€ The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3710 level and was supported around the $1.3620 level. Dealers lifted the common currency during the North American session but the pair remains on a downward trajectory, having traded on Friday at its lowest level since May 2009. PIMCO's El-Erian today reported the global bond giant prefers German government bonds over U.S. Treasuries. This statement highlights the drastic reassessment of sovereign risk the markets are currently undertaking. Eurozone debt remains highly volatile and Greek 10-year paper is currently trading more than 400 bps wider than German 10-year paper. The debt situations in Portugal, Spain, and Ireland are also causing the euro some weakness. Dealers are currently focusing on the likelihood the International Monetary Fund will need to bail out Greece and perhaps some other European countries if they cannot manage their debt crises themselves. Group of Seven officials finance ministers and central bankers convened in Canada this weekend and indicated they would continue their fiscal stimuli to prop the slumping global economy. Some central banks, however, are unwinding their stimulus programs at the same time. Many G7-watchers were unimpressed with the meeting as it failed to provide any significant new details about the level of international support Greece and other aggrieved countries can expect if bailouts are required. Spain today announced it will reduce net debt issuance by 34% in 2010 in a bid to remove public debt. Deutsche Bank today revised its forecast for official European Central Bank interest rates hikes and now sees the main refinancing rate at 1.5% by the end of the year, down from the previous forecast of 2.0%. ECB's Nowotny said every eurozone country needs to respect the bloc's fiscal rules and said new financial regulations must not harm economic [...]
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Tuesday, February 9, 2010
S&P 500 Emini Day Trading Gap Wednesday February 10, 2010
S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2023" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Wednesday February 10, 2010"]
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S&P 500 day trading course
[/caption] S&P 500 day trading course
Forex trading Greek support brings EURUSD up dollar weakens.
Forex day trading course watching as Overbought dollar finally makes a turn. If we move above the 1.3880 mark we could start our journey to normal fib retracements. [caption id="attachment_404" align="alignleft" width="215" caption="forex trading system targets"]
[/caption] News is really driving the market, watch your self. Resistance at 1.3830-40 area. Could be a sharp reversal as we hit first support at 1.3775 Approaching the resistant trend line on this bearish channel.looking for a move back to the 1.3816-25 area and if it can't commit for a move up then looking for a double bottom or 76% retrace of the move up. FX markets were choppy in the Asian session, with risk appetite see-sawing. The day started with a risk off tone, as Wall Street plunged due to speculation that FOMC Chairman Bernanke could indicate tightening when he testifies in the House on unwinding Fed liquidity programs this week. The USDJPY fell to 89.20, but failed to pierce daily cloud support at 89.02. The AUDUSD opened at 0.8640 and slipped 0.8616, as China press denied the much celebrated Australia-China coal deal reported yesterday. However, as Asia went to lunch it was reported that European Central Bank President Trichet is prematurely leaving a meeting of central bankers in Sydney to attend a European Council meeting scheduled for Thursday. European Council is holding an informal meeting of officials and Greek members are expecting to come under some heavy fire. The EURUSD traded up to 1.3742 on the first news that officials are recognizing the severity of t [...]
Forex trading - live day trading course and currency trade room.
[/caption] News is really driving the market, watch your self. Resistance at 1.3830-40 area. Could be a sharp reversal as we hit first support at 1.3775 Approaching the resistant trend line on this bearish channel.looking for a move back to the 1.3816-25 area and if it can't commit for a move up then looking for a double bottom or 76% retrace of the move up. FX markets were choppy in the Asian session, with risk appetite see-sawing. The day started with a risk off tone, as Wall Street plunged due to speculation that FOMC Chairman Bernanke could indicate tightening when he testifies in the House on unwinding Fed liquidity programs this week. The USDJPY fell to 89.20, but failed to pierce daily cloud support at 89.02. The AUDUSD opened at 0.8640 and slipped 0.8616, as China press denied the much celebrated Australia-China coal deal reported yesterday. However, as Asia went to lunch it was reported that European Central Bank President Trichet is prematurely leaving a meeting of central bankers in Sydney to attend a European Council meeting scheduled for Thursday. European Council is holding an informal meeting of officials and Greek members are expecting to come under some heavy fire. The EURUSD traded up to 1.3742 on the first news that officials are recognizing the severity of t [...] Forex trading - live day trading course and currency trade room.
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