17 December, 2008
Euro Soars Against US Dollar
Euro Soars Against US Dollar - Is This a Trend Change or Retracement?
The Euro has registered some very impressive gains against the US dollar this week, adding nearly 5% in just the past two days. The pair is now re-testing the multi-year bullish trend line that had guided price action since 2002 and was broken to the downside at the beginning of October. This is the proverbial line in the sand: if the Euro manages to surpass this juncture, the bearish bias will be violated. However, the possibility remains that current EURUSD strength is corrective and the downtrend will resume following the re-test of support-turned-resistance.
EURUSD Spot (Weekly):
[Why ForexGen]
1. Lowest spreads in the market with 0-1 pip spread in 10 pairs, no commissions, no swaps and instant account Activation.
2. Scandinavian quality with Swiss precision, funds secured and local agents in 18+ countries.
3. ForexGen offers Forex trading in the major currency pairs and crosses.
4. Low capital start, with $250 as a minimum account size.
5. Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
6. [ForexGen] offers a free trial Forex [demo account] that allows you to test your skills and practice without risking real money.
The Euro has registered some very impressive gains against the US dollar this week, adding nearly 5% in just the past two days. The pair is now re-testing the multi-year bullish trend line that had guided price action since 2002 and was broken to the downside at the beginning of October. This is the proverbial line in the sand: if the Euro manages to surpass this juncture, the bearish bias will be violated. However, the possibility remains that current EURUSD strength is corrective and the downtrend will resume following the re-test of support-turned-resistance.
EURUSD Spot (Weekly):
[Why ForexGen]
1. Lowest spreads in the market with 0-1 pip spread in 10 pairs, no commissions, no swaps and instant account Activation.
2. Scandinavian quality with Swiss precision, funds secured and local agents in 18+ countries.
3. ForexGen offers Forex trading in the major currency pairs and crosses.
4. Low capital start, with $250 as a minimum account size.
5. Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
6. [ForexGen] offers a free trial Forex [demo account] that allows you to test your skills and practice without risking real money.
26 November, 2008
ForexGen | Japanese Yen Gains Amidst Consolidation
While the inverse correlation between the US dollar and stocks didn’t hold up today, the Japanese yen did manage to hold up on Tuesday, gaining roughly 1.5 percent versus the euro and over 2 percent against the US dollar.
However, the moves reflected more of a consolidation of Monday’s plunge rather than a clear turn as the Japanese yen remains within its latest trading ranges. While volatility is down from its October records, it is still historically high and suggests potential for breakouts. The big risks for the Japanese yen crosses and other carry trades this week are associated with the closure of US markets on Thursday for the Thanksgiving holiday. We tend to see lower trading volumes around this time, which leaves price action likely to either quiet down substantially or become very choppy.
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* Summarization of the current client's orders, account equity, profit and loss ranging.
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