Forex Commentary: Gold pin bars recap, 9th November 2010

Forex commentary:

The dollar gained strength today as European countries that are heavily indebted were behind the headlines, the cost of protecting government debt against default increased substantially in the last week in Ireland, Portugal and Spain.

The euro has reached its lowest level in over a week against the dollar, hitting a low of 1.3750 today. the dollar was against a basket of currencies as the dollar increased at the rear of the currency market uncertainty today.

Negotiation/chart settings in the foreground:

GOLD

Gold formed a couple of good pin bar Setup last week that then pushed higher and savvy traders netted some seeds very decent.

We sent pin bar last Friday in the comment of Member before it came, broke with resistance and did what was an all time high. lower Price has rotated in Florida today close to, but this setting might have provided a risk of 1-2/reward if it was traded successfully. installing bar pin from 3 November worked very well.

For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading course.

Other markets:

On Wall Street stock fell today for a second day in a row as sell collected up closing, led by big losses as stocks of metal and Bank.

The Dow shed 60.09 points, or 0.53%, S & P 500 has lost 9.85 points or 0.81%, the Nasdaq lost points 17.07 or 0.66%.

The next important ads: 11/10

Safe boot: China – trade balance
06: 30: Britain – BOE Gov King speaks
06: 30: Britain – in BoE inflation report
09: 30: Canada-trade balance
09: 30: United States – trade balance
09: 30: United States – Unemployment Claims
2: 00 pm EST: speaks of the eurozone – ECB President Trichet
8: 30 pm EST: Australia – employment change
8: 30 pm EST: Australia-unemployment rate
10: 00 pm EST: China – CPI y/y

Forex Commentary: AUDUSD range-bound, 1st November 2010

The daily currently is consolidating into a trading range between 1.0000 to 0.9675. There are chances of consolidation later mid-term elections American Tuesday and u.s. Federal Reserve announced Wednesday as regards quantitative easing.

Generally, these situations where we have a break in a trend and the price action is laterally, we give the favor of the previous trend, then it would be up. However, it's best to wait for a break of consolidation to occur and then look at the strength of breakout and wait for confirmation Settings action price before committing all positions.

Intra-day update:

The Reserve Bank of Australia raised interest rates by.25% today, as you can see in the chart below the market has rallied strongly out this news. it seems that a break off the top of this range is possible in the near future, this is a historic moment for the Australian dollar, further upside earnings are probably in the near future.

For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading course.

Comment:

The dollar rose today on the back of production data USA and Chinese forts and as investors wait for the next elections intermediate Tuesday and the announcement of the Fed Wednesday.

In recent weeks dollar's decline has slowed down a bit as traders reduce expectations about aggressive as it could be the fed and betting against the dollar has grown.

The dollar rose to 0.2% against the yen to 80 59 and the euro fell 0.4% for the dollar to 1 3882.

The Dow added 6.13 points or 0.06%, the S & P 500 added 1.12 points or 0,09% and the Nasdaq lost points 2.57 or 0,10%.

Forex Daily Outlook – November 09 2010

Posted by anat on November 9, 2010
Daily Forex forecast filed | leave a comment

Canada United Kingdom & Governor Mark Kearney voice is part of the manufacturing and forecasts a significant event production. Today let's wait for us.

United States provides to investors business daily (IBD) /TechnoMetrica research policy and to evaluate the economic and political (TIPP) economic optimism, monthly survey of the relative level based on the consumers has risen to approximately 47. 8 consumer for approximately 900, and yet investigated indicating the pessimism and diffusion index

After United States, drip held total about stock wholesale inventory products wholesalers in 0.2% is. Company is most likely to purchase and have run out of stock, so signal future business spending.

Is Canada in the new housing price index (NHPI), the sales price of new housing approximately 0.4% rise. Rise in housing prices and attract investors because they spur industry activities each month leading indicators.

Canada, BOC Governor Mark Kearney, details, for the delivery of a speech titled "looking back, moving forward: Canada and global financial reform" in the center of the Bank in Geneva of international financial. Use for dropping a subtle clues to the future of monetary policy.

Read the CAD forecast about u.s. $ / CAD.

In Europe, Germany final consumer price index (CPI); prices of goods and services consumers to purchase to about 0.1% in the previous month is. Preliminary release is the earliest, that affect almost like this tend to be.

Europe, France Government budget balance by Central Government revenue and expenditure is until the year value-of like 122. 1 B shows the deficit in the previous month.

And B the value of the import to rise France Japanese trade balance, approximately-3.7 last in Europe, and products exported, reported, while the deficit.

Euro for more information, read the analysis of latest USD forecast and Casey Stubbs.

There is a tendency to dominate the market impact in the valuable, such as total inflation adjustment value output generated by the makers of United Kingdom, production, manufacture of 0.3%, approximately 80% of the total industrial production manufacturing and;.

In the United Kingdom reported trade balance, between value between imported and exported goods is B. in approximately 0.3 to cut deficit was shown.

Later United Kingdom United Kingdom Retail Consortium (BRC) retail sales monitor the retail level in same store sales value, 0.5% of the previous month is like.

Also, British Royal institution of Chartered Surveyors (RISC) house price balance, surveyed property surveyor judgment DI approximately 0.3% rise is based on. Because there is access to the most recent price data thanks to the surveyors work leading indicator of inflation.

Is that finally United Kingdom, industrial production, inflation adjusted values manufacturers, mines, and utility generated output of approximately 0.2% rise. Approximately 20% of the mines and utilities total production?

Pounds, read more about prediction GBP / USD.

Released Switzerland State Secretariat of economic issues (SECO) consumer climate, survey, 3 per month, rising 17 points in evaluating the relative level of approximately 1,100 homes optimism past and future economic situation.

