Daily Forex Analysis

Read the Daily Forex Trading Analysis Overnight Asia/Europe • USD mixed • Quiet Technical trade • Traders note volumes light with no major news Today’s Economic Reports All times EASTERN (-5 GMT) • 10:00am USD Leading Index m/m Almost no data anywhere so expect technical trade all day to start the week. Looking Ahead to Tuesday All times EASTERN (-5 GMT) • 8:10am USD Treasury Sec Paulson Speaks • 8:30am USD FOMC Member Plosser Speaks • 10:00am USD House Price Index m/m • 10:00am USD Richmond Manufacturing Index Summary The USD is mixed to start New York after a generally quiet overnight start to the week. Holding inside existing ranges on thinner v…

Read The Daily Forex Analysis Today’s US Dollar Trading • USD two-way, holds ranges • Traders report light volumes on the drop • Late selling drops USD lower Overnight Preview • USD likely to have two-way action overnight • Should get quiet ahead of US data in the morning Looking Ahead to Thursday All times EASTERN (-5 GMT) • 8:30am USD Unemployment Claims • 10:00am USD Philadelphia Fed Manufacturing Index • 10:00am USD Leading Index m/m • 10:35am USD Natural Gas Storage Big day for news across the board; expect some potential whipsaw. Summary Despite a falling Oil market and a weak Gold market today, the USD was unable to extend gains again …

Read the Daily Forex Trading Analysis Overnight Asia/Europe • USD starts firm in Asia, weakens into New York • Light volumes give traders caution • Sovereigns on the offer in GBP and EURO Today’s Economic Reports All times EASTERN (-5 GMT) • 8:10am USD Treasury Sec Paulson Speaks • 8:30am USD FOMC Member Plosser Speaks • 10:00am USD House Price Index m/m • 10:00am USD Richmond Manufacturing Index Almost no data anywhere so expect technical trade all day to start the week Looking Ahead to Wednesday All times EASTERN (-5 GMT) • 10:35am USD Crude Oil Inventories • 2:00pm USD Beige Book Continuing the slow start for US data this week. Summary The U…

Daily Forex Trading Analysis Overnight Asia/Europe • USD under pressure starting in Asia • Two-way technical trade with large names on the bid for EURO • Volumes and orders picking up a bit from last week Today’s Economic Reports All times EASTERN (-4 GMT) • 11:30am USD FOMC Member Fisher Speaks Very light day for the USA and for our trading partners; expect quiet trade. Looking Ahead to Tuesday All times EASTERN (-4 GMT) • 10:00am USD Fed Chairman Bernanke Testifies • 10:00am USD HPI m/m • 10:00am USD Richmond Manufacturing Index Summary The USD is lower to start New York this morning as traders and investors await the details of the US bailo…

Read the Daily Forex Trading Analysis Overnight Asia/Europe • USD firms a bit • Technical trade and stops drive GBP and EURO • Volumes moderate Today’s Economic Reports All times EASTERN (-5 GMT) • None for the day Expect technical trade for the most part Looking Ahead All times EASTERN (-5 GMT) • 9:00am USD National HPI Composite-20 • 10:00am USD Consumer Confidence • 10:00am USD House Price Index m/m • 10:00am USD Richmond Fed Index Summary The USD is two-way overnight but starts the New York session on the offensive. Still range-bound against Swissy and Yen, the Greenback has recovered some of the losses from late last week. After starting firm …

Daily Forex Trading analysis Today’s US Dollar Trading • USD reverses higher after a lower open in New York • Traders note stops and liquidation off the lows • USD/JPY flirts with close above the 200 bar MA Overnight Preview • Look for the USD to consolidate • Two-way action ahead of minor news tomorrow Looking Ahead to Wednesday All times EASTERN (-5 GMT) • 10:35am USD Crude Oil Inventories • 2:00pm USD Beige Book Continuing the slow start for US data this week. Summary After a low-volume sell-off this morning to trade at the worst levels of the day the USD rallied back hard to run stops and squeeze shorts all day into the close. Traders note that …

Read the Daily Analysis Today’s US Dollar Trading • USD goes one way, biggest daily loss in years • Stops and active selling seen • Volumes better later in the day Overnight Preview • Look for follow-on selling • Likely a quieter night as many are sidelined Looking Ahead to Tuesday All times EASTERN (-4 GMT) • 10:00am USD Fed Chairman Bernanke Testifies • 10:00am USD HPI m/m • 10:00am USD Richmond Manufacturing Index Summary The USD bulls got their horns sawed off today as the Greenback is set to have its worst one-day loss since 2001; traders note that ongoing uncertainty with the US bailout of the banking sector, weaker equities in respons…

