Action Forex

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• Daily technical outlook
• EU summit brings little progress; Greek PSI deal possible by week’s end
• EURUSD rebounded from 1.3077
• Atypical Weather Trims Consumer Spending and GDP in 2011:Q4
• EU summit brings little progress; Greek PSI deal possible by week’s end
• EURUSD rebounded from 1.3077
• Atypical Weather Trims Consumer Spending and GDP in 2011:Q4
• Daily technical outlook
• EU summit brings little progress; Greek PSI deal possible by week’s end
• EURUSD rebounded from 1.3077

Daily technical outlook Posted: 31 Jan 2012 02:52 PM PST The trouble with normal is it always gets worse. ~ Bruce Cockburn Good morning. Euro trades lower today, before European leaders meet in Brussels to discuss the region's debt crisis and sign off a permanent rescue fund for the eurozone. Here's a couple of charts to start the week with: USD Index Former support around 79.50 is now providing the first resistance level, so it's a good idea to keep an eye

EU summit brings little progress; Greek PSI deal possible by week’s end Posted: 31 Jan 2012 02:46 PM PST As the second day of the EU summit is drawing to a close, no breakthrough in the Greek PSI negotiations can be seen. Despite the fact that officially EU leaders focus on the stimulation of growth and employment in the area, the Greek debt swap deal is a crucial issue and a important element of the combat against the debt crisis. Lack of an agreement with private creditors means no further bailout money for Athens

EURUSD rebounded from 1.3077 Posted: 31 Jan 2012 02:39 PM PST After testing the support of the upward trend line on 4-hour chart, EURUSD rebounded from 1.3077. The bounce would possibly be resumption of uptrend from 1.2624, further rise is expected later today, and next target would be at 1.3300 area. On the other side, a breakdown below 1.3077 will suggest that a cycle top has been formed at 1.3233 on 4-hour chart, then pullback towards 1.2800-1.2900 area could be seen.

Atypical Weather Trims Consumer Spending and GDP in 2011:Q4 Posted: 31 Jan 2012 02:15 PM PST Real consumer spending slipped 0.1% in December after postings in October and November. All major components – durable goods (-0.1%), nondurables (-0.1%) and services (-0.1%) – fell in December and trimmed the pace of consumer spending in the fourth quarter. The weakness in consumer outlays on services stands out in the fourth quarter (see Chart 2). Service outlays rose only at an annual rate of 0.2%, while th

EU summit brings little progress; Greek PSI deal possible by week’s end Posted: 31 Jan 2012 01:45 PM PST As the second day of the EU summit is drawing to a close, no breakthrough in the Greek PSI negotiations can be seen. Despite the fact that officially EU leaders focus on the stimulation of growth and employment in the area, the Greek debt swap deal is a crucial issue and a important element of the combat against the debt crisis. Lack of an agreement with private creditors means no further bailout money for Athens

EURUSD rebounded from 1.3077 Posted: 31 Jan 2012 01:39 PM PST After testing the support of the upward trend line on 4-hour chart, EURUSD rebounded from 1.3077. The bounce would possibly be resumption of uptrend from 1.2624, further rise is expected later today, and next target would be at 1.3300 area. On the other side, a breakdown below 1.3077 will suggest that a cycle top has been formed at 1.3233 on 4-hour chart, then pullback towards 1.2800-1.2900 area could be seen.

Atypical Weather Trims Consumer Spending and GDP in 2011:Q4 Posted: 31 Jan 2012 01:15 PM PST Real consumer spending slipped 0.1% in December after postings in October and November. All major components – durable goods (-0.1%), nondurables (-0.1%) and services (-0.1%) – fell in December and trimmed the pace of consumer spending in the fourth quarter. The weakness in consumer outlays on services stands out in the fourth quarter (see Chart 2). Service outlays rose only at an annual rate of 0.2%, while th

Daily technical outlook Posted: 31 Jan 2012 12:52 PM PST The trouble with normal is it always gets worse. ~ Bruce Cockburn Good morning. Euro trades lower today, before European leaders meet in Brussels to discuss the region's debt crisis and sign off a permanent rescue fund for the eurozone. Here's a couple of charts to start the week with: USD Index Former support around 79.50 is now providing the first resistance level, so it's a good idea to keep an eye

EU summit brings little progress; Greek PSI deal possible by week’s end Posted: 31 Jan 2012 12:46 PM PST As the second day of the EU summit is drawing to a close, no breakthrough in the Greek PSI negotiations can be seen. Despite the fact that officially EU leaders focus on the stimulation of growth and employment in the area, the Greek debt swap deal is a crucial issue and a important element of the combat against the debt crisis. Lack of an agreement with private creditors means no further bailout money for Athens

EURUSD rebounded from 1.3077 Posted: 31 Jan 2012 12:39 PM PST After testing the support of the upward trend line on 4-hour chart, EURUSD rebounded from 1.3077. The bounce would possibly be resumption of uptrend from 1.2624, further rise is expected later today, and next target would be at 1.3300 area. On the other side, a breakdown below 1.3077 will suggest that a cycle top has been formed at 1.3233 on 4-hour chart, then pullback towards 1.2800-1.2900 area could be seen.

