FXstreet.com

FX Weekly Report

3

0

Which way is the trend now?

Sun, Nov 15 2009, 20:56 GMT
by Pierre Charlebois

Trading Metro


Many USD pairs are showing sings of potential retreat from their long term trends. Evidence is mounting but of course, nothing is ever absolute. Let's see if this week brings follow through on the turn or yet another new low on the USD.

USD Index - The most obvious support now lies at 74.78, whereas the resistance is now 76.81

index

EUR/USD - The last swing high did not actually break the trend high so anything is still possible here

eur

GBP/USD - There is still a key upward trend-line in place

GBP

 

USD/JPY - Price action still mid-channel. Bias is difficult to assess

jpy


USD/CHF - A revisit of Par (1.000) is not out of the question, however the downward pressure seems to be waning.

USD/CHF


USD/CAD - The Dollar/Loonie price action is stuck between two descending trend-lines. They form potential support and resistance trigger points

CAD

 

AUD/USD - This pair's volatility has jumped in the last week or so - This often signals a break. the question is which way. The long term trend-line has yet to fail

AUDUSD


NZD/USD - This is one pair that has broken its long term trend-line. However it is now threatening a break back above the resistance

NZD/USD


EUR/JPY - This pair is stuck in the middle of its range - Bias is very difficult here

EUR/JPY



Archive

Trading Metro  | #310 - Dunsmuir Street. Vancouver, BC V6C 1N5
http://www.tradingmetro.com/ | admin@TradingMetro.com

Legal disclaimer and risk disclosure

High Risk Investment Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures, stocks or options on the same. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results. There is considerable exposure to risk in any off-exchange foreign exchange transaction, including, but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price. CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN. The content provided in this site is put forward in good faith and believed to be accurate, however there are no implicit guarantees of accuracy. The reader accepts that by using this information, he or she will not hold Trading Post Financial Services, Inc., ('Trading Post') responsible for decisions based on information from this site. This website may contain links to other websites. These links are provided as references to help you identify and locate other Internet resources that may be of interest. These other websites were independently developed by parties other than Trading Post Financial Services Inc. and Trading Post does not assume responsibility for the accuracy or appropriateness of the information contained at, or endorse the viewpoints expressed at, such websites. Currency trading is risky, it involves substantial risk of loss, it is not appropriate for everyone, and therefore only risk capital should be used for trading. Risk capital: money that a person can afford to lose. Past performance is no guarantee for future results. Actual trading results may vary.

Related reports

Intraday Forex Technical Report - U.S. Update: More dollar corrections by FXstreet.com Independent Analyst Team
Fri, Nov 20 2009, 16:15 GMT

Daily Market Report - There are indications that the market is reducing its exposure to risk by Wells Fargo Investments, LLC
Fri, Nov 20 2009, 15:19 GMT

Fundamental Currencies Comments - Dollar climbs vs. majors by ecPulse.com
Fri, Nov 20 2009, 15:15 GMT

Currency Majors Technical Perspective by FXstreet.com Independent Analyst Team
Fri, Nov 20 2009, 14:22 GMT

The Daily Currency Analysis - TraderPlanet Daily Currency Analysis by TraderPlanet.com, LLC
Fri, Nov 20 2009, 14:10 GMT

audusd, eurusd, usdcad, gbpusd, usdchf, nzdusd, usdjpy

View All

Related content

Wall Street ends Friday in negative; Dollar with gains
FXstreet.com | Fri, Nov 20 2009, 22:14 GMT

Forex: EUR/USD ends week with moderate losses
FXstreet.com | Fri, Nov 20 2009, 21:27 GMT

Canada Afternoon: C$ Ends Lower Amid Subdued Risk Sentiment
Dow Jones | Fri, Nov 20 2009, 21:12 GMT

ForexLive New York wrap-up: EUR/USD bounces after 1.4800 attack
Forex Live | Fri, Nov 20 2009, 20:58 GMT

Forex: GBP/USD fails to hold above 1.6500
FXstreet.com | Fri, Nov 20 2009, 20:35 GMT

audusd, eurusd, usdcad, gbpusd, usdchf, nzdusd, usdjpy

View All

Interested in forex trading? forex brokerage firms!


MG Financial Group
Contact the broker/FDM
Open a demo account
ACM Advanced Currency Markets SA
Contact the broker/FDM
Open a demo account
Capital Market Services, L.L.C.
Contact the broker/FDM
Open a demo account
CitiFX Pro
Contact the broker/FDM
Open a demo account
Alpari (US), LLC
Contact the broker/FDM
Open a demo account

GET CASH BACK FOR YOUR TRADES!   Learn more about the Pip Rebate Program

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2009 "FXstreet.com. The Forex Market" All Rights Reserved.