Daily Forex Trading Analysis Today’s US Dollar Trading • USD holds gains but flows light • S/R holds as expected • Speculation that the Fed will not move rates capping the USD Overnight Preview • Consolidation likely • Two-way action with a downside bias Looking Ahead to Tuesday All times EASTERN (-5 GMT) • 9:00am USD National HPI Composite-20 • 10:00am USD Consumer Confidence • 10:00am USD House Price Index m/m • 10:00am USD Richmond Fed Index Summary The USD is firmer but falling off the highs for the day as the volumes are drying up into the New York close. Traders note that across the board the USD remained inside established ranges to start the…

Read the Daily Forex Trading Analysis Today’s US Dollar Trading • USD regains poise after early break • Oil and equities help the upside • Volumes moderate Overnight Preview • Expect two-way action • USD to consolidate Looking Ahead to Thursday All times EASTERN (-5 GMT) • 8:30am USD Unemployment Claims • 10:00am USD Existing Home Sales • 10:00am USD FOMC Member Geithner Speaks • 10:35am USD Natural Gas Storage Summary After a slide overnight against GBP and EURO the USD rallied back in late US trade to regain some territory after oil continued to slide and equities put on some weight. The Greenback is at better levels against all the majors th…

Daily Forex Trading Analysis Today’s US Dollar Trading • USD rallies in US trade after starting weaker in Asia • Two way technical trade the rule today • Traders note volumes were moderate Overnight Preview • Look for more consolidation • Two-way action likely Looking Ahead to Wednesday All times EASTERN (-4 GMT) • 10:00am USD Existing Home Sales • 10:00am USD Fed Chairman Bernanke Testifies • 10:35am USD Crude Oil Inventories • 2:30pm USD Fed Chairman Bernanke Testifies Summary The USD is slightly better today as traders continue to digest the effects and solutions to the recent financial crisis affecting global trade. Debate is ragin…

Read the Daily Forex Trading Analysis Today’s US Dollar Trading • USD two-way all day • Starts on the offensive—ends on the defensive • GBP and EURO at technical resistance. Overnight Preview • Look for a quiet evening ahead of FOMC Looking Ahead All times EASTERN (-5 GMT) • 8:30am USD Core Durable Goods Orders m/m • 8:30am USD Durable Goods Orders m/m • 10:00am USD New Home Sales • 10:30am USD Crude Oil Inventories • 2:15pm USD FOMC Statement • 2:15pm USD Federal Funds Rate Summary Despite a better start overnight the USD was unable to hold significant gains today after the release of disappointing US data gave traders a reason to sell the Greenba…

Read the Daily Forex Trading Analysis Overnight Asia/Europe • Japan CPI worse than expected • UK GDP drops but GBP rallies in sympathy w/EURO • Volumes lighter, SWF’s buy USD Today’s Economic Reports All times EASTERN (-5 GMT) • 8:30am USD Core Durable Goods Orders m/m • 8:30am USD Durable Goods Orders m/m • 9:55am USD Revised UoM Consumer Sentiment • 9:55am USD Revised UoM Inflation Expectations • 10:00am USD New Home Sales New Home Sales likely to drive trade. Looking Ahead to Monday All times EASTERN (-5 GMT) • 12:00pm USD FOMC Member Mishkin Speaks Very light calendar for everyone on Monday Summary The Greenback is lower this morning after fa…

Read the Daily Analysis Today’s US Dollar Trading • USD covers the same ground twice in two-way action • Volumes modest • Traders remain focused on bailout options Overnight Preview • Look for the USD to remain two-sided • Potential to rally increasing Looking Ahead to Thursday All times EASTERN (-4 GMT) • 8:30am USD Core Durable Goods Orders m/m • 8:30am USD Unemployment Claims • 8:30am USD Durable Goods Orders m/m • 10:00am USD New Home Sales • 10:35am USD Natural Gas Storage • 1:00pm USD FOMC Member Warsh Speaks • 7:30pm USD FOMC Member Fisher Speaks • 7:45pm USD FOMC Member Plosser Speaks Summary The USD is on the offensive this aftern…