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Action Forex

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• Daily technical outlook
• 25 of 27 EU countries approve the Fiscal Compact; Merkel delays greek deal
• AUDUSD pulled back from 1.0687
• Atypical Weather Trims Consumer Spending and GDP in 2011:Q4
• 25 of 27 EU countries approve the Fiscal Compact; Merkel delays greek deal
• AUDUSD pulled back from 1.0687
• New Home Sales Dip, Orders of Durable Goods Advanced, Jobless Claims Rose
• Daily technical outlook
• European markets fall ahead of summit; Italy 10-year yields drop to 6.8% at debt sale
• AUDUSD pulled back from 1.0687

Daily technical outlook Posted: 30 Jan 2012 02:54 PM PST The trouble with normal is it always gets worse. ~ Bruce Cockburn Good morning. Euro trades lower today, before European leaders meet in Brussels to discuss the region's debt crisis and sign off a permanent rescue fund for the eurozone. Here's a couple of charts to start the week with: USD Index Former support around 79.50 is now providing the first resistance level, so it's a good idea to keep an eye

25 of 27 EU countries approve the Fiscal Compact; Merkel delays greek deal Posted: 30 Jan 2012 02:45 PM PST The Fiscal Compact has been ratified by 25 of 27 countries across the European Union in the first economic summit of the year Monday in Brussels. The United Kingdom and the Czech Republic haven ratified the agreement according to sources. “25 member states join and will sign the fiscal compact treaty,” said Herman Van Rompuy, President of the European Council in his Twitter account. The fiscal treaty

AUDUSD pulled back from 1.0687 Posted: 30 Jan 2012 02:42 PM PST Being contained by the upper line of the price channel on 4-hour chart, AUDUSD pulled back from 1.0687, suggesting that a cycle top is being formed. Deeper decline towards the lower line of the channel would likely be seen in a couple of days. As long as the channel support holds, the fall could be treated as consolidation of uptrend from 0.9861, another rise towards 1.0900 is still possible after consolidation, a

Atypical Weather Trims Consumer Spending and GDP in 2011:Q4 Posted: 30 Jan 2012 02:15 PM PST Real consumer spending slipped 0.1% in December after postings in October and November. All major components – durable goods (-0.1%), nondurables (-0.1%) and services (-0.1%) – fell in December and trimmed the pace of consumer spending in the fourth quarter. The weakness in consumer outlays on services stands out in the fourth quarter (see Chart 2). Service outlays rose only at an annual rate of 0.2%, while th

25 of 27 EU countries approve the Fiscal Compact; Merkel delays greek deal Posted: 30 Jan 2012 01:46 PM PST The Fiscal Compact has been ratified by 25 of 27 countries across the European Union in the first economic summit of the year Monday in Brussels. The United Kingdom and the Czech Republic haven ratified the agreement according to sources. “25 member states join and will sign the fiscal compact treaty,” said Herman Van Rompuy, President of the European Council in his Twitter account. The fiscal treaty

AUDUSD pulled back from 1.0687 Posted: 30 Jan 2012 01:39 PM PST Being contained by the upper line of the price channel on 4-hour chart, AUDUSD pulled back from 1.0687, suggesting that a cycle top is being formed. Deeper decline towards the lower line of the channel would likely be seen in a couple of days. As long as the channel support holds, the fall could be treated as consolidation of uptrend from 0.9861, another rise towards 1.0900 is still possible after consolidation, a

New Home Sales Dip, Orders of Durable Goods Advanced, Jobless Claims Rose Posted: 30 Jan 2012 01:15 PM PST Sales of new single-family homes fell 2.2% to an annual rate of 307,000 in December, putting the annual average at 303,000 units. The tally of sales of new single-family homes in 2011 is the lowest on record (see Chart 1). On a quarterly basis, sales of new homes (see Chart 2) have been nearly flat for 2 years. The median price of a new single-family dropped to $ 210, 300, down sharply from a year ago. The inve

Daily technical outlook Posted: 30 Jan 2012 12:54 PM PST The trouble with normal is it always gets worse. ~ Bruce Cockburn Good morning. Euro trades lower today, before European leaders meet in Brussels to discuss the region's debt crisis and sign off a permanent rescue fund for the eurozone. Here's a couple of charts to start the week with: USD Index Former support around 79.50 is now providing the first resistance level, so it's a good idea to keep an eye

European markets fall ahead of summit; Italy 10-year yields drop to 6.8% at debt sale Posted: 30 Jan 2012 12:46 PM PST As EU leaders are arriving in Brussels for the first economic summit of the year, European stocks extend losses due to uncertainties whether  the meeting will bring viable solutions to the debt crisis in the area. The talks will center on the situation in Greece, where a PSI deal is expected to be finalized in the upcoming days. The next tranche of aid for the country cannot be released until an agreement in

