Forex day tading room Friday close

Forex day trading room € The euro depreciated vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3470 level and was capped around the $1.3585 level.  The common currency failed to sustain early gains this week and was pushed lower on Friday after U.S. equities tumbled.  The U.S. Securities and Exchange Commission filed fraud charges against Goldman Sachs for its involvement in the sub-prime mortgage crisis that rocked the financial world.  Shares in Goldman Sachs finished the week down more than US$ 18 and today's news is likely to accelerate the Obama administration's calls for greater regulatory reform, particularly over derivatives.  The U.S. financial sector was doing decently following some initial first quarter earnings reports from the likes of Bank of America and JPMorgan Chase.  Kansas City Fed President Hoenig said the Fed should exit monetary policy as "delibertely as possible" and called on the Fed to "eventually" reduce its balance sheet below US$ 1 trillion.  San Francisco Fed President Yellen warned the Fed has "stepped on the gas as much as it can."  Data released in the U.S. today saw March housing starts gain 1.6% m/m and building permits climbed 7.5% m/m.  Also, mid-April University of Michigan consumer sentiment fell back to 69.5 from the prior reding of 73.6.  In eurozone news, traders are closely monitoring the situation involving the Icelandic volcano that erupted this week for the first time in nearly two centuries.  The volcano has prompted the cancellation of a significant number of flights across Europe and is having a negative impact on cross-border business. Eurozone finance ministers are said to have ordered Greece to prepare to tap its credit facility with the European Union and the International Monetary Fund.  European Central Bank member Stark said he is skeptical about IMF loans to Greece and str [...]

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S&P500 day trading course weekly set up

S&P500 day trading course weekly set up. We are looking at a 240 min S&P500 emini futures day trading chart with levels of support and resistance. [caption id="attachment_2187" align="alignleft" width="171" caption="S&P500 day trading course "][/caption] We are looking at resistance at 1211-3 mark.  Goldman Sachs news hit and executed on what was a very low volume Head and shoulders on the hourly chart. We have completed the move down and now am looking for a retracement to 50 or 61% for an ambush on the next leg down. We have touched the supporting trend line at 1182.50 on the four hour chart, in order to keep this upward trend in tact we will have to break above the 1198.75 resistance. If this resistance holds we could be looking at a Head and Shoulder pattern on the 4 hour chart with the formation of the right shoulder off of 1197-99. Look for a downside target in the 1169-72 area. If we settle above the 1198 area and gain some commitment, with buyers buying, we could be looking at a test back up to the neckline of the previous Head and shoulders and  some consolidation in this area. [caption id="attachment_2188" align="alignleft" width="171" caption="S&P500 day trading course 240 short Head and shoulders"][...]

S&P 500 day trading course

Forex day trading room Europe

Forex day trading room. The ash cloud spreading over northern Europe is a clear reminder that one EU nations problems will eventually plague the rest. We are steering clear of extrapolating the effect on the GDP, since extreme weather related effect are generally exaggerated. However, the rumor mill has been swirling that Greece's schedule meeting with EU and IMF officials over the next few days will lead to the deployment of aid. In early European trading, the EUR has picked up a slightly bullish tone after being sold in Asia. Traders will be keeping one eye on developments surrounding Greece and the other on German elections. It's important to point out that Greece has capital to cover this month's bond redemptions and is moving ahead with its US road show (which suggest pre-marketing was successful). So, the concern is longer term funding issue. The current markets rate for Greece paper is unsustainable for continued borrowing, despite the recent pullback in yields, which means that Greece will have to turn to subsidized lending from the EU / IMF. Given the logistical issues before any capital can be distributed, including legal challenges and the fact that many countries just don't have the cash on hand, there will be a significant lag from requesting to distribution. Greece has a choice whether they can wait till all issues have been cleared or request the bailout now giving EU nations time to prepare. Since the IMF will be in Athens on Monday, Greek officials will be able to sort out issues such as lending rates and how harsh austerity might be and, in our opinion, highly increasing the probability that the EU / IMF bailout is called in. The knee-jerk reaction should be EUR positive as the short term sentiment relief should put pressure on the markets extreme short positioning. The sterling came under selling pressure as yesterday's first ever televised election debate between the three hopeful leaders re-introduced the promise of a "hung" Pa [...]

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