Thu, Jun 4 2009, 04:55 GMT
by Abdul Khan
Income Generation Strategies | View company's profile
Overview
Good economic data, and over-bought currencies helped the USD to bounce overnight. The question now is that has the Dollar Index put in a short-term low, or is this bounce just a 2-day respite before the bears takeover again?
With the ECB and BOE meetings tonight im looking for no rate cuts but perhaps some comments about the recent USD weakness. This could see the EUR and GBP come off further later today.
Gold also suffered from profit-taking as traders got edgy as we approached the $1000 mark. Support will be around 960, but this pullback could extend to around 945.
For those interested, I will be presenting webinars for FX Street every Friday at 0500GMT. Hope to see/hear you there.
Data for Today
UK: BOE Meeting
EU: ECB Meeting
US: Weekly Jobless
Trades for Today
EUR: Sell a break below 1.4100
NZD: Sell moves towards 0.6380
Email for details regarding stop-loss and profit targets. You can also now get me on twitter at:
http://twitter.com/forexplus
Published on Thu, Jun 4 2009, 04:58 GMT
Income Generation Strategies
| Level 26, Waterfront Pl. 1 Eagle Street, Brisbane, Qld. 4001
http://www.incomegenerationstrategy.com/ | abdul.khan@tricom.com.au
The Trend Trader for Forex by Pattern Trapper
Fri, Mar 5 2010, 01:58 GMT
The Trend Trader for Forex by Pattern Trapper
Thu, Mar 4 2010, 01:53 GMT
The Trend Trader for Forex by Pattern Trapper
Wed, Mar 3 2010, 01:40 GMT
The Trend Trader for Forex by Pattern Trapper
Tue, Mar 2 2010, 01:51 GMT
The Trend Trader for Forex by Pattern Trapper
Mon, Mar 1 2010, 00:12 GMT
Forex: Thin trading, No volume ahead of 2010
FXstreet.com | Thu, Dec 31 2009, 05:07 GMT
Asian Forex Wrap
Forex Live | Tue, Sep 29 2009, 04:24 GMT
Asian market wrap- USD on retreat again
Forex Live | Tue, Sep 22 2009, 04:12 GMT
Asian Forex Wrap
Forex Live | Wed, Sep 16 2009, 04:10 GMT
Asian Forex Wrap
Forex Live | Tue, Sep 15 2009, 04:18 GMT
GET CASH BACK FOR YOUR TRADES! Learn more about the Pip Rebate Program