AUDUSD pulled back from 1.0687 Posted: 30 Jan 2012 12:41 PM PST Being contained by the upper line of the price channel on 4-hour chart, AUDUSD pulled back from 1.0687, suggesting that a cycle top is being formed. Deeper decline towards the lower line of the channel would likely be seen in a couple of days. As long as the channel support holds, the fall could be treated as consolidation of uptrend from 0.9861, another rise towards 1.0900 is still possible after consolidation, a

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Action Forex

---

• Daily technical outlook
• Euro ends week with strong gains despite Fitch downgrade of five euro zone nations
• New Home Sales Dip, Orders of Durable Goods Advanced, Jobless Claims Rose
• Euro ends week with strong gains despite Fitch downgrade of five euro zone nations
• New Home Sales Dip, Orders of Durable Goods Advanced, Jobless Claims Rose
• Daily technical outlook
• Euro ends week with strong gains despite Fitch downgrade of five euro zone nations
• New Home Sales Dip, Orders of Durable Goods Advanced, Jobless Claims Rose
• Euro ends week with strong gains despite Fitch downgrade of five euro zone nations
• New Home Sales Dip, Orders of Durable Goods Advanced, Jobless Claims Rose

Daily technical outlook Posted: 29 Jan 2012 02:52 PM PST Good morning. Dollar's decline continues as Fed says interest rates are likely to stay near zero through late 2014. Therefore, euro, risk pairs and metals rallied big-time – as seen on the charts below. USD Index Now that support around 79.50 has been breached and the buck is testing session lows, it's not a good idea to buy dips but rather consider new selling opportunities with stops above former support z

Euro ends week with strong gains despite Fitch downgrade of five euro zone nations Posted: 29 Jan 2012 02:46 PM PST On Friday, Fitch Ratings cut the credit ratings of five euro zone nations Belgium, Cyprus, Italy, Slovenia and Spain, while affirming Ireland’s credit rating as it concluded the review of the six euro zone sovereigns it placed on Rating Watch Negative (RWN) on 16 December 2011. Fitch downgraded Italy to A minus from A+, while Spain was cut to A from AA-, both nations by 2 notches. Belgium was cut to AA from

New Home Sales Dip, Orders of Durable Goods Advanced, Jobless Claims Rose Posted: 29 Jan 2012 02:15 PM PST Sales of new single-family homes fell 2.2% to an annual rate of 307,000 in December, putting the annual average at 303,000 units. The tally of sales of new single-family homes in 2011 is the lowest on record (see Chart 1). On a quarterly basis, sales of new homes (see Chart 2) have been nearly flat for 2 years. The median price of a new single-family dropped to $ 210, 300, down sharply from a year ago. The inve

Euro ends week with strong gains despite Fitch downgrade of five euro zone nations Posted: 29 Jan 2012 01:51 PM PST On Friday, Fitch Ratings cut the credit ratings of five euro zone nations Belgium, Cyprus, Italy, Slovenia and Spain, while affirming Ireland’s credit rating as it concluded the review of the six euro zone sovereigns it placed on Rating Watch Negative (RWN) on 16 December 2011. Fitch downgraded Italy to A minus from A+, while Spain was cut to A from AA-, both nations by 2 notches. Belgium was cut to AA from

New Home Sales Dip, Orders of Durable Goods Advanced, Jobless Claims Rose Posted: 29 Jan 2012 01:17 PM PST Sales of new single-family homes fell 2.2% to an annual rate of 307,000 in December, putting the annual average at 303,000 units. The tally of sales of new single-family homes in 2011 is the lowest on record (see Chart 1). On a quarterly basis, sales of new homes (see Chart 2) have been nearly flat for 2 years. The median price of a new single-family dropped to $ 210, 300, down sharply from a year ago. The inve

Daily technical outlook Posted: 29 Jan 2012 01:01 PM PST Good morning. Dollar's decline continues as Fed says interest rates are likely to stay near zero through late 2014. Therefore, euro, risk pairs and metals rallied big-time – as seen on the charts below. USD Index Now that support around 79.50 has been breached and the buck is testing session lows, it's not a good idea to buy dips but rather consider new selling opportunities with stops above former support z

Euro ends week with strong gains despite Fitch downgrade of five euro zone nations Posted: 29 Jan 2012 12:46 PM PST On Friday, Fitch Ratings cut the credit ratings of five euro zone nations Belgium, Cyprus, Italy, Slovenia and Spain, while affirming Ireland’s credit rating as it concluded the review of the six euro zone sovereigns it placed on Rating Watch Negative (RWN) on 16 December 2011. Fitch downgraded Italy to A minus from A+, while Spain was cut to A from AA-, both nations by 2 notches. Belgium was cut to AA from

New Home Sales Dip, Orders of Durable Goods Advanced, Jobless Claims Rose Posted: 29 Jan 2012 12:16 PM PST Sales of new single-family homes fell 2.2% to an annual rate of 307,000 in December, putting the annual average at 303,000 units. The tally of sales of new single-family homes in 2011 is the lowest on record (see Chart 1). On a quarterly basis, sales of new homes (see Chart 2) have been nearly flat for 2 years. The median price of a new single-family dropped to $ 210, 300, down sharply from a year ago. The inve

