first option positions above for reach 90.20 and 91.10 to 90.85. As a second option below the 90.20 positions for reaching 89.95 and 89.65 .
* Trends vary periodically due to the economic news coming out constantly in the economic calendar .
POUND STERLING
:
The GBP / USD (British pound against the dollar) is exchanged for 1.5046 dollars per pound, varying between 1.5044 and 1.5207, up from yesterday’s close at 1.5194 .
The traders have in mind for the next few days the maximum prices resistors known as: 1.5200, 1.5250 and 1.5300 .
With respect to minimum prices known as the media have 1.5200, 1.5150 and 1.5100 .
With respect to the pair Pound U.S. dollars are waiting downtrends, temporarily leaving at 9am GMT with the following signs :
As a first option positions below 1.5215 for 1.5075 and 1.5025 to reach .
The second option positions above 1.5215 for 1.5270 and 1.5325 to reach .
* Trends vary periodically due to the economic news coming out constantly in the economic calendar .
Source: David Tesone
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Tension between the U.S. and China is the dollar
March 15, 2010 by Forex news
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On the first day of the week, we see as the greenback advanced to senior positions majors after increasing political tensions between the U.S. and China. Recall that a few days ago, Prime Minister Wen Jiabao defended the valuation of the Yuan and stressed that the stability of its currency is a key factor contributing to the recovery of the global economy. Across the ocean, the U.S. president, Barack Obama, has expressed discomfort over the valuation of currency, informing that the renminbi rises weaken the competitiveness of the dollar in international trade, benefiting the export sector of the giant Asia. However, the greenback’s gains were tempered by concerns about the U.S. rating, after learning about an article in the newspaper “Financial Times” that Moody’s would be to announce a cut in its credit rating unless consolidate public finances more than expected by the Obama administration.
Among other things, gave sterling positions against the euro, the dollar and yen on prospects of a weakening of Gross Domestic Product (GDP) and after increasing fiscal risks in the UK.
At the macroeconomic level, we learned that the housing price index from Rightmove UK stood at 5.3% annualized rate, while in the month was 0.1%. Although keep in positive territory, the data was below the results of the previous month. In Japan, February Consumer confidence has been better than estimated, while in the Eurozone, the Employment Exchange recorded a contraction of 1.8% in the last quarter of 2009, reflecting a recovery of 0.3% Compared to the previous quarter.
For the next few hours, the eyes will be on the Empire manufacturing index for New York Estate and Net TIC Flows and Industrial Production in the U.S., while in Canada, the highlight will be the sale of new vehicles in January.
On the stock market, the main indicators of the Asian region closed lower on the day today at the prospect that China will adjust its monetary policy to cool the economy. In Europe, the selective operating in the old red continent disclosed that Moody’s may cut credit rating to the U.S. and UK. On Wall Street U.S. futures predict a session start to fall.
With regard to raw materials, a barrel of West Texas Oil (WTI) traded at 80.92 dollars in the Chamber of Commerce of New York (NYMEX). Since the beginning of session, the black gold is depreciated 0.8% so far, recording a session low at 80.45 dollars. Mindful that at the moment, oil is consolidated in 50% of the short movement carried out between 81.21 and 80.45, an area that in the case of overcoming it would boost the commodity to the target of 81.00 dollars. A low, considering the support is at 80.80 dollars.
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News Radio Forex.Net
March 15, 2010 by Forex news
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15/03/2010
BAG – The Europeans were still betting marked by moderate losses at midday, after closing mixed Asians .
INSURANCE – The German insurer Allianz warned that demographic change has come into the labor market in 2010 because fewer people will begin to work than those who retire .
OIL – The benchmark crude OPEC remained unchanged on Friday, trading at $ 77.74 a barrel, two cents less than at the previous meeting .
– A barrel of Brent crude for May delivery traded in London at $ 79, $ 0.39 less On Friday .
MOTOR – The Japanese groups Toyota, Nissan, Mitsubishi and Subaru will partner to promote the creation of recharge points for electric cars worldwide .
CURRENCY – The euro market opened steady at Frankfurt European currency, which was changed to $ 1.3752 .
CRISIS – The French Finance Minister Christine Lagarde, blamed Germany imbalances in the euro area, told the Financial Times “.
– Germany insisted that “at present” does not concern a plan of economic aid to Greece and therefore will not be fixed during the meeting Finance ministers of the Eurogroup .
– European ministers discussed the evolution of the budget crisis in Greece and seek to agree an emergency mechanism to help that country to avoid bankruptcy .
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