It is to rise to new lending Australia allows home loan, home ownership House about 1%. Excellent gauge to qualify buyers how much of the market in the market.

Further Australia, Australia Bank (NAB); business confidence about 350 shows, improvement criteria in evaluating the current state of business companies monthly survey, relative levels of 10 points of the previous month.

In evaluating the relative level of Australia, Westpac consumer attitudes, past and future economic situation last study of approximately 1,200 consumer monthly employment and climate is big shopping, 3% were similar to last month.

Australia for more information, please read AUD / USD forecast.

New Zealand provides insight view New Zealand (RBNZ) financial stability report Reserve Bank Bank of inflation, growth, and other economic conditions that affect future interest rates.

Japan, economic attitude of the mind is to evaluate the relative level of the current economic situation survey of nearly 2,000 workers about 0.5 point rises in the is still on show pessimism 41.7 point is.

Newer Japan order machine tool manufacturer and deploy initial release, and trends that affect almost like this. Last month in September, 112% in May.

It is today. Forex trading and happy!

? I want to ensure is doing in the accounts of other trade commercial real? check Currensee ? Free.

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Tags: economic attitude of the mind is France Government budget balance, France Japanese trade balance, Germany final consumer price index, home loan, IBD/TIPP Economic optimism, industrial production, production, manufacturing mark Kearney, NHPI to spare machine orders, RBNZ financial stability report, SECO consumer climate, trade balance, Westpac consumer attitudes, wholesale inventories

Forex commentary: Consolidation is King, but for how long? 2nd November 2010

The EURUSD and Daily were trading in well defined intervals in recent weeks, will be announcing US Federal Reserve bank of tomorrow to be the catalyst that breaks these pairs of their ranges?

Merchants have been anticipating more quantitative easing by the Federal Reserve Bank of the United States, but it is unclear how the Fed will inject the American economy stalled. we may see more consolidation in Major break free from their recent commercial ranges if the announcement of the Fed disappoints, however, the ad should meet or exceed the expectations that we can see only the dollar further weakening of the trader and the EURUSD and Daily finally.

EURUSD chart daily:

EURUSD chart daily with 8 and 21 emas by day:

Daily daily chart:

As a side note, we recently made a blog post about the Australian dollar to achieve equality, it seems that the daily parity-party is on!

For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading course.

Comment:

The dollar fell by 0.7 percent against a basket of major currencies, the correlation between the dollar and the S & P 500 was very close in recent weeks, standing at about-0.84,-1 is a perfect inverse correlation.

The dollar is likely to weaken in Federal Reserve monetary policy announcement tomorrow, after the news is released we could see a "buy the rumor, sell the fact" scenario with a slight descent-back to Eve recently against the dollar in most of the majors.

The Dow added 64.10 points or 0.58%, was the S & P 500 points or 0.78 9.19% and the Nasdaq added 28 68 points, or 1.14%.

Forex commentary: Silver top model Expoding fakey complete – 4 November 2010

Forex commentary

The dollar fell further today.Weighing heavily on the dollar was greater energy and commodity prices. Gold spot touched record levels again today as the Fed move to increase the supply of money in the United States weighed down the dollar.
The weak dollar is considered as inflationary pressures for the American economy, however, that should help the sector export USA weak push. Technically the dollar remains extremely weak and the tendency remains bearish.

Negotiation/chart settings in the foreground

Silver

We have discussed setting bullish market for silver fakey members comment yesterday, noting the fakey/pin huge buy installation which was formed on the daily chart section.This was a "huge" long tail pin bullish bar fakey, that is not the conventional action price signal. this signal required above high bullish confirmation to confirm, and which in fact occur overnight, catipulting prices to record levels, producing a close above the resistance level of $ 25.00. Signals like this are you unique and rarely occur, but the principles remain the same. Annotated chart below shows the inside bar structure that then saw prices form a false break down and then reversing next back to top ups bullish, completing the fakey pattern.

For more in-depth information on of my action price trading signals/setup check out my Forex advanced action price negotiation

Other markets

In New York, the stock market extended impressive rally near two-year highs, a day after the Federal Reserve has unveiled a plan to revive the economy.

The Dow Jones added points 219.71 today, or 1.96%, S & P 500 gained points 23.09 or 1.93% and the Nasdaq added paragraphs 37.07 or 1.46%.

The next important ads: 11/5

Provisional: Japan – BOJ press conference
05: 30: Britain – PPI input m m
07: 00: Canada-employment change
07: 00: Canada-unemployment rate
8: 30amEST: Canada – building permits m m
08: 30: United States – non-farm employment change
08: 30: United States-unemployment rate
10: 00 am EST: United States – pending home sales m m
2: 00 pm EST: United States-Chairman Bernanke speaks

Forex commentary: GBPUSD in support, November 8, 2010

Forex commentary:

The dollar gained strength today as worries about the debt load of Ireland weighed on the euro which gave the dollar relief from his descent recently.

Gold hit a new record to $ 1400 per ounce today as increased on concern over inflation.

Negotiation/chart settings in the foreground:

GBPUSD

The GBPUSD moved lower today, supporting around 1.6100, hitting this level you must take if we get another strong upward movement in this pair. operators may also keep an eye out for fakey configurations or pin bars that occur near this level after New York close tomorrow.

For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading course.

Other markets:

On Wall Street, stocks pulled back today as traders retreated from a manifestation that drove the indexes to the higher levels from the peak of the financial crisis in September 2008.

The Dow lost points 37.32 or 0.33%, S & P 500 lost points 2.62 or 0,21% and the Nasdaq acquired points of 1.07 or 0.4 per cent.

The next important ads: 11/8

05: 30: Britain – production production m m
4: 00 pm EST: New Zealand – RBNZ financial stability report
8: 30 pm EST: Australia – Home Loans m m