Euro ends week with strong gains despite Fitch downgrade of five euro zone nations Posted: 29 Jan 2012 11:46 AM PST On Friday, Fitch Ratings cut the credit ratings of five euro zone nations Belgium, Cyprus, Italy, Slovenia and Spain, while affirming Ireland’s credit rating as it concluded the review of the six euro zone sovereigns it placed on Rating Watch Negative (RWN) on 16 December 2011. Fitch downgraded Italy to A minus from A+, while Spain was cut to A from AA-, both nations by 2 notches. Belgium was cut to AA from

New Home Sales Dip, Orders of Durable Goods Advanced, Jobless Claims Rose Posted: 29 Jan 2012 11:15 AM PST Sales of new single-family homes fell 2.2% to an annual rate of 307,000 in December, putting the annual average at 303,000 units. The tally of sales of new single-family homes in 2011 is the lowest on record (see Chart 1). On a quarterly basis, sales of new homes (see Chart 2) have been nearly flat for 2 years. The median price of a new single-family dropped to $ 210, 300, down sharply from a year ago. The inve

You are subscribed to email updates from Action Forex To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
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Action Forex

---

• Daily technical outlook
• Euro ends week with strong gains despite Fitch downgrade of five euro zone nations
• New Home Sales Dip, Orders of Durable Goods Advanced, Jobless Claims Rose
• Euro ends week with strong gains despite Fitch downgrade of five euro zone nations
• New Home Sales Dip, Orders of Durable Goods Advanced, Jobless Claims Rose
• Daily technical outlook
• Euro ends week with strong gains despite Fitch downgrade of five euro zone nations
• New Home Sales Dip, Orders of Durable Goods Advanced, Jobless Claims Rose
• Euro ends week with strong gains despite Fitch downgrade of five euro zone nations
• New Home Sales Dip, Orders of Durable Goods Advanced, Jobless Claims Rose

Daily technical outlook Posted: 28 Jan 2012 02:54 PM PST Good morning. Dollar's decline continues as Fed says interest rates are likely to stay near zero through late 2014. Therefore, euro, risk pairs and metals rallied big-time – as seen on the charts below. USD Index Now that support around 79.50 has been breached and the buck is testing session lows, it's not a good idea to buy dips but rather consider new selling opportunities with stops above former support z

Euro ends week with strong gains despite Fitch downgrade of five euro zone nations Posted: 28 Jan 2012 02:45 PM PST On Friday, Fitch Ratings cut the credit ratings of five euro zone nations Belgium, Cyprus, Italy, Slovenia and Spain, while affirming Ireland’s credit rating as it concluded the review of the six euro zone sovereigns it placed on Rating Watch Negative (RWN) on 16 December 2011. Fitch downgraded Italy to A minus from A+, while Spain was cut to A from AA-, both nations by 2 notches. Belgium was cut to AA from

New Home Sales Dip, Orders of Durable Goods Advanced, Jobless Claims Rose Posted: 28 Jan 2012 02:16 PM PST Sales of new single-family homes fell 2.2% to an annual rate of 307,000 in December, putting the annual average at 303,000 units. The tally of sales of new single-family homes in 2011 is the lowest on record (see Chart 1). On a quarterly basis, sales of new homes (see Chart 2) have been nearly flat for 2 years. The median price of a new single-family dropped to $ 210, 300, down sharply from a year ago. The inve

Euro ends week with strong gains despite Fitch downgrade of five euro zone nations Posted: 28 Jan 2012 01:46 PM PST On Friday, Fitch Ratings cut the credit ratings of five euro zone nations Belgium, Cyprus, Italy, Slovenia and Spain, while affirming Ireland’s credit rating as it concluded the review of the six euro zone sovereigns it placed on Rating Watch Negative (RWN) on 16 December 2011. Fitch downgraded Italy to A minus from A+, while Spain was cut to A from AA-, both nations by 2 notches. Belgium was cut to AA from

New Home Sales Dip, Orders of Durable Goods Advanced, Jobless Claims Rose Posted: 28 Jan 2012 01:16 PM PST Sales of new single-family homes fell 2.2% to an annual rate of 307,000 in December, putting the annual average at 303,000 units. The tally of sales of new single-family homes in 2011 is the lowest on record (see Chart 1). On a quarterly basis, sales of new homes (see Chart 2) have been nearly flat for 2 years. The median price of a new single-family dropped to $ 210, 300, down sharply from a year ago. The inve

Daily technical outlook Posted: 28 Jan 2012 12:52 PM PST Good morning. Dollar's decline continues as Fed says interest rates are likely to stay near zero through late 2014. Therefore, euro, risk pairs and metals rallied big-time – as seen on the charts below. USD Index Now that support around 79.50 has been breached and the buck is testing session lows, it's not a good idea to buy dips but rather consider new selling opportunities with stops above former support z

