Trading Forex Today

[Fxstreet]

Dollar keeps on gaining ground, but ... for how long?

Markets Snapshot

Good morning everyone from FXstreet.com. Crude Oil spikes back up and new tensions on its prices arise once again. Bourses remain quite flat at the moment, though. Check out Latest Forex News section to review overnight economic stories.

Forex Technicals at a glance

Despite the holiday in US, the forex markets traded quite actively during the asian & european sessions. Euopean currencies slided further against the greenback, as traders keep on mounting on long dollar positions. Euro is currently testing the 1.1875 area, while the pound is testing low 1.75’s, both important areas. The swiss franc has dipped to almost the 1.3075 level, not far from a key area, the 1.32 level. Yen has also been sold against the USD, which has driven the pair to above the 112.00 figure. However, technical picture shows a over-extended USD rally (with no retracements), that is unlikely to continue this way without a healthy retracement that provides fresh air to a new long impulse. The situation is clear on the usd/chf pair, where we have a very good reference in the 1.32 level. Technical indicators show that fatigue in the upward move, and sellers could be brought in in the coming sessions.

Point of View: The same that happened with the euro and its constant bear-traps is likely to happen with the USD at present. However, retracements are needed for a move to be consolidated and reinforced, That is why technical picture looks overbought and some selling pressure is needed to confirm the bullish move.

Trading Tips:Using the protective stop of the usd/chf rate level at 1.32 and/or usd/jpy at 112.50+/-, one could establish light short dollar positions and try to get a piece of the dollar’s retracement.

 

[Fxstreet]

First signs of Exhaustion

Markets Snapshot

Good morning everyone from FXstreet.com. Markets will be watching closely the G-8 summit starting today, with several issues to be discussed. Check out Latest Forex News section to review overnight economic stories.

Forex Technicals at a glance

Dollar advance looks in a pause at the moment. Strong bidding in the european and japanese currencies has halted the dollar bulls upmove. Quite surprising the over-extended USD upmove has not hit the 1.32 level against the swiss franc. Anyway, the 1.3075-1.3200 area is a tough resistance and won’t be easily cleared for now, therefore I expect at least a sideways move these days (until the NFP is released on Friday, at least), with no major levels broken. It looks like the highs in the dollar have been set for now, awaiting for the new impulse. However, all that I have written can change in 5 minutes between 12:30-12:35PM on Friday, as NFP data always shakes the market heavily.

Point of View: It looks like the Euro decline, so welcome by european monetary authorities (they will one day explain why ... with serious reasons), has found strong bidding among those who believe more depreciation is either irrational or not needed for economic sustainability and among those speculators considering current levels for bidding. Crude Oil at record highs and Euro making new lows against the dollar (the currency in which crude oil is quoted), could just accelerate the european economy slowdown, turning the situation to a very serious one. Japan’s history repeating in the eurozone? We’ll see ...

Trading Tipsaily studies indicate that further dollar gains may be considered as extreme moves rather than solid positions, therefore if indicators turn dollar-bearish (confirm the signals) we will be able to long currencies against the dollar with good risk-reward.

 

[Fxstreet]

Euro recovers a bit of ground

Markets Snapshot

Good morning everyone from FXstreet.com. Crude Oil and Unleaded Gas hitting new highs did in fact hurt the US Stock indexes overnight, and will presumably be affecting the overall financial markets for some time now, as it is quite clear that the bull oil trend is here to stay. Congratulations to London for having won the 2012 Olympic Games hosting election.

Forex Technicals at a glance

The US Dollar has stopped gaining momentum for now as it was broadly expected. At least, against the Euro and the Swiss Franc. The british pound is going its own way these days, and day after day it is becoming the main loser among the majors. Today’s UK interest rate decision (11:00am GMT), which is expected to show a rate cut for the first time in quite a long period of time, it is already being discounted in the fx markets, where the pound is losing ground considerably across the board, threatening some key levels on the downside. The JPY is also down against the dollar, but that’s more a crude oil game, and therefore from a purely technical popint of view is quite arguable that the move was expected. As Euro holds and pound breaks, EUR/GBP climbs above the 0.6815 level, eyeing the 0.6850/65 area as the next strong resistance level.

Point of View: The british economy has been in quite an uptrend for the past years, but there are some signs of trend-exhaustion, that could lead to the first rate cut in months. These are definitely not great news for the european economy as a whole, since it reflects a downtrend that, in the Eurozone’s case, could lead to a period of serious growth problem.