Daily Forex Trading Analysis Today’s US Dollar Trading • USD whipsaws after early sideways start • US data unfriendly to the Greenback • As expected, FOMC holds rates firm Overnight Preview • USD likely to continue to weaken • EURO above resistance Looking Ahead All times EASTERN (-5 GMT) • 8:30am USD Final GDP q/q • 8:30am USD Unemployment Claims • 8:30am USD Final GDP Price Index q/q • 10:00am USD Existing Home Sales • 10:35am USD Natural Gas Storage Summary As expected the FOMC held interest rates steady and left the discount window on hold too. The statement was full of the usual “Strong Dollar” rhetoric but after the initial brief USD rally in…

Daily Forex Analysis Today’s US Dollar Trading • The USD unable to hold gains in NY • Volume a bit better than Friday, stops drive a lot of trade • Oil pushes Greenback around as do equities Overnight Preview • Look for tow-way action overnight • USD may be overextended to the upside so expect downside bias Looking Ahead to Tuesday All times EASTERN (-5 GMT) • 9:00am USD S&P/CS Composite-20 HPI y/y • 10:00am USD Consumer Confidence Index • 10:00am USD New Home Sales • 10:00am USD HPI m/m • 10:00am USD Richmond Manufacturing Index • 2:00pm USD FOMC Meeting Minutes Summary The USD is weaker against the majors to end New York after starting…

Daily Forex Analysis Pattern Main Trend: Up Main Trend Top: None Main Trend Bottom: 1.5283 (05-08-08) Current Pattern: Reversal Top 1.5814 (05-22-08) Price 1.6019 Main Top (04-22-08) 1.5894 Gann Angle Down 1.5814 Closing Price Reversal Top (05-22-08) 1.5769* Gann Angle Down 1.5771 New York Close 1.5803* Gann Angle Up 1.5549 50% Retracement 1.5543 Gann Angle Up 1.5486 .618 Retracement Time 05-23 180 Day Cycle 06-03 180 Day Cycle 06-05 Anniversary Date Top (06-05-07) Analysis The Main Trend is up. The closing price reversal top at 1.5814 on 04-22 has not been negated…

Read the Daily Forex Trading Analysis Today’s US Dollar Trading • USD gets hammered • US data ignored in favor of rising Oil • Equities pressure USD/JPY Overnight Preview • Look for continued weakness • USD likely to fall overnight Looking Ahead to Friday All times EASTERN (-5 GMT) • 8:30am USD Core PCE Price Index m/m • 8:30am USD Personal Spending m/m • 8:30am USD Personal Income m/m • 9:55am USD Revised Michigan Sentiment Summary The Greenback got hammered today as panic hit the equities markets; Crude Oil passes the $140.00/BBL mark and makes a record close. In my view, this is exactly what the USD needs to reach back into new 2008 lows. If you …

Read the Daily Forex Analysis Today’s US Dollar Trading • USD fails to extend overnight strength • Volumes better • Stops close-in result in two-way action Overnight Preview • Look for more two-way action • USD is getting “tired” I think Looking Ahead to Wednesday All times EASTERN (-4 GMT) • 8:30am USD Core Durable Goods Orders m/m • 8:30am USD Durable Goods Orders m/m • 10:35am USD Crude Oil Inventories Summary To finish today the USD is off its highs against all pairs but still in positive territory against EURO and GBP; Forex traders note that volumes were better today but that might have been due to Oil’s wild ride pulling in smaller day-t…

Read the Daily Forex Trading Analysis Today’s US Dollar Trading • USD starts slow; makes a show for strength in NY • US data mixed and of little help • Traders await more tomorrow Overnight Preview • Look for a rally in the USD overnight • Lack of downside follow-on selling seen Looking Ahead All times EASTERN (-5 GMT) • 8:30am USD Core Durable Goods Orders m/m -0.4% • 8:30am USD Durable Goods Orders m/m -1.5% • 9:00pm USD Dallas Fed President Fisher Speaks • 12:50pm USD Minneapolis Fed President Stern Speaks Summary The USD enjoyed a day of higher pricing but failed to break into any new areas of S/R against the majors. For the most part the Gr…