Euro ends week with strong gains despite Fitch downgrade of five euro zone nations Posted: 28 Jan 2012 12:47 PM PST On Friday, Fitch Ratings cut the credit ratings of five euro zone nations Belgium, Cyprus, Italy, Slovenia and Spain, while affirming Ireland’s credit rating as it concluded the review of the six euro zone sovereigns it placed on Rating Watch Negative (RWN) on 16 December 2011. Fitch downgraded Italy to A minus from A+, while Spain was cut to A from AA-, both nations by 2 notches. Belgium was cut to AA from

New Home Sales Dip, Orders of Durable Goods Advanced, Jobless Claims Rose Posted: 28 Jan 2012 12:16 PM PST Sales of new single-family homes fell 2.2% to an annual rate of 307,000 in December, putting the annual average at 303,000 units. The tally of sales of new single-family homes in 2011 is the lowest on record (see Chart 1). On a quarterly basis, sales of new homes (see Chart 2) have been nearly flat for 2 years. The median price of a new single-family dropped to $ 210, 300, down sharply from a year ago. The inve

Euro ends week with strong gains despite Fitch downgrade of five euro zone nations Posted: 28 Jan 2012 11:45 AM PST On Friday, Fitch Ratings cut the credit ratings of five euro zone nations Belgium, Cyprus, Italy, Slovenia and Spain, while affirming Ireland’s credit rating as it concluded the review of the six euro zone sovereigns it placed on Rating Watch Negative (RWN) on 16 December 2011. Fitch downgraded Italy to A minus from A+, while Spain was cut to A from AA-, both nations by 2 notches. Belgium was cut to AA from

New Home Sales Dip, Orders of Durable Goods Advanced, Jobless Claims Rose Posted: 28 Jan 2012 11:15 AM PST Sales of new single-family homes fell 2.2% to an annual rate of 307,000 in December, putting the annual average at 303,000 units. The tally of sales of new single-family homes in 2011 is the lowest on record (see Chart 1). On a quarterly basis, sales of new homes (see Chart 2) have been nearly flat for 2 years. The median price of a new single-family dropped to $ 210, 300, down sharply from a year ago. The inve

You are subscribed to email updates from Action Forex To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
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Action Forex

---

• Daily technical outlook
• Euro ends week with strong gains despite Fitch downgrade of five euro zone nations
• Daily Forex and Dow Jones Recommended Levels
• New Home Sales Dip, Orders of Durable Goods Advanced, Jobless Claims Rose
• Euro ends week with strong gains despite Fitch downgrade of five euro zone nations
• New Home Sales Dip, Orders of Durable Goods Advanced, Jobless Claims Rose
• Daily technical outlook
• Markets fall amid worries about Greek debt deal
• New Home Sales Dip, Orders of Durable Goods Advanced, Jobless Claims Rose
• Markets fall amid worries about Greek debt deal

Daily technical outlook Posted: 27 Jan 2012 02:53 PM PST Good morning. Dollar's decline continues as Fed says interest rates are likely to stay near zero through late 2014. Therefore, euro, risk pairs and metals rallied big-time – as seen on the charts below. USD Index Now that support around 79.50 has been breached and the buck is testing session lows, it's not a good idea to buy dips but rather consider new selling opportunities with stops above former support z

Euro ends week with strong gains despite Fitch downgrade of five euro zone nations Posted: 27 Jan 2012 02:47 PM PST On Friday, Fitch Ratings cut the credit ratings of five euro zone nations Belgium, Cyprus, Italy, Slovenia and Spain, while affirming Ireland’s credit rating as it concluded the review of the six euro zone sovereigns it placed on Rating Watch Negative (RWN) on 16 December 2011. Fitch downgraded Italy to A minus from A+, while Spain was cut to A from AA-, both nations by 2 notches. Belgium was cut to AA from

Daily Forex and Dow Jones Recommended Levels Posted: 27 Jan 2012 02:37 PM PST Several words about the EUR/USD future. Resistance (daily close) : 1.3182, 1.3364, 1.3590 and 1.3778. After that 1.3958, 1.4186 and 1.4400. Break of the latter will give 1.4490, 1.4692 и 1.4884. Then 1.5117, 1.5386, 1.5592 и 1.5660. Break of 1.5660 would lead to 1.5865, 1.7280 and 1.9430(published on 23.10.2008).Support (daily close) : 1.2610, 1.2428 and 1.2246. Then 1.2128, 1.1970, 1.1838 and 1.1700. Break of t

New Home Sales Dip, Orders of Durable Goods Advanced, Jobless Claims Rose Posted: 27 Jan 2012 02:21 PM PST Sales of new single-family homes fell 2.2% to an annual rate of 307,000 in December, putting the annual average at 303,000 units. The tally of sales of new single-family homes in 2011 is the lowest on record (see Chart 1). On a quarterly basis, sales of new homes (see Chart 2) have been nearly flat for 2 years. The median price of a new single-family dropped to $ 210, 300, down sharply from a year ago. The inve