Trading Tips:This view remains fairly unchanged, thouch big economic events are just round the corner and major moves are likely to happen.”Daily studies indicate that further dollar gains may be considered as extreme moves rather than solid positions, therefore if indicators turn dollar-bearish (confirm the signals) we will be able to long currencies against the dollar with good risk-reward.”

 

[Fxstreet]

London Blasts weign on GBP

Markets Snapshot

Good morning everyone from FXstreet.com. Yesterday, London suffered the attack of inhuman people, with a result of 38 killed –last data- and several hundreds wounded. We express our most sincere condolences to the London people.

Forex Technicals at a glance

Yesterday’s fatal blasts in London caused the shake we were expecting today with the release (12:30GMT) of the US Unemployment data. The USD followed the GBP and lost ground against all majors, but this time the move was well short-lived. Losses were reversed, and the greenback even managed to gain some ground late in the session. Obviously, GBP couldn’t follow the recovery. It accumulates a drop of more than 1,700 pips since may’05 and over 1,000 from june 25, that’s a big ride. It has even broken the 1.7465 support quite easily and if today’s data is USD positive, next reasonable support is around 1.71, quite a way down. BOE left rates unchanged in a prudent move to preserve from more speculation.

Point of View:No comments. If this kind of people still exist, we must just think about it. Because yesterday was London... but who will be next? This is a social plague and its erradication, whatever the way, is the only solution for a safer, peaceful world.

Trading Tips:After yesterday’s events, and with today’s US data coming out fairly soon, it is advisable to remain flat if not in any position now.”

 

[Fxstreet]

US unemployment rate at 4-year lows

Markets Snapshot

Good morning everyone from FXstreet.com. US unemployment at 4-year lows and the DJIA index surged on Friday action in Wall Street. Crude Oil trading at $58.7 and mroe downside could be seen in the next sessions.

Forex Technicals at a glance

Friday’s US unemployment data, which was basically good, caused, as it was expected, a good shake in the fx markets. The overall winner of that shake was the Euro, which reversed the early losses and ended up pointing upwards in a daily reversal candle that for sure frightened the $$$ bulls. Pound kept on sliding after july 7th blasts. Eur/Gbp, consequently, rose to the 0.69 level, which is expected to protect of further gains from the single currency. 0.69-0.6920 area should cap any rally for now and put the pair back to the mid 0.68’s. If that level is broken (after serious fight, at least), 0.70 is eyed as the next upside target. Usd/Cad slipped back down below 1.22’s in strong move, despite crude oil’s tick down.

Point of View:News and events are always used the way it benefits most the major number of big players possible. Last frday’s data, again, was a clear example of this situation. Most of even-driven traders would have longed the dollar after the unemploymentnews release, but faced a key daily reversal instead. Therefore, long positions accelerated on short covering and new net long positions, causing the daily candle formation to result a key reversal one.

Trading Tips:Unless 0.6920 is clearly taken out, eur/gbp short positions are favoured.

 

[Fxstreet]

Dollar gets sold-off overnight

Markets Snapshot

Good morning everyone from FXstreet.com. US Stock Markets keep in the rise and the DJIA closed again above the 10,500 mark.

Forex Technicals at a glance

Dollar sold-off overnight to confirm the bearish expectations pointed out in this report for some days. The retracement of the current moves can last a little longer and drive the dollar to lower levels, get a breathe of fresh air, and move back up. Fibonacci daily retracement levels are yet to be touched on the majors and that is why this retracement move might not be over. However, despite current’s volatile one-way moves and the fact that both the euro and the pound have gained over 300 pips in 2 sessions, respectively, I expect the volatility to slow down and the current level areas to hold for a while, but keep an eye on the fact that there has been a good deal of money flowing in to the european currencies and that a new breakout can’t be ruled out.

Point of View:It is quite true that money gets in and out of any investment quite easily, but it is also true that it gets out of it faster than it gets in. What do you think? Dollar was well bid up until Friday when, suddenly, everything changed. The fresh euro and pound longs were dramaically helped by the strong short covering (money getting out of the dollar) that took place in both pairs. The result, as expected, was a one-way traffic move in continental currencies favour.

Trading Tips:Current Eur/Jpy level is maybe not yet as attractive as 136.20 would be, but longing the japanese currency against the euro could work.

