Forex Crunch EUR/USD Sep. 27 – Consolidating After the Break |
- EUR/USD Sep. 27 – Consolidating After the Break
- Forex Daily Outlook – September 26 2010
- Forex Binary Options Setups – September 27 – October 1
- USD/CAD Outlook – September 27 October 1
| EUR/USD Sep. 27 – Consolidating After the Break Posted: 27 Sep 2010 01:04 AM PDT
EUR/USD starts the week with consolidation after a strong moves last week. Will it get ready for the next push on this light day? Here is a quick update on technicals, fundamentals, and community trends.
EUR/USD consolidating withing uptrend channel. EUR/USD Technicals
EUR/USD Fundamentals All times are GMT. Most important events emphasized.
EUR/USD Sentiment
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| Forex Daily Outlook – September 26 2010 Posted: 26 Sep 2010 03:00 PM PDT
We start the week with several interesting speeches (ECB) President Jean-Claude Trichet, deliver opening remarks testified before the Committee on Economic and Monetary Affairs of the European Parliament, and in Japan Governor Masaaki Shirakawa. L’ets see what awaits us today. In Europe, European Central Bank (ECB) President Jean-Claude Trichet deliver opening remarks at the 13th Conference of the ECB-CFS Research Network on “Macro Prudential Regulation as an Approach to Contain Systemic Risk” in cooperation with the Center of Economic Policy and Research, in Frankfurt and also testified before the Committee on Economic and Monetary Affairs of the European Parliament, in Brussels, and volatility is often experienced during his speeches as traders attempt to decipher interest rate clues.
Also in Europe, M3 Money Supply shows a rise of 2% in the total quantity of domestic currency in circulation and deposited in banks. It’s positively correlated with interest rates – early in the economic cycle an increasing supply of money leads to additional spending and investment, and later in the cycle expanding money supply leads to inflation. Finally in Europe, Private Loans increased by 0.3% and Borrowing and spending are positively correlated – consumers and businesses tend to seek credit when they are confident in their future financial position and feel comfortable spending money For more on the Euro, read the EUR/USD forecast and Casey Stubbs' latest analysis. In Japan, Bank of Japan (BOJ); Governor Masaaki Shirakawa deliver speeches at the Japan Society of Monetary Economics Autumn Meeting, in Kobe and also at a meeting with business leaders, in Osaka; and volatility is sometimes experienced during his speeches as traders attempt to decipher interest rate clues. More in Japan, Trade Balance, the Difference in value between imported and exported goods during the reported month decreased by 10T and Export demand and currency demand are directly linked because foreigners must buy the domestic currency to pay for the nation’s exports. Export demand also impacts production and prices at domestic manufacturers That’s it for today. Happy forex trading! Want to see what other traders are doing in real accounts? Check out Currensee. It's free. |
| Forex Binary Options Setups – September 27 – October 1 Posted: 26 Sep 2010 12:00 PM PDT
Inflation figures from various countries, industrial output, job figures and other risk news forex events provide opportunities for binary options trading. Here are potential setups for forex this week. Binary options can be used in forex trading as an alternative to a stop loss order, as a mechanism for false breakouts and more. Significant news events also provide setups for binary options: Binary options can be used at StartOptions, a respected provider which I’m working with. The information for these news events is based on data already collected for the weekly outlooks, and the potential reactions to results which are significantly unexpected by the consensus of economists. Some events collide with each other and could offset each other. So, these events aren’t in the list. Quick explanation:
Let’s review the events. All times are GMT.
These expected market reactions and setups are general market commentary. This is by no means any type of investment advice. If you're interested in binary options, please go to StartOptions. They're a leading binary options provider. This is how it looks on their screens: For our subscribers only we worked a special deal and we got you a $300 free bonus on opening your account. All you need to is deposit $1000 into your options account. Not spend. Just Deposit.
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| USD/CAD Outlook – September 27 October 1 Posted: 26 Sep 2010 07:00 AM PDT
GDP is the highlight in the upcoming week of the struggling loonie. Here’s an outlook for Canadian events, and an updated technical analysis for USD.CAD. USD/CAD daily graph with support and resistance lines marked. Click to enlarge:
In the past week, the Canadian dollar underperformed in comparison to the other important commodity currency – the Aussie.
Let’s review the events. All times are GMT. USD/CAD Technical Analysis USD/CAD was range bound in the past week – between 1.02 and 1.0350 (both mentioned in last week’s outlook). Attempts to break out above or below were short lived, and the pair closed at 1.0238. 1.0350 capped the pair for another week in a row, and is becoming a very strong resistance line. The 1.04 line, immediately above, is a veteran resistance line, which has a minor role now. Higher, 1.05 held the pair twice during August and is the next line of resistance. Above, the stubborn 1.0680 served as resistance in July and in August, for more than one day in each round. Above, 1.0750 was a swing high during May and also the limit of a long-term range in 2009. The last line for now is 1.0850, which was also a swing high in May. Looking down, 1.02, which was the 2009 low, is a very strong support line. Below, 1.01 cushioned a drop in August. The ultimate line of support is at parity, that got closer in the past week. The year-to-date low of 0.9930 serves as the last resistance line for now. I’m now bullish on USD/CAD. The Canadian economy is showing signs of weakening due to the lower interest rate and the slowdown in the US. A negative GDP this week can weaken the loonie, even if the greenback continues sliding around the world. Further reading:
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