Euro ends week with strong gains despite Fitch downgrade of five euro zone nations Posted: 27 Jan 2012 01:48 PM PST On Friday, Fitch Ratings cut the credit ratings of five euro zone nations Belgium, Cyprus, Italy, Slovenia and Spain, while affirming Ireland’s credit rating as it concluded the review of the six euro zone sovereigns it placed on Rating Watch Negative (RWN) on 16 December 2011. Fitch downgraded Italy to A minus from A+, while Spain was cut to A from AA-, both nations by 2 notches. Belgium was cut to AA from

New Home Sales Dip, Orders of Durable Goods Advanced, Jobless Claims Rose Posted: 27 Jan 2012 01:20 PM PST Sales of new single-family homes fell 2.2% to an annual rate of 307,000 in December, putting the annual average at 303,000 units. The tally of sales of new single-family homes in 2011 is the lowest on record (see Chart 1). On a quarterly basis, sales of new homes (see Chart 2) have been nearly flat for 2 years. The median price of a new single-family dropped to $ 210, 300, down sharply from a year ago. The inve

Daily technical outlook Posted: 27 Jan 2012 12:52 PM PST Good morning. Dollar's decline continues as Fed says interest rates are likely to stay near zero through late 2014. Therefore, euro, risk pairs and metals rallied big-time – as seen on the charts below. USD Index Now that support around 79.50 has been breached and the buck is testing session lows, it's not a good idea to buy dips but rather consider new selling opportunities with stops above former support z

Markets fall amid worries about Greek debt deal Posted: 27 Jan 2012 12:46 PM PST Despite showing gains in early trade on Friday, European stocks began falling before a meeting between Greek PM Lucas Papademos and the head of the Institute of International Finance Charles Dallara, scheduled for 16:30 GMT. The officials will continue negotiations on the debt swap, with the objective to finalize the deal with private creditors as soon as possible. According to comments made by Deutsche Bank CEO J

New Home Sales Dip, Orders of Durable Goods Advanced, Jobless Claims Rose Posted: 27 Jan 2012 12:18 PM PST Sales of new single-family homes fell 2.2% to an annual rate of 307,000 in December, putting the annual average at 303,000 units. The tally of sales of new single-family homes in 2011 is the lowest on record (see Chart 1). On a quarterly basis, sales of new homes (see Chart 2) have been nearly flat for 2 years. The median price of a new single-family dropped to $ 210, 300, down sharply from a year ago. The inve

Markets fall amid worries about Greek debt deal Posted: 27 Jan 2012 11:45 AM PST Despite showing gains in early trade on Friday, European stocks began falling before a meeting between Greek PM Lucas Papademos and the head of the Institute of International Finance Charles Dallara, scheduled for 16:30 GMT. The officials will continue negotiations on the debt swap, with the objective to finalize the deal with private creditors as soon as possible. According to comments made by Deutsche Bank CEO J

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Action Forex

---

• Daily technical outlook
• Stocks boosted on rumors of Greek deal
• AUDUSD rebounded from 1.0145
• January 24-25 FOMC Meeting – Fed Extends Low Rate Forecast to 2014
• Stocks boosted on rumors of Greek deal
• AUDUSD rebounded from 1.0145
• January 24-25 FOMC Meeting – Fed Extends Low Rate Forecast to 2014
• Daily technical outlook
• Stocks boosted on rumors of Greek deal
• AUDUSD rebounded from 1.0145

Daily technical outlook Posted: 26 Jan 2012 02:54 PM PST Good morning. Dollar's decline continues as Fed says interest rates are likely to stay near zero through late 2014. Therefore, euro, risk pairs and metals rallied big-time – as seen on the charts below. USD Index Now that support around 79.50 has been breached and the buck is testing session lows, it's not a good idea to buy dips but rather consider new selling opportunities with stops above former support z

Stocks boosted on rumors of Greek deal Posted: 26 Jan 2012 02:50 PM PST The outcome of the Fed monetary policy meeting which took place on Wednesday as well as the recent developments in the Greek situation spurred market optimism on Thursday. Rumors circulate that the meeting between the head of the Institute of International Finance Charles Dallara and senior bankers in Paris resulted in a new private sector creditors offer of an interest rate of 3.75%. Negotiations with the Greek g

AUDUSD rebounded from 1.0145 Posted: 26 Jan 2012 02:46 PM PST Being supported by the lower border of the price channel on 4-hour chart, AUDUSD rebounded from 1.0145, suggesting that the fall from 1.0385 has completed. Now the bounce would possibly be resumption of uptrend from 0.9861, further rise to test 1.0385 resistance is expected later today, a break above this level could bring price to 1.0600 area. Key support is now at 1.0145, only break below this level will indicat