 

[Fxstreet]

Majors stop their advance in front of key resistances

Markets Snapshot

Good morning everyone from FXstreet.com. Crude Oil re-gains momentum amidst fears of supply interrumptions in the caribbean area due to heavy storms.

Forex Technicals at a glance

Dollar sell-off halted just in front of some key resistances. The Euro hit the 1.2250 resistance quite easily, blowing some stops throughout the way, but failed to clear that level and went back down below 1.22. GBP tried to cope with the 1.78 level, but that was too much at this time (after an almost 500 pip rally in 2 sessions), and as it was broadly expected, the pair broke down the 1.77 level again in both profit taking and new short positions opening. The Swiss Franc also tried to hit some major levels and break below the 1.27 figure, but wasn’t unable to do so and pair is trading back to around the 1.28 level.

Point of View:Better safe than sorry. If you look at the past trading sessions, with lots of volatility and spikes in both directions, it is much better to be out than in the market, and only wish “what would’ve happened if I had been in...” rather than wish “..if I had just stayed out of the market”. Low-mid volatility pairs, like eur/chf, eur/gbp, aud/nzd, aud/cad, etc offer better stree/results ratio in current times, so they may be worth a close look.

Trading Tips:While below 0.6920, EUR/GBP has room for a drop. Therefore, current levels offer a very good risk/reward trade.

 

[Fxstreet]

Up & Down action on majors

Markets Snapshot

Good morning everyone from FXstreet.com. Stock exchange indexes remain firm and look poised for attempting higher levels in coming sessions. Crude Oil has given a SELL signal (entry price, yesterday @ $60/bbl) on a daily basis and the 56 or 54 levels could be seen.

Forex Technicals at a glance

Dollar sell-off halted just in front of some key resistances. The Dollar recovered quite a substantial part of the losses that took place early in the week. Euro’s 1.2250 resistance level proved to be very strong and pushed the pair back down to 1.2060. It is now trading below first fibo retracement of that downleg (around 1.2135). GBP presents a pretty similar situation, with pair on a bull rally up to 1.78 and then back down to 1.7520. Seemingly, it is now unable to break above the first (38.2%) fibo level, around 1.7635. As it was written in tihs column, eur/gbp upticks were a good option for establishing long gbp positions. Pair dumped to test the 0.6840 support, which for now has held, driving the pair backa round 0.6875-80. Eventually, that support could give up and 0.6800 support bids should come into play.

Trading Tips: EUR/CHF presents a good risk/reward ratio for establishing long chf positions. If the uptrend channel’s barriers prove to be valid magnets to the price action, initial target would be around 1.5520.

 

[Fxstreet]

Indecisive moves among the european majors

Markets Snapshot

Good morning everyone from FXstreet.com. Stock exchange indexes remain firm and look poised for attempting higher levels in coming sessions. Crude Oil is traidng around $58/bbl and we expect the $56/$54 level to print anytime soon.

Forex Technicals at a glance

A bit of indecision today at the opening of the European Session, after the good dollar rally on Friday and the also not bad counter-move in overnight’s asian session. GBP is the losing currency across the board so far, and that is making the EUR/GBP to threaten again the key 0.6920 fibo level, which for now has capped the single currency’s momentum. However, the euro is not much safer than the pound though it remains attractive while above 1.20, where stop orders are not likely to come into play. We are either in a trading range (1.2215-1.1880) or yet to really establish one. Some comment on the 1.23-1.17 new trading range establishment. Well, we will see ... One thing to bear in mind is that with the current volatility times, hit and run trades are favoured instead of trying for the big move (which can lead in fact to a big killing! move if prices go against the initiated position). Technical indicators (as always when a strong trend is established) are facing difficul times to provide with clear and reliable trading signals, thus leadig to confusion most of the time. However, when the new trading range is finally etablished, they presumably will come to normal records.

Trading Tips: This still is a valid view: EUR/CHF presents a good risk/reward ratio for establishing long chf positions. If the uptrend channel’s barriers prove to be valid magnets to the price action, initial target would be around 1.5520.

 

[Fxstreet]

Dollar rallies again

Markets Snapshot

Good morning everyone from FXstreet.com. Stock exchanges took a breath in lights of 4-year highs.

