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Morning Briefing for March 31st: Shifting Lower
Written on 31 Mar, 2010 at 23:11 in Forex | viewed 75 times | 0 Comments
Mar.31.2010 9:13 AM CT – I added the top chart to show how we made fresh morning lows before 9 AM CT, but those lows were accompanied by relatively modest negative TICK readings and a non-confirmation from the Russell 2000 stocks. Seeing the divergence, I bought some IWM and rode a pop higher toward the [...]... (Continue reading)
Usd Shares Rise- But There’s More To The Story
Written on 31 Mar, 2010 at 23:04 in Featured Article | viewed 86 times | 0 Comments
Mar.31.2010 By Marc Chandler, Seeking Alpha The most authoritative source of information about the currency allocation of fx reserves, the IMF’s COFER data, was just released for Q4 09. As we have suggested, based on the dollar’s appreciation, the greenback’s share of reserves increased. In Q4 the dollar’s share of allocated reserves rose to 62.1% from 61.5%. [...]... (Continue reading)
Dollar Index Technical and Fundamental Review
Written on 31 Mar, 2010 at 22:49 in Featured Article | viewed 89 times | 0 Comments
Mar.31.2010 Book balancing at the end of Quarter 1 has created near-term volatility, that was aided by U.S. ADP private sector jobs numbers that were negative, at -23K, against the expected +40K read. Initial reaction was weaker equities, and forex moves that are stuck in the overnight range. EU infaltion has increased, as Unemployment moved to 10%. [...]... (Continue reading)
Usd/Jpy Bullish Waves
Written on 31 Mar, 2010 at 22:36 in Forex technicals | viewed 83 times | 0 Comments
Mar.31.2010 Usd/Jpy is still trading higher, and is showing an impulsive bullish structure from the 89.70 support zone. We can clearly count five blue sub-waves up from that region, which suggests that a near-term top is near, since the pair is already trading in a blue wave (v) that will accomplish an extended wave 3 [...]... (Continue reading)
Dollar Index Bullish Structure
Written on 23 Mar, 2010 at 23:02 in Forex technicals | viewed 70 times | 0 Comments
Mar.23.2010 The dollar index moved higher by 150 ticks ae the 79.50 lows were established in the last week. The upward move has covered more than 50% of a previous choppy, wave (4) decline, which suggests that a new bullish leg is in process. Recently, the red wave 1) found its top, which was reversed by a [...]... (Continue reading)
Overnight Price Action Seperation
Written on 23 Mar, 2010 at 22:54 in Stock market | viewed 47 times | 0 Comments
Mar.23.2010 Overnight price action has been contained, with little new momentum being seen in the currency market. The major pairs spent the session trying to break-free from the prior ranges, but overall, these moves have failed. Range bound trading has been prevalent even though investors were returning from an extended Japanese weekend, which usually [...]... (Continue reading)
Gbp/Usd Bearish view
Written on 23 Mar, 2010 at 22:51 in Forex technicals | viewed 73 times | 0 Comments
Mar.23.2010 Elliott Wave Charting: Gbp/Usd The Gbp has been one of the weakest currencies over the past few days, after the pair fell by more than 440 pips. The move was very sharp and extended, and was reversed by upward price action that is still developing. We are looking for a higher red wave 2)/B) to complete somewhere [...]... (Continue reading)
Dollar Set To Maintain Long Bias
Written on 22 Mar, 2010 at 15:42 in Forex news | viewed 70 times | 0 Comments
Mar.22.2010 A new episode of dollar strength hit in the latter part of last week, in reaction to global risk (equity) markets dropping off tests of yearly highs. The major pairs have all formed technical swing points on the daily and weekly charts, favoring long dollar plays, with the exception of the Usd/Jpy, which so [...]... (Continue reading)
No Inflation- Stocks Battle Usd Over Outlook
Written on 18 Mar, 2010 at 22:59 in Stock market | viewed 47 times | 0 Comments
Mar.18.2010 U.S. CPI numbers were not inflationary (no need to quickly raise rates), jobless numbers were less than expected, and the current account deficit improved slightly. The mixed reads allowed equity futures to move up, on the thought process that interest rates will stay low, and reversed the overnight move into U.S. dollar. Asian and [...]... (Continue reading)
Temporary Dollar Moves- Or Something Bigger To Come
Written on 15 Mar, 2010 at 19:11 in Featured Article | viewed 102 times | 0 Comments
Mar.15.2010 The dollar retreated in the past week on most fronts, says Yohay Elam at Forex Crunch. Catch Yohay, and TheLFB trade team on ForexTV Live. Was it a temporary move? The upcoming week provides lots of American events, with Ben Bernanke’s rate decision being the highlight. Here’s an outlook for this week’s market-moving events. In [...]... (Continue reading)