January 24-25 FOMC Meeting – Fed Extends Low Rate Forecast to 2014 Posted: 26 Jan 2012 02:21 PM PST The latest forward guidance from the Fed is that exceptionally low levels of the federal funds rate will prevail at least through late 2014. There was one dissent, with President Lacker of the Richmond Federal Reserve preferring to eliminate the description of the time period over which the federal funds rate would be left unchanged. The Fed changed its expectation about tightening to late-2014 from mid-2013 which

Stocks boosted on rumors of Greek deal Posted: 26 Jan 2012 01:46 PM PST The outcome of the Fed monetary policy meeting which took place on Wednesday as well as the recent developments in the Greek situation spurred market optimism on Thursday. Rumors circulate that the meeting between the head of the Institute of International Finance Charles Dallara and senior bankers in Paris resulted in a new private sector creditors offer of an interest rate of 3.75%. Negotiations with the Greek g

AUDUSD rebounded from 1.0145 Posted: 26 Jan 2012 01:45 PM PST Being supported by the lower border of the price channel on 4-hour chart, AUDUSD rebounded from 1.0145, suggesting that the fall from 1.0385 has completed. Now the bounce would possibly be resumption of uptrend from 0.9861, further rise to test 1.0385 resistance is expected later today, a break above this level could bring price to 1.0600 area. Key support is now at 1.0145, only break below this level will indicat

January 24-25 FOMC Meeting – Fed Extends Low Rate Forecast to 2014 Posted: 26 Jan 2012 01:16 PM PST The latest forward guidance from the Fed is that exceptionally low levels of the federal funds rate will prevail at least through late 2014. There was one dissent, with President Lacker of the Richmond Federal Reserve preferring to eliminate the description of the time period over which the federal funds rate would be left unchanged. The Fed changed its expectation about tightening to late-2014 from mid-2013 which

Daily technical outlook Posted: 26 Jan 2012 12:55 PM PST Good morning. Dollar's decline continues as Fed says interest rates are likely to stay near zero through late 2014. Therefore, euro, risk pairs and metals rallied big-time – as seen on the charts below. USD Index Now that support around 79.50 has been breached and the buck is testing session lows, it's not a good idea to buy dips but rather consider new selling opportunities with stops above former support z

Stocks boosted on rumors of Greek deal Posted: 26 Jan 2012 12:47 PM PST The outcome of the Fed monetary policy meeting which took place on Wednesday as well as the recent developments in the Greek situation spurred market optimism on Thursday. Rumors circulate that the meeting between the head of the Institute of International Finance Charles Dallara and senior bankers in Paris resulted in a new private sector creditors offer of an interest rate of 3.75%. Negotiations with the Greek g

AUDUSD rebounded from 1.0145 Posted: 26 Jan 2012 12:45 PM PST Being supported by the lower border of the price channel on 4-hour chart, AUDUSD rebounded from 1.0145, suggesting that the fall from 1.0385 has completed. Now the bounce would possibly be resumption of uptrend from 0.9861, further rise to test 1.0385 resistance is expected later today, a break above this level could bring price to 1.0600 area. Key support is now at 1.0145, only break below this level will indicat

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Forex Trading Tips

1. Focus on one or two Currency Pairs

First, focus on only one or two currency pairs. When you\'re new to forex forex.co.in\" rel=\"dofollow\">trading, it\'s tempting to see opportunities in every pair, even ones you\'re unfamiliar with.

When I first started forex.co.in\" rel=\"dofollow\">trading, I tried some of the more unusual currencies, like the NZD, AUD, and CAD. I didn\'t know anything about the currencies, so I found myself watching news events for a dozen countries, analyzing all manner of charts, and losing my shirt in new and exotic ways. I got into trades after they\'d already passed and got hit by news events I never heard of. I managed my money very poorly. In short, my concentration, capital, and time were spread too thin.

Now I watch only a few pairs at a time, and they are usually overlapping pairs, such as the euro/yen and the euro/dollar. I see trades developing much sooner, and I\'m better prepared to take advantage of them, as well as manage them once I\'m in the trade.

As a beginner to forex forex.co.in\" rel=\"dofollow\">trading, I believe that you should stick to one or two currency pairs. Which ones? I would advise you to go with the currencies that other beginning forex traders have traded most successfully.
2. Pick a Currency Pair that\'s a Winner

A couple years ago, I reviewed success rates for the 18 pairs with significant volume, and these were the most – and least -- successful for FXCM mini forex traders.

Let\'s look at the worst first. The Seven Deadly Pairs all have one thing in common: high volatility. That means opportunities for big profits – but also large losses. One of the seven deadlies, pound-yen is actually the fourth most popular currency among our mini traders. Its very volatility – and its popularity as a carry trade – makes it very tempting. But it can be brutal.

In the past three years, it has moved as much as 1,000 pips in a single day several times. Whoever bet right realized a very big profit. Whoever bet wrong probably got a margin call. Approach the Seven Deadly Pairs with extreme caution, and only after you\'ve learned with other slower moving pairs.

