forex trading course - EURUSD dollar strength 2 days in a row

The USD has climbed for a second consecutive day as negative sentiment continued to weigh heavy on risk appetite. Equity markets in Europe have struggled, and after EURUSD broke through downside support at 1.4250 overnight, the pair has continued to trade heavily, touching lows of 1.4126. In parallel, gold has broke through its near term support level of $1130 to trade down to $1120.45, but we expect prior buying interest at $1119 to provide some respite to the sell-off. [caption id="attachment_343" align="alignleft" width="202" caption="Forex trading course jan 20 dollar strength"][/caption] During the morning session, the UK ILO unemployment rate surprisingly fell to 7.8% (exp: 8.0%, prev: 7.9%), but the GBP failed to find much buying interest on this news. Also released were the minutes of the recent BoE meeting; as expected, there was a unanimous 9-0 vote to keep rates on hold and maintain the asset purchase target at GBP200bn. Furthermore, the statement explained that recent developments had not substantially changed the BoE's view on the medium term outlook, and instead, they would wait until the release of the February Inflation Report to get a clearer assessment of the factors affecting the economy. During the afternoon, Canadian CPI disappointed at -0.3% MoM (-0.1% expected, 0.5% prior), forcing USDCAD to push through 1.0450 resistance, touching a high of 1.0487. US housing starts and building permits were mixed on the whole, but the net result has seen further USD buying into the USequity market open. Tomorro [...]

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S&P 500 Day Trading Course Gap For Jan 20, 2010 Learn How to Trade

Up Up and Away today! Prices began trading today at 1131.50, down a 10.5 point drop through the long weekend. Prices quickly hit the low of 1130.50 and took off running to the upside, climbing 16.5 points through the day to a high of 1147.00 where prices were met again with resistance. Futures closed the day at 1146.25 after a very buyer dominated day.

With prices again in the 1147.00 area we are watching for a breakthrough of resistance, if buyer volume holds and push prices through we could be looking at a move up into the 1160's, if resistance holds prices could retest the 1144 and 1140 levels with another retest of 1135.00 as the next stop down from there.

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Forex trading - EURUSD dollar strenght live trading room Jan 19

The USD has made gains against its major counterparts today as risk appetite was burdened by poor economic news and a dovish BoC statement. The headline event of the European morning was UK CPI which surged an alarming 0.6% MoM, 2.9% YoY in December; up from last month's 0.3% MoM, 1.9% YoY rise. Although potentially suggesting higher borrowing costs may have to be implemented to ward off an overshoot in inflation, the spike is in line with the BoE's forecasts in the Quarterly Inflation Report last November; and according to the path predicted in that scenario, inflation is expected to fall back towards target in the coming months. GBPUSD, which has rebounded strongly from its 1.5833 lows on 30th Dec, surged to 1.6459 after the release, but the rally failed to gather much momentum and the pair subsequently succumbed to the bout of USD strength, touching a low of 1.6313 before recovering somewhat to 1.6370 levels. The other major release of the morning session was Germany's ZEW survey, which showed investor sentiment fell more than expected in January to 47.4 (49.5 expected, 50.4 prior), causing EURUSD to slump below its 200 day moving average (around 1.4293), touching lows of 1.4262. So far, the major support of 1.4250 remains intact, but a closing break below there would open up further downside to 1.4000 levels. [caption id="attachment_339" align="alignleft" width="202" caption="Forex trading jan 19 weekly bear flag"][/caption] Looking for a move to 1.38 the 1.35 area with in the month. During the afternoon session, the markets awaited the latest BoC rate meeting, and as expec [...]

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