Forex Technicals at a glance
Dollar rallies and europeans fighting to hold above key levels. Well, his has been the story for quite a while now and yesterday’s session (as well as overnight’s) just repeated the story. The trading range keeps playing its role and will rule the market while it remains intact. The only exception, as it has been for some time now, is the pound. It is playing its own game, with volatility far above the other majors, spiking up and down, turning gains into losses very rapidly.... well, one could say this means the bearish move could be about to end (increased volume, volatility and price action spikes can inidicate last moves in one direction). Dollar gains need to cross the 1.3050/75 barrier in the Usd/Chf pair to evidence strong momentum able to go for further areas. It looks opised for a break of that level, and if that finally occurs, we will probably see an attempt to the 1.3200-3250 level, which would imply the euro trading at 1.1700 or whereabouts, a level which has already been suggested by many analysts as the next magnet level for the euro to trade.

Trading Tips (you’ll find more detailed info on them in the Trading Corner chat room):This still is a valid view -though pair is resilient to move and it has almost touched the 1.5650 level, a break of which will certainly negate the view-: EUR/CHF presents a good risk/reward ratio for establishing long chf positions. If the uptrend channel’s barriers prove to be valid magnets to the price action, initial target would be around 1.5520.

 

[Fxstreet]

GBP dumps as BoE is expected to cut rates soon

Markets Snapshot

Good morning everyone from FXstreet.com. Crude Oil gained some momentum yesterday but overall bias (technical point of view) is still bearish short-term.

Forex Technicals at a glance

The yo-yo market is back! Well, it looked as a pretty one-way trading but you can never underestimate the power of the euro bulls! The dollar substantially lacked momentum and the key area to watch (usd/chf 1.3050/75) proved to be a very strong resistance nad the dollar sold-off against the major europeans ....... but not against all of them. There was one exception: the british pound. Surprising? Not really ... It is now trading below 1.74 again (after briefly recovering it) after the BoE minutes release, which showed a very tight 5-4 vote to hold rates unchanged; presumably it will happen in August, and that has been used as the catalysator to sell it against all majors indeed. Eur/Gbp has very clearly broken the 0.6920 resistance level nad it has surged to above 0.6960, with some traders eyeing the 0.7 level as the next target for this upmove. Honestly speaking, I find difficult to get good risk/reward trades with the current volatility, and would stick to the opinion that CHF can gain momentum against the Euro (which obviously has not happened in previous sessions), a view that is really loosing ground as the pair has already tested the 1.5650 area, but hopefully failed to clear it, though it is pressing it quite strongly.

Trading Tips (you’ll find more detailed info on them in the Trading Corner chat room):This still is a valid view -though pair is resilient to move and it has already touched the 1.5650 level, a clear break of which will certainly negate the view-: EUR/CHF presents a good risk/reward ratio for establishing long chf positions. If the uptrend channel’s barriers prove to be valid magnets to the price action, initial target would be around 1.5520.

 

[Fxstreet]

Dollar soft across the board, yen surges

Markets Snapshot

Good morning everyone from FXstreet.com. Terror and chaos shaked London life again on Thursday, when new blasts were just about to happen (fortunately they did not explode in full force).

Forex Technicals at a glance

Dollar softer across the board. The euro tested again the 1.2250 but at that point it reversed gains to losses, trading down to just above 1.21. Closing price was around mid 1.21’s same level we currently see on the screen. Pound reacted quite heavily –as expected- to the London blasts’ attempts, moveing down from the 1.76’s highs of the session. Currently trading around 1.75, it is resilient to move down, but certainly lacks a lot of momentum when it just hits any of the mild resistance areas that it faces on the way up. In my opinion, both euro and pound have not seen year lows yet, but the technical picture (specially on euro) is quite supportive, therefore if the 1.20 handle holds, I cannot rule out a move to the 1.2470 strong barrier. Also remarkable the JPY recovery in the past sessions, confirming the 113 handle to be very tough for the long dollars at least for now.

Trading Tips (you’ll find more detailed info on them in the Trading Corner chat room): This still is a valid view -though pair is resilient to move and it is very close to clear the 1.5650 level, a break of which will certainly negate the view-: EUR/CHF presents a good risk/reward ratio for establishing long chf positions. If the uptrend channel’s barriers prove to be valid magnets to the price action, initial target would be around 1.5520.

 

[Fxstreet]

Rangebound price action

Markets Snapshot

Good morning everyone from FXstreet.com. A quick word on crude oil. Resilient to move in either direction for the past 2-3 sessions, we still favour a bit of a downside move prior to what could be the confirmation of the uptrend channel. Daily signals suggest that $54-53 could be seen.

