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Tuesday,
18 September 2007,
22:23 GMT
Research
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Forex - Fundamental research
Forexyard Daily
Today, September 18th is the day that forex traders have been waiting for since mid-August, as the Federal Open Market Committee will meet and announce their interest rate decision at 18:15 GMT. At this point, it is no longer a question of whether or not they will cut, but by how much. Currently, the Fed needs to decide on what kind of action it wants to take, an aggressive 0.50 % rate cut which may be considered as a stiff intervention and it could have far-reaching implications on the market or on the other hand, a 0.
• USD
• EUR
• JPY
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Tuesday,
11 September 2007,
23:05 GMT
Research
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Forex - Technical research
Forexyard Daily / Technical News
EUR/USD
On the 4 Hour chart, a rising wedge is forming which may imply a continuation of the bullish trend. It is recommended to time the entrance to the market with short term charts as 1.3758 seems like a strong entry point. At the moment the EUR/USD is trading around the 1.3720/1.3840 range.
GBP/USD
There is a very channel forming on the 4 Hour chart, as the pair now floats on the bottom level of it. The RSI and Slow stochastic are supporting the bullish notion, and we should see the uptrend continue at a steady pace.
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Tuesday,
11 September 2007,
23:02 GMT
Research
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Forex - Fundamental research
Forexyard Daily / Economic News
The last week's unexpected weakness in the labor market caused the USD to slump to a 15-year low against six of its most actively traded peers. Yesterday the USD was traded at 1.3808 against the EUR, which is only 0.4% below a record low of the 1.3852 reached in July 24th. The latest weak employment figures proved once again that the housing crisis hasn't been affecting the real estate sector only, but has expanded and now influences other markets as well. Given the circumstances, the Fed is highly expected to lower its benchmark rate by quarter of a point to 5% next week.
• USD
• EUR
• JPY
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Tuesday,
11 September 2007,
21:44 GMT
Research
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Forex - Technical research
Forexyard Daily / Technical News
EUR/USD
The pair is in the middle of a very strong uptrend at the moment, and the breach through the 1.3740 level which was a strong resistance and a key Fibonacci level, indicates that the move is validated and we might see the positive momentum continue to the 1.3900 level. The hourlies are a bit overbought which indicates that buying on dips might be preferable.
GBP/USD
The uptrend the cable is going through seems to be very strong and the daily chart validates that there is still room to run.
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Monday,
10 September 2007,
11:42 GMT
Research
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Forex - Fundamental research
Forexyard Daily / Economic News
The USD dropped massively on Friday upon the release of the US Job's report, and in particular because of the extremely negative -4K figure of the Change in Nonfarm Payrolls.
As could be easily predicted, investors and economists did not try to speculate or change their trading strategy on the present USD trend and continued to massively short the USD. The previous release was 68K, as the market expected 110K.
Today, there is no market moving news expected to come from the US, as the only release will be US Consumer Credit which is expected to go down from 13.
• USD
• EUR
• JPY
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