Tag: forex

New York

The euro gained 1.2% reaching 130.09, compared to 131.73 in New York reported yesterday. No doubt the yen took advantage of the existing rumors about the audit that the Obama administration is doing to the U.S. banking sector is estimated that some 10 financial institutions will need additional capital to continue operating. Perhaps the final publication of this report harm confidence in general, and the recent optimism could evaporate with a new fear. OIL – Oil retreats after the peak in 2009, crude oil fell Tuesday, as fears over global economic recovery remain. However, crude oil reached an estimated maximum of 2009. Yesterday crude fell 63 cents, reaching $ 53.60 per barrel after highs recorded this year at $ 54.83.

Recall that since the minimum in the $ 32.40, the lowest level in 2008 oil has rebounded slowly. However, crude oil traded well below the peak in the area of $ 147 during the month of July 2008. The global economic crisis has hurt demand for this commodity and inventories are rising while the price of oil falls. However, the latest economic releases have prompted some optimism, and many analysts are already talking about that by mid-2009 will see a clear improvement and that is why crude estimate would be around $ 65 long-term. Technical News EUR / USD The pair has traded in a significant downtrend, and reached 1.3250. However, after three failed attempts to break the current levels, it appears that the 1.3250 level will signal reversal. The hourly chart shows that the RSI has reached line 30, and now hints at a rise. Going long with tight stops would be the preferred strategy to follow.

GBP / USD Cable is apparently ending the upward trend. The daily chart with Bollinger bands shows that as have achieved the key points. The daily chart also shows the slow stochastic with a hint bassist. Going short with tight stops would be the preferred strategy to follow. USD / JPY The pair is in a downtrend and is currently trading in the 98.10 area. Apparently the 97.90 level is a significant level of support. And if the pair managed to break that level of support, can take place a further fall. USD / CHF The pair continues to experience volatility, and currently is around 1.1340. In the 4 hour chart shows a bearish formation, and the hourly chart, the slow stochastic shows a possible downtrend. Going short with tight stops would be the preferred strategy to follow. The Letter of the Day Oil on the daily chart shows a bullish formation. However, other indicators suggest a downward slope, and apparently pass a correction. This phenomenon can be exploited by investors and thus enter the trend.

Financial Crisis and Housing

Trade the USD Today’s financial crisis intensifies Can the federal government continues tripping The volumes fell sharply in the beginning of the session Night view high volatility is estimated The dollar will probably weaken All For Tuesday times EASTERN (-4 GMT) 8:30 am, the USD Core CPI m / m 8:30 am, the USD CPI m / m 9:00 am, the USD TIC Net Long-Term Transactions 10:00 am, Paulson , U.S. Treasury Secretary speak 1:00 pm, the USD NAHB Housing Market Index 2:15 pm, the FOMC statement 2:15 pm, American interest rates Summary Today was a notable day in the market most Wall Street shares tumbled, given the prevailing panic by the crisis of Lehman Bros. Bank, and the speculation surrounding the insurance giant AIG. The question is, “the Fed will be involved?”. It is noteworthy that a barrel of oil reached the area of $ 100, and ended the day at the $ 95 area. Analysts welcomed the drop in oil, but would have to see to what extent is a financial panic liquidation. The greenback suffered great volatility during the last 24 hours, and greater volatility will continue, as they continue negotiations behind closed doors to rescue the financial market.

At day’s end, the greenback saw mixed results, was observed against the GBP and the EURO, but lost ground against the Yen and Swiss Franc. After the panic and settlements in Asia, the dollar then stabilized, and trade in narrow ranges during the New York session. Operating volumes were low and await more economic data to be published. The maximum record book in the area of 1.8130 overnight, and then fell in the area of 1.7900 during the day, it is estimated that the GBP will continue with short-term volatility. The Euro recovered during the Asian session and reached highs in the 1.4482 area, and then fell, ending day in the area of 1.4200 in New York after minimum in the zone of 1.4083, as the panic spreads.

Following speculation that the Fed will cut interest rates tomorrow, helped keep the greenback. In my view, what happened today in the market and the volatility seen, occurs every 25 years. Operators should use this volatility wisely, but if the financial crisis continues, must be cautious. It is advisable to buy GBP and EUROS lower, the USD will remain in low especially against the JPY in my opinion. For more information go to