Forex Technicals at a glance

Dollar softer across the board. No man’s land trading for yesterday’s session. Lack of any relevant news and the fact that summer Mondays are usually quiet, drove to a quite boring session. The Euro is holding above the 1.20 figure, and is quite firm at defending it so far. However, retracements have not been as strong as we saw in past sessions, thus indicating some lack of strength that could result in a clear break if the level is tested again. The dollar is quite firm across the board, specially against the pound, but it is definitely unable to make any decisive move, therefore we can’t rule out a bit of dollar weakness in coming sessions. This week is quite full of important economic news, from where we highlight the Durable Goods report, the FED Beige Book and the Real GDP figures (out on Friday). Market looks to be awaiting for these figures to be released prior to assessing the next strong move.

Trading Tips (you’ll find more detailed info on them in the Trading Corner chat room):This still is a valid view –while failing to clear the 1.5650 level -: EUR/CHF presents a good risk/reward ratio for establishing long chf positions. If the uptrend channel’s barriers prove to be valid magnets to the price action, initial target would be around 1.5525, next one at 1.5440.

 

[Fxstreet]

Summer Break

Next report to be posted on september, 1st. I wish a very good summer to you all.

 

[Fxstreet]

Forex Morning Meeting

Markets Snapshot

Good morning everyone from FXstreet.com. After a month of recess, we are back with our european session report. August has finished with the market eyeing again the vrude oil imparable rise, this time due to the katrina hurricane disaster. It has been said that around $30b will be needed to recover the area, which could be a big weigh to the US economy.

Forex Technicals at a glance

Disappointing PMI number (48 .. when the expected was 61) triggered major buy orders against the USD, which resulted in a 100+ rally in the majors. The euro is currently testing the 1.2380 resistance area, which marks the 73.6% fibo level of the last downleg, a level that should attract a good deal of sellers despite the current rise in its value. With this week full of economic news, certainlyl antyhing can happen. And what ‘s more important, what will happen will really be crucial to the market. It is generally known that september marks the trend of the next months, and it looks as it is going to happen again this time. Short timeframe indicators suggest that the current rally may pause a little at current levels, even going a bit down. What it is uncertain is what will happen with the economic news, therefore any analysis has to be done in the most cautious way. So the best advice for the rest of this week is to trade light and don’t stick to just one view, since things can happen in a matter of just hours. Taking a bit of a breathe and let the situation to settle down is a wise option too.

Trading Tips (you’ll find more detailed info on them in the Trading Corner chat room):Aud/Cad presents a good technical picture for the establishment of long Aud positions on a daily basis. If the view proves to be right, target is situated at 0.9250.

 

[Fxstreet]

Forex Morning Meeting

Markets Snapshot

Good morning everyone from FXstreet.com. Dow Jones Index ended a bit down in yesterday’s session. Crude Oil around $69.50, resilient to even make a slight correction, though it is near the upper band of its current uptrend channel.

Forex Technicals at a glance

The USD has broken down against all and every single one currency. The Euro is almost at 1.26 and pound has breached the 1.84 level momentairily. Certainly disappointing for charticians and technical analysts, who found good technical USD-supportive patterns yesterday, mainly coming from indicators reading. Pure chartists enjoyed a stick and bull triangle formation, which led the majors to a yet another 100 pip rally in early european session. Weak US data along with Katrina’s devastation, is indeed hurting the greenback. There’s a good reasoning behind the current USD downmove, and one wonders why is the FED’s next speech about. It is quite clear that the economy is not going the pace it was expected to, and today’s key NFP can be the catalysator of a renewed wave os USD bearishness. USD supporters may prefer the 1.2650 level on euro (top of the current uptrend channel) to start building long positions, or wait for the 1 hour chart (short term trading) inidcators to turn bearish to initiate long USD positions. As in every strong trend, counter trades may result in a loss or very tiny gains, but they may be worth a try. Trend followers now are enjoying great time with the current move.

Trading Tips (you’ll find more detailed info on them in the Trading Corner chat room):Aud/Cad keeps presenting the bullish view as noted yesterday.

 

[Fxstreet]

Forex Morning Meeting

Markets Snapshot

Good morning everyone from FXstreet.com. Crude Oil down to below $67, retracing a bit from its all-time highs at $70.

