Forex traders: March 2008

Wednesday, March 19, 2008

Forex Education Trading Strategies : CEE: Buy CHF/HUF, buy CHF/RON

We recommend buying CHF against HUF or RON, as we continue to see fundamental support for CHF and weakness for HUF and RON. This trade is furthermore a play on increasing risk aversion. We believe that the timing is right for this trade, as the rebound in the markets since Tuesday morning can be utilised to en-ter this position. HUF and RON look vulnerable: • The newsflow over the last few weeks has not been supportive for the imbalanced Emerging Mar-kets (EM) FX markets. We have long been

Monday, March 17, 2008

Forex strategy : EURUSD: Remains On The Offensive, Continues To Set Higher Prices

EURUSD - EUR remains clearly on the offensive trading to a high of 1.5688 after pushing through the 1.5462, 1.5500 and 1.5600 levels to close the week at 1.5674 on Friday. This continued upside gains is coming on the back of its break and hold above the 1.4955/67 zone, its horizontal trendline/ Feb 02’08/2007 highs. Holding at the present levels will put the next upside objective for the pair at 1.5700 and then the 1.5800 level, its psycho resistance zones. The weekly stochastics remains

Friday, March 7, 2008

Forex strategy : A crazy day may await the markets - watch the JPY!

US employment report on tap - bad news expected. Canadian employment report also up today. MAJOR HEADLINES – PREVIOUS SESSION Overnight developments: US Feb. ICSC Chain Store Sales rose 1.9% vs. 0.6% expected Australia Feb. AiG Performance of Construction Index fell to 53.9 from 58.3 in Jan. Japan Feb. Official Reserve Assets rose to USD 1008.0B from USD 996.0B in Jan. Japan BoJ kept the target rate unchanged at 0.50% as expected THEMES TO WATCH – UPCOMING SESSION Key event risks today (all

Wednesday, March 5, 2008

Forex strategy : EURUSD: Overbought Condition Weighs On Further Upside Gains

EURUSD -Following a fresh all time high at 1.5274 registered on Monday, the pair was seen consolidating on Tuesday and weakening in early morning trading today. This is coming on the back of an overbought condition currently seen on the daily time frame. In a bid to unwind the said condition, the pair could be seen weakening further towards the 1.5145 level, its 1.272 Fib Ext followed by the 1.5000 level, its psycho level and then the 1.4955/67 zone, its horizontal trendline/ Feb 02’08/2007

Forex strategy : Aussie Falls After RBA Governor Stevens' Dovish Remark

Aussie Falls After RBA Governor Stevens" Dovish Remark The dollar traded mixed on Tuesday. The yen was supported by continued carry-trade unwinding as international equity prices fell. The euro was moderately higher despite European finance ministers’ concerns over the rising euro and weak European GDP. However, EMU producer prices accelerated, suggesting the euro area still has an inflation problem. The Canadian dollar fell after the Bank of Canada cut its benchmark interest rate by

Monday, March 3, 2008

Forex strategy : EURUSD: Sustains A Third Week Of Upside Momentum, Turns Focus To The 1.5372 Level

EURUSD -EUR put in a third-week of consecutive upside gains the past week having broken and held above its key resistance levels especially its Feb 02’08/2007 highs at 1.4955/67.Following this technical breakout, upside targets are now seen at the 1.5372 level, marking its 1.618 Fib Ext and next the 1.5400 level, its psycho resistance level. The weekly stochastics and RSI remain bullish implying further upside gains. On the downside, supports are located at its 1.272 Fib Ext. at 1.5143

Forex traders