Read the Daily Forex Trading Analysis Overnight Asia/Europe • Volumes lighter and ranges tighter • Russians buy EURO, Swiss buy & Sell • Technical action dominates Today’s Economic Reports All times EASTERN (-5 GMT) • 12:00pm USD FOMC Member Mishkin Speaks Very light calendar for everyone on Monday Looking Ahead to Tuesday All times EASTERN (-5 GMT) • 9:00am USD S&P/CS HPI Composite-20 y/y • 10:00am USD Consumer Confidence Index Summary The USD is mixed to start the week in light trade; volumes have been thin and traders report a lot of technical trading. The Greenback managed to score a new one-month high against the Yen in Asian dealings ai…

Forex Trading Analysis Today’s US Dollar Trading • USD whipsaws with conflicting data • Traders note volumes thin again • US data inconclusive Overnight Preview • Look for more two-way action • Should get quiet ahead of US data in the morning Looking Ahead to Thursday All times EASTERN (-4 GMT) • 8:30am USD Prelim GDP q/q • 8:30am USD Unemployment Claims • 8:30am USD Prelim GDP Price Index q/q • 10:35am USD Natural Gas Storage Big day for news with our trading partners, expect some whipsaw. Summary The Greenback suffered another day of whipsaw today failing to extend recent ranges in thin trade. For the most part, USD traders are looking ahea…

Here's Our Daily Forex Analysis Today’s US Dollar Trading • USD starts lower in Asia, rallies in Europe • Rallies on Durables data then fades • Ends New York Mixed Overnight Preview • Look for the USD to continue under pressure ahead of GDP tomorrow • Volumes should drop off also Looking Ahead All times EASTERN (-5 GMT) • 8:30am USD Prelim GDP q/q 0.9% • 8:30am USD Prelim GDP Price Index q/q 2.6% • 8:30am USD Unemployment Claims 370K • 10:30am USD Crude Oil Inventories • 10:30am USD Natural Gas Storage • 2:30pm USD Fed Chairman Bernanke Speaks • 7:00pm USD Fed Vice Chairman Kohn Speaks Summary The USD ends the day mixed after a slow start in …

Today’s US Dollar Trading • Unusually quiet, little volume • Ranges hold for the most part • No real push either way with any conviction Overnight Preview • Look for more quiet action • Two-way and technical action to continue Looking Ahead to Tuesday All times EASTERN (-5 GMT) • 9:00am USD S&P/CS HPI Composite-20 y/y • 10:00am USD Consumer Confidence Index Forex Trading Summary Despite a mixed opening and solid two-way trade, none of the majors were able to extend gains against the USD today in super-light trading. Cable scored a modest new high from overnight action, as did Yen, but all the major pairs continue inside previous support or resistance…

Daily Forex Analysis Overnight Asia/Europe • USD starts firm, weakens into Europe • Stops triggered on the way down • Traders report good volume Today’s Economic Reports All times EASTERN (-5 GMT) • 9:45am USD Chicago PMI Looking Ahead to Tuesday All times EASTERN (-5 GMT) • 10:00am USD ISM Manufacturing Index • 10:00am USD ISM Manufacturing Prices • 10:00am USD Construction Spending m/m • Tentative USD Domestic Vehicle Sales Expect ISM to remain weak. Summary The USD started Asia on the defensive as most of the major pairs rallied again to new near-term highs against the Greenback; Cable and EURO finding previous resistance a bit tougher to break …

Daily Forex Trading Analysis Today’s US Dollar Trading • USD rallies hard after US news • Stops drive a lot of trade • Volumes larger Overnight Preview • Order boards wiped clean so expect consolidation • Whipsaw likely around US data in the morning Looking Ahead to Wednesday All times EASTERN (-5 GMT) • 8:15am USD ADP Nonfarm Employment Change • 10:35am USD Crude Oil Inventories ADP likely to be the big news for the day. Summary After a quiet and slow start overnight the USD rallied hard after the release of better-than-expected Consumer Confidence data to post the best levels of the month against most pairs. Although not a closely watched ind…

Read the Daily Forex Trading Analysis Today’s US Dollar Trading • USD extends range a bit • Two-way action portends more correction • Volumes moderate Overnight Preview • Look for a very quiet session overnight • Waiting on US GDP tomorrow Looking Ahead All times EASTERN (-5 GMT) • 8:30am USD Advance GDP q/q • 8:30am USD Advance GDP Price Index q/q • 8:30am USD Employment Cost Index q/q • 8:30am USD Unemployment Claims • 9:45am USD Chicago Business Barometer • 10:35am USD Natural Gas Storage • 1:00pm USD Treasury Sec Paulson Speaks Summary An uneventful day for the USD today despite the release of ADP private payroll data which came in higher-th…