Forex Technicals at a glance: The Eur/Usd today

The Eur/Usd pair is bouncing down after touching the upper band of the current uptrend channel, which more or less was situated around 1.26. I frankly expected some kind of price action penetrating that level before retracing, but the fact is that is off those highs by some distance now. While pair trades amnd closes above the 1.2320-1.2350 range on a daily basis, one should maintain a bullish view on the pair. Some daily oscillators present divergence with respect to the current uptrend on the pair, which is also weighting and could lead to a test of the mentioned range, which will also be supported by the fact that the 10-day SMA is above the 20-day SMA and both above the 50-day SMA, which implicates a positive tone in the pair. The lower band of the uptrend channel is around 1.2220, and while it remains intact, bearish trades have to be taken only as “counter-trend” trades and executed with extreme care.

Trading Tips (you’ll find more detailed info on them in the Trading Corner chat room):Aud/Cad remains on a positive tone, aiming for the big daily downtrend around 0.9225.

 

[Fxstreet]

Forex Morning Meeting

Markets Snapshot

Good morning everyone from FXstreet.com. Crude Oil down to below $66, retracing further from its all-time highs at $70. DJIA index closed barely below 10.600.

Forex Technicals at a glance: The Eur/Usd today

The Eur/Usd pair is currently fighting to stay above the first fibo level (which was broken few days ago), the 38.2% one, of the previous downleg (1.3480-1.1867) situated around the 1.2480 level. As I said, after clearly breaking it, even on a daily closing basis, the pair has lacked momentum to continue the rally and has been capped by the upper line of the current uptrend channel. It is quite difficult to trade the pair as it is in no man’s land, and any advice has more or less the same odds to result in a win or in a loss. For a long position I would definitely wait for the 1.24-1.2350 range to be tested before entering the trade. For a short position I would wait for a new test of the upper line of the uptrend channel, mroe or less around 1.2650, which coincides with the 50% fibo reracement level of the previous downleg, which definitely means that some selling pressure should exist there. Anyway, we are in a bullish channel so until the lower line is broken, longs follow the current short-term trend and shorts are counter-trend trades. Indicators were yesterday more inclined to the short signal giving, today they are less inclined and therefore the “no-man’s-land” caution is needed.

Trading Tips & Alerts (you’ll find more detailed info on them in the Trading Corner chat room):

Aud/Cad: Long @ 0.9071 (sept 2), target 0.9225. Still presenting a decent bullish view.

 

[Fxstreet]

Forex Morning Meeting

Markets Snapshot

Good morning everyone from FXstreet.com. Crude Oil down to below $65, in another $1+ downmove after the highs seen some days ago. DJIA index closed above 10.600.

Forex Technicals at a glance: The Eur/Usd today

Pair trading barely above the 1.24 level, which was tested yesterday around mid-US session. If we calculate the fibo lines for the entire move down from 1.36+ to 1.19-, we clearly see that the euro rise was just halted in the 38.2% retracement level of that downleg, which is just above the other fibo level for the 1.34+ - 1.19- period. Putting it simple, pair faced a very tough area around 1.2540-1.2585, which was too much for the bulls at this time, who finally gave up supporting the pair at those levels, leading to the current 180 pip move down from last week’s highs. It is, however, still above the shorter SMA’s (10 & 20), but the eal support area will come around 1.23-1.2340. If that are gives up, then there is a serious threat for the long positions. Longs are only recommended around that area to have better odds than any other attempt at this point. Shorts are in no man’s land at the moment so I honestly do not advise to enter (if you did not short at the 1.2540-80 area) at this point, since we are clearly in no man’s land, yet still in a bullish channel. Indicators aren’t also unified, reinforcing the “stand aside” view.


Trading Tips & Alerts (you’ll find more detailed info on them in the Trading Corner chat room):

Aud/Cad: Long @ 0.9071 (sept 2), target 0.9225. Still presenting a decent bullish view. Last daily close: 0.9107.

 

[Fxstreet]

Forex Morning Meeting

Markets Snapshot

Good morning everyone from FXstreet.com. Crude Oil holds below $65, while DJIA index closed above 10.650.

Forex Technicals at a glance: The Eur/Usd today

A shorter than usual report today. Pair trading below the 1.24 level at the moment, driven by intraday speculators who are adding pressure to the single currency’s supporting buyers. Not much we can add with respect to yesterday’s levels, which remain intact and which we would like them to be seen prior to taking any conclusions whether a trde should have better odds or not when entered.


Trading Tips & Alerts (you’ll find more detailed info on them in the Trading Corner chat room):

Aud/Cad: Long @ 0.9071 (sept 2), target 0.9225. Still presenting a decent bullish view. Last daily close: 0.9106.