Now for the Friendly Five currency pairs. Notice they\'re almost all Euro pairs. They also have one thing in common, with the exception of GBP/AUD, -- low volatility. But which ones do you start with? The GBP/AUD has shown good results, but I still don\'t recommend you begin with it. It is not highly traded, not very well known, and it has rather wide spreads. Actually, it seems to be the preserve of our best and most experienced clients – probably the reason it has shown good results.

The remaining 4 pairs are better known and, excepting the EUR/JPY, tend to be nicely range-bound.

Since these pairs have had strong support and resistance lines, they tend to create a lot of high-probability, low-risk trades. And, since they are very liquid, they have tight bid/ask spreads, making them inexpensive to trade, with spreads as low as 1 or 2 pips. As always in forex forex.co.in\" rel=\"dofollow\">trading, you need to appropriately manage your risk as there is never a guarantee that profits will be made.
3. It\'s Your Choice What to Trade
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Of course, you might have a good reason for forex.co.in\" rel=\"dofollow\">trading a currency pair not in the Friendly Five. For instance, when I started forex.co.in\" rel=\"dofollow\">trading forex, I went with USD/JPY.

Why? Simply because I had lived in Japan for two years. I followed a lot of Japanese news and became familiar with their major economic indicators and events. So I thought I had a good head start on understanding the yen pairs.

As I began forex.co.in\" rel=\"dofollow\">trading the yen, I got to know some of its price patterns. First of all was the patterns formed by the carry trade, the major factor in most yen movements in the decade before the financial crisis hit. Speculators around the world had been carry forex.co.in\" rel=\"dofollow\">trading for years, borrowing low interest rate yen to buy high interest rate Australian dollars or British pounds and earning the interest differential. This forex.co.in\" rel=\"dofollow\">trading seems to move the yen pairs in an almost predictable pattern.

You can see the gradual build-up, as speculators buy and create long positions, earning large amounts of interest. Then *THUD* the speculators get spooked all at once and cash out, and the price falls off a cliff. I got to be familiar with this pattern, as well as the events that can trigger the price drop.

All that changed with the onset of the financial crisis in 2007. Since then, I\'ve learned the new patterns of risk aversion in the yen. Since I watch the same currency all the time, I am familiar with its characteristics, even as they change over the years.
4. forex forex.co.in\" rel=\"dofollow\">trading Research Is Vital

That much I learned by simply watching the price charts and actually forex.co.in\" rel=\"dofollow\">trading. But forex.co.in\" rel=\"dofollow\">trading experience takes you only so far. To improve my forex.co.in\" rel=\"dofollow\">trading I had to know a lot more about yen behavior and the Japanese economy. The importance of sales reports for Japanese convenience stores, for instance. Or how during my evening hours, when it is daytime in Tokyo, an unusually large amount of volume comes from individual forex traders in Japan, and that they tend to be yen sellers.

To really learn forex I started to seriously research the pairs I wanted to trade. It was time well spent. And it was free. There are several forex information sites online, and while I might be prejudiced, I would recommend our own free FXCM research site -- DailyFX.com, not only because it is so comprehensive but because it provides clear guidelines for forex forex.co.in\" rel=\"dofollow\">trading.

When you use DailyFX, you discover not only a forex.co.in\" rel=\"dofollow\">trading chart of any currency, but when a particular economic event happens, how important it is and its expected outcome.
5. Don\'t Trade During the News

That brings me to one more vital point that might seem to contradict what I just said. You must monitor news events. And analyze news events. But you shouldn\'t trade during news events – especially the ones that rattle the market, like GDP and employment releases.

The fact is that during news events, forex forex.co.in\" rel=\"dofollow\">trading can be as capricious as rolling dice. In the run-up to the event or release, currency analysts will have published estimates of the outcome or the number. If the estimates prove to be wildly wrong, traders caught by surprise will often panic and take the market in an unpredictable direction – or no direction at all, \"whipsawing\" up and down, knocking out traders left and right with big losses.

Instead, wait until the market has settled a bit before picking a trade. That way, you\'ll be with the large and responsible traders. They\'ll wait for the mayhem to subside before risking their money, and so should you.

Another reason to avoid forex forex.co.in\" rel=\"dofollow\">trading during news events is that liquidity often dries up and spreads widen, which means that getting in and out of trades can be very difficult. It\'s much better to wait, since liquidity returns and spreads tighten again pretty quickly after the event.
6. Trade in Small Lot Sizes

My final tip for today. Realize that you will make bad trades, and plan accordingly. forex.co.in\" rel=\"dofollow\">trading is a constant learning experience, and you want to make sure your early education as inexpensive as possible. So trade small and keep your leverage small until you\'ve got the hang of it. Then make your bigger trades. A forex account that offers 1,000 unit \"micro\" lots is a good way to start.
7. Ready for a forex forex.co.in\" rel=\"dofollow\">trading Account, Where Do You Start?

The best way to start forex.co.in\" rel=\"dofollow\">trading is to open a micro account. It lets you begin with as little as $25.00 – and when you open any account with FXCM, you get a free interactive course that will take you through the basics of forex forex.co.in\" rel=\"dofollow\">trading step-by-step.